Josh Sigurdson talks with WAM contributor Tim Picciott of The Liberty Advisor about the economic conditions that lead to such an excess in the number of homeless currently on the streets throughout major cities around the world.
No matter where in the world you are, the problem is clearly getting worse. Whether you’re in Europe, Australia, Canada or the United States, the number of homeless people is growing rapidly. In places like California the number has been absolutely skyrocketing. The question is why?
People often talk about the so-called wealth gap, but what if the very money you have in your wallet (if the government hasn’t yet taken it) is what’s creating the problem in the first place?
Tim Picciott goes into how central banks and vast debt creates vast poverty as the middle class is destroyed and inflation runs rampant. The employment numbers are skewed by the government as it doesn’t count the labor force participation rate which makes up for an alarming amount of unemployment.
As the Fed lowers interest rates this problem is only going to get worse. The currency is in a state of crisis and the dollar will crash. It’s been papered over with debt for years and that debt has been carried over to the consumer and the overall price of living. It may be history’s greatest con job.
Stay tuned as we continue to cover these issues closely!