Segment 1: Tax Tales SEGMENT BEGINS AT 00:37 Economist Jerry Robinson welcomes author, financial writer, and stand-up comedian Dominic Frisby for an enjoyable, stimulating discussion of his book, Daylight Robbery, as well as the role of taxes in history and the...
‘ALL ABOARD THE LIFEBOAT’
More Bad News for America’s Middle Class
FTMDaily.com – For decades, America’s middle class have held the title of the most affluent “middle class” in the world. But according to new data, this is no longer true.
According to the NY Times:
“After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.”
The new figures, based on surveys conducted over the past 35 years by the Luxembourg Income Study Database, reveal a stark division between America’s wealthy upper-classes and its working poor.
The report adds:
“The struggles of the poor in the United States are even starker than those of the middle class. A family at the 20th percentile of the income distribution in this country makes significantly less money than a similar family in Canada, Sweden, Norway, Finland or the Netherlands. Thirty-five years ago, the reverse was true.”
As I have long stated, America’s slow and steady decline is not only going to be painful financially, but it will also hurt psychologically. America’s pride is being bruised. And just as the sun finally set on the British empire at the turn of the 20th century, America’s proverbial “sun” is setting here at the turn of the 21st century. Global powers are rising up and are eager to take America’s crown of global hegemony.
Of course, there’s little that you and I can do about the rise and fall of empires. However, if we are aware, we can avoid some of the inevitable financial pain that awaits this nation.
One solution to dealing with this historic power shift is to insulate your finances through wise diversification. But investing alone won’t protect you. And neither will a “good job.”
If you want to truly secure your financial future, you MUST create multiple sources of income. Income diversification is the only way out for America’s sinking middle class.
As this recent article proves, America’s wealthy upper-class did not achieve their wealth by working for someone else or by investing in penny stocks. Instead, their wealth came through starting their own business and placing the profits in stable investments like real estate and precious metals.
Have you ever thought about starting your own business? If so, what’s holding you back?
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Inside this Issue
S&P 500 Caps Longest Rally in 2014 on Takeover, Earnings
The S&P 500 has jumped 3.5% in the past six days…
Gold Falls to 10-Week Low as Economy Erodes Haven Demand
Despite the pullback, gold is still up 6.6% YTD.
Coffee Surges to 26-Month High on Brazil
After surging 19 percent the past four weeks, coffee just keeps rising…
Amazon Sales Take a Hit in States With Online Tax
In states that have the tax, households reduced their spending on Amazon by about 10 percent compared to those in states that don’t have the levy.
Chinese Yuan Hits 14-Month Lows Against Dollar
The sudden decline has provoked expressions of concern from Washington, which has consistently called for Beijing to stop meddling in its currency market.
WSJ: Iraq Oil Output Exceeds Hussein Era
Iraq oil production was higher this year than since before Saddam Hussein took power. The problem: getting it out of the country.
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Trade Alert – April 23
Sold BHI yesterday for a solid 6.39% return!
Four stocks currently in play…
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U.S. Financial Markets
Real-time Gold and Silver Prices
You are attempting to view premium content for subscribers only. If you are a subscriber, log in here. If you are not currently subscribed, you can learn more here.View the Daily Chart Archive >>
U.S.: Russia Has ‘Days, Not Weeks’ to Follow Accord
Russia continues to deny its involvement in Ukraine…
Obama Admin. Ordered to Divulge Legal Basis for Killing Americans with Drones
The Second US Circuit Court of Appeals, ruling in a Freedom of Information Act (FOIA) claim by The New York Times and the American Civil Liberties Union (ACLU), said the administration must disclose the legal rationale behind its claims that it may kill enemies who are Americans overseas.
‘New York Times’ Admits It Agreed to ‘Gag Orders’ in Israel
Top newspaper admits that it agreed to gag orders in Israel in exchange for press credentials…
Shoppers Ditch Wallets for Hand Scanners
Forget carrying a wallet because all you could soon need is your hand to pay for goods.
DARPA Producing Sea-Floor Pods That Can Release Attack Drones on Command
The Pentagon’s research arm, DARPA, is developing robot pods that can sit at the bottom of the ocean for long stretches of time, waiting to release airborne and water-based drones to the surface upon an attack command.
Scientists ‘Edit’ DNA to Correct Adult Genes and Cure Diseases
Experts hail ‘fantastic advance’ of new technique that can alter life-threatening mutations with pinpoint accuracy.
The Basics of Precious Metals Investing
Broadcast Every Weekend – Hosted by Jerry Robinson
Topic: In this week’s episode, we pause our “Stock Trading Bootcamp” series in order to bring you important information about precious metals investing. You don’t want to miss this episode!
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“A Daily Dose of Financial Wisdom from God’s Word”
“But you shall freely open your hand to him, and shall generously lend him sufficient for his need in whatever he lacks.”