The Social Security Administration just released national wage statistics for 2022, and the figures that they have given us do not paint a pretty picture at all. Middle Class Crisis in America: In particular, we should all be deeply alarmed that the median wage earner brought home just $40,847.18 last year. That breaks down to about $3,400 a month, …
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Digital Currency: The new digital currency will make trackable every transfer of money to family, charities, friends, clients. The nation’s central banks who issue the virtual money will have total control over how you spend it. Big Brother will, in other words, control your wallet every hour of every day. “You will not be able to buy a stick …
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A study of requirements for the optimal functioning of Capitalism quickly uncovers the need for a strong focus on trust. This applies to economics on the micro level as well as the macro perspective. Trust is one of the ethical principles that make the difference between constructive and self-destructive operation in profit-driven financial businesses. In cultures where social development …
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Globalist capitalism, the economic system that became dominant since the 1980s, fundamentally deviates from historic capitalism. It is heavily influenced by the Marxist revolt against traditional virtues. In my new book, The Billionaire World. How Marxism serves the Elite, I point out that this is key as the rebellion against historic capitalism and its ethical standards, creates an moral …
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“Hanne Herland of the European Herland Report has a book published in which she argues that the ruling elite has resurrected feudalism by financializing the economy and offshoring middle class jobs. The title is New Left Tyranny, but it is about gangster state capitalism,” writes the leading political economist, Dr. Paul Craig Roberts in this analysis of the book: “Historically, …
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The Harvard Belfer Center report, “The Great Economic Rivalry: China Vs. the US,” predicts that at the current rate China will overtake the US economically within a decade. When it comes to trade, China has now displaced the US. “When this century began, China was knocking on the door of the WTO and the U.S. was the leading trading …
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The Singaporean diplomat, Kishore Mahbubani has wisely said that the greatest failing in modern Western thought is the lack of a basic common moral understanding. It creates a cultural divide that will sap and divide the West in the years ahead. Failing modern Western thought: Mahbubani argues that as a result of the ethical decline, the West has developed …
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The Federal Reserve’s Anti-inflation Policy Makes No Sense. Another agenda is in play. Dear readers and fellow economists, the Federal Reserve is treating a rise in prices from supply shocks and disruptions from the Covid lockdowns and sanctions against Russia, Iran, and other countries as if it were a monetary inflation. It is true that too much money is chasing …
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To remind: One month into Trump’s presidency (Febr.17, 2017) I wrote his presidency’s obituary and predicted what was to follow. Americans are faced with a Satanic threat against truth, and thereby liberty and morality, that they do not understand: Trump’s Presidency: Has Donald Trump overestimated his presidential power? The answer is yes. Is Steve Bannon, Trump’s main advisor, politically …
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As the dollar declines, so does Washington’s power. Cutting dependence on the US dollar: The De-Dollarization discussion suffers from holdover thinking that a reserve currency is needed. No reserve currency is needed. Countries can settle their trade balances in their own currencies or contracts can specify the currencies of trade transactions. Countries with low inflation and low debt will have stronger …
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