From the COGCW NEWS TEAM, here is an excellent news article by Robert Morely a columnist for the Philadelphia Church of God. Well worth taking a read. An article from the Trumpet Weekly Publication.
The phrase “mad as a hatter” refers to the 19th-century use of mercuric-nitrate in the making of felt hats. Long-term exposure to mercury caused hat makers to experience mood swings, tremors and emotional imbalances that made them appear mad.
We live in a world gone mad. Money printing—today’s mercury—has poisoned the whole financial system.
Trusted relationships have broken down. Fundamental truths appear suspect, and economic laws no longer seem to hold true. In America especially, it’s as if the whole economic system fell down a rabbit hole into a world where up is down, debt is good, and people exuberantly celebrate unbirthday parties every day of the year but one.
“The world of today is not the same world it was 50 years ago,” writes Agora Financial’s Bill Bonner. “We have a new kind of money. We have a new economy. And we have a different kind of government. All have been transformed over the last 40 years in ways that few people have noticed and fewer still have understood” (emphasis added throughout).
Consider debt. Most people’s grandparents viewed debt as immoral. Most people’s parents viewed debt as a tool to be used sparingly, in “emergencies,” or perhaps for a mortgage.
Today, most people can’t live without debt.
Could you cut up your credit card if you had to? Could you make the payments on your car if you lost your job? How many times have you “borrowed” from your 401(k)?
Today, total United States debt is nearly $60 trillion. According to the Federal Reserve, total debt soared by $658 billion during the fourth quarter of 2014 to a record high of $58.7 trillion. Federal government, agency, domestic and mortgage debt are all rising. Corporate debt jumped from $23.5 trillion in 2010 to $36.4 trillion as of 2014. That’s up an astounding 54 percent in less than five years!
Forty-seven percent of Americans save zero dollars or go further into debt each year, according to Deutsche Bank analyst Torsten Sløk.
Credit is everywhere and inexpensive. Debt is now good?
We ate the magic mushroom.
Read the Full Article: America’s Alice-in-Wonderland Economy