Two Signs Hard Times Just Got a Little Closer
A video by The Revolting Man, points out two important economic occurrences that show the economy is not getting better. In reality it is sinking down, step by step. The Federal Reserve is aiding that decline, by raising interest rates, just as they did in the Depression.
Oil is dropping in price because of a lack of demand. It is plain to see, though the Fed and Wall Street claim it is because of an over-supply. Demand for oil has decreased.
For years, States and Municipalities have granted overly generous pensions to their government employees, even as they have been under-funding those pension obligations. The drain on government budgets is enormous and the bill is coming due. Illinois is in fiscal trouble. Other States are struggling. The can can only be kicked down the road for so long, before the road finally ends.
The economy will not come crashing down, as some fear. It is enduring a slow death, like death by a thousand cuts. Are you prepared?
[ot-video type=”youtube” url=”https://youtu.be/13rQwyCc3_4″]
John, at the Prepared Mind, offers his take on what is happening, and what to do about it.
[ot-video type=”youtube” url=”https://youtu.be/BOm5PLevO8M”]