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Peter Schiff: Americans Fear Future With ‘Dead-End Economy, Crap Jobs, and Awful Wages’
In the article below by CNN Money, it says that Americans are becoming fearful of a future with a ’Dead-End Economy, Crap Jobs, and Awful Wages, and they have every reason in the world to think that way, because they’ll be lucky if it’s that good. The economy is a disaster, and what little the Fed could do to prop it up a bit by easing interest rates back to where they were in December, it can’t do because the Fed has become so highly politicized, and dropping rates woud go against the Obama narrative.
Obama has made it clear that anyone who says the economy is not doing well is “peddling fiction,” and Janet Yellen is on the Obama train for better or worse. Unfortunately for Obama, that means anyone who knows anything about the economy knows that the Fed is losing all credibility. First, it’s important to remember what Peter said would happen last year if the Fed raised rates. He said over and over they would NEVER raise rates, because if they did, 1) The U.S. stock market would go way down; 2) Gold would go up; and 3) The U.S. Dollar would go down.
In the sense that Peter said the Fed would never raise rates, he was wrong, but only because he was giving Yellen the benefit of the doubt she wouldn’t make such a mistake. Peter was however, correct in everything he said would happen if she did. The price of gold is up, the market has been down all year, and the Dollar dropped below 96, hitting its lowest point of the year.
In the first video, Peter explains the problem Yellen and the Fed face, because the Fed was called out by another economist this week. The question was, if the Fed really is “data dependent” as they claim to be when it comes to determining rate hikes, why no hike?
Inflation is above the 2% target, unemployment is below 5% (HA, but so they say), and 200,000 jobs were created (even though 80% were service sector jobs, and tons of young people are barely getting by so bad that many of them still live at home with their parents in their 30’s), so what’s the problem? The numbers support a hike… so why no hike?
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Simply put: Another hike would CRUSH the economy right now, and the Obama administration has been telling low information voters the economy is fine to protect Hillary’s candidacy, regardless of what the long term effects may be on them as they proceed with their lives thinking everything is fine. The thing is, everyone besides low information voters knows that if an ounce of what Obama has been saying about the economy was true, the Fed would have raised rates. So, while Obama plays politics, he misleads millions of Americans, and plenty of them will be feeling every ounce of extreme pain that comes with a recession when the Great, Great, Great, Great Recession Hits!
Obama doesn’t care. He’ll be out of office. In the second video, Peter shares some ideas that people should think about as ways to make money as the Dollar continues to implode, because not everyone is buying the crap Obama is shoveling. While Janet Yellen has been a good team player, and tells the world consumer confidence is high, one of the top things on every voters mind in the exit polls lately has been fear about the economy. People know Obama is lying, but unfortunately most don’t know what to do about it, so in the next video Peter gives some broad ideas. For a better understanding of just how bad the crash is going to be, the links at the bottom provide a ton of information.
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Jo-Ann was a child prodigy who went to college at age 14. She graduated and landed a coveted job at Citigroup.
Soon she was flying around the world leading meetings. Then she jumped to a management role at a financial printer. She was middle class, maybe even on her way to the upper middle class … until the tech bubble burst. And September 11th hit.
The U.S. fell into a recession and companies cut back. In 2002, Jo-Ann was forced to train the Indian workers that would replace her.
After she was laid off, she struggled to find a good paying job. She melted down her savings and 401k. She got into the trap of working “dead-end crap jobs with crap wages,” including a stint at Walmart.
Her life went from American Dream to Bust. Today she’s in her mid-40s and makes $11 an hour processing payments at a financial firm despite being college educated.
Her story is exactly what so many Americans fear — that they are one step away from financial ruin. It’s why they are drawn to Donald Trump and Bernie Sanders in the 2016 election.
The anger is boiling over
“The anger is boiling over. Enough of the American people have got it through their heads that the American Dream is dead for us,” says Jo-Ann, who lives in Pennsylvania. She requested that her last name be withheld for this article so it wouldn’t impact her ongoing search for a better job.
The economy is the No. 1 issue on voters’ minds even though America is growing, unemployment is incredibly low (4.9%) and gas is cheap.
“I thank God I don’t have a kid. I don’t know what I would tell them,” she says. Her advice to young people is to skip college and learn a trade like plumbing that probably won’t be shipped overseas. She supports Sanders. She agrees with him (and Trump) that trade deals like NAFTA are part of the problem.
Great Recession fears linger
Americans are on edge. Many CNN readers responded to a recent survey about their economic worries. Over and over, people said they were fearful of losing a job, of a health problem that would drain their savings, of wages that aren’t growing and of diminished prospects for their children.
Billionaire investor Warren Buffett argues people are way too pessimistic about the economy. He says babies born in America today are “the luckiest crop in history.”
But Americans fear life could derail quickly, much as it did for many during the Great Recession.
“The job market is tough. People are scared. They aren’t leaving their jobs,” says Ashley Brinkman, 28, of Anchorage, Alaska. She and her husband have jobs they enjoy, but they look around and see mass layoffs in Alaska’s energy sector and cuts to education.
“We are living the middle class dream. We vacation once a year and own a camper,” says Brinkman, who recently received an $11,000 raise as she moved up the ranks from being a bank teller to a management job. But life hinges on staying employed.
Brinkman grew up in a small South Dakota town. She says people there describe this presidential race as akin to “picking the cleanest turd out of the bunch.”
Americans worry for their kids
People are especially concerned about the future for their children.
In a CNNMoney/E*Trade survey this year, 56% of people said they think their kids will be worse off financially than they are.
Ricardo Bustamente has worked for years as a technician at Verizon. He’s often told “do more with less.” He’s learned that means more work for him as others get laid off, but no extra pay.
“My biggest fear is that this country is going to become a nation of have and have nots. People at my level are slowing dying out,” says Bustamente, who is about to turn 43 and has three kids.
He hasn’t gotten a raise in almost 8 years, but his expenses keep going up. He drives a 10-year old car and his wife diligently clips coupons and buys items on sale.
“I’m literally making less money every year,” he says. If he loses his job, his family might lose their house.
Bustamente likes a lot of what Sanders is saying, especially on making college and health care more affordable, but he doesn’t think Congress would ever enact Sanders’ policies. Still, he is glad Sanders entered the race and has influenced Hillary Clinton.
“Slowly but surely I see myself and others around me eroding. We’re definitely not moving up. We’re moving backward,” he says.
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Stop the 2016 Election, and Begin Martial Law Are Goals of Democracy Spring (Video)
Dr. Jim Willie: With Collapse of Dollar, Banks, Bonds, and Other Currencies Go Too
Dr. Jim Willie: US Dollar is Being Surrounded By All Sides; It’s Tragically Comical
Dr. Jim Willie: We’re in the Bottom of the 9th; The US Dollar is Dying (2/28)
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
Jim Willie: When Deutsche Bank Fails, Barclays, Citigroup, and More Will Fall
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: Newest Recession Hiding in Plain View; American Dream Is Dead
Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History
Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
FOR A LONG LOOK AT THE HISTORY OF LIES BY OBAMA:
After Rejecting Obama’s $100,000 Bribe, DHS Whistleblower Was Fired Anyway
Black Reporter Gives a Blistering Summary of Barack Obama!
Obama’s College Records Are Finally Released – What They Say Could Get Him Impeached
What the Father of Lies (Obama) is Hiding About ISIS From You Now
Video: Obama Admits Communist Mentored Him and Taught Him ‘White Racism’
Breaking: Obama Facing Jail Time After It’s Proven He Paid Ransom Funding Terrorists
Alert: Governor Comes Forward, Drops Bombshell About What Obama Is Doing With “Refugees”
Barack Obama’s Lawyer Admits Birth Certificate Is Forged
Obama’s TOTALLY Fictional State of the Union Speech
Unexploded Bombshell: Barack Obama Admits to Being Born in Kenya
PENTAGON: OBAMA LYING TO AMERICA
USA is Hopelessly Led By An Unfit & Improvised Charlatan…
The Lies That Have Subverted Our Beloved Republic
Top 45 Lies in ONE Obama’s Speech at the U.N.
22 BOLD FACED Obama Lies Caught on Film
Investors.com: Is President Obama A Pathological Liar?
Childhood Friend: Obama a Cocaine Smoking, Homosexual, Pathological Liar
Obama Lies: The Best of Collection!
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