We are not in a recession. We are in a depression, and have been since the turn of the century.
Guest Post by Robert Gore at Straight Line Logic
Economic depressions unfold slowly, which obscures their analysis, although they are simple to understand. Governments and central banks turn recessions into depressions, which are preceded by unsustainable expansions of debt untethered from the real economy. The reduction and resolution of excess debt takes time, and governments and central banks usually act counterproductively, retarding necessary adjustments and lengthening the adjustment, and consequently, the depression.
If one dates the beginning of a depression from the beginning of the unsustainable expansion of debt that preceded it, then the current depression began in 1987. Newly installed chairman of the Federal Reserve Alan Greenspan quelled a stock market crash, flooding the financial system with fiat liquidity. It was a well from which he and his successors would draw repeatedly. Throughout the 1990s he would pump whenever it appeared the market and the US economy were about to dump. In 1999, he pumped because the Y2K computer transition might adversely affect the economy and financial system (it didn’t).
If one dates the beginning of a depression from the time when the benefits of debt are, in the aggregate, outweighed by its burdens, the depression began in 2000, with the implosion of the fiat-credit fueled, high-tech and Internet stock market bubble. Unsustainable debt and artificially low interest rates lower the rate of return on productive investment and saving, increasing the relative attractiveness of speculation. Central bankers and their minions refer to this as “forcing investors out on the risk curve,” crawling way out on a limb for fruitful returns. They have no term for when markets saw off the branch, as they did in 2000 and again in 2008.
Most people don’t see 2000 as the beginning of a depression, but Washington and Wall Street cloud their vision. Stock markets were once essential avenues for raising capital and valuing corporations. Since central bankers’ remit was broadened to their care and feeding, stock markets have become engines of obfuscation. The “wealth effect” supposedly justified solicitude for markets: a rising stock market would increase wealth, spending, and economic growth. For seven years a rising market has coexisted with an anemic rebound and one hears little about the wealth effect anymore. The stock market is the preeminent symbol of economic health, so keeping it afloat has become a political exercise. Sure, central bankers and governments know what they’re doing, just look at those stock indices.
Let’s look at those stock indices. They are measured in fiat debt units, the entirely elastic quantity of which is in the hands of governments and central banks. What if stock indices are valued in a less ephemeral currency, say gold, aka “real money”? By that measure, the DJIA divided by the price of an ounce of gold reached its all-time high of about 41 ounces in May 1999, or just before the depression began. That ratio collapsed to under 7 ounces in September 2011, and currently stands at about 14. If you paid for the Dow in 1999 with gold, you’ve lost 65 percent on your original investment.
There is a general awareness that real family incomes have gone nowhere since the turn of the century; it’s often offered as a reason for the Trump and Sanders ascendancies. Other, less well-known indicators have also deteriorated or declined. What David Stockman defines as “breadwinner” jobs in construction, manufacturing, white-collar professions, governments, and full-time private services, which on average pay more than $50,000 per year, peaked in January 2001 and are still about 3 percent below that peak. The growth in employment since 2001 has been in lower paying part-time jobs, restaurants, retail, medical services, and education, which explains the stagnation in incomes. Two other important measures—labor hour inputs and real net investment—have gone nowhere since 2001. An economy in which hours worked and real investment are not growing is an economy that is not growing.
The US economy has been losing altitude for sixteen years. While debt monetization and interest rate suppression have fueled housing and equity booms, they can’t mask the underlying deterioration. President Obama will be the first president to have presided over an economy that never achieves 3 percent annual growth. That’s by government figures, which must be taken with a shaker of salt. Employment statistics are especially dubious. To the public, they are right behind the stock market as an economic indicator. They are subject to a variety of pertinent criticisms, including their seasonal adjustments and the birth-death model of new business formation, which continues to add to employment although, sadly, more businesses are currently dying than are being born. The government also has a vested interest in understating inflation. Many of the benefits it pays are indexed to inflation, and interest rates on government debt incorporate an inflation premium. Understating inflation overstates the growth of real GDP, probably third on the list of statistics to which the public pays attention.
The Great Depression was not a straight downhill run. There were multiple, widely hailed “recoveries” and stock market rallies, but in 1938 the economy was in worse shape than when Franklin Roosevelt was elected in 1932, and the government was bigger, more intrusive, and more in debt (the same can be said about the government since 2000). Depressing it is to contemplate how government turning a recession into the Great Depression, but consideration of what Japan has done since its stock market topped out in 1989 can leave one pondering the choice of pills, noose, or handgun.
The Japanese have copied every page of the Keynesian and monetarist playbooks: government debt, public works spending, and regulatory expansion, and central bank monetization of assets and interest rate suppression. Multiple recoveries have been punctuated by multiple contractions. Capitalism has remarkable recuperative powers, but screw with an economy long enough and you not only prevent recuperation, you do lasting damage. Japan and Europe—also beset by persistent economic idiocy—have shown little growth or innovation for decades, leaving the economic idiots responsible muttering about supposed, self-exculpatory, secular stagnation. As the US economy glide paths into zero-and-below-land, Washington, Wall Street, and the Ivy League’s best are muttering the same thing.
Nothing is more telling than birthrates, and in Europe, Japan, and the US, birthrates are below the replacement rate of 2.1 births per couple. When planned, having babies expresses confidence in the future. The Japanese buy more adult than baby diapers, illustrating the demographic crunch and falling dependency ratios (the ratio of able-bodied and employed workers to the population requiring outside support), which understandably increases pessimism and further decreases birth rates among the young.
They see a bleak future and they’re not wrong. The global economy hit stall speed with the commodities crash in 2014 and another rendezvous with terra firma looms. Never has the world been more in debt. True recovery won’t happen until most of it has been repudiated and written off. The current depression is already longer than the Great Depression. By the time it’s over, economic historians will be calling it the Humongous Depression.
This is Crisis Progress Report 18. For the first 17, see the Debtonomics Archive.
This post makes me feel so much better I think I’ll zip outside and throw up.
It doesn’t really put anything new on the table, it just dumps so much garbage there in one lump, anyone with any economic sense at all will hereby go into a heavy depression… Just a different kind.
MA
The author don’t have enough faith in the capability of the finest men and women on the planet who work in the US central banking system, and he should be ashamed for dissing the experience and educations of these professionals. Naysayers come and go, but the investors that recognize eating gold is impossible will wisely invest in equities and save their money in America’s rock solid banks.
A friend of mine has a humungous depression in her yard where a big moose plops himself down each day to let the sprinklers spray him in the face. 🙂
SSS
You are so right. I have failed to recognize the brilliance of central bankers, which far outshines anything we mere mortals can rustle up. My abject apologies to them and to the TBP community for impugning them. If I had any money I would put it in the stock market forthwith, and anything left over I’d put in a rock solid bank.
How MUCH wood could a woodchuck chuck, if a woodchuck could chuck wood?
That just popped into my mind, Robert Gore, because contemplating all the brilliant moves our financial geniuses have made these past twenty-some-odd years as laid out in your article is somehow as mind bending as the nonsensical tongue twister I posted above.
Rubber baby buggy bumpers.
I slit the sheet, the sheet I slit, I sit upon the slitted sheet.
After reading that it is more like:
I slit my throat, my throat I slit, anyone not seeing this coming is a useless twit.
All you folks who gave SSS’ comment a thumb-down, do not appreciate sarcasm.
Chicago999444
I got it! I got it! I got it!
Iluv C02
Brilliant revision.
The central bankers plans are working great…. for them. For us, not so much.
I don’t see Stucky or Flash comments are they still alive?
Sensetti’s back! Welcome!
Stuck is still around but busy with his pappy I think. Been busy with my own pappy so I’m not sure what his story is. Flash took his toys and went home some time back. I figured he’d be back but so far…….nada. West “feel the bern” coaster also packed up his toys and went home but I don’t think anyone misses him. I don’t think Billy’s been heard from in some time. I think he’s sick. I’m still pissin’ people off though whenever I get a chance!
How was detox? 🙂
Been a little slow, sensetti. But plenty of folk picking up the slack. Just an odd time, a shocking time for some. THIS IS REALLY HAPPENING!
Couldn’t agree more. I am, however, unable to convince anyone else of this reality.
In progressive farming (yes, that’s what they call it) heavy amounts of inorganic inputs are used to boost fertility of a mono-culture, liberal applications of NPK on fields in order to continuously plant the same crop over and over, like corn, soy, hay or cotton. To anyone else these fields look verdant and they produce bumper crops. Underlying that growth, however, is the soil from which the crops are rooted. Fed a continuous diet of chemicals of fossil fuel based elements like nitrogen and phosphorous depletes the organic matter that makes up tilth- the real health of the soil based on thriving ecosystems, most of which are not visible to the human eye; bacteria, worms, fungus and stacked carbon. Year by year these essential ingredients are leached away, the soil becomes thinner, the plants more vulnerable to predation from opportunistic infections and parasites and so additional chemical treatments must be used, herbicides and pesticides, further weakening and eroding the underlying remnants of health from the soil until it become little more than an anchor for the roots to absorb the chemical stew applied with greater frequency until the day comes when the progressive farmer can no longer manage the loans on his land and equipment and float his credit in order to purchase even more of the chemicals that his entire production is now dependent upon. His fixation on a single crop at the exclusion of all else has so thoroughly depleted his soil, made it so vulnerable to attacks from the outside and from a weakness of both the deeper roots that feed the plants to the vegetation that is required to nourish via photosynthesis it can no longer provide sustenance of any kind and the plants whither and die, the depleted soil either blowing away when it is dry or running off with the ground water in the next storm.
Our entire economic system- the one that turned us from citizens to consumers, the term our so-called leaders now refer to us by- is based on finite quantities of artificial inputs that allow it to look healthy when in fact it is so completely hollowed out and non functional that only a single failure to continue the process will result in complete collapse.
Human societies are no different than arboreal environments. To be truly healthy they must have a mix of natural conditions on numerous levels and these conditions alone lead to true vigor and growth. Healthy families are like the soil that feed the organism and allow it to bloom, wreck them and pull them apart and reconfigure them and assume that the results are the same is folly, encourage the dissipation of these complex ties in order to strip everything that can be commoditized is madness. Our overly complex social structures based on progressive ideals rooted in an artificial matrix may, for a while, give the appearance of growth, but so does cancer.
We have done no less damage to our own human social environment than we have to our agrarian structures all in the name of more, more, more either knowing and intentionally destabilizing the underlying health of the society, or recklessly and wantonly ignoring it in order to exploit and strip every last ounce of value from it.
Anyone with two eyeballs and heartbeat can see this if they so desire. We have built our house on a foundation of sand and the clouds are darkening on the horizon.
A great analogy HSF. They should call it Regressive Farming. I think it better describes what is being done to land. In broader world it looks like Liberalism proffered by SJW’s, the Regressive type, has trumped Libertarianism and independence of the individual. Society has embraced artificial means to provide the world what everyone expects to be an endless supply of TV dinners. But like the soil the resources required to maintain what is called progress are being rapidly depleted. No amount of financial jangling is going to prevent the failure of system underpinning this facade. The reckoning is upon us like like author states. Sadly most just don’t take the time to look at root of problem until it is too late.
Good to see you back, Rob.
I dreamed the end of times last night. I don’t think its prophecy, but may have something to do with watching “The Big Short” with the family and realizing that now, 8 years later, it is all still going on.
So very glad we took the hint.
HSF, we bought this land from a woman who’d planned to retire here with her husband and horses one day. They let the whole place grow into hayfields and treelots. It really is heaven and we named it “Narnia,” Some of our neighbors even understand that.
A shovel full of soil on the high ground, away from the rocky creekbeds (3 of them on the land), yields enough worms and grubs to keep my 6 hens busy for ten minutes. Down in the “heartland” of Missouri, where the farmers have worked the soil as you mention for 50 years? Hard to find a worm.
Or a bee.
Another thing that is lost in our soils due to intensive and not replaced is all the trace minerals like boron, cobalt, arsenic and dozens of others. Some of these elements are needed by the plants. Some are needed by the microbes in the soil and the plants need the microbes.
You can replace these in your garden with rock dust or Azomite but it’s much harder to do on big farms.
On my morning hike I can look down on our little valley, green with spring rains and ample irrigation water this year.
However in between the green fields are fields of brown, everything killed with the rancher’s herbicide of choice. It’s the easy labor saving method to kill weeds and unproductive vegetation before planting the next crop.
Of course the next crop will be consumed by either man or beast along with whatever residue is left from the herbicide.
My little farm isn’t exempt, although I don’t use any of the herbicides my crops are irrigated with water from the ditches that flow through the ‘dead fields’.
Like our country you can run but not hide.
The use of herbicides is the poison you can see. However equally destructive are the poisons in society you cannot visually see.
A neighbor laid off from a productive job, choose the disability route instead of bucking up and taking a position beneath his skills.
Oh it took some time, numerous doctor visits, almost to the point of ‘doctor shopping’ but the disability was granted. Now a miraculous recovery has occurred, once the payments started.
Not yet 50 years old, the benefits are locked in for a lifetime that now includes an amazing active lifestyle.
Idaho, one of our old neighbors worked at a big grocery warehouse for years, moving the crates and boxes out with a lift and counting crates. One November, he fell out of a tree stand while deer hunting and managed to convince whomever he needed to that the injury occurred at work and he got full workmans comp and whatever else he qualified for with an unemployable condition.
Another neighbor was so outraged he filmed him digging (with a shovel) the soil to level it for an inground pool and building the deck in his back yard. He filmed him repairing shingles after a storm and climbing trees to trim branches. He sent it to workmans comp administration and got a form letter back that thanked him for his concern.
When the bough breaks, the cradle doesn’t float to the ground.
Maggie it doesn’t surprise me that government doesn’t care enough to do something about this Deer Hunter. But it does makes sense to me.
Sheep are easier to shear if they are already in the pen.
Rob- There is a great deal of symbolism in the end of “Being There”, too bad most people never notice really understood it’s meaning.
The Depression has been masked too by social welfare spending – meaning we see few soup kitchens and hoboes riding the rails looking vainly for work.
But the expansion of social programs is merely one factor in the massive expansion of public sector debt. And what does ‘public sector debt’ mean to the masses if not currency devaluation – and sinking living standards?
I read an article a few years ago that stated that the soil on most of the farms in the USA were depleted of the necessary minerals that we need in our diet . The article was written in around 1930.
I guess much of our society is like a GMO vegetable …the fruit is there but the seeds won’t germinate in order to plant another years growth. We are slowly destroying our society with “Gender Fluidity ” , Civil Right being bestowed upon every multi-lettered group,rights being destroyed by multi-lettered gooberment agencies and Big Pharma making opioids that create junkies from folks trying to control their pain .
I had a friend who was proud that he could take crappy soil and turn it into productive ground….using nothing but nature’s fall leaves and other clippings. We need more like him to restore the soil…and our nation .
On Chancey the gardener….he had no idea he couldn’t walk on water .
I posted this before but will post it again. It is three FED heads, Richard W. Fisher, Alan Greenspan, and Lawrence B. Lindsey, at the 2015 economic summit. Go straight to the 45 minute mark where Lindsey says “it always ends this way”. and talks about the end game. After hearing him, there should be no doubt by anyone to what is coming. Couple that with the “quote of the day” by Thomas Jefferson and you have a solution.
Greg in NC
Listened to that starting at 45 minutes. What bothers me most is the movers and shakers openly tell everyone what is going to happen. They openingly flaunt their contempt for all to see. Yet most would rather tune into FOX or CNN or MSNBC to listen to Jim Cramer/Steve Liesman types telling us that everything is going to be as it always was.
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I guess as long as the Deer Hunter’s disability check arrives on time things will be as they always were. Until they aren’t. Once that happens everything switches to Walking Dead scenario.
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On the bright side all those folks with disabilities will have a new spring in their step when they start getting hungry. At least for a couple of weeks.
Remember that every dollar in existence is someones debt. The reason that nothing is done about the deer hunter or Idaho’s neighbor is because the bankers get to print up more dollars every month in perpetuity to pay them and they plus a dozen lesser grifters get a cut along the way. Powerful people benefit enormously from it and they will run this leviathan hard aground to wring out every last penny.
IS,
I totally agree.
Greg, those three idiots ARE the problem. How about we drop them out of the back of a c-130 without a parachute and never listen to them again. They all have had an active hand in destroying our country. Banish them. They would not know what sound money is if it bit them in the ass. They drone on about educational results, but nary a word on the folly of attempting to turn trashmen into brain surgeons. Liberalism is a mental disorder, there goes your proof. Eric peters rants on and on about elon musk, elon musk is a smart MFer, when we bet on our best and brightest, we win as a society. When we bet on three lumps like these, we get what we have now.
With 45 million people on food stamps (aka soup kitchens in 1929) and 100 million not in the job market and with the consumers tapped out and JC Penney facing bankruptcy, is the United States already in an Economic Depression?
There are hungry mobs looking for food in Venezuela (now on emergency) and there are hundreds of thousands of refugees in the Middle East, Africa and Europe. That is also not a good sign.
Hey Rob and Star,
Yes those guys are pure fucking trash and need to meet their Marie Antoinette “let them eat cake” moment. They are indeed the the problem as they have always been throughout history as Lindsey mistakenly admitted.
I do not think Lindsey meant to openly use those words especially after Fisher stated how smart it is to float 100yr bonds. That is not smart it is insanity but that is when Lindsey said… “look, it always ends this way”.
Here is a perfect chart to show that it does indeed always end this way…
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Star…Elon Musk without gooberment hand outs would be a used car salesman in Poughkeepsie .
Richard Fisher has been beating the drum about our situation since at least 2008 when he addresses the Common Wealth Club of California and basically said in that speech that we’re screwed. I’ll give him a lighter sentence at the trials.
Within the U.S. there is a debt free money already available that circumvents bank lending, it’s called “legal tender”. Legal tender is not borrowed, loaned or spent into circulation and the only legal way it gets into circulation, is by your demonstrated productivity and public demand for the medium.
Another interesting thing, neither the Fed or the banks possess the legal authority to create money, and they don’t. What they do create is asset backed, debt based credit, which is not designated or acknowledged in law as being a money, or a currency, or a medium of exchange, with the only legal aspect associated with it, residing in the debts incurred with its use.
You see, ours is a Legal Tender Monetary System. This means that our money is not defined by Ludwig von Mises, John Maynard Keynes, Murray Rothbard, Joseph Salerno, Paul Krugman, Mike Maloney, Peter Schiff, Ron Paul or any other talking head. Nor is it defined by Austrian Economics, Keynesian Economics, Monetarist Economics, Capitalist Economics, the Federal Reserve, the U.S. Banking system, conventional wisdom or what people may use. It means our money is defined by law. And nowhere in law does it designate or even acknowledge Fed and bank generated asset backed, debt based credit as being a legal tender, or money, or currency, or a medium of exchange, it is 100% debt.
The legal tender in use today is provided as a duty an obligation of the U.S.G., born from the outlawing and confiscation of gold as money back in 1933. People with and without bank accounts, turned in their gold property and received the legal tender as replacement property. The legal tender system today is an extension of that time. That time has obscured the legal tender’s gold origins, existing as the people’s property first, makes it no less our property in the present, and the banking system’s legal obligation to provide either upon demand or over time, the fruits of our labor as represented by those deposit accounts, our legal tender property. It was our money first.
People are confusing a means of payment, the transfer of a debt obligation (credit), for the medium of exchange, what is owed as payment (an asset). By legal definition United States coins and currency, including Federal reserve notes, are legal tender money, a medium of exchange by law. Checks as well as debit cards, credit cards, money orders, etc., are a means of payment, referred to as a generally accepted (institutional) arrangement or method that facilitates delivery of money from one to another. Payment has not been made unless or until actual money proper has changed hands. All credit is debt outstanding.
All you’re doing when you use a debit card (credit) to make a purchase is, transferring your obligation to pay the vendor, to the bank, payment has yet to be made. The bank deducts the amount from its debt to you, as represented by your account with them, and adds that amount to the debt it owes to the vendor, as represented by his account with the bank. There was no money or currency of any type, digital, electronic or otherwise, used or exchanged in that transaction, just a transfer of an obligation to pay, which has yet to be met.
The notion that we’re using ‘digital money’ or ‘digital currency’ or ‘digital dollars’ as a medium of exchange is nothing more than a trick of the mind, a figment of our overactive imaginations, a deception, it’s how we rationalize the transaction, and it’s how the banksters get away with stealing our labor and wealth.
BUCKHED, I disagree about musk. He invented Paypal, was filthy rich before he started working for the gooberment. I would agree, much lighter sentence for Fischer, i almost put that in my post. He has dissented on lots of important things. He just struck me as way too comfortable looking in that video.
I think a depression is inevitable.
As to it being, “humongous,” i would like to disagree, however, i think it is an apt description.
You state, “The US economy has been losing altitude for sixteen years.”
I would extend the aviation analogy a couple of steps.
The US economy started to level off around the late 50s, early 60s, and during the 70s, 80s and 90s,
has been approaching a slow speed stall.
And yes, SSS, is taking the piss, as we say in Aust.
Hillary will make it so much better!!!
Holy Shit!
There is a saying that when your neighbor loses his job, it is a recession but when we lose our jobs it turns into an economic depression. But the dirt will truly hit the fan when they stop paying out the entitlements, like Social Security, Medicare and Medicaid, as the unfunded debt has soared to the high heavens and is broken. Watch:
http://www.youtube.com/watch?v=W2Fmt2FBctQ
hardscrabblefarmer–They goosed the stockmarket, they goosed the bond market and they goosed the the housing market, they goosed the auto market and they goosed the soil. Everything is goosed!
I wonder if it was always like this, in the past? Our wasteful ways doesn’t speak well of mankind.
I often wonder if mankind is truly a child of the living God (man’s opinion of himself) or a blight upon the world. And one trusts politicians to rule, benevolently. Go figure!
http://thegovernmentrag.com/the-coming-catastophic-collapse-of-the-middle-class.html#.V0B1IU32aUk
http://www.usatoday.com/story/money/markets/2016/05/20/third-cash-owned-5-us-companies/84640704/
Dwain Dibley–I just read your comment 10 times and I feel that I just fell down the’ rabbit hole’.
I would like to address your assertions, but I don’t have the time, I’m old and I’m running out of it.
All those who gave you 7 thumbs up, please, explain it to me, if you can.
The Five Year Plan to Recovery and Sovereignty
–To end this nightmare and rebuild America in five years (my guess), it would only be necessary to declare all Federal Reserve Notes void. Repudiate all national dollar debt, exchange void dollars held by America citizens for either Greenback vouchers or Bitcoin at some well thought out rate of exchange.
–All foreign exchange reserves would be pronounced void and all debt contracts with foreign nations repudiated.
–Next, declare all dollar denominated agreements, instruments, and systems involving dollar transactions void. Remove and rescind all powers and activities of the Federal Reserve and all banks attached to the Federal Reserve System.
–Return the powers and status of the organic United States Treasury and begin issuing new debt free currency as payment for Federal obligations.
–People holding mortgages and other debt products of Federal Reserve Banks would be given full title to any property held as Mortgage Collateral or forgiven all collateral free loans. Formerly licensed Federal Reserve participatory banks should lose all claim to properties under collateral agreements.
–Private, non-banking agreements, previously made in dollars, would be renegotiated in terms of the new currency.
–All military bases in all nations around the world should be closed, all materials and men and women brought home to a growing jobs market absorbing these men and women as new manufacturing opportunities demanded workers.
–Finally, it is necessary to place high tariffs on products that can be manufactured in America. Interest free loans could be made to those building and restoring American manufacturing, workers to be paid in the new currency.
Many will argue that repudiating and building tariffs against China will lead to war; I would argue that we are prosecuting a war now. Importing nearly every product from China has created a non sustainable demand for Chinese products. American prosperity was built on pioneering and innovation in diverse fields and technology, manufacturing, and an ethic of prideful work. There is no reality based way that Americans can continue to maintain their standard of living while also sustaining the Chinese standard of living. The only way America can regain its sovereignty is by ending the foreign trade racket and letting China build products for their own large population and encouraging China to embrace free market philosophies while developing a middle class to consume their products.
Off shoring all manufacturing was purposefully done to rob and then destroy America. The pain of returning American to a viable country will require standing strong against threats of war and retaliation as phony debt is repudiated. In that case we have a military ready to ensure the safety of our shores and peace in America.
Lastly, during the banker currency withdrawal period many Americans will suffer – withdrawing from toxins such as heroin or debt based currency abuse is not going to be painless. But to make it easier, all United States stocks of stored foods and emergency supplies (purchased with debt currency) should be distributed for charitable dispensing during the transition from debt currency to a debt free currency and competing currencies.
Further all large tracks of land held off the market and off limits by the Federal Government, and agents of the United Nations, should be homesteaded to the American people with special incentives for those planning farms and food creation uses of the land.
After 100 years, Americans are waking up, and those serving freedom and abhorring slavery have an unprecedented opportunity to be knowledgable about sophisticated slavery and, for once, the power to take immediate action against mankind’s enslavers.
http://thegovernmentrag.com/the-coming-catastophic-collapse-of-the-middle-class.html#.V0EHwk32aUk
My colleagues were looking for a form last year and located an excellent service that hosts lots of sample forms . If others have been needing it too , here’s
https://goo.gl/r54Cma