The big brokerage houses steer you to the "most common" investment direction. That is, do what everyone else is doing - a kind of collectivism. What you need to know is that they are forced to do this by law. It's called the Prudent Man Rule. Just another regulation to keep folks in wage slavery!
- The FCC made us switch to digital cellular networks; forcing analog users to upgrade.
- In 2015, you won't be able to buy an incandescent light bulbs; forcing you into more expensive CFL anf LED technology.
- And we all had to switch to digital tv back in 2009; forcing antenna folks to buy additional equipment!
So the next time any politician says "you can't make consumers buy something" give them my examples and ask them to stand up to tyranny!
How? By simply paying off their mortgages. Since 2/3 of GDP is consumer spending, the savings would have gone to buy products/services. That would have kept the unemployment rate from rising.
Here is what my research shows:
The quarterly survey published by the Federal Reserve, called the Flow of Funds Report, shows the total value of all home mortgages in the U.S. was $11.2 trillion through the third quarter of 2008.
Here is what they did:
Welfare recipients receive food stamps and cash assistance under the federal Temporary Assistance for Needy Families program. Both benefits are accessed through an EBT (elecronic benefit transfer) card, but only cash assistance can be accessed at ATMs.A single-person household could receive a maximum $200 in monthly food stamps plus $158 in cash assistance. A family of four could get as much as $668 in food stamps and $433 in cash.
A Cato study looked at the state-by-state value of welfare for a mother with two children. In the Empire State, a family receiving Temporary Assistance for Needy Families, Medicaid, food stamps, WIC, public housing, utility assistance and free commodities (like milk and cheese) would have a package of benefits worth $38,004, the seventh-highest in the nation.
Is it any wonder, then, that, despite the work requirements included in the 1996 welfare reform, only 27.6 percent of adult welfare recipients in New York are working in unsubsidized jobs?
Welfare is slightly more generous in Connecticut, where benefits are worth $38,761; a person leaving welfare for work would have to earn $21.33 per hour to be better off. And in New Jersey, a worker would have to make $20.89 to beat welfare.
Nationwide, Cato found that the wage-equivalent value of benefits for a mother and two children ranged from a high of $60,590 in Hawaii to a low of $11,150 in Idaho. In 33 states and the District of Columbia, welfare pays more than an $8-an-hour job. In 12 states and DC, the welfare package is more generous than a $15-an-hour job.