DFW-One Region-Two Economies 210608
June 8, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 6/8/21
This is a commentary that explains to Mitchell Schnurman why we have two economies in DFW and why the divide between the haves and the have-nots is continuing to widen!
This is happening because the U.S. Government is corrupt!
The corrupt U.S. Government is printing counterfeit money and giving it to the U.S. upper class! The corrupt U.S. Government has already given the U.S. upper class $149.3 Trillion of counterfeit money!
The corrupt U.S. Government is committing a fiscal and accounting fraud that is enriching the U.S. upper class and cheating the U.S. general public!
The U.S. Government is being run by criminals!
The haves are being given an infinite amount of counterfeit money by the corrupt U.S. Government!
The have-nots are being lied to and cheated by the corrupt U.S. Government falsely promising future benefits!
The following article by Mitchell Schnurman was on the front page of the Dallas Morning News on June 6, 2021.
One region, two economies: As Dallas-Fort Worth aims for a record recovery, the pandemic deepens the divide between haves and have-nots
Dallas landed just 3% of area housing starts while suburban construction boomed, and a lot more women than men have dropped out of the workforce.
By Mitchell Schnurman
6:00 AM on Jun 6, 2021
In spring 2020, the great jobs machine that turned D-FW into an economic powerhouse for decades ground to a halt under the weight of a pandemic. After the nation and state locked down businesses to slow the spread of the coronavirus, North Texas lost over 450,000 jobs in two months — more than the gains of the previous four years combined.
Hiring resumed in May 2020 and has generally continued, albeit at an uneven pace. By April 2021, a year after the worst of the economic hit, the region still had 138,000 fewer jobs than before the pandemic. Over a quarter-million North Texans remain unemployed, about 100,000 more than before the health crisis.
The numbers tell only part of the story. The pandemic economy, like COVID-19 itself, slammed certain industries and workers, especially minorities and women. But others were hardly affected — or even thrived.
What has caused the uneven recovery?
The answer to why we are seeing an uneven recovery from the Covid-19 Pandemic is that the U.S. Government is corrupt! The corrupt U.S. Government is committing a fiscal and accounting fraud that is fraudulently, systematically, and dramatically enriching the U.S. upper class and is fraudulently, systematically, and dramatically cheating the U.S. general public!
The corrupt U.S. Government is not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting). The corrupt U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class to pay for these future benefits! The corrupt U.S. Government is not accruing the money to pay future benefits to the U.S. general public!
The corrupt U.S. Government is lying to and cheating the U.S. general public by promising but not funding future benefits so it can enrich the U.S. upper class by undertaxing them!
Because of this accounting fraud, the corrupt U.S. Government has given the U.S. upper class $149.3 Trillion of counterfeit money (US Unfunded Liabilities (GAAP)) and has cheated the U.S. general public out of $120.9 Trillion of future benefits (US Unfunded Future Liabilities)!
Because of this accounting fraud, the U.S. upper class does not have to work because the corrupt U.S. Government is in the process of printing an infinite amount of counterfeit money by borrowing it from the future Americans and giving it to the U.S. upper class by undertaxing them!
Many white-collar workers can work from home or work from anywhere!
Many white-collar workers can work from anywhere because they are simply shuffling around the counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!
But because of this accounting fraud much of the U.S. general public has to work for a near minimum wage in a job that typically exposes them to Covid-19!
Ironically, much of the U.S. general public cannot make a living unless the U.S. upper class spends the counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!
The white-collar workers did fine throughout the Covid Pandemic because the corrupt U.S. Government kept right on borrowing counterfeit money from the future Americans so the U.S. upper class always had plenty of counterfeit money during the Pandemic!
Many blue-collar workers saw their wages drop to zero when the Pandemic hit because they could not work!
The U.S. upper class is getting filthy rich because they are not being taxed to pay for future benefits!
The U.S. general public is getting screwed because their future benefits are not being funded!
Because the U.S. Government is not using proper GAAP Accounting, the corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing an infinite amount of money from the future Americans, I call it imaginary-counterfeit money, and giving it to the current Americans, primarily the U.S. upper class, so the U.S. upper class can gain infinite wealth without have to do any work!
Until the corrupt U.S. Government starts treating everyone fairly, the haves will get richer and richer and the have-nots will get poorer and poorer! The haves are getting richer every day because every day the corrupt U.S. Government fraudulently borrows more imaginary-counterfeit money from the future Americans and gives it to the U.S. upper class! GAAP basis deficit spending by the corrupt U.S. Government prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them!
This corruption within the U.S. Government can only be eliminated by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org June 8, 2021
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White