by Preston James
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The Middle Class in America is shrinking and well on its way to elimination.
The working men and women of America have been asset-stripped bare since the recession of 2008.
After 2008, CD interest rates have fallen from 6% to the current 1/2% – 1%, and the middle class has lost an estimated 42.5% of their accrued assets.
Many in the middle class are now running bare, with no more savings at all and scraping to just survive and keep the lights on.
The stock market has been artificially “kited up” by the secret “plunge protection team” which shortstops all electronic stock purchases for an instant; it is calculated, and then buys or sells to attain its goals. Some insiders have claimed that the USG now owns at least 50% of all stocks through proprietaries and cutouts.
Soon the market will drop substantially, and many of the big boys will make huge fortunes by selling short, because they know when it will drop. Can you say “insider trading”?
Retired folks used to be able to live off of the interest on what they had saved during their many years of employment, but for many no more.
Their savings have been used up because inflation and rising taxes and prices have far surpassed any ability to earn more income. Many are working two jobs just to get by, and are still falling behind further and further each month.
For the last 45 years, the actual value of workers’ earnings in America have significantly fallen in purchasing power. Fifty years ago, most families existed off one income; now for most middle class families, both husband and wife must work full time just to get by, many with a second job too.
The upper middle class and the rich will be the last to be squeezed by falling wages due to a worsening economy; and many feel a false sense of security. But as time goes on, their sources of income will dry up as the middle class shrinks and loses discretionary income.
Incomes of government workers, the upper middle class, and the upper class are best described as “trickle up” economics, where poverty of the middle class eventually deprives the upper crust of their revenue streams. This takes time, but there is a guaranteed result, unless drastic steps are taken to mitigate this failing economic situation in America. Government workers and the rich may be able to hang on the longest, but their days of easy living are now limited too by these harsh realities.
Physician incomes (especially family practice) have become reduced due to the corporatization of medicine. Most large health insurance providers are now for-profit instead of non-profit, with their CEOs often making an income in excess of 100 million USD per year. This would pay for about 20,000 employees, or could be used to greatly reduce premiums.
Americans can afford billions in foreign aid to criminal states, like the racist, apartheid state of Israel, and numerous puppet regimes, and can spend over 9 trillion US dollars on perpetual Mideast wars.
Budgetary abuse of We The People beyond reason?
The USG can finance millions of illegals with welfare, educational, medical and SS benefits, and can lose 2.3 Trillion dollars in sloppy Pentagon accounting. But the USG refuses to provide affordable healthcare to all Americans.
These large private insurers drive up the cost of healthcare, create restrictive RX formularies and are now making most medical decisions for many physicians.
Many families, especially the elderly are going bankrupt because of this massive inflation in healthcare costs, because healthcare insurance has become an incredibly profitable business for those who sit on the board of directors of these corporations.
Taxes keep rising, along with every other commodity, except for the cheap Chinese and foreign goods imported, which have blunted the effects of this worsening situation. These cheap imports have in a sense satiated the American masses and now it may be too late to correct this growing nightmare.
All Pension funds in general are soon to be a sinking ship and cannot be saved from implosion, even government funds – unless the private Federal Reserve System is eliminated and all their assets are seized and clawed back into the US Treasury.
Yes, there are those retired from major corporations, USG, state government and local government that have large stable incomes, and great retirements packages. Most have no clue what is ahead and how it will affect themselves and their families.
When the bust starts, most federal and state pensions will be guaranteed by the taxpayers initially until that becomes financially impossible. Right now it has been estimated that each person carries an accrued debt for these government pension guarantees of 16,000 USD. That obligation is estimated to grow each year until, in about 5-7 years, that debt obligation is greater than all the middle-class earnings.
Let’s consider the financial situation with most pension funds, government and private. These funds were set up by actuaries and statisticians who figured on an average investment return of at least 6%, and it was often 8% or more in a good year.
Now these returns on the average have fallen far below this, some between 0% and 1% return. Long term, no pension fund in America is sustainable with these small returns. Add to that rising inflation and taxes, and there is only one result: a much lower standard of living for retirees, with many losing their homes and becoming the new poor.
This is also true for Union Pensions now and will be soon for large corporate pensions too. In Detroit City, pensions have been severely reduced; and some of the largest unions in America and Canada are now announcing major cutbacks in payouts, some which will cause immediate financial crises for the pension holders.
Bottom line, the lower classes suffer the most first, then the middle class and then the upper middle class and finally the fat cats. Some of the fat cats like these major economic busts because they can buy up massive amounts of real estate and corporations for pennies on the dollar.
But this time, when the system busts, it will likely never come back, and these folks will be out of luck and out of money just like everyone else.
The Black Budget is the major factor in this massive and unprecedented asset-stripping of Americans.
Add to this the secret Black budget for spying, surveillance, Deep Underground Military Bases (DUMBs), and the Secret Space War program, which total between 1.75 Trillion USD and 2.0 Trillion USD against a federal budget of about 3.3 Trillion USD. You can see why Americans are being asset-stripped bare.
Last year, the CIA brought in 1.3 Trillion USD from drug sales – their cut from Afghan Opium and the other central and south American cartels. This means that at least another 1/2 Trillion USD of black funds had to be raised, often from phony DOD contracts, insurance Ponzi schemes and the usual CIA Enron-type scams.
Why is this allowed to happen, and why aren’t Congress and the American masses demonstrating in the streets of America?
First, members of Congress are either paid off, human-compromised, blackmailed or threatened into silenced. Those whistleblowers from the inside who try to go public and change things have the full weight of the USG and Intel brought down upon them. Thus, folks like Russell Tice, William Binney, Thomas Drake, Mark Klein, Chris Pyle, Susan Lidauer, Mark Novitsky, Joe Nachio (and hundreds more) are harassed, sometimes seriously, or ignored.
The true cause of this near complete asset-stripping of the fruits of the American worker is the Ruling Cabal which hijacked American monetary creation and distribution in 1913, with the passage of the Federal Reserve Act, achieved by bribing Congress and the President.
Because the Ruling Cabal runs the Federal Reserve System, they have access to all the money they want, and have bought up, bribed and hijacked every institution in America; and they use the FBI and Intel as their agents of influence.
Very low interest rates, far less than inflation.
Why has the private Federal Reserve System (incorporated in Delaware in 1914) made interest rates so low, wiping out the ability of retirees to live off of their lifetime savings?
The answer is that this is necessary in order to “kick the can down the road” and avoid the financial implosion that should have happened in 2008 when the large, crooked Wall Street Banks were illegally and unconstitutionally bailed out with taxpayer money.
Instead of prosecuting the Banksters for RICO financial fraud and running the world’s largest Ponzi scheme, Congress and the Administration bailed them out after threatening that otherwise America would be immediately placed under Martial Law.
Globalization is reducing American wages at all levels, but more so for the working man and women.
As America continues to become Globalized, the earnings of the middle class will continue to fall and will approach a new third-world standard of approximately $2 an hour unless major changes are initiated.
Long term, social security can fare no better than these failing pension plans.
The USG has been on an uncontrolled spending binge for many years, always spending far more than tax revenues taken in and borrowing the rest from the private Federal Reserve System at a perniciously accruing interest rate.
For Americans to have to pay interest on an illegal, unconstitutional, accrued-interest debt to the private Federal Reserve System is one of the greatest financial frauds ever perpetrated anywhere, anytime.
It has been estimated that approximately 40% of the federal taxes collected is paid to the private Federal reserve System to service the ever-growing, so-called “national debt”.
This fraudulent “national debt” is what the FRS has “loaned” to Congress so it can continue spending money foolishly all over the world on some of the most unwarranted, ridiculous causes imaginable. And add to this all the immigrants (legal and illegal) allowed to enter America, with many getting massive welfare, health, educational, food and benefit packages, especially those given sanctuary.
America is in deep trouble economically and the situation is worsening each month. Within months, the system is likely to crash; and when this seems imminent, most governments create a covering crisis to distract and provide a means to maintain power.
A covering event may be the creation of a virtual war (e.g. like the cold war between America and the Soviets which ended in 1990); or it could be creation of a civil war between CIA and FBI synthetically created groups like Antifa and Black Lives Matter, neo-Nazis, etc.
Most American working folks are so busy struggling to get by that they don’t have the time or energy to get politically active. There is, however, a new populism emerging from the Internet, which is the New Gutenberg Press.
Donald Trump rode this wave of new populism to become president, so it is obviously a major new factor in politics.
It is important to emphasize the effects of a broad spectrum Mind-kontrol program that has been rolled out by the Ruling Cabal to satiate the masses with TV, sports, clothing and styles, mass culture and music, and synthetically created conflicts.
Secret deployment of advanced high-tech psychotronics via sound, EMF (including pulsed beam microwaves, smart meters, Wifi, cell phone towers) is a major factor in tranquilizing the masses.
And the numerous fantasy movies about heroic superheroes with amazing powers satiates men and takes away their desire to get politically active. The reason? Subconsciously they have already been heroes hundreds of times vicariously through the movie heroes, and they feel no need to personally replicate that in their own lives by being politically active.
Popular culture is designed to transform most Americans into passive watchers who do not want to get involved. Most would now just rather work hard at their job, eat fast food and then be entertained by TV and mass media when off.
Social Psychologist with Doctorate from Major Midwest Big Ten University. Retired after serving the community for over 36 years during which time there were numerous contacts with those associated with Intel and Law Enforcement.