This should open some people's eyes. Quote: "Even though I write about our ongoing long-term economic collapse every day, I didn’t realize that things were this bad.
In this article, I am going to show you that the average rate of growth
for the U.S. economy over the past 10 years is exactly equal to the
average rate that the U.S. economy grew during the 1930s. Perhaps this
fact shouldn’t be that surprising, because we already knew that Barack
Obama was the only president in the entire history of the United States
not to have a single year when the economy grew by at least 3 percent.
Of course the mainstream media continues to push the perception that
the U.S. economy is in “recovery mode”, but the truth is that this
current era has far more in common with the Great Depression than it
does with times of great economic prosperity." https://www.theburningplatform.com/2017/06/02/over-the-last-10-years-the-us-economy-has-grown-at-exactly-the-same-rate-as-it-did-during-the-1930s/
This is what Trump is doing
that is making the political left unhappy. But, many Americans and
businesses are happy. He is removing the Obama era shackles that were
choking the economy. See the results. http://www.libertyheadlines.com/trump-deregulates-left-cries-foul/?
This video reveals the truth about how bad big government is for small businesses. https://www.prageru.com/courses/economics/big-government-kills-small-businesses
This item details a totally different banking concept that is taking hold. Check it out. http://www.wealthauthority.com/articles/is-it-time-to-hop-on-board-with-bofi-holding/
This former Goldman Sachs
executive and Trump appointee believes the too big to fail banks need to
be shrunk to size. Lets hope that corrective action is taken to make
it happen. Quote: "In a
private meeting with lawmakers, White House economic adviser Gary Cohn
said he supports a policy that could radically reshape Wall Street’s
biggest firms by separating their consumer-lending businesses from their
investment banks, said people with direct knowledge of the matter. Cohn,
the ex-Goldman Sachs Group Inc. executive who is now advising President
Donald Trump, said he generally favors banking going back to how it was
when firms like Goldman focused on trading and underwriting securities,
and companies such as Citigroup Inc. primarily issued loans, according
to the people, who heard his comments. The remarks surprised
some senators and congressional aides who attended the Wednesday
meeting, as they didn’t expect a former top Wall Street executive to
speak favorably of proposals that would force banks to dramatically
rethink how they do business. https://www.theburningplatform.com/2017/04/07/destroy-all-monsters-cohn-said-to-back-wall-street-split-of-lending-investment-banks/
This deals with the subject
of government pushing the minimum wage. A good or bad idea? Quote: In
fact, given all the talking points and media coverage the issue has
received lately, it's not surprising that most people assume that approximately 30 percent of US workforce earns minimum wage. Presumably something that gets so much attention affects a lot of people, right? It only affects 1.5 percent of the entire workforce." https://fee.org/articles/the-minimum-wage-conspiracy/? More bad news regarding the minimum wage. https://www.washingtonpost.com/news/wonk/wp/2017/06/26/new-study-casts-doubt-on-whether-a-15-minimum-wage-really-helps-workers/? More. Robots are replacing low waged workers. http://www.zerohedge.com/news/2017-02-27/minimum-wage-massacre-wendys-unleashes-1000-robots-counter-higher-labor-costs And, http://www.businessinsider.com/mcdonalds-ex-ceo-takes-on-minimum-wage-2016-5 Liberals
must be proud to have eliminated beginner jobs for teens. They were
starter jobs. They were never intended to pay adult workers a living
wage.
This despicable arrangement between crony capitalist and government is one of the reasons our country is in such deep trouble. https://www.theburningplatform.com/2017/08/15/corporate-welfare-how-big-business-lives-off-government-subsidy/
It is government that destroys jobs. This item explains. https://fee.org/articles/governments-destroy-jobs-not-automation/?
Thanks to Charles for sharing this item. http://www.dailywealth.com/3567/we-have-officially-entered-the-escher-economy-
The political left proves over and over again that they do not understand even the simple basics of economic. Take a look at this quick review of comments Obama made several years ago and those socialist Elizabeth Warren has repeatedly spouted. http://www.wnd.com/2017/07/you-didnt-build-that-5-years-later/ No wonder socialist economies always fail. To them individual initiative and hard work does not exist. Government is the source of all things right and good - they think of government as a god.
Democrats and good fiscal management do not go together. This item elaborates. https://libertywriters.com/2017/06/democrats-destroyed-state-unbelievable-happens-next-sick/ That being said, Republicans are more responsible but not nearly as much as they need to be.
Quote: "In a column from December of 2015, the Wall Street Journal's
Mary O'Grady unveiled an inconvenient fact that poverty warriors on the
American left and right would perhaps prefer remain hidden: from 1980
to 2000, when the U.S. economy boomed, the number of Mexican arrivals
into the U.S. grew from 2.2 million in 1980 to 9.4 million in 2000. The
previous number is a clear market signal that the U.S. is where poverty
has always been cured, as opposed to a condition that requires specific
U.S. policy fixes. Economic progress always and everywhere springs from investment. O'Grady's statistics came to mind while reading a recent New York Times
column by Jared Bernstein, a senior fellow at the Center on Budget and
Policy Priorities. He writes that a "highly progressive agenda [from
Democratic scholars and politicians] has been coming together in recent
months, one with the potential to unite both the Hillary and Bernie
wings of the party, to go beyond both Clintonomics and Obamanomics." The
problem is that the agenda that's got Bernstein so giddy has nothing to
do with the very economic growth that is always the source of rising
economic opportunity for the poor, middle and rich." https://fee.org/articles/the-politically-hopeless-completely-incoherent-and-totally-lame-economic-agenda-of-the-democratic-party/?
We all need to consider the
implications of the contents of this piece. Quote: "As part of its
historical revision to GDP, the BEA also had to adjust personal income
and spending, with the full results released in today’s July report.
What it revealed was striking: over the revised period, disposable
personal income for US household was slashed cumulatively by over $120
billion to just under $14.4 trillion, while spending was revised higher
by $105 billion, to just above $13.8 trillion. There were two immediate
consequences of this result." https://www.theburningplatform.com/2017/08/02/a-quarter-trillion-dollars-in-us-savings-was-just-wiped-away/
We can learn something from
this guy. Quote: "For an excellent (albeit indirect) analysis of how
Austrians and libertarians can advance their cause from a minority
position, Taleb’s recent article The Most Intolerant Wins: The Dictatorship of the Small Minority
is a must-read. He reminds us that a small minority with courage—the
most important form of skin in the game— can prevail over the slumbering
masses. And he also reminds us that courageous individual actors, not
51% mass movements, drive real changes in every society: The entire
growth of society, whether economic or moral, comes from a small number
of people. So we close this chapter with a remark about the role of skin
in the game in the condition of society. Society doesn’t evolve by
consensus, voting, majority, committees, verbose meeting, academic
conferences, and polling; only a few people suffice to
disproportionately move the needle. All one needs is an asymmetric rule
somewhere. And asymmetry is present in about everything." https://www.theburningplatform.com/2017/05/03/what-nassim-taleb-can-teach-us/#more-149453
This has been said before
but is worth a repeat. Paul Craig Roberts knows of what he speaks.
Quote: "For 66 years the Glass-Steagall act reduced the risks in the
banking system. Eight years after the act was repealed, the banking
system blew up threatening the international economy. US taxpayers were
forced to come up with $750 billion dollars, a sum much larger than the
Pentagon’s budget, in order to bail out the banks. This huge sum was
insufficient to do the job. The Federal Reserve had to step in and
expand its balance sheet by $4 trillion in order to protect the solvency
of banks declared “too big to fail.” And, "The enormous increase in
the supply of dollars known as Quantitative Easing inflated financial
asset prices instead of the consumer price index. This rise in bond and
stock prices is a major cause of the worsening income and wealth
distribution in the United States. The economic polarization has
undercut the image and reality of the US as a land of opportunity and
has introduced political and economic instability into the life of the
country. These are huge costs and for the benefit only of the rich who
were already rich. So, what we can say about the repeal of
Glass-Steagall is that it turned a somewhat egalitarian democracy with a
large middle class into the One Percent vs. the 99 percent. The repeal
resulted in the destruction of the image of the United States as an open
prosperous society. The electorate is very much aware of the decline in
their economic situation, and this awareness expressed itself in the
last presidential election." And, "Not only must Glass-Steagall be
restored, but also the large banks must be reduced in size. That any
corporation is too big to fail is a contradiction of the justification
of capitalism. Capitalism’s justification is that those corporations
that misuse resources and make losses go out of business, thus releasing
the misused resources to those who can use them profitably. Capitalism
is supposed to benefit society, not be dependent on society to bail it
out." https://www.theburningplatform.com/2017/06/10/without-glass-steagall-america-will-fail/
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