What the heck is going on? Last Thursday the Fed announced that there was more quantitative easing to come in the form of QE3. After the 2007 market collapse, to stimulus failed bills passed through Congress to supposedly fix the economy. Everyone knows how that ended and it didn't do a thing. To further fix things QE1 was invented to push money into the economy and help the Americans. All this did was make the bankers richer than they already were and put Americans further in debt. It is true, that before the quantitative easing the banks tightened up on their lending making it impossible for individuals to get credit. So when it went through, Americans were then able to start charging again and put themselves further in the hole and closer to filing bankruptcy.
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What's interesting is looking at the numbers of the Dow and how they follow QE1, QE2, the twist and now QE3. You see a drastic decline in the market prior to the quantitative easing coming into play. So it appears to me that when the Dow goes down, the Fed wants to push more money into the markets to prop them up. All this does is give the appearance of a good economy when in reality the printing or digitizing of dollars will eventually cause hyperinflation. The average Joe doesn't understand this but the easiest way to see what happens in the end it is to look at the Weimar Republic. In the end, it took a wheel barrel full of money to buy a loaf of bread. Most Americans don't even realize that they are one small disaster away from being on the brink of a bankruptcy filing.
At the end of 2011, the average American had $16,000 in credit card debt. When comparing that to the average salaries it looks pretty glum because that is only $36,000 a year. As gas, food and rent costs continue to rise, it's obvious that inflation is creeping into our economy. The government manipulates the numbers to keep inflation out of sight. When real estate prices were going out of sight, the housing numbers were removed from the CPI to hide it. Now, transportation costs have been removed and since the housing numbers are now deflationary, they are added back in to even out other commodity costs that affect living expenses. Most people don't understand this, but do understand that things cost a lot more as they look at the fact that they might have to file bankruptcy to get away from debt they can't afford to pay.
With the costs of everything going up, it's harder for the average family to make ends meet. As the banks pushed out credit cards, many people took them up on their offer because they needed them to live. Now, many of these people realize that they can afford to pay their credit card bills and put gas in their car so tough choices need to be made. This is where the proverbial wheels start to fall off and the individual should be calling a bankruptcy attorney to see if they need to file bankruptcy. Taking out another credit card would be the American thing to do, but not the wise thing. These people need to file bankruptcy before the debt gets out of control to the point of losing property and belongings. Only time will tell what's in store for the economy in the next few years, but it doesn't look good. Americans need to be proactive in this volatile economy even if that means filing bankruptcy to get out of debt.
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