The U.S. economy is being slowly but surely destroyed and many Americans have no idea that it is happening. That is at least partially due to the fact that most financial news is entirely focused on the short-term. Whenever a key economic statistic goes up the financial markets surge and analysts rejoice. Whenever a key economic statistic goes down the financial markets decline and analysts speak of the potential for a "double-dip" recession. You could literally get whiplash as you watch the financial ping pong ball bounce back and forth between good news and bad news. But focusing on short-term statistics is not the correct way to analyze the U.S. economy. It is the long-term trends that reveal the truth. The reality is that there are certain underlying foundational problems that are destroying the U.S. economy a little bit more every single day.
11 of those foundational problems are discussed below. They are undeniable and they are constantly getting worse. If they are not corrected (and there is no indication that they will be) they will destroy not only our economy but also our entire way of life. The sad truth is that it would be hard to understate just how desperate the situation is for the U.S. economy.
Long-Term Trend #1: The Deindustrialization Of America
The United States is being deindustrialized at a pace that is almost impossible to believe. But now that millions upon millions of people have lost their jobs, more Americans than ever are starting to wake up and believe it.
A recent NBC News/Wall Street Journal poll found that 69 percent of Americans now believe that free trade agreements have cost America jobs. Ten years ago the majority of Americans had great faith in the new "global economy" that we were all being merged into, but now the tide has turned.…
There are some differences and they are significant.
The US is not on a gold standard, so the devaluation of the dollar does not have to occur in a stepwise function with an official restatement of value. This time the Fed can simply monetize debt and provide more dollars as it wills. That is fiat.
The US is not a net exporter to the world, as it was then. This is why Smoot-Hawley was harmful to the US recovery. The major nations of the world, such as Germany, Italy, and Japan, became engaged in their own domestic industrial recovery including rearmament. Today the US is the consumer for the world’s exporting nations. And it also owns the reserve currency.
The New Deal was a bottom up Jobs Program. The Deal this time is a new version of trickle down. The second wave down in the Great Depression caught many of the professionals who had made millions shorting the initial market declines, or at least survived the Great Crash by selling early. The next wave down in the current credit collapse is going to boil the middle class, a few degrees at a time.
By Brendan Byrne. Originally published at ValueWalk.
Pakistan and India are suffering some of the worst tensions in recent years over continued strife in Indian-held Kashmir.
A recent militant attack on an Indian military base left 18 soldiers dead, and New Delhi has blamed Islamabad for masterminding the assault. In the aftermath, simmering tensions between the two nuclear-armed neighbors have threatened to boil over.
Image source: Wikimedia CommonsProtests and militant attack raises tensions
Anti-government protests in Indian-held Kashmir have been a massive source of controversy in recent months. More than 80 people have died in clas...
What a difference a year makes, because in the latest report by UBS wealth Management, which compiles the bank's Global Real Estate Bubble Index, it found a new champion for the title of "world's biggest housing bubble", namely a familiar name, Vancouver, but also that as many as six cities had made the "bubble" category, up from last year's two. ...
The Chinese stock market has been eerily quiet of late – is that about to change?
Outside of a record tight 2-month trading range in stocks this summer, there has been no shortage of market news, stimulus and action so far in 2016. And it has come from all over the globe, from the breakdown in U.S. stocks to begin the year, to their eventual July breakout; from the Brexit shocker to the continued struggles among European banks; and from the re-emergence of emerging markets to the re-awakening of the precious metals complex. But, speaking of re-awakening, one market that has eerily quiet this year, in our view, is China.
This is particularly so in contrast to the manner in which the Chinese stock market captivated the investment landscape over the 18 months prior. Specifically, China&rs...
China has stanched a string of defaults and speculation authorities will continue to stave off failures is leaving investors the most bullish on local junk bonds in five years, despite record maturities.
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"When you let the free market take over, the little people get screwed and bankers get rich. Chile tried privatizing retirement plans and surprise, surprise, fund manager ate the profits… Pretty sure the results would be the same here..." ~ Jean-Luc
I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.
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Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer. One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."
Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.
Genetic components are the DNA sequences that are 'inherited.' Some of these genes are stronger than others in their expression (e.g., eye color). Yet, some genes turn on or off due to external factors (environmental), and it is und...
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