“The core of the American financial system is in a much stronger position than it was before the crisis,”
Know this, Wall Street is thriving because the Fed continues to print and pump money into that system (per CNBC business news ).
The cost of energy, a central core economic value, is teetering at the brink of $5.00 per gallon gas-at-the-pump, ending all hopes of a recovery. I live in California. Here, parts of the state already record $4.00 per gallon. The Administration has had more than two years to solve this problem and has done nothing but make it more volatile.
25% of all homes in this country are vacant and another 11% are "upside down" as relates to equity versus home values.
The Department of Labor Statistics has unemployment at 9% while Gallup has that total set at a full 10%.
19.3% of this nation's workforce is unemployed or underemployed -- well over 34 million folks, the highest in history.
The largest tax increase in history has been levied on retired citizens in the form of a two year decision by Obama to not give cost of living increases to those on Social Security.
It is expected that food commodities will rise 3 to 4 percent in the coming year.
And most disturbing of all is the fact that 44% of our total economy is borrowed money. Take that 44% away and we move from the illusion of prosperity to the reality of a third world, poverty stricken nation.
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