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America; Decending to 3rd World Status?

By       Message Mike Folkerth       (Page 1 of 3 pages)     Permalink

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Good Morning Middle America, welcome to your King of Simple News Network, where the news that concerns Middle America is reported daily while we still have a Middle America to report to.

This is one of those mornings that I wish I were blissfully ignorant. I find myself understanding far too much about America’s precarious condition.

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Abu Dhabi Investment Authority, an Arab investment group, bought a stake in Citibank yesterday. The Chinese, Arabs, East Indians, Japanese et al, loan us approximately $3 Billion per day in an attempt to keep us treading water. More than 3 Million jobs have been lost in industry and farming continues it’s slide to corporate ownership.

There are between 12 and 15 million known illegals in the U.S.. Medicare is slated to fail within 10 years. Personal savings remain negative for the third consecutive year (never before seen in our history). The first of 78,000,000 baby boomers become eligible for social security in about a month.

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The national debt has increased by 1000% in the last 25 years to $9 Trillion and we have become the largest debtor nation on earth. Middle America is being selectively wiped out by our own countries trade policies, and it appears that Hillary Clinton and Rudy Giuliani are the candidates we will have to choose from for President. What have we done?

Some how, some way, we have to awaken Middle America; life as we know it for this class of Americans is in the balance. If either of the candidates mentioned above are elected, I truly believe that we are finished. Neither of them have any intention or any viable plan for saving Middle America. They are totally and completely beholden to special interests…rich special interests.

Many, many years ago a good friend who is very bright and very realistic, explained to me that the U.S. could become a third world economy in the blink of an eye. I wanted to believe that he was crazy; but I knew better.

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He explained that once a person loses his or her job, it’s a short trip to 3rd world status. That being said, employment then, is all that separates us from that unfortunate state. That, and the social safety net that currently exists to supposedly create a floor for the level that one could sink.

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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 

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