THE EVOLUTION OF DEBT SLAVERY IN MODERN TIMES – Part 2

THE EVOLUTION OF DEBT SLAVERY IN MODERN TIMES – Part 2 Part 1 briefly explained the origins of modern day debt slavery in the United States. Middle class wealth was a phenomena of Twentieth Century America. It resulted from those people who performed labor and services being paid a fair split of the profits generated by a manufacturing and services economy. At some point the wealthy elites (including those which financed governments) focused on the American middle class as a source of revenue and a means by which to gain more power. Indeed, the wealthy elites and those who represented them in government devised a plan to rob America’s middle class of its wealth in exchange for loans which would be necessary to maintain that class’ lifestyle until its demise was certain to occur. Government reduced the value of the labor performed by the middle class by exporting jobs overseas to impoverished peoples, who would accept much less than the trade unions had negotiated as being necessary for workers to live fairly in their local communities. At the same time, the elite’s money lenders ameliorated the effect of the loss of worker’s wealth by making cheap loans available to them for a couple of decades. This was a small price to pay for these hard money lenders conversion of America’s manufacturing and servicing economy into a debt based economy, that ultimately benefited from the destruction of the independence of America’s middle class by foreclosing on their assets. Recently, as I noted in Part … Continue Reading