We've lost a lot of purchasing power. We don't make anything anymore. We're creating a lot of inflation. Our debt to GDP ratio is absurd. Our credit rating is downgraded. We have no future. The only difference between us and Greece is the passage of time and major weaponry.
We had some power from having a world currency, but it is slipping away. The people who run America want to perpetuate the illusion that things are o.k. by keeping the house of cards up until they have looted their way out the door, leaving a mess for us to clean up.
The official figures on inflation are lies. The true index of inflation can be seen in the price of groceries, and of gold, which is up to $1,800 an ounce. When they unregulated commodities trading it became vulnerable to manipulation by the oil companies, among others. That actually precipitated the economic collapse. Manipulated oil prices rising made all other prices go up. Elected officials should have re-regulated commodities trading but were basically bribed not to, so the upward pressure remains. Further, when they print money, as they are doing, it causes inflation.
Inflation clearly steals from the poor and middle class. The rich have assets that rise with inflation. The Fed's policies inflated the housing bubble throughout the last two decades. This benefited those who could afford to own homes while making housing unaffordable to many. The banks and mortgage brokers were along for the ride, filling their money bags. The Fed's goal at any given time was to keep the housing bubble from bursting until whatever guy who was in the White House left. They knew it would burst eventually, leaving a big mess that would take a more serious toll on the working class person (as everything seems to). A well-off person just downgrades to a smaller place. Where does the person with the small place downgrade to?
Don't believe that they are "reforming" anything. Nothing's been fixed. The same people who crashed the economy are in control. They are looting its remains while our politicians watch. Obama is a disaster, but Romney would be worse. Vote for the least bad candidate, but we need to do more. We need to shake off these robber barons and take our country back.
Where do you think the economy's heading?
If you want to see more of my commentary, go to my blog at:
http://www.longecity...at-7-commentary
Edited by Luminosity, 10 October 2012 - 03:54 AM.
