An overwhelming number of Americans believe the economy is rigged, and favor only certain groups. Why so much distrust in our system?
From L Todd Wood, for Birch Gold Group
A recent poll by Marketplace and Edison Research showed that 71% of Americans feel the economy is rigged against them, and that only a few at the top profit from the American dream, reports CNN.
This feeling seems to be a theme running rampant through Western capitals from London to Warsaw to Washington, hence last week’s Brexit vote in the United Kingdom. Here in the U.S., Donald Trump and Bernie Sanders are capitalizing on this sentiment and shaking the establishment on both sides of the aisle to their core.
It is no secret that both parties in America have supported free trade agreements that open up the U.S. economy to the pressure and consequences of globalization. It has long been a tenement of the GOP that free trade is good for world growth in the long run, and this is most certainly a true statement.
However, that doesn’t make it any less painful for those who lose their jobs, their homes, their incomes to foreign competition.
What really hurts is when that competition is not fair. Trump is on to something here, something that politicians from all parties have not wanted to discuss, as they are funded by lobbyists from those who benefit from unfair trade.
China does not trade free. They block American products. They steal American technology and intellectual property. They rig their currency. They are predator mercantilists backed by a totalitarian regime. A regime that cannot let its people be free cannot trade free. It is simply not possible.
On top of this unfair dynamic, the Left has pushed for open borders, which flood the American work environment with cheap labor. Americans will do tough jobs; they just won’t do them for nothing.
The Chamber of Commerce doesn’t want this gravy train to end. They don’t care about the “average joe”. When you add that immigrants can come into this country and get free rides to some of the best universities in the world while the average American has to spend a fortune to send their children to college, of course the economy and opportunity seem rigged.
The average American is left trying to get by, working two jobs, and wondering why they have it so tough. Their income is stagnant — that is, if they’re lucky enough to have a job.
They see factories moving away and the competition heating up for bartending and burger-flipping work. Their children are having to take out tens if not hundreds of thousands of dollars in loans to get through college and then see them left without a job or income once they get out. No wonder so many millennials are living in their parents’ basement.
One thing is for sure, the status quo is not working. Americans are being fleeced one way after the other. The American dream is being taken by everyone but Americans.
On top of this, our government is weakening our currency and building up mountains of debt. Even those government jobs won’t be around for long. Americans need to force change and take care of themselves. One thing is for sure, the government is not going to do it for you.
Let me ask you a question: Do you feel the economy is rigged against you and your family?
If so, that is all the more reason to have gold, to hedge against a rigged system.
Gold can help to protect your savings from mishandled government monetary policies. This is precisely what Alan Greenspan had in mind when the Wall Street Journal cited his belief, “Gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.”
Now is the best time to start safe guarding your savings with gold. If you haven’t already, give us a call.
Are American retirement plans in danger of becoming insolvent? Read more here.