Earlier this year, Wayne Allyn Root wrote a scathing commentary on the US economy in TownHall.com. Here is the gist of his analysis and his justification why he believes that total economic collapse is not far away.
“Here in America we hear the same lies and distortions about the economy as we heard about the EU: “ Everything is fine … it’s getting better … unemployment is improving … the crisis is under control … and, of course, the recovery is already under way.”
We now know that these are delusional lies. Europe is in freefall. Cyprus citizens had their life savings stolen by their own government – directly from their own bank accounts. In Spain, bankruptcies were up 45% in the first quarter of the year. In Italy, public buses were recently forced to return to the depot because there was no money to pay for gas. In Greece, 33,000 citizens a month are losing their electricity, for failure to pay their bills. In France, the Jobs Minister let it slip that “France is completely bankrupt.” In the UK, the economy is headed for a dreaded and unprecedented triple dip recession. It is clear Europe is entering a Great Depression.
How far behind can America be? Economic collapse is round the corner.
Our media keep telling us that we are in “recovery”. We are constantly being told that the stock market is rising, housing is enjoying (a few) signs of life (at bankruptcy prices) and cars are selling at a better rate than the terrible rate they sold at last year … and that, because of all this, the U.S. economy is doing well.
Stocks are rising because the Federal Reserve is printing $85 billion per month in fake money and dropping it onto Wall Street. Housing is rising because the Fed is buying mortgage-backed securities that no one else wants, to keep interest rates artificially low. Cars are selling because government itself is buying record numbers of GM cars, and handing out billions in checks (welfare, food stamps, disability allowances) to prop up consumer spending.
Take the government checks away and the economy collapses overnight.
Sounds like government is our savior, doesn’t it. Until you realize this is debt that has to be paid back. The only accomplishment is the destruction of our children’s and grandchildren’s future. They’ll be enslaved for life into paying unimaginable taxes just to pay the interest on the debt. Thanks mom and dad!
With record-setting debt we should at least be experiencing a recovery. We are not. The U.S. economy, despite trillions spent to artificially prop it up, is nearing complete collapse.
Last month we added a miserable 88,000 jobs. But much worse, 660,000 Americans dropped off the job rolls…in one month. 90 million working age, able-bodied Americans are no longer in the workforce. 90 million. The workforce participation rate is the lowest since 1979. For men, it’s the lowest since 1948, when record keeping began. Disposable income in January was the lowest since 1959.
Under Obama we’re truly “back to the future.”
Record level numbers of Americans are raiding their retirement accounts just to survive.
Student loan debt is a disaster – with defaults up 36% from a year ago. Homelessness is at record levels in New York City and other urban areas. 16.4 million Americans live in poverty…in the suburbs.
Some 46 million people are on food stamps; 14 million are on disability – the next handout after unemployment runs out. Millions more are on welfare, unemployment, housing allowances, aid to dependent children and 100 other government hand-outs.
Now, add in “free” healthcare. And then there’s 22 million government employees, whose bloated salaries, free healthcare, and obscene pensions are a gigantic liability for taxpayers- sucking the life out of the economy.
Jobs that no-one wants … or can afford to take
The few jobs being created are McNugget jobs with minimum wages, no benefits, and no job security. It’s now an Obamacare economy with jobs that no one wants.
The politicians’ response? Obama disbanded his Jobs Council. Really.
Homeland Security bought 2 billion hollow-point bullets. Are these to protect the government from its own citizens when the economy collapses?
New York Mayor Bloomberg passed laws to ban large soft drinks. And the federal government awards grants to researchers to study why lesbians are fat. I wish I was joking.
Don’t get mad, get even.
It’s time to put together your own “Booming Personal Economy,” which doesn’t depend on the federal government to magically provide you breakfast, lunch and dinner – not to mention free health care and a carefree retirement.
The government will run out of money long before we retire – so make sure you don’t.
As I explain in my brand new book, The Ultimate Obama Survival Guide, a Booming Personal Economy is what you create by seeing and seizing opportunity, where others see only misery and challenge.
It’s what happens when you are dedicated to making lemonade out of lemons. And you’re in luck – because Obama is a lemon.
Blackout USA (EMP survival and preparedness)
Conquering the coming collapse (Financial advice and preparedness )
Liberty Generator (Build and make your own energy source)
Backyard Liberty (Easy and cheap DIY Aquaponic system to grow your organic and living food bank)
Wayne Allyn Root