Economic Glance
Our entire economy is now based on debt. We are told that we have to go into debt for everything.
Debt is a "soft" form of slavery. In America today, it is not legal to bind people up with chains and force them to work for you, but that doesn't mean that there are not millions upon millions of slaves in this country. When you borrow money, you willingly become a servant to the lender. Sadly, there are millions of Americans that will spend the rest of their lives working to pay off their debts but they will never escape the endless debt slavery that they have gotten themselves into. When you add up all forms of debt in the United States at this point, it comes to more than 54 trillion dollars. That is more than $178,000 for every man, woman and child in America. We truly are one nation under debt, and we have created the biggest debt bubble in the history of the planet. Unfortunately, all debt bubbles eventually burst, and when this one bursts the consequences are going to be unlike anything ever seen before.
Daniel Suelo lives in caves in the canyonlands of Utah. He survives by harvesting wild foods and eating roadkill.
Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.
The companies have avoided U.S. taxes on almost every penny of their international profits by keeping the money offshore. And nearly that entire haul has been designated by top executives of those firms as “permanently” or “indefinitely” reinvested abroad, partly because of the 35 percent U.S. tax rate companies must pay to bring home foreign money.
Financial speculators are gambling on oil the same way they gambled on the housing market a few years ago — a frightening prospect for the fragile economy, a Democratic congressional committee was told Wednesday.
How has this central banking scheme "helped"? It hasn't. It actually ended up destroying scarce resources as it fooled the participants in the economy for a period of time into thinking they were more wealthy than they really were.
