Addison Wiggin

Since we’re in the mood, let’s begin today with a question: Do you think your kids or grandkids will be worse off than you?

We’ll give you a moment to think about it.

[One moment]

Fifty-seven percent of Americans responding to a similar question posed by The Hill predict today’s young people won’t live better lives than their parents.

In addition, 69% believe the nation is “in decline,” and 49% are “very worried” about the nation’s future. Another 34% say they’re only “somewhat worried.”

What’s most striking about these numbers is how banal they’ve become. No fewer than eight polls conducted this month have asked people whether the nation is on the “right track” or the “wrong track.”

The numbers are startling in their consistency, between 73-81%.

A small item to illustrate the larger picture: Last week, a government commission wrapped up three years of work looking into the proverbial “waste, fraud and abuse” among government contractors in the Iraq and Afghanistan wars.

It concluded the government “misspent” between $31-60 billion.

Where did it go?

You’re not allowed to know for 20 more years. The records won’t be available for public review at the National Archives until 2031, because they contain “sensitive information.”

“The ‘ruling junta’ governing the US,” comments our friend Ralph Benko from the Lehrman Institute, “seems to have forgotten an axiom critical to its legitimacy: ‘the consent of the governed.’

“Americans of all parties and ideologies bitterly cling to a fundamental American principle, stated in the Declaration of Independence, that we ‘are endowed by their Creator with certain unalienable Rights,’…and ‘That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed.’”

“A supermajority says that their intention,” says Benko, summing up the polling data, “their well-being and their very dignity are being violated.”

Addison Wiggin
for The Daily Reckoning

Addison Wiggin

Addison Wiggin is the executive publisher of Agora Financial, LLC, a fiercely independent economic forecasting and financial research firm. He's the creator and editorial director of Agora Financial's daily 5 Min. Forecast and editorial director of The Daily Reckoning. Wiggin is the founder of Agora Entertainment, executive producer and co-writer of I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival, the 2009 Critics Choice Award for Best Documentary Feature, and was also shortlisted for a 2009 Academy Award. He is the author of the companion book of the film I.O.U.S.A.and his second edition of The Demise of the Dollar, and Why it's Even Better for Your Investments was just fully revised and updated. Wiggin is a three-time New York Times best-selling author whose work has been recognized by The New York Times Magazine, The Economist, Worth, The New York Times, The Washington Post as well as major network news programs. He also co-authored international bestsellers Financial Reckoning Day and Empire of Debt with Bill Bonner.

Recent Articles

Maestro
6 Major Flaws in the Fed’s Economic Model

James Rickards

Use what analogy you will: a car, a clock, a chemistry experiment... the point remains that the Fed believes it can control the economy. Indeed the Fed will stop at nothing to realize the goals of its dual mandate" to maximize job growth and maintain price stability. But, as Jim Rickards expalins, that conceit always ends in disaster. Read on...


The Best Way to Play the Surge in Equity Crowdfunding

Matthew Milner

When it comes to life-changing tech investments, venture capital has been at the forefront of the investment landscape. But now, there’s a new kid on the block that’s threatening the “old way” of doing things: Equity Crowdfunding. What happens when these two fields meet? Matthew Milner explains...


How You’re Attracting Unwanted Government Attention

Mike Leahy

The NSA will tell you their surveillance programs protect you and the country from terrorists who seek to do you harm. But when you get past their talking points and prepackaged press statements, you'll find their search for enemies covers more people than you'd imagine. Mike Leahy explains...


The Surging Market Sector You’re Probably Ignoring

Greg Guenthner

If the back-and-forth action in the markets has you banging your head against the wall these days, maybe you're concentrating on the wrong stocks. While the market churns near its highs and investors continue to fret over the makings of a possible correction, Asian stocks listed on U.S. exchanges are catching fire. Greg Guenthner explains...


Bill Bonner
Why the Government Views You As Collateral Damage

Bill Bonner

The economist Milton Friedman didn't go far enough when he said, "Concentrated power is not rendered harmless by the good intentions of those who create it." In fact, as Bill Bonner explains, those same good intentions are often used as pavement on a road that leads to a rather ominous and fiery destination. Read on...