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.
Have you ever wondered why financial markets move so dramatically whenever Federal Reserve Chairman Ben Bernanke gives a speech?
The same thing does not happen when Barack Obama gives a speech.
That is because the financial markets know who holds the real power in our financial system.
But during this election season the American people are told to put all of their attention on the “red team” and the “blue team”. We are told that the two major political parties are philosophical opposites and that they want to take the United States is two completely different directions.
The “true believers” on the blue team are completely and totally convinced that Barack Obama will be able to rescue the economy and save America.
The “true believers” on the red team are completely and totally convinced that Mitt Romney will be able to rescue the economy and save America.
Once upon a time I was one of those political activists. I was fully convinced that America could be turned around if we could just get enough Republicans into office.
But then I noticed that nothing really seemed to change no matter who was in power. I became disillusioned as I realized that Republicans were doing things pretty much the exact same way that Democrats were doing them when they got into power.
Yes, there are some minor differences between the two parties on taxes and regulations.
If we elect one guy over the other our economy might decline at a slightly different pace.
But in the end both political parties are taking us to the exact same place.
Down the toilet.