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It's The White Guys Fault After All!!!!!
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Joined: 30 Aug 2000
Posts: 69
Posted: Sat Jul 28, 2012 12:26 pm
Post subject: It's The White Guys Fault After All!!!!!
The low Melanin Scores for Hitler(MS15), Stalin(MS?), Marx(MS?), Soros(MS15), Reed(MS13), Pelosi(MS12) should have been a tip off before now to where the blame lies. Farrakahn(MS65) already warned us about "the skunk of planet earth"
So now this begs the question: Why was Obamas' father(MS78) and Barry Obama(MS55) so intent on realizing the insane fantasies of retarded white guys?(all MS<30+-)
(Melanin Scores are approximate. If we take a quick scan with a HunterLab Color Meter on the forearm of everyone we could have a precise L. a. b. number to stamp on a dogtag to be worn around the neck. That way the Democrats would have an easier time when faced with actions of people they don't know already. They could just get the number and know what pair of beer goggles to slip on that would have the judgmental parameters template already loaded for them. Skin color is critical, but that is also modified by considerations of religious affiliation, and political party. Witness the hatred of Democrats for Palin(MS10, woman, usually protected class), Herman Cain(MS65, scores this high usually protected class) Clarence Thomas(MS68, usually protected class) Ted Kennedy(MS14, murderer, protected if Democrat).)
And now , allow me to introduce a brilliant American...
WARNING: The following presentation is intended for mature audiences. It contains potentially disturbing footage and coarse language about the sensitive issues of race and class in America today.
The opinions expressed here are solely the views of the author. Do not continue viewing if you are easily offended by this subject matter.
My name is Porter Stansberry.
I'm about to bring up a subject most people would never mention not to anyone. In fact, there's almost a national taboo about this subject.
It has to do with race, for one thing. As you know, even simple observations about the cultural differences between various groups of people in America are normally off-limits for discussion.
I don't care.
There are things happening in America right now serious problems that we could easily fix. But we won't, as long as everyone is afraid to talk about them.
These problems keep me up at night. They make me worried about the future for my two young sons. I know you'll recognize these problems; I know you're worried about them too...
You see, I'm convinced that something has gone terribly wrong in America.
It's not only the problems I can articulate for you here. It's not the statics alone. It's not just the soaring unemployment... or the rise of public graft... or even the failure of so many of our most important corporations. Yes... these things are all part of it... but there's something else out there that scares me even more. It's something that's very hard to put your finger on... but I bet you've felt it too.
Or even seen it with your own eyes...
I'm talking about the problems that caused the decline our neighborhoods. The problems that left whole cities in America looking more like Beirut or Baghdad than a part of America. But I'm not only talking about our big cities...
These same problems have soured the American dream for millions of regular people, from all over our country. The 'deal' we all strike as members of this society, has been corrupted. It has been ruined, leaving families everywhere without any viable way to live and work with dignity.
I'm sure you've seen people work hard, and make all the right choices... yet STILL not be able to retire, or be able afford a decent place to live, or to pay for their medical bills.
So why is it, for example, that today, in the greatest country on Earth...
Half of all Americans, at some point in their life, will be on food stamps before the age of 20? That's an incredible statistic, isn't it?
And when you look at only America's black population, the numbers are even more alarming: Did you know that 90% of all black children will be on food stamps at some point in their life?
Yes, that's right.
I just mentioned a minority group and the special problems that threaten their communities. I'm going to do it again and again throughout this report because if we're not even allowed to talk about our problems, how can we possibly hope to solve them?
So... what's causing these problems? What really lies at the heart of the economic and culture rot that seems to have infected so much of modern life...?
The problem isn't poverty. The poor, as they say, have always been with us. This report isn't about poverty or how to cure it. No... what's new in our country is that so many people seem to have cut a secret deal.
While millions of Americans struggle, a few lucky Americans have found a way to get lots of money without really working at all.
How is it that, according to the LA Times, in a place like Ventura County, California, 84% of retired county employees with pensions over $100,000 are now receiving MORE money per year in retirement then they ever did while working?
And how can it be possible, in this nation of incredible opportunity, that over the past 50 years, the percentage of working age men in America who have convinced the government they are "too disabled" to work has gone up 5-fold?
After all, advances in medicine have cured or eliminated many of the problems workers had 50 years ago, right? And many of the backbreaking jobs of the 1960s are now automated... or done with machines or computers.
Yet the percentage of the American workforce that has convinced the government it is "too physically or emotionally handicapped to work"and thus receive a handout from the government every month has gone from 1% of the workforce to an astonishing 5% of the workforce.
Something has gone terribly wrong in our country.
Something has corrupted our society in a profound way, to the point where most people in our country think it's 'normal' to defraud the government... or refuse to pay their debts... or even steal from their employers...
Did you know America has only about 5% of the world's total population... yet we have nearly 25% of the world's prisoners! We've become a kind of cultural Banana Republic, where criminals and prisons are a growth industry.
And why is it that, per capita, America has one of the highest divorce rates in the world?
Why do we have 40% of the world's TOTAL credit card debtmore than the next seven countries combined?
Why do we have the highest corporate taxes?
And more drug use (legal and illegal) than any other country?
Why do we have the highest percentage of eating and mental disorders?
And the greatest income disparity between the rich and the poor, among major developed nations?
These are not pleasant problems to talk about. But I'm sure you've either seen these issues first hand or you've thought about them a lot over the last few years.
Something has gone wrong with America. Something that's critical to our national prosperity... something that jeopardizes the future for our children and ourselves. Something that threatens both the financial order (like the stock market) and the political order... What lies at the root of these problems? What links them all together? What's the explanation, in the simplest terms for what's destroying our society...? Well... conservatives blame the Leftist media. And liberals blame the greedy Right.
The 99% blames the 1%. The 1% says "don't look at us," it's Congress who makes the rules.
Schoolteachers blame terrible parents. Parents blame the teacher's unions.
Arizonans blame Mexicans. Christians blame Muslims... and gays.
But the truth is, that's all just smoke and mirrors.
My guess is you've never considered the real root of the problem in our country. I've been studying it and writing about it for a few years. I'd like to share my findings and my thoughts with you today.
I want to see if these ideas resonate with you. I think they are very important to understanding what is going to happen in America over the next few years, and how best to prepare yourself for what's in store.
All I ask is that you watch to the end.
Some of the things I have to say are very likely to shock you, or anger you... at first. But I don't want you to take a part of this message out of context. You'll see that these ideas are all based on simple facts. As a society we've been ignoring a few core principles of human nature. And we can't get away with that for very much longer...
You see, I believe these economic problems are really only a reflection of the more important things our country has lostlike our sense of honor, humility, and the dedication to personal responsibility, which made America the greatest hope for mankind for more than 200 years.
And so the REAL answer to what's causing so many problems in America today is what I want to explain in this analysis.
You see, I have an ideawhich I believe I can prove beyond any reasonable doubt with my researchabout exactly what has gone wrong in America over the past 40 years.
I also believe that, as a result, I know exactly what will happen next, in our political system, and in our economy. I want to show you how to best position yourself and your familyfinanciallyfor the future.
After you read this report, you'll probably wonder... "How did he get away with writing all of those things? Nobody else talks this way about our country, about different racial groups... about personal responsibility."
And that's true... I have a long history of writing and publishing ideas that are offensive and threatening to certain special interest groups.
But since I launched my own research and publishing company more than a decade ago, my goal has always been to help people by exposing the truthno matter what the consequences.
After reading this report, you won't be surprised to learn that I've been sued by the Securities and Exchange Commission (SEC)... and also by the State of Maryland. I've been threatened with major lawsuits by the Social Security Administration... Wal-Mart... a famous Boston University Professor... and a big law firm, just to name a few. In total we've been threatened with over $20 billion worth of damages in lawsuits lawsuits that would have left me penniless.
So... why do it?
Why continue to fight these uber-powerful people and their armies of lawyers?
Because, most of the time, our controversial analysis is the only thing available to help the general public understand what's really happening in our country's most important institutions like in the stock market, or in our hospitals, or deep inside our banks and insurance companies.
Our proven ability to gather this kind of critical information and our willingness to publish it no matter what is why we've become indispensible to so many people around the world... folks who've learned to not always trust what they read in the paper or see on TV.
That's how we have become the largest independent financial research publishing company in the world, with more than 400,000 paying customers in over 120 countries. In fact, as far as I know, no other publisher in our industry comes even close to the dedicated following we have earned.
In my mind, that's the strongest endorsement any business can ever get. It's also what allows us to take on these incredibly powerful institutions and, more often than not, to win. It's our subscribers who provide us with the unwavering support we need to write these kinds of reports things that no one else can afford to say.
The report you're reading right now will probably spark more "blowback" from the authorities than we've ever faced before. This report details some of the core problems in our country... and then shows who is responsible. Nobody else is willing to say these things things that desperately need to be addressed.
As you know, in our society most people "shoot the messenger." As with other work I've done, I'm sure this work will result in loads of hate mail and perhaps even death threats.
Unfortunately... I'm used to that.
Yes, I've had my life threatened merely because of things I've written. Like my prediction in 2007 that General Motors would go bankrupt. Some shareholders actually accused us of being responsible for the failure of that iconic American company. In fact, our reports were simply warning both shareholders and the management team that failure was inevitable without immediate and massive changes to the company.
Keep in mind, our firm doesn't manage money or do any trading. We were only writing about the problems, in an effort to inform the public about the company's imminent demise.
Nevertheless... there are many people in our country these days who will violently oppose even the publication of information that threatens them or attacks some special privilege they've finagled. That's why I've built a veritable fortress to safeguard my family and why I've turned my office in Baltimore into something like a modern day castle, with a 12-foot brick wall, steel gates, and computer-controlled video and entry systems. When I invite people over for a meeting, I literally say "Welcome to the castle..."
It's crazy but that's what's happened in America today.
We even had to establish a special area of our basement for all of the thousands of pieces of hate mail we've received. Most of these letters came in response to my accurate but controversial predictions regarding the collapse of some of America's once-favorite institutionssuch as Fannie Mae, Freddie Mac, and the country's biggest mall owner (General Growth Properties). That's not to mention my research showing that all of the solar stocks (like First Solar) would go under (which is happening right now) or that Social Security is really only a giant Ponzi scheme.
Nothing upsets people more than simply showing them the facts that some of their most cherished ideas are nothing more than frauds.
And wait until they see this report...
It's all going to get 10-times worse. I wouldn't be surprised if my passport was revoked... or if the government tries to put me in prison for some trumped up charge. You might think that sounds crazy, but remember, they've frozen my bank accounts once already. They've already put me on trial, once before.
So... why bother?
Why not leave well enough alone? Why spend my life making enemies? Why not just get on the bandwagon like everyone else...? The truth is, I don't know. I've always been this way. I've been dedicated to helping people overcome the odds against them my entire life. The best way I know how to help people do better in America is to show them the information they don't have, about how to get a leg up in our society.
We've published secrets about the government's pension programs about how they were rigged to give some people way more benefits than others, but only if you knew about the insider "loophole."
I've published reams of information about how to position yourself in certain kinds of discounted corporate bonds, in certain kinds of special stocks (that don't have to pay taxes), and even how to take advantage of big investors in the options market something that's not right for everyone, but that I believe everyone ought to know about and understand.
They don't teach you this kind of stuff in school... because it can make you a lot of money. And most people... once they understand it, keep the expertise for themselves. I've always been addicted to sharing this kind of valuable information. It's my passion in life to see people doing better and living better because they have the right information.
That's the main reason I'm speaking up now. Someone has to point out what's really wrong with our country so we can fix it before it's too late. Someone must say these things... someone must point the finger.
I have the resources to do so. And, frankly, I'm probably one of the only people in the country that's willing to take the heat for doing it.
So... I've done it. It's right here in this report.
Let me be very clear about one thing, up front. Don't read this report just for "news" or for my view. I'd recommend you take careful notes and be prepared to take some of the actions I'll recommend quickly.
An accurate understanding of what is going on in America right now is critical if you want to survive the next few years. Literally survive.
These ideas and the problems we face are much more important than the stock market, the bond market, the elections, or anything else the mainstream press has chosen to latch on to.
Here's what I want to explain today, which no one else will tell you:
Middle-Class White People Are Ruining America
And their nextand greatestcorruption is going to have a huge
impact on your family over the next few years
I realize this probably sounds like a shocking statement.
Middle-class white people are ruining America. What? He can't be serious.
Yes, I am. In fact, the evidence is undeniable, as you'll soon understand.
I'm going to show you exactly why I believe this is true and I'm going to give you all of the most thoroughly researched evidence that's available to the public. I want you to see America's problems clearly in a way that's free of any bias. I want you to think carefully about what has happened over the past 50 years... and what is practically guaranteed to happen over the next few years... because it's going to have major implications for you and your family.
The data I want to show you proves something you have probably felt for many years. And before I go any further, please recognize that in this presentation, I make several arresting claims about the present state and future of our country.
Understand I am only writing about the facts as I find them today. I am drawing conclusions based only on the situation as it stands. I am not saying that these conditions can't improve. Or that they won't improve.
The truth is, I am optimistic.
I believe our country has major, major problemslike nothing we have ever faced before. But I also believe that... sooner or later... Americans will make the right choices and put our country back on sound footing.
Please pay careful attention to the data I cite.
And feel free to send me corrections to the facts if you find any errors. I will happily publish any correction that can be substantiated. But please don't send me threats, accusations against my character, or baseless claims about my lack of patriotism.
If I didn't love our country, none of these facts would bother me.
I wouldn't have bothered compiling this analysis in the first place.
I know the topics I will be talking about are politically charged and emotional issues.
And my conclusions will not be easy for most readers to accept.
Likewise, many of the things I am talking about here may challenge you to re-examine what you believe about our country. You see, the facts about America today tell a painful story about a country in steep decline, beset by problems of its own making.
I am sharing these ideas today because I know we have arrived at the moment of a long-brewing crisis.
And I believe it is critical for people to understand how we got here, what is most likely to happen next, and how to make the best of a situation that seems to be only getting worse.
Our political leaders, our business leaders, and our cultural leaders have made a series of catastrophic choices. And we, as citizens, have made some terrible choices as well.
Let me show you exactly what I believe has gone wrong, and what you MUST do personally over the next few years, to prepare for what's coming next...
What Is Wrong with the
White Middle Class?
From the very beginning, what made America different from the rest of the world was one simple fact:
This was a place where people were free to be individuals, to take responsibility for their own lives, and to spend their time however they saw fit.
For several hundred years we were, as a group, a nation that believed that life was to be spent doing important things...
Like working hard, learning a worthwhile skill or trade, supporting yourself, being a good friend and neighbor, and raising a family.
And at the heart of what made America so successful were the twin "middle class" virtues of industriousness and self-reliance.
We worked very hard. And we took care of ourselves...
Our hard work and self-reliance truly amazed the rest of the world. As the German-born journalist Francis Grund wrote during a decade of living in America in the mid-1800s: "I have never known a native American to ask for charity. No country in the world has such a small number of persons supported at the public expense..."
The historian Charles Murray recently pointed these things out, and added that for most of our nation's existence, the majority of Americans actually viewed themselves as "middle class" or "working class."
In fact, he cites a Gallup Poll taken in the fall of 1963, which showed that 95% of the respondents said they were either "working class" or "middle class."
What this means is that poor people refused to identify themselves as poor... and rich people refused to identify themselves as upper class. We all wanted to be seen as people who worked hard, and took care of ourselves.
But over the past few decades, we have witnessed a complete corruption of America's middle class and our middle-class values.
And as a result, we have seen what I call, "The Corruption of America."
American self-reliance and industriousness once fascinated the worldbut now we've become a country of entitlements and greed. Of "taking" as much as possible... even if you don't deserve it, don't need it, and didn't earn it.
The working-class and our middle-class values have essentially disappeared... and look what we're left with instead...
On one end of the spectrum, we have people who used to be considered "middle class," now seeking handouts and freebies once reserved only for the neediest poor. It's a fast-growing percentage of Americans (emboldened by socialist policy-makers) who truly believe their well-being is primarily someone else's responsibility.
And on the other end of the spectrum, we have an upper class that has completely abandoned their middle-class values, and has instead adopted a "get mine at any cost" mentality.
Here there's a festering of greed. A desperate grab for money and power... from the highest government officials and senior corporate leaders all the way down to schoolteachers and local community leaders.
The ethos seems to have changed from one of personal integrity to "getting mine" the all-out attempt, by any means possible, to get ahead. It's every man for himself... no matter what the social cost.
The new American way (for both the upper and lower class) is to legally rig the game in your favorat the expense of everyone else.
How can I prove this?
Well, one thing we can do is examine what's happened to the white middle class over the past 50 years.
Why focus only on white people?
This is a critical question. Please... think about this question for a minute. I'm certain 99% of the criticism about this report will happen because most people won't bother to read the next few paragraphs or to think carefully about why I've chosen to focus on the white middle-class cultural decline.
You see, when you look at the population as a whole over the past 50 years, there are many factors that come into play, including civil rights, discrimination, affirmative action, immigration, the availability of education, etc.
But if you focus only on what's happened with America's white population, you eliminate many of those extraneous factors.
White people have always had plenty of opportunities in America. In fact, because of the advances in technology, I believe the opportunities for white men and women today are greater than ever.
But the numbers tell a very different story...
Why Have White People
Stopped Working?
It used to be that if you were a healthy white male in America, and you didn't have a job, you were considered a bum.
But today, that stigma no longer exists.
Consider, for example, the weakening work ethic among white males in terms of what's called the "labor force participation" rate.
Labor force participation is the economists' way of saying: How many people are willing to work when offered a job.
I have to thank social historian Charles Murray for his analysis of this data. It comes from his brilliant book, Coming ApartThe State of White America, 1960 to 2010.
What's most startling, I think, is to look at the white male labor force participation data from 1960-64... and compare it to the exact same data 40+ years later, from 2004-08.
Incredibly, but perhaps not surprising, is the fact that the percentage of white males who are participating in the workforce is declining for every single age group. See the chart below...
Now some of these differences don't mean much.
For men in their early 20s, the differences can probably be explained by the fact that college and graduate school are much more popular now than they were 50 years ago.
And for men in their late 50s, the decline in workforce participation is probably due to the simple fact that many more men today have pensions or savings that have enabled them to retire early compared to the 1960s.
But what's going on with white men who should be in the prime of their working careers... the 30 to 49 age group?
The percentage of white males age 30-49 who were out of the labor force from 2004 to 2008 is three times higher than it was in the early 1960s.
Now... I know what you're thinking... "unemployment is higher now"... and "there are no good jobs today."
To be frank, that is complete B.S.
You see, the period from 1995 to 2008 was one of the biggest economic booms in American history. During those years, there were "help wanted" signs everywhere.
If you weren't working during these years, it wasn't because of a lack of jobs.
In fact, overall unemployment in 2004-08 was lower than it was in the 1960s.
Yet the percentage of the white men, ages 30-49, who were not participating at all in the workforce, was three times higher than it was 50 years ago.
And what about the claim that "there just aren't enough 'good paying' jobs available" in recent years...
Well, according to Murray's analysis, in 2009 (which was a very, very bad year economically), the median hourly wage for delivery truck drivers was $13.84 per hour.
For carpenter's helpers: $12.63, for building cleaners: $13.37. That means all of these jobs, assuming you work 40 hours a week, 50 weeks a year, enable you to bring home between $25,000 and $28,000 a year.
Not great, but certainly enough to live on. I know I've certainly lived on much less. And these levels of income are twice the poverty rates, even if you are married and your wife doesn't work.
The only conclusion that makes any sense is that a substantial number of prime-age white working age men have dropped out of the workforce for no apparent reason...
Other than the fact that industriousness and self-reliance are simply not as important in America today as they were 50 years ago.
Let me say that again clearly, because this is a critical point:
Essentially, the only reason why fewer middle-aged white men are working today is because our values have changed. We as Americans no longer value self-reliance and industriousness, as we did 50 years ago.
And there's more evidence of the weakening work ethic among the white middle class today too...
The Best Job in America Today?
For many years, the National Opinion Research Center out of the University of Chicago has conducted a very interesting survey.
In short, they talked to people who are looking for work, to find out what attribute of a potential job is most important to them.
Back in 1972, the Research Center conducted a survey of prime age white males looking for work, and asked them to choose the one thing they most wanted in a job, among the following choices:
- High income
- No danger of being fired
- Chances for advancement
- Working hours are shortlots of free time
- Important work that gives feeling of accomplishment
Between 1973 and 2006, the shift in white men's attitudes towards work is startling...
For example, Murray notes that the number of white men who said "important work" was their #1 requirement in a prospective job dropped by 25%.
On the other hand...
The number of white men who said their #1 priority was "short working hours" went up by more than 100%... and the number of people who said "no danger of being fired" was the most important job characteristic also shot up by 100%.
Pretty amazing, isn't it?
The point is, we as Americans view work much differently today than we did 50 years ago.
People today are much less interested in meaningful work, or the opportunity for advancementand are more interested in a secure job, with short hours... where they can't get fired!
I'm continually amazed at the number of people I meet who either work for the government... or want to work for the government, because they will never be held accountable for their work, ever again.
This is probably why, according to The Wall Street Journal, today more Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining, and utilities... combined.
It sounds like Europe to me.
You may think this sounds racist, but most Europeans I meet are much more interested in fun and leisure than they are in meaningful work. And most Europeans I know truly believe it is the government's responsibility to take care of them... from the cradle to the grave.
I've seen this stuff firsthand... and it's truly shocking to me.
Several of my business partners have offices in Spain, France, the UK, and Ireland.
In France, they literally have police officers who patrol offices at the end of the day to make sure people aren't working too many hours. In Ireland, it's basically impossible to fire even the worst and laziest employees... even now, when the country is going through its worst economic crisis in 50 years.
Government employees in all of these countries shut down the airports and train service at the slightest hint of a reduction in cushy benefits. Students launch massive protests at any notion of them being required to pay for any of their university fees.
All over Europe there are short work weeks and two months plus of vacation time a year. There's also a precipitous decline in marriage (far worse than in the U.S.) and a dramatic decline in people having children.
I love visiting Europe, but I certainly don't want to live there... and I definitely don't want our country to become more Europeanbut that is the direction we are headed.
Again, our unique, American "middle class" ethics of hard work, self-improvement, personal accomplishment, and self-reliance are disappearing.
Looking again at only America's white population...
Consider, for example, the percentage of the white population that's in trouble with the law these days...
From the year 1980 to the year 2000, some studies we've seen show the percentage of the white population in America that was on probation, has tripled. And the percentage of the white population that was on parole tripled as well.
I know, it's not only middle-class whites who have lost their way.
But as Charles Murray has pointed out, it's just that the numbers are easier and cleaner to interpret when you don't have all of the other complicating factors of race to consider.
Of course, the situation is no better when you factor in the other races...
I showed you earlier a chart of how white men are dropping out of the workforce in significant numbers. Well, it's not just white men...
Look at this chart of "labor force participation rate" of the entire country. It's really depressing...
Fewer people are working. More people are relying on freebies and handouts.
To me, the conclusion is obvious: As a nation, our middle-class values of self-reliance and industriousness simply aren't as important as they were 50 years ago.
It's these values that made America great... THE place everyone wanted to come to for more than 200 years.
But sadly, today these values are disappearing.
Not only is it no longer embarrassing to get handouts... most Americans today feel ENTITLED to get something for nothing.
As I mentioned earlier, today's research indicates that HALF of all Americans, at some point in their life, will be on food stamps before the age of 20.
That's remarkable isn't it?
And 90% of all black children will be on food stamps at some point in their lives.
Today, nearly 15% of the entire U.S. population is on food stamps. This percentage has soared in recent years... just look at the chart below:
Overall, 1 in 6 Americans now receives some form of poverty aid. Yes, I know we need to make sure the neediest of citizens can eat, but this habit of dependency becomes ingrained at a very young age in America today... and it clearly continues for the rest of many people's lives...
I also mentioned earlier the percentage of American workers who have convinced the government they are "too disabled" to work. These figures also come from Charles Murray's analysis...
Back in 1960, less than 1% of the workforce was considered "too disabled" by the government to work, and got paid to sit at home. Today that number is over 5%.
It's an astonishing figure when you look at the chart...
What does this all mean?
Again, to me it's a clear symptom of the "Corruption of America"... our weakening work ethic... and our adoption of the entitlement mentality.
The core American middle-class values of self-reliance and industriousness are quickly disappearing from our society.
These middle-class values, which 50 years ago were deeply ingrained in the fabric of our society, have been replaced with the habits of dependency and handouts.
This mutation, like a cancer, has sickened us to the point where we can hardly recognize ourselves. We are no longer the USA, but something far more sinister.
American self-reliance and industriousness once fascinated the worldbut now we've become a country of entitlements and greed.
It is complete corruption of our middle class values, and as a result, the Corruption of America.
Of course, it's not that the middle classand the white middle class in particularare causing these problems...
It's that our middle-class values, which made our nation so greatthe envy of the worldhave essentially disappeared.
Yes, our political leaders, our business leaders, our cultural leaders have all made a series of terrible choices that have resulted in nothing less than the decline of our very standard of living.
But what have we done to stop them?
To me, what's most disturbing is that this corruption is so prevalent, we don't even bat an eye at the spectacular displays of fraud, greed, and entitlement that should be front-page news.
For example...
Take the man who is probably the most revered, beloved, and admired business man in America over the past two decades.
I'm talking about Steve Jobs, who founded and led Apple Computer for many years.
There is no question that Steve Jobs built great products. I love my Apple computers. In my family, we have a Mac book laptop, two Apple desktops, several iPads, and several iPhones and iPods.
But Steve Jobs, as brilliant as he might have been, also perfectly embodied our morally corrupt society.
In fact, I'll go further...
Steve Jobs was a criminaland he should have gone to jail.
Don't believe me?
Well, take a look at the facts, then decide for yourself...
Why America's Favorite CEO
Should Have Gone to Jail
When he was working, Steve Jobs didn't like to collect a salary.
Instead, he preferred "stock options," which he could convert to shares of the various companies he started and worked for.
The idea behind this philosophy is soundJobs would only be rewarded only when the business soared. But this is not how Steve Jobs played the game...
In December 2001, for example, Steve Jobs received 7.5 million stock options from Apple Computer.
But instead of pricing the options at the time they were awarded, as they should have been, the options were "backdated" to Octoberto the lowest price of the year, so that Jobs could make more money.
This means the company basically gave Steve Jobs $20 million for which it did not account properly. The money was basically stolen from existing shareholders.
And on top of fudging the phony date, Apple also fudged notes about a special "board meeting," which was supposedly held to discuss this plan, when in reality no such meeting occurred.
Keep in mind: These are not my wild allegations, this is all part of the public record, as reported by Bloomberg, Slate, and The Wall Street Journal.
In fact, The Wall Street Journal reported that Apple's SEC filings showed phony backdating practices were used on 6,428 occasions over a period of several years.
Apple admits Steve Jobs knew about fraudulent grants and was awarded a fraudulent grant... but they said he did not "benefit" from the practice.
Steve Jobs received the opportunity to snatch up millions of shares, via a backdated options grant. But because he later canceled the options grant and instead, received 5 million shares of restricted stock (worth $646.6 million at the time), he didn't benefit?
Are they kidding?
Jobs should have gone to jail. There's no difference between what he admitted to doing and embezzling hundreds of millions of dollars from shareholders.
Steve Jobs was potentially taking something that didn't belong to him from his shareholdersthe people who entrusted him to safeguard their interests.
It's despicable.
Keep in mind: At Pixar, Steve Jobs' other company, he was one of two people on the compensation committee, which routinely backdated option grants, totaling $600 million in fraudulent grants.
I've been writing about Steve Jobs and other equally crooked CEOs and this fraudulent accounting practice for more than six years now.
As much press coverage as Apple gets, I was one of the first (if not THE first) to call him out on these unpunished crimes. I was also among the first to write about Jack Gifford at Maxim and Scott Kriens at Juniper. Both of these guys left their jobs and their companies had to pay more than $100 million each in fines for what they did.
But Steve Jobs and Apple Computer?
They didn't get even as much as a slap on the wrist.
But that doesn't change the fact that Steve Jobs and his cronies were crooks. They were ripping off their own shareholders. To me, this is one of the most spectacular displays of greed I've ever seen... because all of these guys were already filthy rich.
As I said earlier... on one end of the spectrum, we have people who used to be considered "middle class," now seeking handouts and freebies once reserved only for the neediest poor. These folks truly believe their well-being is primarily someone else's responsibility.
On the other end of the spectrum, we have an upper class (folks like Steve Jobs and other morally corrupt CEOs) who have completely abandoned our middle-class values and have instead adopted at "get mine at any cost" mentality... typically by taking advantage of shareholders, or government handouts.
The thing is, in our ostensibly free and democratic society, where the rulers are supposedly led by the ruled, how have we allowed this to happen?
Well, I think I know the answer, and where it's going to take us next.
Keep in mind: Understanding how this corruption works, and how it's going to radically change America, is critical to surviving and prospering in America over the next few years and beyond.
And to show you exactly where I think we are today, and exactly where we are headed, I'd like to simply share with you three quick stories.
I'm almost positive you have never heard these stories before.
But they are a great indicator of what's happening in America right now, and what America is going to look like over the next few years. These stories, as I'll explain, give you very good clues about the best ways to make and preserve your money in the next few years.
As you'll see, one of these stories is about the very rich. One is about the working class. And the other is about retirees.
Let's start with the "working class"...
Just what has become of our nation of self-reliant, proud, and rugged individualists?
Well, as I mentioned, in mid-2010, for the first time ever, 1 in 6 Americans were receiving aid from antipoverty programs.
This also means that for the first time since the Great Depression, Americans received more in government benefitsin the form of unemployment, welfare and other aidsthen they paid in taxes.
That doesn't sound like a sustainable system, does it?
How can we pay out more in benefits than we collect in taxes?
The answer is, we can't.
And the problem is, the incentives in America today have become so perverse, they are actually destroying the will of the working class to work... to save, and to take care of their own family.
Take a look, for example, at what's happening at the lower end of the pay scale...
In the new American world of perverse incentives, the more you earn, the less you can take from the government. So for many, it simply doesn't make sense to work at all anymore.
I'm sure you think I'm exaggerating, so let me show you how this is playing out in the real world...
In Wisconsin, a legislator named Glenn Grothman, recently completed a study of how single mothers have almost no incentive to get a better job (or second job) to improve her lot in life... or to even marry the father of her children.
Let's assume, says Grothman, that you've got single mother in Wisconsin, whom we'll call Karen. She makes $15,000 a year. And she has two children (ages 3 and 7).
Look at what would happen if Karen gets a much better job (paying 3-times her current salary) or if she marries the father of her children, David, who makes $30,000 per year.
Karen would now be part of a household that brought in $45,000 a yearobviously much better than the $15,000 a year she used to bring in, right?
But as Grothman shows, getting more than a 100% increase in household take-home pay is not a good deal for Karen at all... Because look at the laundry list of government handouts she and her children will suddenly lose:
Low-income housing assistance: $7,560
Wisconsin Shares (a local day care program): $9,200
Earned Income Credit: $5,520
Food stamps: $5,328
Badger Care (a Wisconsin health insurance supplement): $3,300
Energy Assistance: $688
Milwaukee School Choice (free private school tuition): $6,440
Add it all up, and the total benefits Karen loses if she marries David, the father of her two children?
$38,036 in tax-free benefits
With these types of perverse incentives in place, it's no wonder that 41% of the births in America are now to single mothers.
And I'm not just picking on single moms here. I'm a parent, and I can't imagine how hard it must be to raise children on your own, especially on a very low income.
But I also know that, having created the most successful business in our industry in the past decade, people behave in their own best self-interest... and act according to the incentives put before them.
At my firm, we put very specific incentives in place, to get people to focus on the work that's most important for our business.
Incentivesin work, and in the rest of lifedictate behavior.
What the government doesn't realize for some reason is that its perverse incentives work the same way. They encourage people not to work. Not to get married. Not to get off unemployment.
As Cheryl Morse, a tax professional in Massachusetts who works with both middle-income and affluent clients, says:
"Don't think the American public is stupid. People call me and say, 'What's the most I can earn before I lose the earned income tax credit?' [They] may not understand marginal rates, but they're shocked when they lose the college or child credits. You hear all the time, 'The harder I work, the more they take away from me.'"
Look, we all want to take care of the truly needy. We are still the wealthiest country in the world, and we need a safety net for people who are incapable of caring for themselves. But that should be a very small percentage of the population.
What's happening in America today is no longer about taking care of the needy.
What kind of society can we expect to have, and what lessons are we teaching our children, when we make it more lucrative and easier to simply collect money from the government, rather than get married or find a better job?
Again, these perverse incentives are destroying our middle-class values of self-reliance and industriousness, which are critical to making our country a great place to live and work.
And here's another mind-boggling example of what I mean...
Not too long ago, the Detroit News ran a story about how landscaping companies in Michigan can't find employees, because job applicants aren't really interested in work.
Keep in mind: This story ran while the state of Michigan had the nation's highest jobless rate.
So what's going on here?
Well, Amy Frankmann, who heads up the Michigan Nursery and Landscape Association, told the paper that members of her organization, "have a lot of people applying but that when they actually talk to them, it turns out they're on unemployment and not looking for work. It's starting to make things difficult."
In other words, the unemployment benefits are so greatit no longer makes sense for many of these folks to work!
Chris Pomeo runs a Michigan landscape firm called Landscape America. He says, "It's like, you've got to be kidding me. It's frustrating. It's honestly something I've never seen before. They say, 'Oh, Ok,' like I surprised them by offering them a job."
Richard Angell runs another local company and says: "We're just getting people coming in, filling out paperwork, hoping they won't get hired... We're having a hard time finding quality applicants."
The paper goes on to report that some applicants are actually asking to be paid in cash, so they can keep collecting unemployment benefits... illegally. Others want to defer their start dates, so they can wait eight weeks or more, till their unemployment benefits run out.
Gayle Younglove works for a local firm called Outdoor Experts, and says, "Unfortunately, we feel the economy is promoting more and more people and companies to play the system and get paid or collect cash money so they don't have to pay taxes."
While the fact that people are turning down good work in the state with the highest unemployment rate should be shocking, it's actually not very surprising at all when you look at the numbers...
Again, we've got a situation with perverse incentives.
Here's what I mean...
In Michigan, the average landscape worker earns $12 an hour, according to the local Department of Labor. So a full-time landscaping employee makes about $225 more per week then he would get if he chose not to work and simply collected unemployment.
But by the time you factor in federal and state taxes, working full time as a landscaper only nets you about $95 more than an unemployment check. And that doesn't factor in money for gas, lunch, and any other expenses you might incur.
So, in other words...
You have to work 40 hours a week in the heat and the dirt, doing backbreaking work... digging, laying stone on your hands and knees... for an extra measly $95.
Does that sound worth it?
Probably not, when you could instead simply stay home all day in the air conditioning and sit on your couch and watch TV.
That's why, for many people, it's not surprising that the answer is "NO" when they are offered a job.
And since Obama and Congress changed the rules to allow people to collect unemployment for up to two years (instead of the previous limit of 26 weeks), it makes a bad situation even worse.
Obviously, these extra unemployment benefits seriously reduce the incentive to find work.
In fact, the Detroit News reported on one former landscaper who has been on unemployment for a year and said he will search for work when the benefits expirewhich means another year of living at the expense of the taxpayers... you and me.
It would be funny, really, if it wasn't so sad.
We are giving unemployed people way too much incentive to stay unemployed.
Think about it: We the taxpayers are now paying people to stay home and not work for two entire years! That's 730 days of being unemployed.
I do not believe there is a single able-bodied person in this country who can't find a new job in less than one year. No, you may not get as good a job as you had before. And yes, you might have to start at a lower position than you had previously, but that's life!
We've all been fired, laid off, or "downsized" before.
It was actually the best thing that ever happened to me, when I was fired from my last job, before starting my own business. Of course, I didn't realize it at the time. Back then, it seemed like the worst thing that could possibly happen.
But I worked my tail off and started doing work for free until I found someone who gave me a chance in my own business.
So here's my message for the unemployed:
Pick yourself up, brush yourself off, and get out there and do SOMETHING till you can find a good job.
Get a job as a waiter or waitress. Tend bar. Work on a construction crew. Wash cars. Clean houses. Do an internship. Find a company you like and offer to work there FOR FREE until something opens up. That's one of the best ways in the world to get a good job. I've hired several great employees over the years who told me they'd do anything to work for my firm... sweep the floors, fetch coffee... whatever it takes to get a foot in the door.
But that's not the way we operate in America today.
Instead, we coddle. We think people who oppose handouts and freebies are evil. We think that for some bizarre reason a person looking for a new job should be able to take two years to do it... and get paid the entire time... by the government!
It's complete insanity.
So just what are these perverse unemployment incentives doing to our economy?
A Harvard economist named Robert Baro concludes the obvious:
"Generous unemployment-insurance programs have been found to raise unemployment in many Western European countries in which unemployment rates have been far higher than the current U.S. rate." Baro also estimates that without the generous unemployment benefits, the jobless rate would have dropped from 9.6% in the fall of 2010, to 6.8%.
Do we really want to live in the quasi-socialist world of Western Europe?
I know I don't, but again... it sure seems like that's where we're headed.
Of course, it's not just the working class that has lost its way.
In America today, there's no group more greedy or "entitled" than the rich.
Let me show you a quick example of what I mean...
An incredible event took place in America recently, among some of the richest and most powerful individuals in America.
What these men did was so illegal... so far beyond what any reasonable person would consider "fair" and "just," that it truly boggles the mind.
Yet no one has gone to jail.
No one has received even a slap on the wrist, as far as I know. In fact, no one in the press or mainstream media even seems concerned.
But I am appalled.
I'd like you to judge for yourself...
You see, not too long ago, Bloomberg news published an article based on confidential sources about how Henry Paulson, the former CEO of Goldman Sachs and the Republican U.S. Treasury secretary during the 2005 financial crisis, held a closed-door meeting with around 20 hedge-fund managers and other top Wall Street executives in New York City in late July of that year.
Now, it's important to remember that this was BEFORE the big financial collapse of that year... about a month and a half before the collapse of Lehman Brothers.
This was also about two weeks after Henry Paulson testified before Congress that Fannie Mae and Freddie Mac were "well-capitalized."
I knew for a fact that what Paulson told Congress wasn't true. In fact, I wrote my entire June 2008 newsletter detailing exactly why Fannie and Freddie certainly had billions in losses that they had not yet revealed to investors $500 billion in losses, at least.
There was no question in my mind, both companies were insolvent "zeros," as I explained.
And yet, in front of Congress, the U.S. Treasury secretary was saying exactly the opposite. Either I was a liar... or he was.
It turns out... it wasn't me.
You see... only a few days later... Paulson met behind closed doors with all the big hedge-fund managers.
What did he tell them?
Apparently, he told them the same thing I had written in my newsletter. He told them the opposite of what he'd said publicly to Congress.
He told these billionaire investors that Fannie and Freddie were disasters... They would require an enormous, multibillion-dollar bailout... The U.S. government would have to take them over... And their shareholders would be completely wiped out.
Here you had a high-government official, explicitly lying to Congress (and by extension, the general public), while giving the real facts to a group of people who represented the financial interests of the world's wealthiest folks.
Incredibly disgusting behavior.
Yet the story didn't come to the public's attention for two years.
This was the most outrageous example of graft and corruption I have ever seen. Certainly, it involves more billions of dollars in misappropriated value than any other similar story I can recall.
These managers had the risk-free ability to make tens of billions of dollars, if not hundreds of billions, by using derivatives to capitalize on what they knew was the imminent collapse of the world's largest mortgage bank.
Who picked up the tab?
You know perfectly well. It was you and me, the taxpayers.
The Bloomberg story... about a crooked Treasury secretary handing a room full of crooked billionaires inside information worth billions of dollars... hardly caused a ripple.
As far as I know, no actions are being planned against Henry Paulson or any of the hedge-fund managers involved. No other major media outlet picked up the story. I saw nothing about it from the Department of Justice or the Securities and Exchange Commission.
What does that say about our country when even the most egregious kind of corruption involving hundreds of billions of dollars is simply ignored?
These rich guys were basically handed billions of dollars by the government... while the average guy with any money in the market got totally screwed.
Again, it seems to me like a huge majority in our country has lost their moral bearing. Our middle class values of self-reliance and industriousness are disappearing.
The ethos of my fellow Americans seems to have changed from one of personal integrity and responsibility to "getting yours" the all-out attempt, by any means possible, to get the most amount of benefits with the least amount of work.
So far, I've given you an example of the rich and well connected, who are now constantly scheming for government freebies, protections, and handouts. And I gave you a few examples of the working class, basically doing the same.
And this brings me to the group that's probably the most egregious, money-grubbing, and immoral class in America today: Retirees.
Now hold on... before you start sending hate mail my way... keep in mind... I'm not talking about all retirees.
No... there's a very special group who exhibit some of the most disgusting behavior I've ever seen, even though they are technically not "breaking" the law.
Let me show you an example of what I mean...
Bellwood, Illinois is a small, mostly black residential suburb of about 20,000 people, located just south of O'Hare Airport.
It's about a 15-mile commute straight east to downtown Chicago.
The median salary in Bellwood is $57,000 a year according to recent census reports.
When I did a recent search on the Zillow real estate website, I found just over 300 houses listed for sale in Bellwood right now.
Just one of these homes is listed at a price higher than $200,000... and only 12 are listed above $100,000.
In other words, this is not a very wealthy place by any means.
But the little town of Bellwood made news recently when a story came out in the Chicago Tribune about a local (white) official named Roy McCampbell.
You see, for running this little suburb West of Chicago, Mr. McCampbell made an astonishing amount of money. In his final year before retirement, McCampbell pulled in a whopping $472,255.
How did he make so much... more than any other municipal executive in the entire state of Illinois?
Well, according to McCampbell, he did the work of 10 people for Bellwood. This is great. Comical, really. Let me show you the list of jobs McCampbell claims to have done:
Comptroller, administrator, public safety CEO, finance director, budget director, human resources director, mayoral assistant, corporation counsel, property commission director, and development corporation officer.
But hold on... it gets better...
As part of his contract, McCampbell was allowed 5 MONTHS worth of sick days each year, starting in May of 2008.
Yes, you read that correctly... he got 5 MONTHS worth of sick days every single year.
And because it's completely impossible for anyone to take five months of sick days in a year (especially when you are doing the jobs of 10 people!), McCampbell was able to get paid for many of the sick days he never took.
This brought his salary up to close to half a million dollars a year.
When asked about his pay, McCampbell told the Tribune: "I didn't hold a gun to anybody's head to get this. I'm not trying to do anything bad."
What kind of world do we live in where neither this guy, nor any of the other local officials who approved this contract, see a problem with this situation?
And wait... it gets even better...
McCampbell also was given a free car and free gasall paid by the taxpayers, who also covered his premiums for health and life insurance, as well as his pension contributions.
Asked by the Tribune if he ever felt like he was being overpaid, McCampbell told the paper, "I truly didn't."
And to top it all off, taxpayers are still not done paying Mr. McCampbell...
Because of salary bumps, bonuses, and cashing out his unpaid sick leave, McCampbell was able to dramatically increase his final year's pay, which in turn gives him a pension estimated as high as $264,000 a year.
McCampbell, who was 55 years old when he retired, could conceivably live another 30 years or more... which could make his inflated pension worth just shy of $8 million.
And don't forget, he didn't contribute a single penny towards his pensionthat was covered by the taxpayers too!
Want to see a picture of what the new breed of the American retiree looks like?
Here's a photo of Mr. McCampbell...
I guess if there's any upside for the citizens of Bellwood, it's that Mr. McCampbell does not exactly look the picture of health. Instead of paying $8 million to him in retirement, maybe they'll only be on the hook for $5 million or so.
Unfortunately, in America today, there are Roy McCampbells in every state, town, and municipality.
Maybe you heard about the tollbooth worker from New York whose average salary was $70,000 a year. Believe it or not, that's not the absurd part of this story, although that in and of itself is pretty amazing.
The thing that makes this story so outrageous is how this guy was able to legally "steal" millions from taxpayers in the coming years...
What this fellow did was work tons of overtime and cash in dozens of sick days, which more than doubled his last year's salary, to $150,000. Because his pension is based on his last year of work, this guy will get a pension of $120,000 a year... for the rest of his life! That's 71% more than his highest year of regular pay.
He's only 50 years old, which means taxpayers could easily be on the hook for $5 million or more in total.
And like I said, these stories are not anomalies.
The exact same thing is going on in every state, in every county, and in every municipality of America today. We have state funded janitors, firefighters, cops, mayors, councilman, administrators, etc., retiring as early as possible (some in their mid-40s), setting themselves up for payouts of millions of dollars for the rest of their lives, because of outrageous public pensions.
In my mind, this "pension padding" is the exact same thing as stealing. You are taking money you didn't earn... and don't deserve.
And it happens at every level of governmentstarting at the top.
USA Today recently reported on how various legislators around the country pad their salary, to boost their last year's salary, and thus their pension:
"Kentucky legislators add their annual allowance for stationery up to $1,500 for senators and $750 for House members plus another $15,000 to $17,000 a year in expense payments to the salary on which pensions are based. Mississippi legislators get two pensions that on average add up to 165% of their salary. Connecticut lawmakers can increase their pensions up to 50% by including mileage reimbursements that add as much as $15,500 a year to the salaries used to calculate their pensions." Keep in mind that these government employees have never had to risk a dollar of their own money. They essentially have lifetime job security. They rarely have to work beyond a 40-hour week.
Yet government employees are now paid millions by taxpayers to retire early, often on pensions fattened by gaming the corrupt system.
It's a complete disgrace, and another prime example of the Corruption of America.
Wyoming Senator Al Simpson said something recently that pretty much sums up what's going on in America today...
Senator Simpson co-chaired Obama's Debt Commission.
During the debt commission hearings, he watched one interest group after another testify before his committee.
All agreed that the mounting federal debt is a national tragedy... then each group made a point to talk about why government funding to its specific area of interest shouldn't be touched!
In other words, 'sure, it's fine to cut government spending... as long as you don't touch any money headed my way!'
At the end of these hearings, Senator Simpson said: "We had the greatest generation I think this is the greediest generation."
I would add only that this is probably also the most self-entitled and corrupt generation as well.
OK... So what's the point of all this, you are probably wondering?
I can imagine what you're thinking...
"OK, Porter, I agree that our country has lost its moral bearing... we've become a nation of greed, self-entitlement, and handout-seekers. But what does all of this all mean for me... what can I possibly do about it... and why should I really care?"
Well, that's what I want to show you right now...
You see, while there are many things that have contributed to the "Corruption of America," there is most definitely ONE CAUSE... one reason... which has contributed more to our corruption and downfall than anything else.
And this developmentwhich few Americans paid attention to when it really got started, years agois gaining more and more momentum.
It will soon rule our country. It will dictate everything we do... it will dominate nearly every aspect of our lives.
In fact, I believe that this is actually THE biggest and most important "corruption" in America today. And it's going to have more influence on our future than politics, taxes, or anything else you can likely imagine.
Understanding how this great corruption works, and how it's going to radically change America is critical to surviving and prospering in our country over the next few years and beyond.
Let me explain exactly what I'm talking about...
What NO Politician Will
Ever Tell You About America
It's no secret that all great nations eventually cease to be great.
Spain once ruled the world. So did Britain and France.
None of these countries are nearly as powerful as they once were, but they all continue to exist, just as America will survive, in some form, no matter how bad things get.
But as was the case with Britain, France, and Spain, the America of the future is not going to be the same as the America of the past.
In the coming years, most Americans will probably not even recognize the nation we are about to become.
Things that we have taken for granted for several generations are not going to be around in 20 years. And there's a good chance that Americaas an exceptional place of freedom and self-reliancewill never again exist in the way that it did 50 years ago.
Sadly, I believe there's one primary reason for this.
One major corruption... which has encouraged and permitted so many of the other corruptions to fester and grow over the past 50 years.
And here's the thing...
If you understand this corruption, you can see why it was so effective in destroying America's middle-class values of thrift, industriousness, and self-reliance.
It also becomes pretty easy to figure out what is going to happen next in America. How some people are likely to continue getting very wealthy, while others struggle.
So just what is this corruption, which for 50 years has caused America to rot from the core?
In two words, it's: FREE MONEY.
I'm sure it will come as no surprise to you, but over the past few decades, the U.S. government has essentially gorged itself on free money.
We've done it two ways:
1) By borrowing simply absurd amounts of money.
2) And by creating an enormous amount of "new" money out of thin air.
Keep in mind: This is money we didn't earn. It's money we don't deserve it. It's deceitful. It's dishonest... and it's corrupt.
In fact, I believe it's the most corruptive force in America today. It's the absolute worst thing that can happen to a free and virtuous society. And the problem is, once you start down the corrupt money path, there is no turning back.
You see, today, we the American people have borrowed, and still owe to our creditors, more than $15 trillion dollars.
That's more than our entire GDP... it's about 5-times what the government brings in via tax revenues each year. It's more money than any nation has borrowed in the history of mankind. It's more debt than all of bankrupt Europe owes... combined.
$15 trillion is a number so big most people can hardly wrap their brains around it. It's virtually meaningless.
But the important point to know is that we're spending $2.4 trillion just in transfer payments and interest on our this debt. That doesn't include any other functions of our government. Meanwhile, we're only collecting $2.3 trillion a year in income, payroll and corporate taxes.
I want to make sure this is clear: Even if we cut every other government program including the entire military budget the tax revenue the government collects can't even cover the cost of the interest on our debt.
And every year, this interest compounds.
If that weren't enough... we continue to pile onto this debt... to the tune of about $1.5 trillion per year. That's because today, even with all the warnings about taking on too much debt and balancing the budget, we still borrow about 43 cents out of every dollar the government spends.
Get this: Our average annual deficit from 2000 through 2008 was $190 billion. Our average annual deficits since 2008 have been $1.3 trillion. That means we are spending a TRILLION dollars more than we bring in, every single year.
Mark my words: We will never, ever, ever be able to legitimately pay back all the money we have borrowed. In fact, it won't be long before we can no longer even afford the interest we are paying on these loans.
Anyone who tells you otherwise is either an idiot or a liar. Obviously, this is going to have huge implications for our country in the coming years.
So that's one way we get free money.
We borrow it... and we never pay back any of the actual money we borrow. We just make the minimum payments on the interest.
And as shocking as the debt statistics are, the numbers are just as startling when you look at how much money we've created out of thin air.
Many Americans find it hard to believe the government can really just create money out of nothing.
Well, they can... and boy do they...
How does the government do it, exactly?
Well, that's the primary job of our Central Bank, called the Federal Reserve... or Fed, for short. And creating money out of thin air is much simpler than most economists would have you believe...
As Newsweek columnist Robert Samuelson recently wrote:
"The process by which the Fed influences the economy is akin to printing money, but, in practice, is slightly more complicated. To increase the money supply, the Fed buys U.S. Treasury securities from banks and other dealers. The Fed deposits the money to pay for them in the bank accounts of the sellers. This is new moneyin effect, created out of thin air."
In other words, the U.S. Federal Reserve can buy U.S. Treasuries, or mortgage-backed securities, or whatever they want, from a bank.
But instead of paying for these things with real money, they simply hit a few keys on their keyboard and presto... they've created money out of thin air, which they can exchange for whatever they want to buy.
All it really is, is an electronic transfer into a bankit's a "made up" electronic transfer, which can be created at any moment and in any amount (with no permission needed from Congress or the President), with just a few keystrokes.
This is how the Federal Reserve creates money. That's its job. In fact, that's every central bank's job, around the world.
As Simon Johnson, of the MIT Sloan School of Management recently told PBS:
"It's quite funny. The Federal Reserve insists, absolutely categorically, 'We do not print money. That's the U.S. Mint that prints money.'
"But, of course, the Fed issues money. It's a great deal, right? Instead of having to print it on a printing press, you just do it digitally. It doesn't actually cost you anything, hardly anything to issue these new digits, these new bits of code on a computer somewhere."
So while the Fed may not technically be "printing" money... they are certainly "creating" it out of thin air.
In fact, in just the past three years, the U.S. monetary basewhich is defined as the sum of currency (including coin) in circulation outside Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Bankshas tripled.
Just look at this chart from the Federal Reserve Bank of St. Louis:
And in the absurd and corrupt world in which we now live in, often times the government puts both of these free money schemes to work at the same time...
The Fed prints money in order to buy loans from the Treasury department!
In fact, right now, today, we are printing money to pay for half of the loans the government gets!
Crazy, right?
It would be like you printing counterfeit money in your basement, then using that money to pay off a credit card, which you use for half of all your expenses.
In what kind of alternative reality can this possibly be a good idea?
It's a complete corruption of our economy and political system, which politicians (and the American people) now prefer over actually earning the money we want to spend.
Of course, I know you may be thinking...
Why should we care?
More money is great for everyone, right... everyone gets richer, don't they?
Well, unfortunately, that's not how it works.
The basic laws of supply and demand tell us that the U.S. government is "devaluing" the dollars we currently hold. More dollars (demand) chasing a relatively stable amount of goods (supply) will eventually lead to much, much higher prices. As prices go up, the buying power of your dollars goes down.
That's why the cost of going to see a movie has gone up from $1 in the late 1970s to $12 todayan increase of 1,100%. That's why college tuition can cost $40,000 a year today... when it cost $5,000 a year just 20 years ago. That's why gas costs nearly $4 a gallon today... when it cost about $1 a gallon back in 1980.
So the government is binging itself on free money: The United States Treasury borrows money... and the U.S. Federal Reserve creates it.
Add these two economic crimes together, and politicians have had all the free money they could ever want over the past 40 years.
And as I'll show you, higher prices are actually the least of our problems.
The truth is, our really big problem is how this FREE MONEY (the borrowing and the printing) has corrupted our culture...
As we have been discussing throughout this presentation, all this FREE MONEY has created perverse and unintended consequences.
For one, it makes every spending decision easy for politicians because it postpones hard choices and encourages elected officials to do what they do best: Spend other people's money.
For another, it has encouraged Americans to spend way more money than we can possibly afford. Did you know, for example, that consumer debt was 23% of household income back in 1946? And that by 2006, it reached 134% of household income? Free money affects everything in American life today.
In fact, the American story of the past half-century can't realistically be portrayed without recognizing this central fact.
Much of what we accept today as "normal" simply could not and would not exist without so much "free money" sloshing around the system.
For example, look at what America today would look like without all of this free money:
** Without so much free money, we could not afford to have 47% of the households in America paying ZERO taxes.
** Or twice as many people (over 22 million) working for the government than all those who work in U.S. manufacturing (about 11 million).
** We could not afford to have 1 in 6 Americans getting anti-poverty aid... and HALF of all Americans on food stamps at some point in their lives.
** We could not afford to hand failing banks, carmakers, and other businesses $7.7 TRILLION in the big bailout of 2009. Yes, you read that number correctly. Bloomberg fought the government all the way to the U.S. Supreme Court to get access to the real size of the bailout. It went through nearly 30,000 pages and found that the Fed handed out much more money than Congress ever thought... and that it helped the banks make $13 billion in extra income over the past few years.
** Without all this free money, we couldn't afford all the ridiculous things our government spends money on, like free cell phones and TV converter boxes for the poor, or free breakfasts (and dinners) for upper-middle class school kids.
** We couldn't afford to pay farmers not to farm. Did you know that between 1995 and 2009, we the taxpayers gave farmers $250 BILLION in agricultural subsidies? Most of it goes to very large and very wealthy farming corporations.
** We couldn't afford to spend $1 billion a year to insure and replace rich people's beachfront homes on the coast of Florida, California, Texas, New York, and the Carolinas, because no private insurance company in its right mind is willing to take these risks at such low prices.
** We couldn't afford to hand out corporate welfare to the companies that seek favors, tax credits, bailouts, waivers, and new regulations in their own industry. This is why companies like Pfizer, Boeing, General Electric, Archer Daniels Midland, Goldman Sachs, AT&T, AIG, and General Motors employ vast armies of lobbyists.
** We couldn't afford to pay a retired teacher, who contributed $62,000 to the pension system... $1.4 million in pension benefits, plus $215,000 in healthcare benefits over his lifetime.
As David Crane (a former California aid to the governor) said about his state's pension system:
"This year [2010] we're spending 10% less on higher education than we did 10 years ago, parks and recreation 40% less, environmental protection 80% less, while spending on pensions is up 2,500%."
** Without so much free money we couldn't afford the outrageous promises we've made in the form of Social Security, Medicare, and Medicaid.
Did you know that these and other entitlements (excluding net interest) account for 56% of all federal government spending? Yes, more than half of all the money we spend goes to these ridiculous entitlement programs.
It won't be long before those programs consume ALL government spending.
And the truly sad part is, the $15 TRILLION debt I mentioned earlier is only the prologue to the epic tale of our indebtedness. Not included in that number is an additional $15 TRILLION shortfall in Social Security, a $20 TRILLION unfunded prescription drug benefit, and an $85 TRILLION unfunded Medicare liability.
You get the point.
Dishonest and free money is the most corruptive force in America today. We as Americans (both rich and poor) are both literally and morally bankrupt experts on one thing only: Gaming the system for handouts and freebies.
As Charles Sykes says in his book, A Nation of Moochers:
"Contemporary politics is dominated by the freebie. Cash for Clunkers: Other people buy you a car (and destroy perfectly good ones in the process). Home credits: Other people help you buy a house. Pork spending: Other people pay for your goodies. In the ultimate moocher culture, someone else buys your food, provides housing, heating, transportation, takes care of your kids, pays for your health careand gives you a free cell phone."
Americans, both the rich and the poor, are broke and corrupt in every sense of the word.
And here's the most important part for people like you and me to remember:
Eventually, this is all going to end... and end very badly.
But that could be a decade or more in the future. And until then, the only way to keep this train rolling... to delay the inevitable collapse as long as possible, is to keep the FREE MONEY flowing.
So we'll keep borrowing 43 cents of every dollar the government spends. And when that is not enough, we'll keep printing billions of dollars every year, out of thin air... at least as long as our creditors don't object.
If you can understand this one simple fact about the near-term future of America, it will help you protect what you've got... and potentially make a heck of a lot of money over the next few years.
You see, unless you are planning on picking up and leaving the country altogether (which I'm certainly not), it means you simply must recognize what is going on, and make the best of a bad situation. This FREE MONEY charade is going to have enormous implications for ordinary citizens like you and me. These changes have already started and will last for the foreseeable future.
This simple fact is something you absolutely cannot ignore.
Let me explain...
Which Side Will You Be On?
The most remarkable thing about our government borrowing and printing dishonest money, is that it makes it very hard for the ordinary manwith little knowledge of financeto determine whether the outlook of the nation is good or bad.
We see stocks going up for the past three years, and we think, "Oh, things are getting better." We record profits at companies like Apple Computer, and we think, yes, we're getting back to normal.
But the truth is, all this free money causes a complete distortion of reality.
Because the reality is, free money is good for some, and bad for others.
I want to show you how this money printing can be good for you. Well... maybe not exactly good for you... but I want to show you how to make the best of this bad situation.
You see, most Americansincluding most of the pundits on TV and in the mainstream mediacan't say for sure if things are getting better or worse. And most Americans don't realize that our currency is depreciating.
They believe instead that everything is just getting more expensive.
As the author Adam Ferguson says, it's the equivalent of a man believing the sun, moon and stars revolve around the Earth... instead of the reality, in which completely the opposite is true.
This is what makes the printing and borrowing of money such an evil and insidious corruption.
Because the average American doesn't understand it, he searches in vain for someone to blame.
And mark my words, as America continues to borrow and print... borrow and print... the blame game will continue to get worse.
Liberals will continue to blame the greedy Right. The 99% will heap even more blame on the 1%. Every politician will blame politicians on the other side of the aisle.
Remember, we know these things will happen because money printing is not new. It's been done by dozens of governments over the past few hundred years, and the results are always the same.
Read about the state of Germany in the 1920s, for example. Adam Ferguson, in his book, When Money Dies, tells the story of wild blame and accusations that erupted in Germany as the country printed obscene amounts of money:
"It was natural that a people in the grip of a raging inflation should look about for someone to blame. They picked on other classes, other races, other political parties, other nations. In blaming the greed of tourists, or the peasants, or the wage demands of labor, or the selfishness of the industrialists and profiteers, or the sharpness of the Jews, or the speculators making fortunes in the markets, they were in large measure still blaming not the disease, but the symptoms."
This is exactly what is happening in America RIGHT NOW.
So please heed this warning. In America, in the years to come, we are going to see the blame and the accusations get much, much worse.
And as I show you how to position yourself to make the best of this bad situation, you must be prepared to be vilified. As you take the necessary steps now to protect your own family and even prosper during this period, you must be prepared for jealousy, and scorn... and most importantly, you must be diligent about keeping a low profile.
Again: The thing to remember here is that all this printing and borrowing is good for some and bad for others.
I want you to simply make the best of a bad situation, and to make sure you know how to position yourself so that you can protect yourself, and even prosper over the next few years.
Here's how I recommend you do it.
There are basically four financial steps you need to take right away...
Your best chance to make
400% in the next few years
As our government continues to print and borrow, our money becomes worth less and less.
One thing we know that happens as a result is that the prices of basic commoditiesthings like oil, gas, silver, copper, coal, zinc, platinum, potassium, and iron oreget much more expensive.
Just look at this chart of what's happened to the prices of these things in the past few years. The numbers are startling... and this trend is only going to escalate...
One of the best ways to not only protect yourself, but also prosper over the next few yearsas the government continues to print and borrowis to own what I call the word's best "Trophy Assets."
Trophy Assets are essentially the world's best commodity properties.
And owning these properties gives you a valuable stake in basic necessities of life and commerce.
I'm talking about owning things like the best iron ore mine in the world. The best copper company in the world. The best water resource company in North America. The #1 oil property in North America. The best agricultural fertilizer company in the world.
It also makes sense, when the price is right, to own the world's largest undeveloped gold deposit, and the largest undeveloped silver and platinum deposits as well. You want to own the world's #1 uranium company. You should also own the best zinc company in the world and the best aluminum and nickel properties too.
My guess is, you've probably never heard of the companies that control these Trophy Assets. They don't make the news very often like the darlings of the media, such as Apple Computer, Microsoft, Whole Foods, or Amazon.
But printing and borrowing so much money is going to cause the prices of basic commodities to soar, and if you can buy the Trophy Assets of the world at a very low price, you stand to make hundreds and hundreds of percent gains in the coming years.
For example, I'll show you how to own the #1 fertilizer company in North Americait provides 20% of the world's supply. I'll show you how to own the world's #1 Uranium companythey produce 16% of the world's supply each year. I'll show you how to own North America's best oil property... the largest undeveloped gold and silver mine... the best water resource in North America, the best copper, aluminum, and nickel companies too.
If you aren't convinced that there's a lot of money to be made in these firms, consider that one of the Trophy Assets I'm going to tell you about has gone up 1,500% since the year 2000... while the overall stock market has gone absolutely nowhere.
Another one of these trophy assets is up more than 800% in the same period. Another is up more than 600%. Since the year 2002, yet another is up more than 1,000%.
Again, I doubt you have heard of any of these firmsbut I know they can make you rich.
When the government prints and borrows on such a massive scale, this is one of the best ways to protect and grow your money.
Stocks overall are still down 5% since the beginning of 2000... while the price of every Trophy Asset I'm going to tell you about has soared.
The point is, since the start of the year 2000... we have already had one "lost decade" in the overall stock marketwhere prices are no better now than they were a decade ago. And we are actually well into our second "lost decade" too.
But not if you own the world's Trophy Assetsthen it's a completely different story, one in which you are making hundreds of percent gains, every few years.
In my latest Research Report, called, How to Own the World's Trophy Assets, I'll show you the full list of all the great commodity assets I recommend you buy over the next few years. I'll also show you exactly what price you should pay.
Because of the extreme fluctuations in commodity prices, these companies occasionally get very cheap. And when they do, you need to be ready, and act quickly.
And this brings me to Step #2...
Do ThisOr the Gov't
Might Take Your Gold
It's no big secret that you definitely want to own some gold and some silver, as the Corruption of America continues to unfold, and we continue to print and borrow more money.
The prices for gold and silver have skyrocketed over the past decade, just as our borrowing and printing has soared over the same period:
And despite recent pullbacks, this long-term trend is still in place. I believe that gold will eventually be selling for well over $5,000 an ounce. And I believe silver will eventually sell for more than $150 an ounce.
But the big question most people aren't thinking about is...
"What then?"
What's the government going to do when there's a small percentage of the population who has acted prudently, by purchasing precious metals?
We are almost surely all going to be labeled as "speculators" and "vultures," who took advantage of, and helped destroy, the U.S. dollar.
Of course, nothing could be further from the truth, but the mob is going to be upset that a small percentage of the American population had the foresight to buy gold and silver, and they are going to demand that the government "do something about it."
What could the government do?
Well, it has several options.
It could institute a 90% "Windfall" tax on precious metals, basically eliminating the gains of gold and silver. Or they could insist that all gold be immediately sold to the governmentjust like they did in the 1930'sin the "interest of national security."
The truth is, we have no idea what the government's going to do.
But I feel very confident that gold and silver are going to be much more valuable in 10 years than they are today. And I feel equally confident that the government will try to "do something" to take away the gains prudent citizens will have earned.
So what can you do to avoid this fate?
Well, one thing I recommend is that you put at least some of your gold and silver holdings into a unique type of gold and silver bullion that has NEVER been confiscated by the government.
There are no guarantees, of course, but I think it's highly unlikely this type of gold and silver will ever be confiscated in the future, either, because it's very hard for the authorities to get a handle on exactly what it is and how to value it.
One thing I would definitely NOT do is invest in gold ETFs. I believe these vehicles are ticking time bombs. Eventually there's going to be a run on the gold futures markets, and I have no idea what's going to happen to the gold ETFs, but I certainly don't consider these things as good as "real gold," and neither should you.
In my new research report, I'll give you all the details on the unique type of hold-in-your-hand gold and silver that has never been confiscated by the government. I believe it is highly unlikely to be confiscated in the future, either.
I'll show you how and where to buy it, and what price you can expect to pay.
Today, this gold and silver costs only a tiny bit more than ordinary bullion... but in the future, it could easily be worth several hundred percent more than ordinary gold or silver.
What's great is, this unique type of bullion is incredibly inexpensive right now.
Get some for yourself, and put it somewhere safe. Everything you need to know is included in my report: Gold and Silver that's Never Been Confiscated By the Government.
That's Step #2 in protecting yourself from disastrous financial effects of the Corruption of America.
Step #3 is a bit different...
It involves something that's actually proven to be even better than gold and silver at growing your wealth when the government is printing and borrowing...
What Rich People Buy Instead of Gold
As I've been explaining throughout this presentation, we are at a very unusual time in U.S. financial history.
The rules are changing. Our government is gorging itself on free money, by printing and borrowing.
So it's extremely important to look at which types of businesses will thrive in this environment... and which types of businesses will do poorly.
Probably the best investment you could make right now is to find a business that collects huge amounts of money today... and doesn't have to pay this money back for many years to come.
Remember, it is basically a given that the value of the U.S. dollar is going to continue to collapse over the next five years in real terms.
And as that happens, any money you have to pay out in the future will likely have fallen in value by 50% or more.
Think about it like this: When you can trade money today for money in the future, it's like getting someone to pay you $1,000 today... but only having to pay back half that amount ($500) in five years, because of inflation and a declining U.S. dollar.
That's an incredible deal, don't you think?
I'd be happy to make that deal with anyone who's interested. Pay me $1,000 today, and I'll give you back $500 in five years.
You get to invest the $1,000... earn money on your investment... and when it comes to repay the money you received, the value of the money has dropped so much due to inflation, that it's essentially like paying back only half of the amount you borrowed.
Well believe it or not, there is actually a business out there that essentially does just this.
They collect large amounts of money today... pay back less money in the future... and because of inflation and time arbitrage... they are pretty much guaranteed enormous profits, year after year.
Of course, not all companies in this industry are created equal. And as with any investment, there's risk involved. But this is an incredible business model and the particular opportunity I want to share with you is about as safe as it gets in the financial world.
In fact, most Americans don't know itand you've probably never seen it written about in the pressbut taking advantage of this secret is the #1 reason why Warren Buffett is the richest investor of our time, and why his Berkshire Hathaway stock is up roughly 1,500% since 1990.
But guess what... there's a company out there that uses the exact same secret as Warren Buffett, and might be even better than Buffett at capitalizing on this idea.
What's great is, today you can buy this business at a ridiculously low price.
How has the business performed?
Well, since the year 2000, this investment has helped some Americans earn more than 900% gains.
That's about twice as much as you'd get by putting your money in gold or silver during the same period... and about 420% more than investing in Warren Buffett's company. (Also remember: The overall stock market during this exact same period is actually down 5%.)
I recommend you make this investment immediately, and hold it for at least the next five years. It is a no-brainer... one of the surest ways to safely make a small fortune in the coming years, while everyone else is worried about what's going to happen to the markets.
Everything you need to know is in my new Research Report, called, Better Than Gold. My report details exactly what this investment is, how it works, how to buy it through any regular broker, and what types of returns you can expect over the next few years.
As with everything else I've described in this presentation, I'd like to send you this work free of charge.
Here's what I mean...
What I'd like to do is send you all of this new research right away. It will be among the first batch of work I send you when you start a subscription to my monthly financial research letter, called Stansberry's Investment Advisory. This is the flagship research service of my company, Stansberry & Associates Investment Research.
As I mentioned at the beginning of this presentation, we are a financial research firm, which started out as a one-man operation in the late 1990s. Today, we have a staff of 80 people, which includes some of the smartest men and women in the industry... a former brokerage firm owner, a former hedge fund manager, a medical doctor and former Goldman Sachs analyst... a geologist... several accountants, an actuarial scientist, and more. Our main objective is to find safe and profitable investment ideas that you are not likely to hear about anywhere else.
We started this business a decade ago with nothing, and since then have grown to become the largest company of our kind in the entire world. We've done that because we do great work and treat our customers extremely well.
Operating this way has helped my firm S&A Investment Research to receive an A+ rating with one of America's biggest consumer protection websites... after more than 12 years of business, week in and week out, with almost half a million paid subscribers in 120 countries worldwide. For example...
Harold Thiessen from Montana wrote recently to say: "My IRA has gone from a low of $315,000.00 to the present high of $952,000.00. I can only thank [you] for changing my life so much."
Dan Koffin, from San Diego, also contacted us recently to say: "Since joining, my portfolio has grown by several hundred thousand dollars. I look forward to a long and prosperous relationship."
We even got an interesting note recently from a reader named Ulysses Reuter, who says he has been making a "small killing" enough to buy a nice-sized boat and a house in Mexico. Here's the photo he sent (below).
Mr. Reuter added: "We took delivery of her 3 weeks ago and are cruising the Bahamas. In October we will take her through the Panama Canal over to the Pacific side since I just bought a home in Mexico..."
Then there was the nice note from Mitchell Donavan, from Ithaca, New York. He said: "I was working long hours with overtime to make a living when I joined you. The excellent results have allowed me to retire early."
Believe me, nothing makes me feel better than receiving notes like these.
But I have to tell you, right now, I am really worried that a lot of our subscribers and many hard-working Americans DO NOT understand the corruption that has taken hold over the American government and our economy too.
All this printing and borrowing... all this "free money".... It's going to have major implications in the years to come. It is going to basically destroy what's left of the middle class... and many people are going to get totally wiped out as a result.
That's why I created this presentation, and that's why I'd like to send you the full details on exactly how I believe this is all going to unfold... and exactly how to protect yourself and perhaps even prosper over the next few years.
Remember: The government is not going to save you:
In fact, the government is actively doing the EXACT OPPOSITE of trying to save you. The government is trying to save itself by completely destroying our currency, and borrowing more money than we can ever possibly hope to pay back. So you have two choices...
I have deleted the remainder as it is an advertisement.
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Joined: 03 Mar 2007
Posts: 2807
Posted: Sat Jul 28, 2012 12:54 pm
Post subject: Re: It's The White Guys Fault After All!!!!!
updraft wrote:
And now , allow me to introduce a brilliant American...
WARNING: The following presentation is intended for mature audiences. It contains potentially disturbing footage and coarse language about the sensitive issues of race and class in America today.
The opinions expressed here are solely the views of the author. Do not continue viewing if you are easily offended by this subject matter.
My name is Porter Stansberry.
...blah, blah, blah.
And more blah, blah, blah.
This from Wikipedia about Mr. Stansberry:
Stansberry was successfully sued for fraud in 2003 by the U.S. Securities and Exchange Commission for a "scheme to defraud public investors by disseminating false information in several Internet newsletters".
In 2007, he and his investment firm, then called "Pirate Investor," now known as "Stansberry & Associates," were ordered by a U.S. District Court to pay $1.5 million in restitution and civil penalties, the court stating "Stansberry's conduct undoubtedly involved deliberate fraud, making statements that he knew to be false."
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