Blog Archives

12-Year Old Child Reveals One Of The Best Kept Secrets In The World (Video)

info-pictogram1 Most people in the world, young or old, have little idea that our world is so incredibly corrupt and coldly calculated to create an enslaved population. Luckily, this is changing with each passing day as a switch seems to be turning on in people that allows them to see and realize that something isn’t quite right here.

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Mini-Documentary: A Tsunami Of Debt Threatens Democracy (Video)

info-pictogram1 Remember the financial crisis of 2008? Are we sleepwalking towards another financial meltdown? While the super-rich are thriving, ordinary households are taking on mountains of debt. Governments may have spent billions on bailout packages and in the absence of a fairer economic system, a debt-fueled bubble may burst with catastrophic results.

The Student Loan Debt Crisis In Context (Video)

info-pictogram1 Student loan debt in the United States has reached a new milestone, crossing the $1.2 trillion mark. That’s more than the credit card debt of all Americans combined. What does that mean for the average American? AJ+ crunches the numbers.

Money Is A Form Of Social Control And Most Americans Are Debt Slaves

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By: Michael Snyder

Source: http://theeconomiccollapseblog.com/

Is America really “the land of the free”?  Most people think of money as simply a medium of exchange that makes economic transactions more convenient, but the truth is that it is much more than that.  Money is also a form of social control.  Just think about it.  What did you do this morning?  Well, if you are like most Americans, you either got up and went to work (to make money) or to school (to learn the skills that you will need to make money).  We spend a great deal of our lives pursuing the almighty dollar, and there are literally millions of laws, rules and regulations about how we earn our money, about how we spend our money and about how much of our money the government gets to take from us.  Not that money is a bad thing in itself.  Without money, it would be really hard to have a modern society.  Unfortunately, our money is based on debt, and debt levels in the United States have exploded to absolutely unprecedented levels in recent years.  The borrower is the servant of the lender, and if you are like most Americans, nearly every major purchase that you make in your life is going to involve debt.  Do you want to get a college education so that you can get a “good job”?  You are told to get a student loan.  Do you want a car?  You are encouraged to get an auto loan and to stretch out the payments for as long as possible.  Do you want a home?  You are probably going to end up with a big fat mortgage.  And of course I could go on and on and on.  The cold, hard truth of the matter is that most Americans are debt slaves.  Most of us spend our entire lives trapped in an endless cycle of debt that we never escape until we die, and meanwhile our years of hard labor are greatly enriching those that own our debts.

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Argentina Debt Default – Who Has The Most To Lose? (Video)

info-pictogram1 The third largest economy in South America has slipped into a technical default after talks between Argentina and US creditors broke down. Who will pay the debt and what is the impact on the economy?

US senate blocks aid to Israel

Harry-ReidHarry Reid

Source: https://www.middleeastmonitor.com/

US aid to Israel has been blocked by Republican senators, who have concerns that support for America’s “number one ally” would increase the country’s debt. The aid, worth $225 million for Israel’s Iron Dome missile defence system, was included in a proposed “border aid bill” worth a total of $2.7 billion, which was also intended to help fight wildfires in America’s Western states.

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How Student Loan Scammers Are Exploiting The Debt Crisis (Video)

info-pictogram1 Americans are now holding $1.2 trillion in outstanding student loan debt, and college graduates are becoming an increasingly attractive target for financial scams. AJ+ explains how companies are trying to exploit the crisis and those struggling borrowers looking for debt forgiveness.
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Trickle-down economics is the greatest broken promise of our lifetime

Inequality

The richest 85 people in the world have as much wealth as the poorest 3.5 billion – or half the world’s entire population – put together. This is the stark headline of a report from Oxfam ahead of the World Economic Forum at Davos. Is there a reason why the world’s powerful, gathering at the exclusive resort to sip cognac and eat blinis, should care? Well, yes.

If one subscribes to the charitable view that neoliberal philosophy was simply naive or misguided in thinking that “trickle down” would work infinitely, then evidence that it doesn’t, should be cause for concern. It is a fundamental building block of supply-side economic theory – the tool of choice these past few decades for those in charge to make adjustments. The realisation that governments have been pulling at economic levers which, for some time, have been attached to nothing, should be a wake-up call to the deepest sleepers.

Even if one subscribes to the cynical view that the elite knew what they were doing all along, observing that the “rising tide” is lifting fewer and fewer boats and leaving more and more to rot in the sediment – both at a personal and national level – must make most wonder “am I in the right boat and is it big enough?” Concentration is rampant. Credit Suisse estimates that the world will have 11 trillionaires within two generations.

It is not so much that the supply-side principle “if you build it, they will come” is no longer true. It is more that we appear to have passed a tipping point, where so much wealth has been concentrated at the top, they no longer need bother to “build” anything. In short, it has become more economically efficient to buy countries’ economic policy than to create value in order to sell it on. If one can control government to favour the richest, while raising barriers for new entrants, thus increasing their share of the pie exponentially, what is the incentive to grow the pie?

This applies to both companies and individuals. Small business gets clobbered by taxes and business rates, while big business turns around and says to the state: “This is how much tax I fancy paying this year, take it or leave it”. The rich no longer create jobs, through a process of consolidation, takeover and merger, they actually destroy them. Zero-hours contracts are the way of the future; in a society that is hungry, desperate and devoid of political engagement or unionism, why would anyone offer terms and conditions that give individual workers any standing?

And yet, the realisation must dawn soon – one hopes – that this model is unsustainable because its effects are uncontrollable. The more unequal we become as a society, the faster the top’s earnings diverge from the bottom’s. “When so much of the purchasing power, so much of the economic gain, goes to the very top,” Bill Clinton’s former labour secretary Robert Reich explains in the film Inequality For All. “There’s simply not enough purchasing power in the rest of the economy.” At the same time, there is far too much loose cash sloshing around at the top, leading to unwise risks and toxic investments. Wealth inequality in the US was at its highest levels, historically, in 1928 and 2007, one year before its two biggest financial crises, notes Reich. The base of the pyramid atrophies and begins to crumble.

Then why are most governments continuing to fiddle with supply-side levers in order to revive the economy, when it is abundantly clear it does not work? The simple answer is in two parts. First part: habit. The second was perfectly expressed by the creator of The Wire, David Simon: “That may be the ultimate tragedy of capitalism in our time, that it has achieved its dominance without regard to a social compact, without being connected to any other metric for human progress.”

We have come to measure, to an increasing extent, individuals’ success by their wealth, spending power and other assorted trappings. We do the same with the economic success of governments; measure it by an aggregated data set that fails to take into account wealth distribution, educational achievement, innovation, or even the welfare and health of the population they claim to represent. We must shift this perspective. It will be the hardest, simplest thing we have ever had to do as a species.

Omar Suleiman: The 85 richest people in the world have the same amount of wealth as the poorest 3.5 billion. Islam’s solution: those 85 paying zakat alone would be a serious game changer.

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