DanielFarash.com - American Debt by Daniel Farash, economy

DanielFarash.com - American Debt by Daniel Farash, economy

DanielFarash.com - American Debt by Daniel Farash, economy

DanielFarash.com - American Debt by Daniel Farash, economy DanielFarash.com - American Debt by Daniel Farash, economy DanielFarash.com - American Debt by Daniel Farash, economy



CHAPTER #3  Watching Humanity Unravel

"THROUGH NO FAULT OF THEIR OWN AMERICANS HAVE $15 TRILLION OF HOUSEHOLD DEBT" - Daniel Farash

“THE FEDERAL DEFICIT IS NOW OVER 11 TRILLION DOLLARS AND IS GROWING TWO AND A HALF TRILLION DOLLARS A YEAR" - Daniel Farash

 

projectmillenniumthree.org

US Debt Clock

M Hodges

US public debt - Wikipedia

Brillig





 

In an episode of Star Trek, The Next Generation a virus is introduced that devolves all human life into lower forms, mostly reptilian.Dan Farash 2009  Twenty years later I wonder if they were making a point.  Over the last 35 years I have observed and studied a severe breakdown in American society and more recently it appears to be a worldwide epidemic.

 

I visited Iceland 15 years ago and was amazed at how efficient their work force was.  This exploration was a great learning experience for me as I had never seen people so committed to their work and so proud of their accomplishments.   I loved watching how quickly a construction crew rebuilt a cobblestone street.  They were getting high on working hard and I thought how wonderful it would be if all societies had this degree of motivation.  Now Iceland, one of the world's great societies, is bankrupt and even McDonald's has pulled out. 

Iceland was never a rich country and it's a very difficult place to live as most of its territory is uninhabitable.  Yet in 1997 it had a powerful working and middle class.  These people worked  extremely hard for their money. Unfortunately, a group of predatory, ignorant Wall Street types destroyed the Island Nation.  Through unchecked fiscal greed, Iceland dropped in stature from worldwide excellence to fiscal collapse.  Its demise was the result of organized criminal activity. White collar fools.  If a few can easily destroy something so good what does that say for the rest of the world?

Iceland isn't alone, as most countries are facing severe fiscal division.  I could go down the list but who's listening. AND just listing the problems isn't the solution anyway.

I have been fortunate enough to have lived in many places whereby experiencing a wide spectrum of socio-economic American society from Manhattan's lower east side to the exclusive East Hampton and many places in between.   I make it a point to ask people direct serious questions and what I've learned is disheartening.

Through my own research and observations, I saw that forty years ago there was no credit card debt and you were not forced into financing your automobile.  Americans were able to own their home in twenty years and most could afford to go on vacations.  Forty years ago even the lower middle class in the United States could work hard, save and get ahead.  There was a correlation between honesty, hard work and success.  This has been largely eradicated and replaced by inconceivable greed and corruption.

 


   

When I was a child, the nine-to-five Joe's of the United States had trillions of dollars in net worth in the form of home ownership and other assets.  From the Mid-Forties until the Mid-Eighties Americans enjoyed "upward mobility" a term that is now extinct.  

 Americans are now in about 50 trillion dollars of household debt; yet if you filled up Yankee Stadium with the richest Americans, most whom you've never heard of, you would have a combined net worth of hundreds of trillions of dollars.  The American apple pie that was owned in part by doctors, lawyers, insurance salesmen, small business owners, public servants and all factions of blue and white collar society is now insolvent to the tune of 50 trillion.  How did this happen in such a short period?

There are people who believe that Americans did this to themselves.  After years of research I find this to be mostly unsubstantiated. However, what I did discover was that Americans elected 30 years of Federal and State Government that stood by while this new order of divide prospered.

The safeguards, regulations and movements to make the world a better place were dismantled.  The working and middle classes have been destroyed.  What I find interesting is how some people are living in denial, completely clueless.  Doing extensive research I theorize that Americans have lost over two-thirds of their buying power in 40 years.  This problem is a result of wages lagging behind inflation.  For example in 1968 a New York Yankee Yearbook was $1 and when I last checked it was $25.  This is a 2500 percent increase while wages during the same period increased approximately 500 percent.  For the most part the price of goods and services have greatly out paced the increase in income.  In 2005, after hiring a think tank of Wharton graduate types and spending a great deal of money digging for the facts.  We were stunned by our results.

We have invented amazing technology with the understanding that these tools would make life and society easier yet the only beneficiaries are a very small group of detached citizens.  I estimate there are approximately three million “masters of the universe” in this country who, through their ignorance, have severely reduced and cheated  "Joe" his constitutional right  to "pursue happiness."

 Note, over the last 20 years weapons have been purchased at a rate never seen before.  Why are average citizens buying so many weapons?  This economic stagnation, if not corrected, will turn our Country into a third world society of mega haves and mega have not’s. This is called  downward mobility and many intellectuals are comparing this to the Dark Ages whereby the quality of life and living conditions deteriorated for many hundreds of years as the Empire, which controlled most of Europe, became increasingly selfish, lawless and ignorant.  This fall of the Roman Empire, which imploded with the help of severe greed and unbearable corruption and the Visigoths who would no longer accept this Caligula style treatment.

 



   
   


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