Whistling Past the Graveyard
Listen closely. Can you hear it? It's a steady drumbeat of financial news that points to an impending crisis in the American economy. And lately, it has been getting louder.
Scary? Perhaps. But even scarier is the number of Americans who don't appear concerned. With unfounded confidence, they seem assured of a positive outcome resulting from a a blue-sky scenario or a soft landing. They believe that somehow, magically, everything will turn out OK. These Americans are "whistling past the graveyard". They make a lot of noise with the hope of convincing themselves and others that there are no monsters lurking in the shadows. But the monsters are there. And pretending that they aren't just leaves others to clean up the mess.
Right now, there are at least 10 strong indicators that we are at a pivot point in the American economy. By addressing these problems now; by shining a light on them, we'll be able to deal with them before they deal with us.
The issues are:
1. High Unemployment. While the public is continually being told that unemployment is at 9%, the true figure closer to 18%. The 9% figure that is disclosed each week only counts for people that are receiving unemployment benefits. Those who do not qualify or have run out of benefits do not count in these figures.
2. The Real Estate Bubble Continues to Deflate. Home prices continue to slide. Foreclosures are predicted to hit an all time high in 2011, dragging down prices everywhere.
3. Commodity Prices, Including Oil, Continue To Skyrocket. Day traders and stock market speculators are driving commodity prices through the roof, causing Americans to pay excessive amounts of money for oil, corn and meat.
4. The Value of the U.S. Dollar Continues To Drop. The FED’s continual money printing keeps the value of the dollar low and getting lower.
5. A Black Market for Cheap Labor - America's high wages have created a huge demand for cheap labor, and illegal immigrants are more than happy to meet that demand. With a rising deficit and mounting government costs, it's time to get real about immigration. If we're going to turn a blind eye to the millions of illegal immigrants entering this country every year, we need to find a way to tax them.Continued on the next page