InNewsom gained national attention when he directed the San Francisco city—county clerk to issue marriage licenses to same-sex couplesin violation of the state law passed in As part of his Care Not Cash initiative, 5, more homeless people were given permanent shelter in the city. He vowed that the city would boycott the hotels by not sponsoring city events in any until the hotels agreed to a contract with workers.
What followed this spike — caused in part by tightening supplies, rising demand, easy money and a health dose of financial propaganda — was nothing short of the most severe financial and economic crisis since the Great Depression.
Nearly four years on the country finds itself in the midst of difficult times that have taken their toll on millions of Americans through job losses, home foreclosures, un-servicable debt, and ever dwindling retirement savings.
Future Money Trends is expecting the U. There are three major catalysts that will cause gas prices to reach this breaking point. Two, instability in the middle east and a potential war with Iran would great disrupt the supply of oil.
Three, the supply of cheap, recoverable oil is dwindling along with a major increase in demand. The seriousness of our situation should not be overlooked. With rising demand from BRIC nations like China and India, tensions in the middle east and unprecedented monetary expansion, ten dollars may very well become a reality.
Going into Americans felt fairly confident about their savings, their ability to find work, and their overall outlook. After four years of malaise, the majority of Americans have lost that confidence, as their ability to maintain the standard of living to which they became accustomed over decades of rampant government spending and easy money has been seriously undermined.
At this point, as suggested by Ameduri, even a one or two dollar increase in the price of gas could be the breaking point that sends our economy and global financial markets into an unrecoverable tailspin.
We were able to suspend the worst when governments around the world stepped in previously and let loose everything in the quiver to abate a collapse. This time, however, with our debts piling up at unsustainable levels and our lenders rapidly diversifying out of U.
Assuming that a breaking point is inevitable simply because of our failure to fundamentally change anything since the original crisis took hold inwe should look to history as a guide as a way to anticipate the consequences that follow unsustainable governance and monetary policy.
The collapse of nations and conventional paradigms is never an orderly thing. Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary. Read by 20, people Date: April 29th, Website: This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.
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