At first analysts would write it is not a matter of “if” the US economy will collapse, but “when.” …In 2014 it is not a matter of “when” the US economy will collapse. It already is…The good news is that increasingly Americans blame government institutions and not business.

Things are looking up. — jtl, 419

At first analysts would write it is not a matter of “if” the US economy will collapse, but “when.”

In 2014 it is not a matter of “when” the US economy will collapse. It already is.

Still politicians and pundits insist the US economy is getting better, from greenshoots to fairy tale unemployment rates under 10% when true unemployment is three times that. Few believe politicians and experts on our improving economy because so few have faith in government institutions. Americans have been lied to for so long their eyes have glazed over in the face of government hogwash.

The Bureau of Economic Analysis has been at the forefront of obfuscating the true state of the economy. In the first two reports on gross domestic product (a useless statistic, which I explain here) in the first quarter 2014 Bureau observedgrowth in GDP or slight decline, but in their third revision they reported that real gross domestic product fell 2.9 percent, a major decrease…

This major revision is a sign the US economy is collapsing. Businesses are not investing, they are issuing debt and buying back their own stocks. Undistributed profits fell for the second quarter in a row. The good news is people are smartening up.

Americans are slowly learning that it is not Capitalism which destroys economic activity but government. In the words of Ludwig Von Mises:

“As a rule, capitalism is blamed for the undesired effects of a policy directed at its elimination. The man who sips his morning coffee does not say, “Capitalism has brought this beverage to my breakfast table.” But when he reads in the papers that the government of Brazil has ordered part of the coffee crop destroyed, he does not say, “That is government for you”; he exclaims, ‘That is capitalism for you.” 

The good news is that increasingly Americans blame government institutions and not business, according to a recent Gallup poll.

Every time Gallup releases a new poll it seems there is something for libertarians to rejoice over. It has been well-known for the past decade that confidence in Congress is repeatedly setting record lows, but this most recent poll tells us something perhaps more important. It tells us about how Americans perceive small business…

Confidence in small business scored high marks at 62% among 1,027 randomly-chosen adults from all 50 US states and Washington DC. Why is this important? Small business will be a central component for Americans when it comes time to picking up the pieces in the aftermath of The End Of The Monetary System As We Know It (TEOTMSAWKI), which our readers will know started when then President Richard Nixon took the US off the gold standard in 1971, making a key change to the Post-World War II Bretton Woods world order.

While confidence in small business scored high marks at 62%,  organized labor struggled to gain traction, polling at 22%. You can see below that small business owners hold some confidence in their future, but their outlook is far below pre-Greater Depression optimism.

Small businesses are key for the future of the United States. There’s no amount of regulation or policy in the world that can get many Americans (in fact all slaves of governments everywhere) back from the brink of starvation. What’s the answer? Entrepreneurship. What the United States needs now are 315 million businesses. As Jay-Z raps, “I’m not a businessmen. I’m a business, man.”

Entrepreneurship is the story of the US and in fact the history of economic activity throughout the world. Entrepreneurs – humans- taking action is key to everybody’s future! By helping yourself and starting a business, you’re also helping all of those people you will eventually serve. But in order to achieve this you must act! As Ludwig Von Mises said: “He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.”

More than 99% of businesses with payrolls in this country are small businesses and who knows how many more are operating in the gray market with employees under the table. I guarantee you they’re all small businesses! Historically small businesses in the United States employ more than 50% of all workers and create 80% of new jobs.

What the entire world needs now, as a part of embracing liberty and freedom, is a 21st Century Entrepreneurial Awakening. The individual needs to reassert himself or herself as the most innovative, entrepreneurial, industrious agent known to man. A huge part of this is shrugging off government – all governments. And we’re getting there…

Confidence in the US government is at an all-time low, and not only among foreigners. Americans’ confidence in Congress and other key US governmental institutions has fallen to lows, as seven percent of Americans say they hold “a great deal” or “quite a lot” of confidence in Congress as an American institution, down from former low, 2013’s 10%.  In 1972 confidence reached 42%.

Americans’ current confidence in Congress is not only the lowest on record, but the lowest Gallup has recorded for ANY INSTITUTION in the 41-year trend. It marks the first time Gallup has measured confidence in a major US institution under 10%. Four percent of Americans say they have a great deal of confidence in Congress, while three percent have quite a lot of confidence. One-third of Americans report holding “some” confidence, while half hold “very little,” while still another seven percent volunteer that they have “none.” Confidence in Congress has been on decline since 2004. The bottom line is that confidence in Congress is the lowest of the 17 institutions Gallup measured this year, and is the lowest Gallup has ever found for any such institutions.

Also noteworthy is faith in public schools reaching a historic low at 26%. The presidency dropped by 7 points and polled at 29%, a mere few points over its all time low of 25%, recorded in 2007. 30% express confidence in the Supreme Court, which is at its lowest point in the history of the survey. Faith in the prison system was noted at 23%, recorded a full 5% drop. The prison system has never fared well in Gallup’s polls since it was added in 1993. Contrary to the rest of the data on low public opinion towards government, the military fell just 2% points, still representing the favorite statist institution (you might say, the ultimate statist institution), with 76% expressing confidence in it.

What Must Be Done?

The increasing confidence in small business and the decreasing confidence in virtually all government agencies is a sign that people want to take control over their own lives. This is good news.

Things in the US will get more difficult for entrepreneurs even if over time there are more entrepreneurs. The government hates competition and in this day-and-age every individual with some skills on a laptop can run their own business for cheaper than ever in the history of the world.  In TDV’s HomeGrown, a subsidiary of the TDV Newsletter, we give US-based individuals advice on surviving TEOTMSAWKI. What’s more dangerous for a government is that its citizens can run a business from anywhere on the globe. That’s why so many Americans are renouncing their citizenship. They’ve seen the writing on the wall and know the US economy is facing collapse.  TDV Offshore can help you on your way to joining those who have already escaped.

Questions or comments on this article? Join us at The Dollar Vigilante! 

picAnarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media including CNBC, CNN and Fox Business.

The Essence of Liberty: Volume I: Liberty and History: The Rise and Fall of the Noble Experiment with Constitutionally Limited Government (Liberty and ... Limited Government) (Volume 1)The Essence of Liberty Volume I: Liberty and History chronicles the rise and fall of the noble experiment with constitutionally limited government. It features the ideas and opinions of some of the world’s foremost contemporary constitutional scholars. This is history that you were not taught at the mandatory government propaganda camps otherwise known as “public schools.” You will gain a clear understanding of how America’s decline and decay is really nothing new and how it began almost immediately with the constitution. Available in both paperback and Kindle versions.

The Essence of Liberty: Volume II (The Economics of Liberty)The Essence of Liberty Volume II: The Economics of Liberty Volume II will introduce the reader to the fundamental principles of the Austrian School of Economics. The Austrian School traces its origins back to the Scholastics of Medieval Spain. But its lineage actually began with Carl Menger and continued on through Adam Smith, Ludwig von Mises, Murray Rothbard and many others. It is the one and only true private property based, free market line of economic thought. Available in both paperback and Kindle versions.

The Essence of Liberty: Volume III: A Universal Philosophy of Political Economy (Liberty: A Universal Political Ethic) (Volume 3)The Essence of Liberty Volume III: Liberty: A Universal Political Ethic. This is the volume that pulls it all together. With reference to Hans-Hermann Hoppe’s description of Murray Rothbard’s work, it is a “unique contribution to the rediscovery of property and property rights as the common foundation of both economics and political philosophy, and the systematic reconstruction and conceptual integration of modern, marginalist economics and natural-law political philosophy into a unified moral science: libertarianism.” Available in both paperback and Kindle versions.


About Land & Livestock Interntional, Inc.

Land and Livestock International, Inc. is a leading agribusiness management firm providing a complete line of services to the range livestock industry. We believe that private property is the foundation of America. Private property and free markets go hand in hand—without property there is no freedom. We also believe that free markets, not government intervention, hold the key to natural resource conservation and environmental preservation. No government bureaucrat can (or will) understand and treat the land with as much respect as its owner. The bureaucrat simply does not have the same motives as does the owner of a capital interest in the property. Our specialty is the working livestock ranch simply because there are so many very good reasons for owning such a property. We provide educational, management and consulting services with a focus on ecologically and financially sustainable land management that will enhance natural processes (water and mineral cycles, energy flow and community dynamics) while enhancing profits and steadily building wealth.
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