The purchasing power of the dollar in 1913, when the chart above begins, was close to what it was in the 1830s. As long as we were still on a gold standard (up to 1933), it was almost as though an external force was drawing the value of the dollar back toward that adjusted value.

The Great Depression and the policy tools used to fight it severed the domestic link of the dollar to gold. The external trade deficits of the United States during the 1960s caused the final rupture of the international link to gold in August 1971.

The rate of decline in the purchasing power of the dollar tended to level off in the 1980s, but a long, slow, cumulatively corrosive decline has continued to the present, with the consequence that a dollar today would buy one less than a nickel’s worth of goods and services in Woodrow Wilson’s time.

The accompanying graph is at least some evidence that the experiment of a Federal Reserve System (created in 1913) with no explicit link to gold, and no effective external check on its activities, has failed the public’s interest.

Is SHTF really that far off?

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Notice anything odd about the photo?

Notice the big screen TV? Probably cost a couple thousand dollars.

Notice the Xbox game system? That plus the games probably cost a couple hundred dollars.

Apparently Ms. Kelly can afford to buy big screen TVs and video game systems, but since she spent all her money on those trinkets she now wants you and I to pay her electric bills … because that TV and gaming system require large amounts of electricity.

Says Neal Boortz: “Are you seeing my point here, folks? I am just so sick to damn death of these entitlement whores, these moochers who believe that the money that you worked for somehow belongs to them.”

Ayn Rand, in “Atlas Shrugged”, described the American population as composed of three classes:

- “Moochers” demand others’ earnings on behalf of the needy and those unable/unwilling to earn themselves, however, they curse the producers who make that help possible and are jealous and resentful of the talented on whom they depend.
- “Looters” confiscate others’ earnings by force (“at the point of a gun”) and include government officials, whose demands are backed by the implicit threat of force. The looters are proponents of high taxation, big labor, government ownership, government spending, government planning, regulation, and redistribution.
- “Producers” actually produce the goods and/or services that the rest of the population wants.

We really need to turn around this attitude of so many people that they honestly believe something you own is somehow “owed” to them because of reasons only they are able to define. We also need to make unemployed all the professional politicians that enable, empower, and pander to this class of person.

Don’t tread on me. I am armed, and I’m getting really pissed.

Raymeica Kelly, taxpayer, entitlement whore, moocher, Ayn Rand, Don’t tread on me

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The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.

Don’t forget that this bill came from Conservative Republicans and Tea Partiers. The Democrats and their Progressive minions wanted to increase taxes in the middle of the worst recession in a generation. Remember this in 2012.

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It is becoming increasingly apparent that the U.S. economy is heading for complete and total disaster. State and local governments across the nation are uncontrollably bleeding red ink. The federal government has accumulated the largest debt in world history. Every year we buy hundreds of billions of dollars more from the rest of the world than they buy from us. That means that we are getting hundreds of billions of dollars poorer as a nation every single year. Meanwhile, thousands of factories and millions of jobs continue to be sent overseas as American cities turn into post-industrial wastelands. Incomes are down, unemployment remains at depressingly high levels and very few of our politicians seem to have any idea how to fix things. Yes, things are really, really bad. So what are some things that we can all be doing to prepare for the coming financial apocalypse?

Read the whole article. Print it off. Study it. Do it.

economy, America

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http://www.cnbc.com/id/37549417

Anthony Fry

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* In January 2007 before the Democrats took over Congress, unemployment was 4.6 percent; now it’s 9.6 percent.
* In January 2007 there were 7.1 million unemployed people in America; now there are 14.9 million.
* In January 2007 the median home price was $210,600; today it’s $179,300.
* In January 2007 the Dow Jones Industrial Average was at 12,500; today it’s at 10,840.
* In January 2007 the gross federal debt was $9 trillion; today it’s $13.5 trillion.
* The poverty rate in 2006 was 12.3 percent; now it’s 14.3 percent
* In the final budget created by a GOP-controlled Congress, the deficit was $160 billion; now it’s $1.6 trillion.

Add it all up and: there were half as many people out of work then; houses were worth 17 percent more; stocks were 16 percent higher; the federal debt was 33 percent lower; poverty was 14 percent lower, and; the deficit was 90 percent lower!

In 35 days you can make your disgust known to Washington and the army of professional politicians whose lives depend on the contents of your wallet.

Democrat, Congress, unemployment, median home price, federal debt, poverty rate

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U.S. unemployment rate is around 10%. One in 10 homeowners are behind on their mortgage payments. Home sales are at record lows. Ohio’s Ashtabula County sheriff department was cut again to 49 people and just one squad car for a county of 1,900 sq. km. The state of Michigan has converted at least 50 miles of paved road to gravel in the last few years. Cincinnati, Ohio, is cutting back on trash collection and snow removal and filling fewer potholes. The city of Dallas is not picking up litter in public parks. Flint, Mich., laid off 23 of 88 firefighters and closed two fire stations. The National League of Cities, and the U.S. Conference of Mayors of 270 local governments found that 63 per cent of localities are cutting back on public safety and 60 per cent are cutting public works. High-tech plants and research labs of companies such as Intel, Applied Materials, General Electric, and BP are moving to China. The United States is expanding its underclass of a whole group of individuals who will become less employable, less integrated, more subject to criminal and other deviant behavior, and probably become part of the larger problem of structural poverty in America as well. As we watch the middle class, and the nation, crumbling you cannot help but wonder if this is a major indication that the US is turning into a Third World country.

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In the 1980s, fewer than a third of Americans received some sort of government benefits. That figure has risen to about 50 percent, At the same time, 45 percent of Americans pay no federal income taxes. If these trends are not reversed, we will soon reach a point at which most of the people have their standard of living subsidized by the earnings of a quarter, or maybe a fifth or fewer, of the rest. No nation can sustain the economic and cultural strength that has graced the United States while transferring so much wealth from so few to so many. Welcome to Socialism.

I’ve been saying this for years. Every bit of this is true. You either have the courage to stand and face it, or be swallowed by it.

America, government benefit, income tax, subsidized, Socialism

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