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Tuesday, May 10, 2016

Inequality for All

Poor Man Survival

Self Reliance tools for independent minded people…

ISSN 2161-5543

A Digest of Urban Survival Resources

The American Government has become a bureaucratic tumor, no longer does it work for the people. It is sucking the lifeblood and freedom from the people it is supposed to be serving. It's only a matter of time before it self-destructs. >the Poor Man

Inequality for All

An economist walks past a hundred dollar bill om the sidewalk and doesn't pick it up. His friends ask why. “If it were worth something, someone else would have grabbed it already.” And that kind of sums up how many people today think about Obama's efforts at helping the middle class.

Fewer people are spending any real real money but they are going into debt again and the layoffs and retail store closings are starting again and cities are still languishing...It's happening in China and in Europe too.

No sooner had Mr. Trump become the presumptive GOP nominee and the kindergarten antics began. Former GOP presidents refused to support Trump because their boy didn't get the nod, GOP big shots wouldn't add their support offering a wait and see promise [hoping perhaps Bernie would pull off a miracle against Clinton] and some groups are urging advertisers such as Coca Cola to withhold support of the GOP convention in Cleveland this summer.

In recent years the GOP has become notorious for its impotence and it refuses any kind of Viagra. Trump, an outsider, using his own cash, managed to thumb his nose at the political elite and managed to break the sound barrier of politically incorrect sound bites by tapping into the anger and frustration of the middle class feels against career politicians who have screwed them and the nation while serving their corporate master.

If you're a political outside the two parties make it especially difficult to run-they've designed it that way on purpose. Just ask anyone from the Libertarian Party or other third party.

Ironically, polls indicate the majority of Americans do not trust either Clinton or Trump and as usual, it will boil down to choosing the lesser of the two evils but it is interesting to finally see someone outside of the political mainstream achieve what Trump did.

Some Democratic Party members, even rank and file Democrats, have grown sick and tired of the Clintons. There's even a rumor floating around that hints that she'll make Obama her running mate! If something were to happen to Hillary, Obama would become President again.

If that were to happen, our freedom would further erode, especially in the area of gun rights and it is speculated that Hillary would nationalize retirement accounts under the so-called Guaranteed Retirement Accounts [GRAs] first mentioned by Obama in a State of the Union speech.

Trump was further chastised on a Yahoo news story for a potential plan to wipe out the national debt with a semi-bankruptcy plan. The response was immediate and harsh as to be expected from the ill-informed. Think about however, both parties have been bankrupting this nation for past 50 years. Our income tax system is a bad joke and our spending power is has eroded by 45% in just the past 15 years! The Fed [which is a bunch of bankers Thomas Jefferson warned us against] has done a great job of denigrating the value of our dollar already thank you.

In either case, should Trump and Clinton become the nominees, I predict we'll see one of the dirtiest races ever waged between the two parties. The Clinton's in particular, are no strangers to dirty politics.

In the Grip of Greed

Thanks to former President Clinton financial markets are now akin to casino only most people don't seem to get it. The game is rigged by the Fed, the banks and high-frequency traders. Clinton' elimination of the 90-year-old protective Glass-Steagall Act allowed Wall Street unrestrained gambling with virtually no government oversight which led to the crash which nearly wiped out America and which the average American is still paying for. [Why do you think Hillary got paid more than $640K from keep the Act from being reinstated should she be elected to the oval office, of course]. Many economists are already predicting a repeat of our earlier crash – only worse and much of it can still be blamed on the revolving door between officials in DC and Wall Street.

The regulatory state in DC is nothing more than a wholly owned subsidiary of Wall Street.

There have always been booms and busts but as the Fed continually introduces more artificial unknowns and as the government continually introduces more job choking red tape and regulation [at the state and federal level] these recessions become worse and we become less competitive. According to Shadow Stats, for instance, our jobless numbers hover more closely around 22% versus the 5.65% number Obama gives us [The government is famous for its verisimilitude].

Trump is right...the system is rigged but it is not just elections. The economy is rigged against working people. The income gap in America has grown under every President since Clinton's second term creating a sluggish, unequal and crisis-prone economy because of tax giveaways, financial sector deregulation, lack of oversight and more.

American capitalism has become a sort of crony capitalism more akin to a third-world autocracy than a supposedly free-market system.

The system is rigged because we have the most expensive government can buy...

The headlines look good now but if you dig deeper you'll find trouble. Unemployment has dropped partly because a huge number [something which Trump and others have pointed out] have given up looking for a job. The labor participation rate dropping to a 38-year low. Household income for the average American family, meanwhile is still $4,000 lower than when Bill Clinton left office. This has been the weakest recovery in the postwar era, said the Wall Street Journal in an editorial recently.

America has seen a wage stagnation and a decline in manufacturing plus a failure to find a new source of middle class jobs to replace it. [sources: Robert Reich's and Bruce David's How to Survive the War on the Middle Class].

Pity the young, said Rich Miller in – A coming collapse in investment returns means 30-year-olds starting to put aside money today will have to work seven years longer or save almost twice as much to build up the same nest egg as their parents. That bleak finding indicates the golden era for investors is ending.

The Tax Foundation, a non-profit think tank released their annual report last month and it contained some sobering realities about the cost of government.

>In 2016, Americans, will pay over $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes or 31 percent of the nation's income.


>Americans will collectively spend more on taxes in 2016 than they will on food, clothing, and housing combined!.

  • If you're bummed about your income, join the crowd Impatience with income has led to a wavering sense of financial insecurity in the U.S. How safe do you feel?
  • John Williams of tracks what the official government numbers would be if honest numbers were actually being used, and according to him U.S. GDP growth has been continuously negative since 2005.

I know it's a challenge for many of us to save money today, especially if you have children. That's why I frequently write about part time income strategies [you can get my Escaping the Rat Race CD ROM for only $5 ppd. at our storefront]...further, I always urge folks to grow their own food, and to buy their own home with at least an acre or more so you can grow food and perhaps have a bit of livestock. This I feel, makes an ideal wealth preserving tool and is something you can hand down to your children.

Yours for better living,

Bruce, 'The Poor Man'

Additional Resources

Cheapest and Easiest Ways to do a Will (Clark Howard): "What are the odds you don't have a will? The best guess is that 50% of people don't have one. If you don't have children and have very little in the way of assets, that may be OK for you. But if you do have children, you need a will for the simple fact that if you don't have one, the state will decide who raises your kids."

The $15 Retirement Plan (The Simple Dollar): "All you need is $15 a day to retire very nicely if you start when you’re young. That’s just a bit of pocket money most days. Let’s run through the math."

The Money Boss Manual: A Brief Guide to Financial Independence (Money Boss): "I’m pleased to announce that, at long last, A Brief Guide to Financial Independence is available to download. This free 70-page PDF collects all of the material from my “financial independence crash course” into one convenient document."

Normally I charge $14.95 for this collection, however I feel it is so important I am going to share it with you free of charge and I urge you to share it with your family and friends while it is still available. Your donations are appreciate however!
How to Survive the War on the Middle Class
14 of the best reports I’ve assembled on protecting your freedom…Here is the download link.

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1 comment:

dar said...

I wish more people shared your insights - you should run for Congress!