Service economy & fallacy of wealth distribution

composition of usa economy

useless office worker

“People wonder why there are no jobs yet they continue to pile into service industries with the false promise by politicians of job stability. The problem here is that services do not produce wealth.”

Based on all available evidence, it seems the Western/American public wants to be misled. They have chosen ignorance over knowledge and understanding. They want to believe their corrupt leaders. They want to believe that things always work out in the long run. They want to believe that the economy is about to get better. They don’t want to think about unsustainable debt, unfunded liabilities, saving for retirement, or Simon Cowell leaving American Idol. Americans desperately want to be deluded into another bubble, but there are no evident bubbles left to blow. The existing American delusion is that the current fiscal path will not lead to the utter destruction of our once great Republic.

composition of usa economy

The Western/American herd has gone mad. A few people have regained their senses, but the vast majority still exhibits the behavior of sheep being led to slaughter. The ruling oligarchs have utter contempt for the average American, but they fear the masses. In order to retain their power and wealth, they gladly hand out two years of unemployment payments, food stamps, and welfare payments to keep the masses sedated. The working middle class foots the bill. Corruption abounds and is sustained by the passage of more laws and regulations. The sociopathic powers that control the levers of power in this country need to be brought to justice if this country has any chance at survival. The den of vipers and thieves have trampled on the Constitution, speculated with the country’s funds, risked blowing up the financial system, committed fraud on a massive scale, and continue to rape and pillage the American citizens. Vincible ignorance by the American people is no longer a legitimate excuse. The criminals on Wall Street and Washington DC must be routed out.

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If governments start talking about ‘quantitative easing,’ put your money in a lock box and stock up on supplies. The socialist bail-outs are failing, so it might be time to open up the capitalist patient and start open-heart massage.

Money is only a promissory receipt for someone’s past or future debt. Your employer pays you their debt (or your wages), and you in turn pay your debt to a grocery store or a house mortgage. This is the debt cycle that contributes to inflation. This is why capitalism loves cheap labor.

The debt load of consumers in the U.S., Canada, and Europe is reaching a critical junction whereby the monetary system (money as debt) has started to fail. Consumers have borrowed too much. There cannot be a jobless recovery in any economy, which is why we probably are headed back into a recessive economy. The jobs have already washed up on far-away shores.

The Fallacy of Wealth Redistribution by Bolthorn of Hubpages

It is not difficult to understand how one’s mind might fall into the trap of fallaciously thinking that one does not have one’s fair share of wealth as a result of other people having lots. You sit there, with hardly anything, struggling hard to make ends meet. Then you hear about others who have private jets, own their own sports teams, or blow millions on a political campaign and do not seem to miss the money even when they lose.

“If only they gave some of that money to me” is a common thought people will think silently and complain aloud. They have plenty of money, right? It wouldn’t hurt them if that wealth was spread around, surely.

The fallacy with this thinking has nothing to do with whether or not it is accurate that wealthy people would still be happy and provided for if they had less money. Sure, they probably would still be okay. But whether or not that is true has absolutely nothing to do with the amount of money that you yourself have. Furthermore, An economy that has a sizeable number of people redistributing money to others will always be a weaker economy than when this is not happening. You can read the rest of Bolthorn’s article here.

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