Everywhere we look the masses are hurting. Whether it be the 100 million Americans dependent on the government safety net to survive, or the millions of Europeans rioting in the streets of Spain and Greece, a sense of serious crisis is in the air.
Over the last four years, slowly and without abatement, the economic outlook across the globe has worsened significantly.
In France, a new 75% income tax on individuals earning over a million Euro ($1.2 million) per year was announced today. Incomes of $150,000 will be taxed at 40%. French business owners and citizens are scrambling to leave the country to avoid the new legislation. This has been done to offset the billions being used to bail out failing banks and reckless government spending.
Similarly, in the United States next year, individuals and small business owners will be hit with massive tax increases as universal health care is implemented across America.
Last week the Spanish Congress had to literally barricade themselves behind police and locked doors as thousands of protesters stormed their Congressional hall demanding the resignations of every representative.
The austerity sledgehammer is coming down hard, and everyone is starting to feel it.
The response from the political and financial elite has been to continue doing what they’ve been doing, because somehow the same financial and economic policies they’ve implemented over the last four years, those which have done nothing to increase jobs or economic growth, are going to make a difference now.
The decline is happening before our eyes. Millions of people in once stable economies have been impoverished by job losses, taxation and out of control price inflation on essential commodities like food and energy.
Charlie McGrath, of Wide Awake News, warns that what’s coming next is a catastrophic implosion – and none of us will be spared:
Europe, Japan, China, and the United States are in serious trouble. It may not happen next week, or next month. But, you can be assured, just as 2+2=4, that a financial and economic collapse is coming.
It will be (is) unprecedented in size and scope.
Tens of trillions of dollars in monetary printing in the US, Europe and China has not been enough to stave it off, and all signs indicate that the next round of multi-trillion dollar infusions will do nothing but extend the game just a bit further.
We have long since passed the point of no return and are rapidly approaching the breaking point.