The Currency War, Part I
It shows the percentage of employable Americans who have jobs at a 30-year low, a statistic on its way to who-knows-where. Observant readers will notice the steepest part of the plunge in this chart: the last four years. This is when the U.S. government has
claimed to have generated an
They say a picture is worth a thousand words. In this case, I think we can boil down the chart above to just two words: " What jobs?" However, slashing the wages for 80%-plus of our populations by more than half, and inflicting massive/permanent unemployment upon us is only the beginning of the economic carnage.
With wages slashed by more than half, with less people working than at any time in more than a generation, tax revenues from the Average Person (individually and collectively) have naturally collapsed as well. Meanwhile the Fat Cats who have prospered throughout this economic carnage (most notably the Top 1%) have instructed their political servants to tax themselves at the lowest rates in history.The consequences of this are patently obvious -- yet seemingly invisible to 99.999% of the population: our economies are going through the
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