The Second Great Depression

It is so important with mid term elections coming that we all should take notice of an undercurrent of financial distress that is poised to strike with unparallel swiftness. The onslaught of a economic catastrophe lies in wait. We have come to realize that we all live in perilous times. The world is a powder keg where any spark could unleash a horror of unimaginable terror. The set on the worlds stage is filled with a savage brutality the likes of which dates back to the Dark Ages. Yet, here in the United States there is a complacency, a reluctance to accept that at any moment our lives and our livelihoods could be thrust into a tailspin of financial devastation. When we here of over 5,000 now unemployed workers in Atlantic City this past Labor Day one can actually see that we have to accept the fact that the US economy really isn’t what the media claims.

Now, with more imposed sanctions against Russia coming out of Washington and Europe we have inadvertently created more economic imbalance right here in the US. Many economists are certain that a economic Tsunami is fast approaching. There is a clear and present danger not only with ISIS and the crises in the Ukraine but a looming disaster lies in wait right under our noses. A recently released report by the 16 branches of our Intelligence Community specifies that the US dollar will fall as the global reserve currency.

Today, it is not a question of if the dollar will fall but a question of when. When it does our reign as the world’s leading super power will cease. So far our political leaders and even the Federal Reserve are either oblivious, ignoring or just don’t think that a financial and economic collapse will develop and send the world into a global depression. The warning signs are all around us though, yet the complacency of our political officials remains intact. With the rest of the world on the brink of chaos we have political leaders that continue to miss the boat on our fiscal policies and our international interventions. Miss the boat they not only missed the boat they are no where near finding the right pier. For years the United States has maintained the rational that has only exasperated the deteriorating conditions at home and abroad.

We are already on the verge of entering the darkest economic period in our nations history. With at least three international crisis occurring simultaneously have put the world closer to the brink of World War III questions have to be asked. Are the drums of war sounding revelry where armed forces march off to war? Or are we poised to unleash the unthinkable upon those insurgents that are hiding under their cloaks of misshaped ideologies? Do we dare impose more sanctions that Ukraine updates    only serve to come back to bite us? Are our elected officials too blind to see that their policies, treaties, decrees and laws for the past thirty five years all they have done is encourage more imbalance in our society and opened the door for more instability through-out the world? Do we have the right leadership to steer this nation out of troubled waters?

One can emphasize that from the onset of World War II ordinary men were called upon to do extraordinary things. They rose up and met the challenge head on with unwavering resolve. Men like Roosevelt, Churchill, Generals Patton, Eisenhower, McArthur and so many more whose heroism made it possible to end the global conflict of World War II. Today, the world is once again threatened by a ruthlessness not seen since the defeat of Nazi Germany. And, complicating matters is the fact that current fiscal policies within the US have opened the door to an financial calamity that is poised to annihilate millions in bank accounts all across the country leaving those millions so destitute making the Great Depression of the 1930’s pale in comparison.

The greatest threat to our national security is not ISIS or Al-Qaeda but our reckless fiscal policies by the Fed and our Treasury for the past 40 years. With this past Labor Day Weekend massive layoff of thousands of workers only underscores that the national unemployment figures are closer to 25% and not what is reported by our main stream media or our elected officials either. With unemployment figures this high there is more of a probability that we are in the beginning of a major sociological upheaval worse that we have ever faced. We would be wise to remember that the beginning of our failings in financial and economic policies was made was back in the early 1970’s when then President Nixon took the financial markets off the gold standard. The fallout from that sent this country in a prolonged recession. Energy prices soared and inflation took root. Ever since then the dollar has continued to fail to gain the power it had during the 1950’s and 60’s.

What we are seeing today is the hard cold reality that the US is already in a Depression. Undeniable fact that over 1/3 of our population are already dependent on Food Stamps. As much as people relate the Depression of the!930’s with soup kitchens, today those soup kitchens are in the many shelters all around the US that serve homeless individuals, families, and so many other people who can’t even afford a hot meal is the reality we face today. When we put this into perspective we come away with what many economists call a Misery Index. The misery index = the real inflation rate + the real unemployment rate. Now, if we compare the Misery Index today to the energy crisis and the period of stagflation of the mid 70’s and early 1980’s today that Misery Index is far worse. If left unchecked and allowed to grow puts this nations future in grave risk.