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

Why You Should Be Prepared for Both Inflation and Deflation

James Rickards

Today's investment climate is the most challenging one you have ever faced. This is because both inflation and deflation are possibilities in the near term. Most investors prepare for one or the other. But today Jim Rickards explains why preparing for both inflation and deflation is absolutely necessary. Read on...


The Real Black Friday: When Oil Prices Begin to Climb

Byron King

Byron King observes the real Black Friday. It actually happens tomorrow... the day OPEC meets in Vienna. With wisdom on their side it will be the day they turn the corner to profits in a big way. The outcome of their meeting could be great news for US based oil producers. Either way, the energy revolution in the US rolls on...


Tip of the Day
3 Travel Secrets that Will Make Any Trip More Pleasant

Chris Campbell

Chris Campbell is going home for the holiday. With a storm ready to hit Baltimore, his flight might get cancelled. Inside today's Tip of the Day, he shares his best-kept travel secrets for beating the herd, getting compensated, and upping your chances of getting bumped up to First Class. Read on...


How Retail Investors Could Double Your Money In 14 Months

Greg Guenthner

Stocks keep rising - and people are finally starting to believe this bull market is for real. That means one thing: a lot of ill-informed, rookie investors (AKA retail investors) are starting to come back into the market. And that's creating a unique profit opportunity. Greg Guenthner explains...