Chris Macdonald: Why you are broke
Do you have trouble making end's meet? Do you feel one paycheque away from sharing a New Yorker with no door on it with a foul-mouthed alcoholic in Sunnyvale Trailer Park? Do you feel time is your enemy? Another day older and not an hour richer? Why is that?
The rich get richer, the poor poorer. In America, the rich argue against social assistance and health care on the basis of flawed theory regarding complacency of the lower classes. Tax cuts and assistance for the well connected in the name of producing jobs continues to be the norm, while mere mention of such things for middle and lower classes is met with anger, garbled arguments, and Fox News on the rampage. Government spending is at an all time high, as politicians scramble to maintain electoral status and feed those who financed their campaigns. The Federal Reserve, or the Bank of Canada up in these parts, spew out Monopoly money at an ever-increasing rate to keep private institutions that control these central banks, flooding the market and causing inflation and higher prices.
The most crucial thing to understand about all of this is Inflation. Prices go up, while wages stay the same—for most of us, anyway. When was the last time you got a salary bonus? The Federal Reserve system is the primary reason people in the middle class are being driven into poverty. The U.S. government under the Constitution has the authority to print interest-free money, as presidents Lincoln and Kennedy did. Unfortunately, they both ended up dead. Coincidence? Money is printed by the Federal Reserve at an interest rate set by private banks. This is what causes inflation and higher prices.
U.S. Democratic Senator Elizabeth Warren argued recently that the minimum wage, if adjusted for inflation, would be over $22 an hour today. Politicians and the media like to look at stocks and the economy as indicators of how a country and how a people are succeeding or failing. But which people? I'm not inciting class warfare here. If anything, there was a war here long before a few moments ago when I sat down to write this. Is raising the minimum wage in itself the solution to our problems? In itself, it seems a Band-Aid solution. While the media hypes up a "strong economy", much of the money goes into the pockets of the already wealthy and well-connected and rarely benefits you. Corporate fascism at its finest. George Carlin noted that the game is rigged. It's not a free market but free market socialism. Free market for the lower classes, socialism for the rich. The economy waxes and wanes, but still the majority feel little benefit. We are told that the increasingly poorer jobs with the lower pay and reduced benefits are a sign that the economy is recovering—people are “back to work”.
Revisiting that great philosopher Carlin, "The rich make all of the money, pay none of the taxes; the middle class pays all of the taxes, does all of the work; the poor are there just to scare the shit out of the middle class—keep them showing up at those jobs!" The only “solution” the politicians have for this problem is to run the printing press to feed the banks, while providing tax relief for the middle class and poor, whose savings are now nullified by inflation and higher prices. You are fighting a losing battle, while the media tells you things are getting better.