Below is an edited email I recently sent to family & a few friends.
.............................
If things were on the up & up in private Finance & Fed Gov't monetary matters: the price of an ounce of gold would be $21,593; and
the price of silver would be $3,054 per oz.
In 1913, the year the Fed Reserve started operating, gold was $28.82;
silver was $2.66. Now they are about $1,814 and $25, respectively.
NOTE: be sure to read at least the "p.s." below. Something very few people know, & quite interesting relative to today.
The median new home price now is $357,700. In 2000, it was $165,543. In 1980 it was $47,200. In 1940 it was $2,948. [We've been told over & over that the Fed Reserve is controlling inflation. Hmmm - really? In 1961, I bought a new pair of Levi's jeans for $3.95 in Colorado. Today, those same jeans are around $50 or so. Since 1961, the per unit cost of producing jeans has gone down.]
Adult worker median income is now $35,567. So, HALF of U.S. adult workers make less than that. [And Jeff B. Amazon thanks us all for making possible his HAM-the-chimp-astronaut flight to the edge of Space:]
The U.S. national debt is now over $28.5 trillion. The principal never will be paid off; interest payments are around one billion $ per day. Total U.S. debt (public & private) is a tad over $85 trillion. [Worldwide debt is $281 trillion.]
Source: U.S. Debt Clock
I leave it to each of you to assess what this all means for the future.
p.s. The Super-Rich are fighting like crazy against a legislative bill which would impose a wealth tax on billionaires only of 3 cents per dollar of income. 3 cents. It would pay for most of the Gov't programs being proposed lately. Apparently it's too much to ask of billionaires, all of whom stood on the shoulders of society to get where they are. [There's no such thing as a self-made billionaire. Society provided them with education, infrastructure of many sorts, medical care, opportunities, social networks, communication, a civil habitat, & more. Yes, they helped pay for all that, but then, so did we all.]
Keep this in mind: the 1st permanent U.S. Income Tax did not apply to wages. It was only on passive income, and it only affected the top 2% of U.S. citizens. It was promoted as a "Soak the Rich" tax just before being passed into Law.
No comments:
Post a Comment