by Chris Waltzek
Head of the Trends Research Institute, Gerald Celente gives central bank monetary operations a new moniker, Ponzi-nomics. Through the issuance of easy credit, low interest rate bonds encourage corporate share buybacks, a major underpinning of the US stock market advance. The process is essentially a shell game, where the dealer wins at the expense of investors. 1 in 5 American’s hold less than $100 in cash savings; 1 in 3 American’s has less than $500 in savings for emergencies, over 100 million people – about half of American’s have less than $1,000 saved, over 150 million. A key component stems from the loss of 500,000 solid paying manufacturing jobs per year for over a decade, more than half a million careers vanished, moved off shore.