Clamp Down on Cash Is the Ultimate Surveillance State: “Citizens Shouldn’t Be Under General Suspicion”

The war on cash is more than just a currency war to  clamp everyone down on the electric grid. It is also a war on your privacy, and the nail in the coffin for the free market of low level transactions. Soon, restrictions on cash will become so severe that even spending $100 will arouse suspicion, despite the constant inflation on the value of such a denomination. One day, physical currency may become obsolete. When that day comes, they will know everything you do. Conducting transactions in anything but digital creds will be not only increasingly difficult, but seen as outright criminal behavior. It might even make you a terrorist. Don Quijones argues on Wolf Street: There are two sides in the global war against cash. On one side are many of the world’s governments, central banks, fintech firms, banks, credit card companies, telecommunication behemoths, financial institutions, large retailers, etc. […] Read More

What Middle Class? Most Americans Make Less Than 30K A Year: “So Many People Barely Scraping By”

This article was written by Michael Snyder and originally published at his End of the American Dream blog. Editor’s Comment: The Middle Class is mostly now a memory. Statistically, the majority of all American workers make a sum that puts them only modestly above the poverty line. While there are many bright, intelligent and skilled people in the United States, there are relatively few opportunities. Far too many overqualified people for the good jobs that are available. Many learn to lower their expectations and do with less, while far too many learn the bitter rewards of dependence, living off of government benefits for “free.” Goodbye Middle Class: 51 Percent Of All American Workers Make Less Than 30,000 Dollars A Year by Michael Snyder We just got more evidence that the middle class in America is dying.  According to brand new numbers that were just released by the Social Security […] Read More

The Number of Americans Living on Less Than $2 a Day Is Skyrocketing

Research shows 1.5 million households and 3 million children are living in desperate economic conditions. The World Bank and other global institutions use a very specific measure to record global poverty rates. They gather data designed to record the number of people in a country who live on less than $2 a day, and then use the information to make a “poverty headcount ratio”— the percentage of people in a country who live under this standard. In most recent data, Sierra Leone, for example, had a staggering 82.5% of its citizens living in poverty by this count. What is less known is that millions of Americans are living in situations of similar poverty. A new book, $2.00 a Day: Living on Almost Nothing in America, explores the status of Americans who face this extreme level of poverty “Most of us would say we would have trouble understanding how families in a […] Read More

Number Of “Ultrapoor” Americans Has Doubled Since 1996

If you’ve been paying attention to the economy for the past seven years or so, you’ve probably been wondering when the whole charade is going to come crashing down. When will all of those inflated markets and debts reach their apex, and start crumbling under the weight of economic reality, and leave us all destitute? There have been plenty of predictions, but none have truly come to fruition. Well the truth of the matter is that there may not be a single day when everything grinds to a halt, and there’s plenty of evidence to suggest that our standard of living is crumbling in slow motion. For many Americans the end has already arrived, and their ranks are growing a little more every day. In fact, the number of Americans that are earning what amounts to a third world wage, has doubled over the past 20 years. The number […] Read More

Strapped Americans Headed for “Civil Unrest and Riots,” With Poor Spending 60% on Bare Essentials

It is clear that the economic realities falling upon the masses in America are driving us towards a crisis point. Even with substantial government subsidies, the bottom 10% of Americans are beyond struggling, spending more than 60% of their meager incomes on the bare essentials. According to the latest official numbers, the poorest in the United States are spending 42% of their income on housing and another 17% on food, statistics that are unsustainable for individuals and families. The Wall Street Journal reported: For many Americans, the rise in food and housing prices is a tough squeeze. That’s because—even in an era with low overall inflation—low-income Americans spend a disproportionate share of their money on food and housing. New data from the Labor Department show the extent of the discrepancy. The bottom 10% of Americans, by income, devote 42% of their spending to housing and an additional 17% to […] Read More