Economic Articles from 2021
Debt and the Demise of the Middle Class
by Charles Hugh Smith
Posted April 5, 2021
Unfortunately for those at the top who’ve benefited immensely from speculative bubbles, speculative bubbles don’t create a vibrant middle class–they push what’s left of the middle class off a cliff.
What exactly is the Middle Class and what unique role does it serve in the economy? Given that the Middle Class is constantly invoked by politicos and economists, you’d think the status quo had a solid understanding of the Middle Class. Alas, it isn’t that simple.
The conventional view defines the middle class by income, education or type of labor being performed. These are all superficial attributes and ignore what actually differentiates the working class from the middle class. Yes, the middle class tends to earn more, have higher educational credentials and perform white-collar labor rather than blue-collar labor. More…
IMF Wants To Use “Digital Footprint Of Customers’ Online Activities” To Assess Creditworthiness
by Robert Wheeler
Posted April 2, 2021
For years, researchers have warned of a system in which the government controls every aspect of its citizens’ lives. Every citizen would have to rely entirely on the government to survive in this system. This system has been openly discussed for many years by the “ruling class.” Aka: those who have been allotted social credit (or not) and power based upon their views and opinions.
And you thought it was challenging to gain approval before…
The pairing of online history with credit scores is bad enough. Doing so has prevented many otherwise creditworthy citizens from accessing what they need to start businesses, buy homes, rent apartments, or buy cars. Some states have suggested laws that use your search history and social media when being assessed for your worthiness to purchase a firearm, and the Bank of America has made it incredibly clear just this past week that your purchases and financial records are by no means private.
However, pairing both of those with the Universal Basic Income is even worse. We are fast approaching a time where even the slightest difference of opinion from the norm (i.e., the ruling class) can result in a complete freeze out of the “offender” from the entire society. More…
YouTube Financially Deplatforms Swath of Indie Media
by Caitlin Johnstone
Posted March 30, 2021
The Google-owned video sharing platform YouTube has demonetized numerous independent media accounts, a jarring escalation in the steadily intensifying campaign against alternative news outlets online.
Financial de-platforming is censorship. People were given an opportunity to devote themselves to the vocation of creating media outside the gatekeeping apparatus of billionaire news institutions, which is arguably the single most important vocation anyone can give themselves to in our world right now, and they built their lives around their ability to do this. Now it’s being ripped away from them; their literal jobs are being taken away. They were offered a reason to think they’d be able to make a living doing very important work, and then they were sucker punched with what amounts to political censorship.
This has been a continually escalating trend for years. The general population is herded onto huge monopolistic social media platforms offering democratization of information where your voice can be heard, and then those platforms proceed to censor an increasing amount of political speech in increasing coordination with the U.S. government. More…
[Economic] [Community] [Social]
Here’s What A Cashless Society Really Means
by Amy Bailey
Posted March 19, 2021
A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’.
* Banks have full control of every single penny you own.
* Every transaction you make is recorded.
* All your movements & actions are traceable.
* Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.
* You will have no choice but to declare & be taxed on every pound in your possession.
* The government WILL decide what you can & cannot purchase.
* If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’. More…
[Economic] [Social] [Political]
Lockdowns Wrecked Democracy around the World
by James Bovard
Posted March 13, 2021
While the number of fatalities attributed to Covid-19 is carefully tracked by governments, few people have recognized how pandemic-spurred crackdowns have devastated democracy around the world. Emergency proclamations have entitled presidents and other government officials to seize vast new powers previously forbidden to them. Government bureaucrats became a new priesthood that could sanctify unlimited sacrifices merely by invoking dubious statistical extrapolations of future perils.
When the pandemic arrived in America, governors in many states responded by dropping the equivalent of a Reverse Neutron Bomb – something which destroys the economy while supposedly leaving human beings unharmed. New York Governor Andrew Cuomo set the standard when he effectively declared that he was entitled to inflict any burden on his state’s residents to “save just one life.” Michigan Governor Gretchen Whitmer prohibited anyone from leaving their home to visit family or friends. Los Angeles Mayor Eric Garcetti banned people from walking or bicycling outside. More than ten million jobs were lost thanks to lockdowns, a major reason why life expectancy in the United States last year had its sharpest plunge since World War Two. More…
Returning to Slavery: The Great Reset, Tracked & Traced, and a Cashless Society
By Dr. Joseph Mercola
Posted March 11, 2021
According to Catherine Austin Fitts, the purpose behind the lockdowns is to dramatically centralize economic and political control.
In short, the aim of the lockdowns is to make people dependent on government aid by destroying their ability to earn an independent income. She gives the following example:
“We have 100 small businesses on Main Street in a community. You declare them nonessential, shut them down, [and] suddenly Amazon, Walmart and the big box stores can come in and take away all the market shares.
The people on Main Street have to keep paying off their credit cards or their mortgage, so they’re in a debt trap, and they’re desperate to get cash flow to cover their debts and day-to-day expenses.
In the meantime, you have the federal reserve institute a form of quantitative easing where they’re buying corporate bonds and the guys who are taking up the market share can basically finance at 0% to 1%, while everybody on Main Street are paying 16% to 17% interest on their credit cards without income. So, basically, you’ve got them over the barrel and you can take away their market share …” More…
A Christmas Carol and the Rise of the Debt Society in the 21st Century
By Keiko Yokoyama
Posted March 10, 2021
The development of the banking system was related to religious values and sovereign debts. Originally, the Catholic Church, as well as other Abrahamic faiths such as Islam and, within the confined community context (monetary interaction between Jewish people, not between a Jew and a non-Jew) Judaism, forbid usury or the act of money lending with interest at any rates.
People in the ancient and medieval periods considered it an act of economic exploitation and injustice by the privileged against the poor by using these financial instruments. It was (and in the Islamic World still ‘is’) economic exploitation because the wealthy take advantage of the desperate condition of the poor.
It was injustice because the acts often make the poor to be trapped into lifelong debts without debt forgiveness. ‘Debt’ was a concept associated with slavery (serfdom). Mortgage meant ‘death pledge’. The religious ban restrained the expansion of money lending activities in the Christian world up to around the 13th and 14th centuries, when Italian banks such as the Medici Bank were created and started to influence other parts of Europe financially as well as culturally. More…
Bill Gates Buying Up Huge Amount of Farmland While ‘Great Reset’ Tells Americans Future is No Private Property
Bill Gates Buying Up Huge Amount of Farmland While ‘Great Reset’ Tells Americans Future is No Private Property
by Paul Joseph Watson
Posted March 9, 2021
While Americans are being told by ‘Great Reset’ technocrats that the future is one without private property, Bill Gates and other billionaires have been buying up huge amounts of farmland.
Indeed, Gates is now the biggest owner of farmland in America, according to a Forbes report. What billionaire philanthropists and technocrats are acquiring land at an accelerating speed, they appear to be telling the general public that in the future private property will virtually cease to exist.
In his books, World Economic Forum founder and globalist Klaus Schwab makes clear that the ‘Fourth Industrial Revolution’ or ‘The Great Reset’ will lead to the abolition of private property.
Apparently, you won’t be allowed to own any private property and your only recourse will be to live in a state of permanent dependency on a small number of rich elitists who own everything. That used to be called feudalism, which is a form of slavery. More…
A small group men whose wealth is rapidly accelerating are buying up the planet and if this continues they will ultimately own everything.
What will the world look like once the people are all crowded into cities owned by the rich, buying in stores owned by the rich, renting housing owned by the rich, and working in corporations owned by the rich, and policed by those paid by the rich. This will take the world into a place where the “company town” is replaced the “company country” or even the “company planet”. Think “Hunger Games”.
One of the Greatest Economic Blunders in History
By James Rickards
Posted March 6, 2021
When the pandemic passes, and we are able to look back on the experience without fear or political bias, it will be clear that the lockdowns were one of the greatest economic blunders in history. Lockdowns do not stop the spread of the virus, but they do destroy the economy. This is not merely a matter of opinion or conjecture.
The pandemic has now lasted long enough that we have solid comparative data from all 50 U.S. states and many countries around the world. This data covers states and countries that tried extreme lockdowns, moderate lockdowns or completely voluntary methods that involved no mandatory lockdown at all.
The empirical results show that the experience of all of these jurisdictions was about the same and that lockdowns have not “contributed in any meaningful way” to saving lives. In fact, there is other evidence that shows lockdowns killed more people than they saved due to suicides, drug abuse, alcohol abuse, domestic violence and depression. More…
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