Redneck Review!
No. 179 - 9/24/18
Wake up America!  A bit brash perhaps, and certainly not intended for everyone since many locally and in our country are more up to date on current events than the author of this review!  BUT... it still is a worthwhile warning, because the evidence does exist that many of our citizens today are not up to date on forces that can change the future. With mid-term elections coming in a couple of months, choices Americans make can and will drastically impact that future! The intent here is to review such critical topics!
And a type of disclaimer here!  The information submitted in this column and in the next few weeks comes from sources I have found to be very reliable over the last 50 years of reading, researching and teaching. Though not necessarily endorsed by myself as some thing which must be believed, but in my opinion, definitely worth careful consideration! This week we will look at our economy and comments made on it by various authorities.
The following have been taken from national magazines and market reports like NewsMax magazine, Market Update printed in Minnesota and Independent Living which comes out of South Carolina and is printed by American Press.
Ron Paul - well known national political figure: "The very large and growing federal debt will cause a major crisis in the government's debt burden which will be unsustainable. Instead of cutting spending or raising taxes, politicians can be expected to pressure the Federal Reserve to do their dirty work for them via inflation.  The FED may experiment with "negative" interest rates which punish Americans for saving. Continuing to use debt to create more money will erode the dollar's purchasing power and decimate middle class Americans who are already seeing any gains in their incomes eaten away by inflation. One likely scenario is the type of widespread economic chaos not seen in America since the Great Depression... The growth of Marxism... and the willingness of some... to use force against their opponents suggest that an economic crisis will result in civil unrest which will be used to crackdown on individual liberty."
Michael Snyder - conservative economist: "Despite recent favorable headlines, we still see the U.S. heading towards a long-term financial crisis. 1)U.S. consumer credit is at an all time high of $3.9 trillion.  2)Student loan debt is at a record $1.5 trillion (up 79% since 2010).  3) Credit card default has risen 7 quarters in a row. 4)Real wage growth in the U.S. is down by the most in 6 years. 5)People 65 and older are filing for bankruptcy at three times the 1991 rate, and 57 major retailers have announced store closings so far in 2018. 6)The U.S. budget deficit is up 21% over the past two years. 7)Interest on the national debt will pass 1/2 trillion dollars for the first time ever this year. 8)Goldman Sachs projects the U.S. budget deficit will surpass $2 trillion by 2028. Even a possible increase in tax income can do nothing to slow the runaway deficit spending in Congress or the exponential growth of unfunded liabilities."
Fred Hickey - economist: "With inflation rising and U.S. unemployment low, the FED has no choice but to keep raising interest rates... another such hike is a near certainty, putting even more pressure on Americans weighed down with record debt."
Mac Slavo - economist: "This debt problem is so big that it will usher in a global economic crisis of epic proportions... global debt is staggering... and most of it will never be repaid."
Jake Wren

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