Michael Snyder
The Economic Collapse
September 7, 2012
Are you better off today than you were four years ago? This is a
question that comes up nearly every election. This year the Romney
campaign has even created a Twitter hashtag for it:#AreYouBetterOff.
The Democrats are making lots of speeches claiming that we are better
off, and the Republicans are making lots of speeches claiming that we
are not. So are most Americans actually better off than they were four
years ago? Of course not. One recent poll found that only 20 percent
of Americans believe that they are better off financially than they
were four years ago. But the same thing was true four years ago as
well. Our economy has been in decline and the middle class
has been shrinking for a very long time. The Democrats want to put all
of the blame on the Republicans for this, and the Republicans want to
put all of the blame on the Democrats for this. A recent CNN headline
defiantly declared the following: “Decline of middle class not Obama’s fault“,
and this is the kind of thing we are going to hear day after day until
the election in November. But obviously something has gone
fundamentally wrong with our economy. So who should we blame?
Sadly, you hear very little on the mainstream news networks or the
talk radio shows about the institution that has the most power over our
economy. The Federal Reserve
has far more power over our financial system than anyone else does, but
the media and both political parties tell us that the Federal Reserve
is “above politics” and that their “independence” must never be
questioned.
Unfortunately, most Americans have gone along with that.
But the truth is that the debt-based financial system that the
Federal Reserve is at the core of is absolutely central to our economic
problems. If you do not understand this, please see this article: “10 Things That Every American Should Know About The Federal Reserve“.
The Federal Reserve has done more to mess up our economy than anyone else has.
So shouldn’t they be held accountable?
That is a very good question.
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