X22 Report - Episode 289 - February 13, 2014
National Debt leading to and endless cycle of negative growth. Mortgage companies are laying people off and closing. Mortgage applications, sales, and housing prices are in freefall. It is here. Young people can't find jobs. The US unemployment rate has been manipulated and the unemployment rate, including long term unemployed and the birth-death ratio, is around 30% and massive layoffs are accelerating in all industry.
Companies are cutting costs. People don't have disposable income so sells are down. Companies are trimming the workforce. Sales just aren't there, because of the negative cycle. Retail Sales are down. 100+ days of cars are sitting on American Car lots. There is no way for these companies to sell their way out of the mess. Retail Stores are closing. Revenues aren't coming in, so taxes aren't paid by companies or employees. Governments can't service their debt.
The Fed needs to taper (raise interest rates - cut the cheap money, low interest rates), but they can't; because each time they start to the economy immediately begins to falter. The government has tried everything, but nothing has worked. We will have to see a reset of the system like we did with the Bretton-Woods agreement after World War II.
The Debt Limit has been suspended. As more debt is incurred, revenues will continue to falter. It will be an inverse relationship.
Governments are beginning to look at the confiscation of pensions. They have already stolen your Social Security money. They will do the same with you pension.
20 Signs That The Global Economic Crisis Is Starting To Catch Fire - The Economic Collapse Blog - Michael Snyder, on February 13th, 2014
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