If you’ve read my past posts on finance, it’s probably becoming clearer to you how the economy has deteriorated in unprecedented ways. The rules that govern our “free market” system have been just about wiped out.
The lifeblood of entrepreneurship (capital), has been redirected away from the creation of jobs and new business.
Many people confuse the wealth earned by people who actually create new products and services with the wealth skimmed by financiers.
America’s economic illness has a name: financialization. It’s a term for the trend by which Wall Street leads by investing capital in self-serving investments that generate no new products/services, no new jobs and no improvements in productivity–the only engine that generates widespread wealth and prosperity.
Here’s an example of how financiers are destroying the U.S. and global economy.
Financiers borrow billions of dollars in nearly free money via Federal Reserve easy credit (essentially our money) and using the cash to buy back corporate shares, boosting the value of stock owned by insiders and management: no new products/services, no new jobs and no improvements in productivity.
I know that this post is more complex than most articles I share.
But, I believe it’s important to wake up and be aware on ALL levels. Being aware of one’s adversary, opponent or potential threats helps us to be prepared. It empowers us to make more informed decisions so that we are not caught off -guard. A warrior is never taken by surprise.
This article by Michael Krieger shows a snapshot of how the destruction of our free market economy has impacted the average person. The article titled “More Americans Living With Parents Than With a Romantic Partner For First Time Since 1880″ may inspire you to expand your income possibilities and not rely only on wages for income.
In upcoming posts, I’ll be writing about entrepreneur opportunities that may inspire you to pursue avenues of income (e.g, side income) that lift your mind and spirit. This is a good time to use your creative thinking to plan how you might want to diversify your family’s income and basic needs sources.