All of the economic surveys being released right now are all showing the same thing. The Conference Board Survey that usually receives grants from the government, during the Obama years, that survey of course showed that everything concerning our economic state was great. Now that we are in a Trump term, things will follow suit, so it’s no surprise that the very same survey conducted now shows us in big trouble, which points the blame right at the president. Looking at The People’s Survey, also known as Gallop, that one shows the accurate story, that the US economy has been turning down for quite some time now. Confidence is plummeting, as more and more people are being honest with themselves about this mess, realizing that it may indeed need to get worse before we can get better. The ones losing their jobs are among the first victims to be hit the hardest by this turn of events. High paying jobs have dried up. Many people who have several degrees in education are still being forced to work at least two lower paying jobs just to make ends meet and support their families. Enough to live maybe, but still below the poverty line. The UMich Consumer Sentiment was no better, dropping to 95.1. This is the lowest in seven months, going back to November of 2016, not a good sign. The average American consumer is losing not only confidence, but hope that anyone can escape this meltdown of the US Petro Dollar.
UMich Consumer Confidence Slips To 7-Month Lows As Hope Fades
There have been many layoffs in retail as stores still continue to close. Many layoffs with contracted workers as they are being let go bit by bit. There is a steady progression here, but it’s in the wrong direction. But people continue to fight for a shred of perseverance, as they keep looking for jobs, jobs that just aren’t there. Many are wondering, they’ve put decent resumes out, showing excellent work experience and education, but still continue to sit at home, day after day, waiting for an employer to call who most likely never will. People lose hope, even the ones that have the few pitiful jobs. There is no raise potential, no chance of finding something better, while they still struggle with inflation, whether or not they have that little bit of work.
The Corporate Media, The FED- they are all trying to convince us that the economy is still fine, while real life boasts of a very different scene. The economy over a long period of time slowly has been deteriorating right before our eyes. There are as many different kinds of explanations for the loss of job growth, loss of revenue in every job sector. It was the sun, the harsh winter, the wind, the cold, the snow, the ice, the latest hurricane or terror attack. Excuse after excuse. All the sales went to online. All of the sales weren’t online like they expected. They are getting to the point where they have run out of excuses. Whenever there is a significant downturn there is always the litany of excuses for why it’s happening. The Media pulls this stunt every time, even though it never works. How do they have any credibility at all after being caught red-handed lying to the people so much and so often? Why aren’t these people held to account for their dangerous deceit? Why do these lying snakes still have their good paying jobs after failing miserably- but yet the average worker who does everything right starves in the streets?
The BEA came out with Personal Incomes and Outlays Report. This report showed that ‘disposable personal income’ rose by 71.7 billion in the month of May. Appearances are deceiving however. To an outsider all of this disposable income should be out in the system being spent. This number exists and yet the money simply isn’t there. Looking closely and carefully, the report makes a bit more sense, well, at least you can see where the money went- some of it. So who is receiving the money? Where did it go? If consumer spending went up like they say, and all of it was going to let’s say Bill Gates, or others like him, then that money would be missing from the hands of the people, so they would never be able to spend it. Wages and salaries were up a minescule 6.6 billion, or .08%, one percent annualized. How was the 6.6 billion in wages and salaries distributed? Eighty percent of the 6.6 billion went to the top five percent of the wealthy. The other twenty percent was spread out thinly across the country, making the little bit there was for each citizen insignificant and impossible to create any kind of impact. Looking at the numbers, next to what the corporate media is saying, it sounds fantastic. They criticize the consumer, saying that they should all be out spending, but they are hoarding their money instead. All the while the bulk of this huge figure is going to the wealthy while the average little guy- because being little is average now- is left clueless in the dark. Twenty percent of 6.6 billion dollars spread out across hundreds of millions of Americans is difficult to find with a fine toothed comb and a magnifying glass. But for the one to five percent of the wealthiest people eighty percent of the 6.6 billion is a very hefty bonus. This is how the numbers are manipulated, so that what you hear is never exactly what is there.
At this rate, we are headed for a complete and utter breakdown of the system. Illinois is now bankrupt and the state itself is shut down. Connecticut is also facing a trying time- along with fourteen other states sitting right on the brink of failing since Illinois set the trap behind it. When they were unable to balance their budget on June thirtieth the Governor of Connecticut signed an Executive Order- giving him alone complete control of the state’s spending. Contributing to their losses there are several corporations that are leaving the state. Aetna- the insurance giant founded in Hartford- after a hundred and sixty-four years- announced they are leaving Connecticut, and relocating their world headquarters to New York City. GE after forty years are also relocating the Fairfield Headquarters out of the state. Many hedge fund investment companies are following behind them. Connecticut has been among the states hit hardest by revenue leaving, taking jobs and lively hoods with them.
It’s Not Just Illinois: Connecticut Faces Friday Day Of Reckoning
Connecticut Gov. Signs Exec. Order Taking Over Spending After State Fails To Pass Budget
In an interview recorded by Zerohedge, Ron Paul nailed down exactly the conundrum we all face as a nation:
“I think that it will have a negative effect but I’m not going to say where it’s going exactly. I would not be shocked if in October if its 25% lower than it is now.”
“I think the markets are very nervous for good reason: They don’t know what to expect and while it’s unpredictable what the Fed will do, it’s also unpredictable how the markets will react.”
“Since they’re incapable of knowing what to do I don’t expect much good to come out of anything they do they cannot anticipate. They haven’t been right on most of their projections and their planning. I don’t think the bubble atmosphere and the wonderful things happening on Wall Street will last forever. I think it’s coming to an end.”
“But I think the signs are that the economy is weakening even more so, and I don’t accept this idea that employment is magnificent and perfect and will last forever.”
“Some of these markets are already looking a little shaky. The Nasdaq looks a little shaky, the dollar looks a little shaky right now and on to bonds – those prices are going down too as interest rates are going up.”
“People have been convinced that stocks are going to go up forever, that it’s a new era, but I don’t happen to buy this. I think the old rules always exist. There’s too much debt, and too much investment. The adjustment will have to come. If our markets are down 25% and gold is up 50%, it wouldn’t be a total shock to me.”
At this point- if there is any downturn or hiccup in the economy, say if they announce a recession, or the stock market coming down- All of the these states will completely collapse, the pensions will disappear. This will become a catastrophic event on a scale never before seen.