Economy is rigged

The US economy has been rigged to keep interest rates down to accommodate excessive government debt.  Banks pay virtually no interest on checking and savings accounts.  Treasury Bills pay less than 2%.  Citizens who used to get interest income from their savings and fixed income based on an honest calculation of inflation no longer have any place to put their savings that yields any interest.  Therefore, lending money doesn’t pay anything. 

Bonds are also low return and they are subject to having their value lowered. 

The stock market goes up and down within a range.  The DOW goes from 17,000 to 18,000 and back to 17,000 again.

Borrowing money is cheaper for some things.  You can get a home equity loan for 3.5%.  A mortgage loan is also about 3.5%.  A car loan can be 3% to 4%. Good 2 bedroom apartments can be found for $850 per month.

Borrowing money for other things is not good.  Sallie Mae student loans cost 6% and keep piling it on your balance.

A missed payment on your Credit report can keep you from getting credit for anything new. 

Gold has been rigged to freeze at $1100 per ounce and silver was rigged to freeze at $15 per ounce.  Now we see gold has moved to $1320 per ounce and silver moved to $19 per ounce.  This happened as the Euro moved from $1.31 to $1.11 and the British Pound moved from $1.51 to $1.33.  But gold and silver should go up when currencies inflate and these two went down. 

Gold and silver probably went up because multi-national corporations are reporting lower earning ahead and had nothing to do with the Brexit vote.  I suspect large gold and silver purchases by governments are causing this increase.

Before the Brexit vote stocks went up and after the vote they went down.  This was a rigged deal to try to get the Brits to vote to “Remain” in the EU.

Emerging markets assume that consumer earnings are not shrinking.  In China and India in places that employ engineers and higher earners, emerging markets are real.  But in areas full of poor people, where most of the global population lives, emerging markets are a fiction. One outfit sold tooth brushes to poor people who bought it as a status symbol and they called it an emerging market.

Moving jobs to third-world countries reduces jobs and relocating third-world populations to developed countries increases labor supply.  This results in job losses, so household incomes will continue to go down until immigration stops and jobs increase.

Norb Leahy, Dunwoody GA Tea Party Leader