During the Obama administration nearly all the jobs created were part time jobs. To fudge the numbers the solution was to count people who were only employed part time as having full time jobs. This has never been done in the history of the US. It's why Obama was able to go on TV and brag that he had miraculously brought the unemployment rate down below 5%. Too bad it wasn't true.
Now statistics have come out that of all the jobs created since 1990 have been low wage, low hour jobs. In other words, part time work at part time wages and without medical, dental, vacation, or retirement benefits. The following article will lay this out for you.
The rest of this article can be found here.
It's time to wake up as to just how shaky our economy really is. It can go boom just about at any time and if we are not prepared for this we, as individuals, will be hurt very badly. The debt in this country is at record levels. That's Federal, state, county, and city debt all at levels never seen before and they are all in the same boat at the same time. Plus, consumer and corporate debt are also at all time record levels. Corporate debt is now at 47% of the nations GDP, the measure of US total economic activity. That's $10 trillion of debt just in companies traded on the stock exchanges. And that number is 52% larger than it was in 2008 when our economy came close to completely collapsing. Many of the large corporations are so far in debt that they can barely make interest payments, let along pay on the principal they owe.
Plus, the Fed has been printing money at levels never seen before. In what is called the "repo" market they have been pumping up to $130 billion in one day into the US banking system to try to keep it afloat. The "repo" market is what is essentially bad debt that has been packaged, repackaged, repackaged and repackaged and sold again and again and again. It is now worthless and no one is buying it so the Fed is printing money out of thin air to "buy" this debt from the banks to keep them afloat and not go out of business. As the estimates for the value of the derivatives--another term for all of the debt that has been packaged and repacked again and again--reach as high as $350 trillion you can see that there isn't enough money in the world to pay of all this debt. And this debt doesn't count all the debt from all forms of government in all nations, plus all corporate debt world wide, plus all consumer debt world wide. In fact, all government debt is smaller than the derivative debt at about $250 trillion. There's just no way to pay this kind of debt so economies around the world are going to be collapsing at a far greater rate than they are now, and that includes the US economy. Venezuela is going to be the norm where people are eating out of the garbage piled up in the streets because the government doesn't have the money to pick up the garbage.
And the more money the Fed prints the less value your pay check, investments, and bank accounts hold. The printing of money without corresponding value being added to the economy brings on inflation. And the more money printed out of thin are the higher the inflation rates will be. It means our buying power will be shrinking on an ongoing basis. Remember when cottage cheese came in quart containers? 32 ounces? Those containers are already down to 24 ounces and they still cost more than they did just a very few years ago. This is going to happen to everything, and you know how often your employers are raising your wages or the government is raising SS payments or disability payments.
Prepare yourself for the very hard times that are coming.
Now statistics have come out that of all the jobs created since 1990 have been low wage, low hour jobs. In other words, part time work at part time wages and without medical, dental, vacation, or retirement benefits. The following article will lay this out for you.
The rest of this article can be found here.
It's time to wake up as to just how shaky our economy really is. It can go boom just about at any time and if we are not prepared for this we, as individuals, will be hurt very badly. The debt in this country is at record levels. That's Federal, state, county, and city debt all at levels never seen before and they are all in the same boat at the same time. Plus, consumer and corporate debt are also at all time record levels. Corporate debt is now at 47% of the nations GDP, the measure of US total economic activity. That's $10 trillion of debt just in companies traded on the stock exchanges. And that number is 52% larger than it was in 2008 when our economy came close to completely collapsing. Many of the large corporations are so far in debt that they can barely make interest payments, let along pay on the principal they owe.
Plus, the Fed has been printing money at levels never seen before. In what is called the "repo" market they have been pumping up to $130 billion in one day into the US banking system to try to keep it afloat. The "repo" market is what is essentially bad debt that has been packaged, repackaged, repackaged and repackaged and sold again and again and again. It is now worthless and no one is buying it so the Fed is printing money out of thin air to "buy" this debt from the banks to keep them afloat and not go out of business. As the estimates for the value of the derivatives--another term for all of the debt that has been packaged and repacked again and again--reach as high as $350 trillion you can see that there isn't enough money in the world to pay of all this debt. And this debt doesn't count all the debt from all forms of government in all nations, plus all corporate debt world wide, plus all consumer debt world wide. In fact, all government debt is smaller than the derivative debt at about $250 trillion. There's just no way to pay this kind of debt so economies around the world are going to be collapsing at a far greater rate than they are now, and that includes the US economy. Venezuela is going to be the norm where people are eating out of the garbage piled up in the streets because the government doesn't have the money to pick up the garbage.
And the more money the Fed prints the less value your pay check, investments, and bank accounts hold. The printing of money without corresponding value being added to the economy brings on inflation. And the more money printed out of thin are the higher the inflation rates will be. It means our buying power will be shrinking on an ongoing basis. Remember when cottage cheese came in quart containers? 32 ounces? Those containers are already down to 24 ounces and they still cost more than they did just a very few years ago. This is going to happen to everything, and you know how often your employers are raising your wages or the government is raising SS payments or disability payments.
Prepare yourself for the very hard times that are coming.
