1/4th of American workers make the UK minimum wage or less. The average 2011 college graduate has $25,000 in student debt and $3,500 in credit card loans. If those college grads conscientiously make their loan payments, their after tax spendable income is somewhere between the UK minimum wage of $9.60 an hour and the American minimum wage of $7.25.
Since the passage of the North American Free Trade Act in 1994, 12 million jobs were sent overseas and 56,000 manufacturing plants have been closed. America is still losing 23 manufacturing plants a day. In 1996 Catherine Austin Fitts was told by the head of the California state worker’s pension fund that there was no point to investing in America as he had been told that the United States was to be taken down. He decided to invest in products from Goldman Sachs, J P Morgan and their cohorts which we now know to be fraudulent. The Spire Law Group filed a 43 trillion lawsuit against more than 1,400 bankers, politicians and regulators demanding recovery of the money they stole from us.
Since the passage of NAFTA and the deindustrialization of America, the only remaining ways to make easy money in the modern world are to either participate in one of a series of Bubble frauds or pay the government money to put your competitors out of business. General Electric which pays no corporate income taxes but does make generous campaign contributions is allowed to operate coal fired electrical generation plants while the US Environmental Protection agency shuts down GE’s competitors. This has raised utility rates on financially distressed small businesses and increasingly impoverished Americans.
Alan Greenspan, Chairman of the Federal Reserve from 1987-2006, was the father of the Bubble Machine in the modern era. He was not known to the general public until he went to Washington as a paid lobbyist for Charles Keating whose Lincoln Savings and Loan was one of the greatest frauds of the 1980s. He was most famous for the Greenspan put which meant he would create money out of thin air to keep share prices high enough so that swindlers could pump and dump one fraudulent dot com stock after another. Even after the dot com crash in 2000 Greenspan did not raise margin requirements on stock purchases but did raise interest rates after the Bubble burst.
Americans used to have a clear title to their home which they registered at their county courthouse. This was replaced by the Mortgage Electronic Registration System or MERS. Most modern mortgages have 18 digit MERS Identification Numbers. Bubbles are created by granting loans which force up prices such as real estate so even more people are drawn into the wild profits made available from the mania. Greenspan encouraged the public to buy homes and to even fund spending splurges with second mortgages. Loans were granted to people who had no ability to pay. I personally knew an illegal alien woman in Silicon Valley which is an expensive place to live who made ten dollars an hour as a babysitter, had three sons and a husband who had one Christmas job in two years. A mortgage broker loaned the illegal alien enough money to make the payments. This loan was an example of fraudulent conveyance which was ruled to be illegal under American Common Law in the New York colony long before 1776. Yet Greenspan and American regulators did nothing about these frauds even after they made headlines. In fact Ben Bernanke has been buying these toxic assets to keep Wall Street criminals out of jail. Many critics have said that when the dust settles after the crash that Americans will be reduced to debt slavery and will be landless serfs with the Federal Reserve owning their homes. I believe it was intentional that we have no clear title to our homes at a time when we are excessively burdened with both mortgage and Treasury debt.
Ben Bernanke created our current Bubble in Treasury bonds. Treasury bonds in the UK and America are at their highest prices in 300 and 248 years respectively. Bernanke is currently buying 90% of all new Treasury bonds. But what is the value of a bond that nobody but the man who printed it is willing to buy? The interest rate on long term US Treasury bonds was approaching 4% early in 2010 when Bernanke upped his purchases and simultaneously had Morgan Stanley and others buy 8 trillion dollars in interest rate swaps. This cannot and will not last.
Suppose you were invested in either US or UK bonds. The nominal interest rate is minimal and is far less than the inflation rate. Only a lower interest rate can send your bonds up in value and even lower rates is not possible. The Shadow Banking System which is made up of Hedge Funds, money market funds and Structured Investment Vehicles (bank subsidiaries) have assets totaling 67 trillion dollars. Taxes including most importantly the capital gains on American holdings are going up in January. Why not sell now at the top of the bond market, take your profits and park some of it in gold and silver bullion? That is one near term scenario for the collapse of the Bond Bubble over the next few months.
If you deflate the US economy for consumer price increase of 10%, it is really contracting at 7% a year. I previously wrote why Austerity budgets and tax increases do not work. I have placed a link in the Notes below. Austerity will contract the American economy even further as it did in Europe. Just another 3% will push our contraction to 10% a year which will force the the media to admit we are now in a Depression far worse than 1929-1939.
I recently met a man who was newly hired by one of America’s leading supermarket chains who told me he was getting less than 30 hours a week. This is happening to a lot of people because Obamacare exempts part time workers from mandatory and ultra expensive health care insurance. Of course this man cannot live on his income. And forget supporting a family. But that was intentional. The bankers hate America and have been working to destroy it for some time.
When the Bond Bubble collapses, the dollar and the pound will crash. American after tax and inflation wages will be half what they were in January of 2011.
Let me repeat a quote from Dr Steve Keen. “The world has the greatest level of debt in 500 years so we are headed to the greatest Financial Crisis in 500 years.”
Of course we could just say No to the bankers. We could also just say No to Jewish wars all over the Mideast and Africa. We could seize the assets of the bankers and use that money to cancel our debts. We could issue a non-interest bearing currency and ban fractional reserve banking.
But that would require us to develop an ability to think thoughts forbidden by the Jews.
Notes: This first article proves that Austerity measures are a fraud. They are there to steal even more money from us to give to the bankers.
The Mathematics Of Austerity: Proving Austerity Never Was Even Intended To Work
25 Reasons To Absolutely Despise Bankers And Their Minions
This next article will explain to the Zionists why so few people who know them like them.
Joe Cortina, Gaza And The Limits Of The Israeli Empire
I have been saying for some time that there will be no war against Iran. My most recent article explains why I believe America will not be capable of waging wars as early as the Summer of 2013.
Update On The Louisiana Sinkhole, New Madrid And California Earthquakes