It’s shameful but it’s the truth: watching an empire in decline is unnerving, but that’s exactly what’s happening right now. Even while nations view America as a Mecca of prosperity, its standing as a model of equality and justice for all is crumbling before our very eyes.
You might have just assumed that the U.S. is number-one when it comes to capital wealth creation, but that’s in question now: in fact, there are actually more millionaires in China than in America. Today, the top-10 wealthiest people include 100 million Chinese citizens versus 99 million Americans.
Not that any of this wealth has trickled down to the working class: to the contrary, it’s a tale of two very separate Americas, with the wealthiest earners sitting in first class while everyone else has to fight just to get a seat. The most recent stats are particularly unsettling:
- 44% of American consumers don’t make enough money to cover their expenses.
- 40% of everyday Americans have experienced a “credit problem” (rejection of a credit card, a missing payment, defaulting on their balance due, etc.).
- Both student loans that are 90 days or more delinquent and auto-loan delinquencies are higher this year.
- The average student debt per capita is $5,460; auto loan debt is $4,790; and credit card balance is $3,210.
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This is all happening while the government paints a rosy picture of the economy as the stock market – which is chiefly the playground of the wealthy – continues to hover near all-time highs. The economy is hanging by a thread, and the only thing that’s holding it up at the moment is the American consumer, who wants to live luxuriously like Trump and is spending like there’s no tomorrow.
That’s the irony of it all: the same Americans who can’t afford to pay their bills are holding up the economy – but they’re just mirroring a government that can’t and won’t pay its bills. The U.S. sovereign debt is approaching $23 trillion and neither party is planning to pay it off anytime soon.
This is devastating to the middle class, but the American central bank is perfectly fine with it: always remember that the Federal Reserve is owned by private banks, not by the people, as you can see above. They have absolutely no interest in helping you pay off your debt; as long as you owe them money, they own you and you’ll be making interest payments until you’re in the grave.
If you’re not doing what foreign governments around the world are doing – reducing your dependence on American debt notes and preparing yourself for the day when the markets reflect the real state of the U.S. economy – then you need to consider making some changes.
Just because the nation and the government are drowning in debt doesn’t mean that you and your family have to drown with them.
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