The quality of life will continue to worsen for future generations. That’s a harsh statement but unfortunately one that is guaranteed to be true unless sound money is reinstated for the first time in our lifetimes again. A quick glance at the costs for similar items in America in the chart below between 1975 and 2019 may shock many people. In the past, I’ve produced comparisons between the costs of living in the early 1900s and in recent times, but the enormously inflated cost of living between now and back then is much more magnified than the one represented below and just may have given some people a heart attack, so I’ve decided to compare cost of living within a time period to which most of us can still relate. After all, 1975 is not even fifty years ago.
But even though this is a relatively short period of time, ask millennials what was the median income in America in 1975, and most would still be shocked to learn that it was less than $13,000 per year. Upon learning this, most millennials wonder, How in the world could people live on such little money? This sounds like a reasonable question, but it is the wrong one, and one that reflects the complete absence of any truthful monetary history from the academic curricula of the American schooling system. By the way, to provide another statistic that will likely shock a lot of people, even as recently as 2008, the median annual income for Latinos was not much higher than the median annual per capita income for all Americans in 1975, at only slightly more than $15,600.
In any event, the proper question to ask, after learning of the $13,000 per capita media income in America in 1975 is the following: Did that income provide adequately for a comfortable lifestyle back then, and if so, what were the costs of daily necessity like food, energy and shelter back then, because they must have been so much lower than they are today? If millennials asked this much more revealing question, then many of the facts about the immoral fractional reserve banking system, self-evident in the chart below, could be much more easily ascertained. For example, if we look at the massive inflation rate in the median cost of a single detached home in America from 1975 to 2019, and then look at the paltry inflation rate in the median income per capita during this same time period, then we can easily conclude that housing prices in America have increased at multiple times the rate of income in America, thus giving rise to the situation of millions of Americans that are drowning in debt in 2019, as millions are forced to take on mountains of debt to make up the gap between the rising costs of living and earned income levels.
In fact, if the rising rate in median income per capita merely kept pace with the rising rate of housing costs in America, the median income per capita would have to be $70,300 today. Instead it is less than half that amount. Furthermore, for black Americans and Latinos in 2019, the median annual per capita income was far less than the median income of about $31k. For this reason, the home ownership rate in America was reported in 2016, to be the lowest since 1965. For minority groups, the data was even worse. For Black Americans, all the gains in wealth they achieved in recent decades was also completely wiped out during the Obama and Trump administrations, and the home ownership rate among Black Americans was reported to be the lowest in half a century this year. And since none of the circumstances that gave rise to these conditions are likely to change over the next few decades, absent revolutions in nearly every nation in the world, the quality of life will continue to worsen for future generations.
And if you think the data above is miserable, sorry to keep piling on but it only gets worse from here. If we look at the inflation in the costs of attending college and university in America, especially in attending a private university, these costs have risen at exponential rates with which even the rising costs of home ownership can’t compete. In order to keep pace with the rising costs of obtaining a private university degree between 1975 and 2019, the median annual per capita income in America would need to be more than $157,000. Unfortunately, the median annual per capita income in America is just $31,000, with it being much lower for many minority communities. And this is why the truth about money and banking have been completely stripped out of all academic classrooms in not only America, but also around the world. If truth were to be told, then everyone would realize that one of the favorite memes of the extremely wealthy, that there is equal opportunity for all if you only work hard, is completely false. Everyone would realize that from birth, the system is completely rigged against everyone except the most economically fortunate of 0.1% people that are born into extreme wealth.
And this is why college enrollment levels in the United States have dropped for eight straight years. The ROI (Return on Investment) is simply not worth the degree anymore, especially since income levels are still stuck at the starting level as tuition levels have skyrocketed to the moon. And because of the great disparity between rising rates of cost and income, the quality of life will continue to worsen for those that choose to continue to pursue traditional academic pathways for their children. However, the savvy among us are realizing that there are far better means to pursue an education of high utility than the traditional pathway of university and college, which often only slot students into a hive-like mentality and strip away their critical thinking skills by asking them to regurgitate information on exams like robots, instead of teaching students applied knowledge of far greater utility. And for this very reason, millions of students, not just in America, but all over the world, are rejecting traditional low-utility academic choices for alternative education options like online academies (stay tuned for our upcoming launch of our 20+ course skwealthacademy online academy) and trade schools that teach specific skills that offer applied knowledge that provides far superior education at far more reasonable prices. In the case of home ownership, there is not much any of us can do about making up the incredible gap between the skyrocketing costs of homes and the stagnant levels of personal income over decades of time.
However, we don’t have to allow skyrocketing costs of obtaining an academic degree to translate into an acceptance that the quality of life will continue to worsen for future generations among us. As I stated above, if we are smart, we will choose to forego traditional skyrocketing in price forums of academia like colleges and universities, that often are never worth the price of attendance and seek out alternative education pathways that actually provide solid education at a lesser price (i.e. to be worth the cost of admission to “elite” universities like Oxford and Harvard in terms of ROI for those paying full tuition, room and board expenses, graduating seniors should secure annual incomes of $300k or more upon graduation).
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