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 "economic recovery" and claimed to have "created millions of new jobs."
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 worst revenue crisis in history. This is detailed in a previous, three-part series; again based primarily on U.S. numbers, since this is where we have the most "real dollar" data available. Courtesy of nowandfutures.com The real-dollar line is this chart is unequivocal. After an artificial spike in the 1990s due to the "dot com" bubble, we see U.S. government tax revenues in a sickening plunge very similar to the sickening plunge in U.S. employment and the sickening plunge in U.S. wages. Incredibly, the Corporate propaganda machine has had the audacity to refer to the worst revenue crisis in history as a "spending crisis". Observe the chart below, and again be sure to focus on the line representing "real dollars." Courtesy of nowandfutures.com We see U.S. spending -- even with all the trillions of dollars spent on its endless wars -- roughly flat. Subtract the spending on its military expeditions, subtract the spending on interest payments to the Financial Overlords, subtract the hundreds of billions of dollars per year in direct and indirect corporate subsidies and spending on people (in real dollars) is obviously plummeting lower.
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