Some shocking statistics from
Creature from Jekyll Island:
- In 2001, national debt consumed 19% of all federal revenue, or $5000 per American household
- By 1992, more than half of all federal outlays went for what are known as entitlements....Entitlements are expenses...(Social Security, Medicare) which are based on the promise of future payments.
- Federal taxes now take 40% of our private incomes. State, county and local taxes are on top of that...Real wages in America have declined.
Reasons to abolish the Federal Reserve:
- It is incapable of achieving its stated objectives.
- It is a cartel operating against the public interest.
- It is the supreme instrument of usury.
- It generates our most unfair tax.
- It encourages war.
- It destabilizes the economy.
- It is an instrument of totalitarianism.
What you can do to protect yourself from the next downturn:
- Get out of debt.
- Pick a sound bank.
- Diversify your investments....Study the fields in which you invest. Personal knowledge is indispensable....Stay with what you know
- Avoid the most recent "best performers...." They have no bearing on future performance....They may now be overpriced.
- Maintain a stash of cash...food and water....Hope for the best; prepare for the worst.
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