A Wicked Financial Storm Descends On America
By: Terresa Monroe-Hamilton
Ever since 2008, this blog has been warning about economic devastation heading our way. You see it everywhere you look today, if you bother to look that is… Gas prices are at close to an average of $4 a gallon and in parts of California, it is now hitting $7, with no end in sight. Food inflation that is rising so precipitously, it takes your breath away – but the government says there is no inflation.
In the world that is America now, all things seem to be upside down and sliding full-blown out of control. This includes the Communist who is our current Commander-in-Chief. He claims he is drilling for oil, when the opposite is true. He is blocking all of it and piling so many regulations on our coal plants in lockstep with his bud, Cass Sunstein, that they are shutting down as well. Lie after lie after infernal lie.
As for unemployment, the government is manipulating the hell out of those numbers in an attempt to calm the sheep before the slaughter. They claim it has fallen to 8.2%. Take a long look at the U6 rate, which tracks not only those out of work, but those who’ve essentially given up looking for work. It currently sits at 14.5% – close to double what is being claimed by our ‘progressive’ leadership. Real unemployment stands at closer to 19.1% and is perhaps substantially higher than that.
People are giving up on finding work. A second, even more brutal wave of foreclosures is also on the horizon. Real hunger is coming to the US and hard times that will make the Great Depression seem like the good ole days are pounding on our door. A majority of states are now close to being unable to cover pensions and other entitlements as well as expenses. Bankruptcy is an understatement for what these states are facing. So, to “solve” the problem, a number of them are taxing more which makes it worse and worse. All the while, the rising flood of fuel prices surges against the levee.