– The Destruction Of America’s Middle Class (In Under Seven Minutes) (ZeroHedge, Aug 18, 2013):
While hardly news to frequent visitors, especially those who recall the following list, anyone who needs a 7 minute refresher into why the US middle class is on collision course with extinction is urged to watch the following brief video which highlights all the salient facts such as:
- 76% of Americans live paycheck to paycheck
- 27% of American have no savings at all
- 46% of Americans have less than $800 in savings
- The conversion of America into a part-time working society and the country’s second largest employer – a temp agency.
- The college trap and the student loan bubble
- And of course, foodstamps, foodstamps, foodstamps and the nearly 50 million poverty-level Americans who need them to survive
Why seven minutes? Because everyone knows that just like you can’t get “six minute abs“, so it is impossible to recap the doom of America’s middle class in only six minutes (or, gasp, less).
YouTube Added: 16.08.2013
– 27 Facts That Prove That The Family In America Is In The Worst Shape Ever (Economic Collapse, July 10, 2013):
The family is one of the fundamental building blocks of society. If you do not have strong families, you are not going to have a strong society. Unfortunately, the state of the family in America continues to deteriorate. The marriage rate has fallen to an all-time low, we lead the world in divorce, and about a third of all children live in a home without a father. Our young people have been taught that getting married and having a family is not a priority, and many of those that would like to get married and have children are not able to get the kinds of jobs that they need to support a family. The statistics that you are about to see should absolutely shock you. American families have never been this weak, and this is an incredibly troubling sign for the future of our nation. What will future generations of Americans be like if they do not have stable homes to grow up in? Will they be even more messed up than we are right now? That is a frightening thought.
The following are 27 facts that prove that the family in America is in the worst shape ever… Continue reading »
– American Households On Foodstamps Climb To New Record (ZeroHedge, June 8, 2013):
Yesterday, briefly, we were confused by the eruption in the stock market following a not too bad sub-200K nonfarm payrolls number. Because we know that in the New Normal bad is always good, no matter what the well-coifed TV pundit du jour tells you. Then we remembered that yesterday is when the USDA releases its monthly Supplemental Nutrition Assistance Program data, i.e. Americans on Foodstamps.It was here that the ramp was perfectly explained, because while the bad (for stocks of course) data was that individual foodstamps recipients rose by 170K in March – if just a whisker below all time highs – it was the number of American households on foodstamps, which rose to a new all time high of 23,116,441 (each collecting an average of $274.30 per month) that perfectly explained the Dow Jones’ 200 point surge higher: the transfer of wealth from the poor and middle-classes to the 1% continues without a hiccup.
– 40 Statistics About The Fall Of The U.S. Economy That Are Almost Too Crazy To Believe (Economic Collapse, May 26, 2013):
If you know someone that actually believes that the U.S. economy is in good shape, just show them the statistics in this article. When you step back and look at the long-term trends, it is undeniable what is happening to us. We are in the midst of a horrifying economic decline that is the result of decades of very bad decisions. 30 years ago, the U.S. national debt was about one trillion dollars. Today, it is almost 17 trillion dollars. 40 years ago, the total amount of debt in the United States was about 2 trillion dollars. Today, it is more than 56 trillion dollars. At the same time that we have been running up all of this debt, our economic infrastructure and our ability to produce wealth has been absolutely gutted. Since 2001, the United States has lost more than 56,000 manufacturing facilities and millions of good jobs have been shipped overseas. Our share of global GDP declined from 31.8 percent in 2001 to 21.6 percent in 2011. The percentage of Americans that are self-employed is at a record low, and the percentage of Americans that are dependent on the government is at a record high. The U.S. economy is a complete and total mess, and it is time that we faced the truth.
The following are 40 statistics about the fall of the U.S. economy that are almost too crazy to believe… Continue reading »
“The real hopeless victims of mental illness are to be found among those who appear to be most normal. Many of them are normal because they are so well adjusted to our mode of existence, because their human voice has been silenced so early in their lives that they do not even struggle or suffer or develop symptoms as the neurotic does. They are normal not in what may be called the absolute sense of the word; they are normal only in relation to a profoundly abnormal society. Their perfect adjustment to that abnormal society is a measure of their mental sickness. These millions of abnormally normal people, living without fuss in a society to which, if they were fully human beings, they ought not to be adjusted.”
– Aldous Huxley – Brave New World Revisited
“If you want a vision of the future, imagine a boot stamping on a human face – forever.”
– George Orwell
“There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution.”
–Aldous Huxley, 1961
– ABNORMALCY BIAS (The Burning Platform , May 9, 2013)
Tags: 1984, Alan Greenspan, Barack Obama, Ben Bernanke, Bonds, Debt, DHS, Economy, Fed, Federal Reserve, Food stamps, GDP, George Orwell, Glass Steagall, Global News, Government, Homeland Security, Iraq, Obama administration, Police State, Politics, Ron Paul, Society, SSDI, U.S.
– US Households On Foodstamps Hit Record High (ZeroHedge)
And don’t believe for one moment that elite puppet Mitt Romney would have made any difference at all (compared to elite puppet President Obama).
– The More Illegal Immigrants That Go On Food Stamps The More Money JP Morgan Makes (Economic Collapse, April 28, 2013):
Recently uncovered documents prove that the Obama administration has been working with the Mexican government to increase the number of illegal immigrants on food stamps, and when more illegal immigrants go on food stamps JP Morgan makes more money. As you will read about below, JP Morgan has made at least 560 million dollars processing Electronic Benefits Transfer cards. Each month, JP Morgan makes between $.31 and $2.30 for every single person on food stamps (and that does not even include things like ATM fees, etc). So JP Morgan has a vested interest in seeing poverty grow and the number of people on food stamps increase. Meanwhile, the Obama administration has been aggressively seeking to expand participation in the food stamp program. Under Obama, the number of people on food stamps has grown from 32 million to more than 47 million. And even though poverty in America is absolutely exploding, that apparently is not good enough for the Obama administration. It has now come out that the U.S. Department of Agriculture has provided the Mexican government with literature that actively encourages illegal immigrants to enroll in food stamps. One flyer contains the following statement in Spanish: “You need not divulge information regarding your immigration status in seeking this benefit for your children.” The bold and the underlining are in the original document in case you were wondering. Overall, federal spending on food stamps increased from 18 billion dollars in 2000 to 85 billion dollars in 2012, and at this point one out of every five U.S. households in now enrolled in the food stamp program. When people illegally or fraudulently enroll in the food stamp program, it makes it harder for those that desperately need the help to be able to get it.
It is certainly a good thing to help fellow Americans that are suffering. It is a crying shame that more than a million public school students in America are homeless. That should not be happening in the “wealthiest nation on earth”.
– Judicial Watch Uncovers USDA Records Sponsoring U.S. Food Stamp Program for Illegal Aliens (Judical Watch, April 25, 2013):
Documents Reveal that Mexican Government Encourages Maximum Participation in U.S.-Funded Program
(Washington, DC) – Judicial Watch today released documents detailing how the U.S. Department of Agriculture (USDA) is working with the Mexican government to promote participation by illegal aliens in the U.S. food stamp program.
The promotion of the food stamp program, now known as “SNAP” (Supplemental Nutrition Assistance Program), includes a Spanish-language flyer provided to the Mexican Embassy by the USDA with a statement advising Mexicans in the U.S. that they do not need to declare their immigration status in order to receive financial assistance. Emphasized in bold and underlined, the statement reads, “You need not divulge information regarding your immigration status in seeking this benefit for your children.”
The documents came in response to a Freedom of Information Act (FOIA) request made to USDA on July 20, 2012. The FOIA request sought: “Any and all records of communication relating to the Supplemental Nutrition Assistance Program (SNAP) to Mexican Americans, Mexican nationals, and migrant communities, including but not limited to, communications with the Mexican government.”
– Hundreds of thousands of Master’s degree holders, PhDs on food stamps (Natural News, Feb 2, 2013):
Shelling out tens or even hundreds of thousands of dollars for higher education may no longer be the surefire path to a great career that it used to be. A recent report compiled by the education resource group OnlineColleges.net found that more than 300,000 Americans with either Master’s degrees or Ph.D.s were receiving food stamps in 2010 — and many more are likely on some form of government assistance today as economic conditions since that time have only continued to worsen.
To give a point of reference as to how bad the situation truly is, there were fewer than 100,000 Americans with Master’s degrees or Ph.D.s on food stamps in 2007, which means the overall number of people with extensive college educations on government assistance more than tripled in just three years. And if this trend continued at the same rate between 2010 and 2013, the total number of college educated on government assistance today has easily eclipsed more than half a million, and with no end in sight.
– US Households On Foodstamps Hit Record High (ZeroHedge, April 15, 2013):
Record Dow, record S&P, record debt, record plunge in gold, and now: record US households on foodstamps. What’s not to like. While today’s gold selloff may be confusing to everyone, one can scratch off some 23,087,886 US households, or the number that according to the USDA were on foodstamps in January and just happen to be a fresh all time high, as the likely sellers, especially when one considers that the average monthly benefit to each household dropped to a record low of $274.04. This number probably ignores, for good reason, the once every four years fringe benefits of Obamaphones and other such made in China trinkets.
– 21 Statistics About The Explosive Growth Of Poverty In America That Everyone Should Know (Economic Collapse, April 4, 2013):
If the economy is getting better, then why does poverty in America continue to grow so rapidly? Yes, the stock market has been hitting all-time highs recently, but also the number of Americans living in poverty has now reached a level not seen since the 1960s. Yes, corporate profits are at levels never seen before, but so is the number of Americans on food stamps. Yes, housing prices have started to rebound a little bit (especially in wealthy areas), but there are also more than a million public school students in America that are homeless. That is the first time that has ever happened in U.S. history. So should we measure our economic progress by the false stock market bubble that has been inflated by Ben Bernanke’s reckless money printing, or should we measure our economic progress by how the poor and the middle class are doing? Because if we look at how average Americans are doing these days, then there is not much to be excited about. In fact, poverty continues to experience explosive growth in the United States and the middle class continues to shrink. Sadly, the truth is that things are not getting better for most Americans. With each passing year the level of economic suffering in this country continues to go up, and we haven’t even reached the next major wave of the economic collapse yet. When that strikes, the level of economic pain in this nation is going to be off the charts.
The following are 21 statistics about the explosive growth of poverty in America that everyone should know… Continue reading »
– Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy (Economic Collapse, March 13, 2013):
They didn’t see it coming last time either. Back in 2007, President Bush, Federal Reserve Chairman Ben Bernanke and just about every prominent voice in the financial world were all predicting that we would experience tremendous economic prosperity well into the future. In fact, as late as January 2008 Bernanke boldly declared that “the Federal Reserve is not currently forecasting a recession.” At the time, only the “doom and gloomers” were warning that everything was about to fall apart. And of course we all know what happened. But just a few short years later, history seems to be repeating itself. Barack Obama, Federal Reserve Chairman Ben Bernanke and almost every prominent voice in the financial world are all promising that the U.S. “economic recovery” is going to continue even though Europe is coming apart like a 20 dollar suit. But the economic fundamentals tell a different story. Our national debt is more than $6,000,000,000,000 larger than it was back in 2008, the number of Americans on food stamps just hit another brand new all-time record, and the bankers up on Wall Street are selling gigantic mountains of the exact same kind of toxic derivatives that caused so much trouble the last time around. But all of our “leaders” swear that everything is going to be okay. You can believe them if you want, but denial is not just a river in Egypt, and another crash is inevitably coming.
– Foodstamp Recipients Hit Record, Alongside Record Dow Jones And Record Debt: 20% Of Eligible Americans On EBT (ZeroHedge, March 11, 2013):
Record Dow Jones, record US debt ($16,701,846,937,879.74), and now, once more, record number of Americans on foodstamps. According to the USDA, an all time high of 47,791,966 Americans closed 2012 in possession of the highly desired Electronic Benefits Transfer (EBT) card, managed by who else but JPMorgan. And with a civilian non-institutional population of 244.4 million in December, this means that a record 19.56% of eligible Americans are on Foodstamps. In December an additional 109,924 Americans became reliant on foodstamps for their poverty-level needs, bringing the total to 47.8 million.
Number of US households on foodstamps: also a record of 23.1 million, with the average monthly benefit of $277.09. Continue reading »
– Food Stamp Rolls in America Now Surpass the Population of Spain (CNS News, Feb 11, 2013):
Since taking office in 2009, food stamp rolls under President Barack Obama have risen to more than 47 million people in America, exceeding the population of Spain.“Now is the time to act boldly and wisely – to not only revive this economy, but to build a new foundation for lasting prosperity,” said Obama during his first joint session address to Congress on Feb. 24, 2009.
Since then, the number of participants enrolled in food stamps, known as the Supplemental Nutrition Assistance Program (SNAP), has risen substantially.
When Obama entered office in January 2009 there were 31,939,110 Americans receiving food stamps. As of November 2012—the most recent data available—there were 47,692,896 Americans enrolled, an increase of 49.3 percent.
According to the 2011 census, Spain had a population of 46,815,916.Furthermore, between January 2009 and November 2012 the food stamp program added approximately an average 11,269 recipients per day.
– Households On Foodstamps Rise To New Record (ZeroHedge, Feb 11, 2013):
While hardly presented by the mainstream media with the same panache dedicated to the monthly ARIMA-X-12 seasonally-adjusted, climate-affected, goal-seek devised non-farm payroll data, the three month delayed Foodstamp number is according to many a far greater attestation to the “effectiveness” of the Obama administration to turn the economy around. And far greater it is: since his inauguration, the US has generated just 841,000 jobs through November 2012, a number is more than dwarfed by the 17.3 million new foodstamps and disability recipients added to the rolls in the past 4 years. And since the start of the depression in December 2007, America has seen those on foodstamps and disability increase by 21.8 million, while losing 3.6 million jobs. End result: total number of foodstamp recipients as of November: 47.7 million, an increase of 141,000 from the prior month, and reversing the brief downturn in October, while total US households on foodstamps just hit an all time record of 23,017,768, an increase of 73,952 from the prior month. The cost to the government to keep these 23 million households content and not rising up? $281.21 per month per household.Total Americans on foodstamps:
Total households on foodstamps and average benefit per household: Continue reading »
– 37 Statistics Which Show How Four Years Of Obama Have Wrecked The U.S. Economy (Economic Collapse, Jan 21, 2013):
The mainstream media covered the inauguration of Barack Obama with breathless anticipation on Monday, but should we really be celebrating another four years of Obama? The truth is that the first four years of Obama were an absolute train wreck for the U.S. economy. Over the past four years, the percentage of working age Americans with a job has fallen, median household income has declined by more than $4000, poverty in the U.S. has absolutely exploded and our national debt has ballooned to ridiculous proportions. Of course all of the blame for the nightmarish performance of the economy should not go to Obama alone. Certainly much of what we are experiencing today is the direct result of decades of very foolish decisions by Congress and previous presidential administrations. And of course the Federal Reserve has more influence over the economy than anyone else does. But Barack Obama steadfastly refuses to criticize anything that the Federal Reserve has done and he even nominated Ben Bernanke for another term as Fed Chairman despite his horrific track record of failure, so at a minimum Barack Obama must be considered to be complicit in the Fed’s very foolish policies. Despite what the Obama administration tells us, the U.S. economy has been in decline for a very long time, and that decline has accelerated in many ways over the past four years. Just consider the statistics that I have compiled below. The following are 37 statistics which show how four years of Obama have wrecked the U.S. economy…
1. During Obama’s first term, the number of Americans on food stamps increased by an average of about 11,000 per day.
3. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.” Continue reading »
– 35 Statistics About The Working Poor In America That Will Blow Your Mind (Economic Collapse, Jan 15, 2013):
In America tonight, tens of millions of men and women will struggle to get to sleep because they are stressed out about not making enough money even though they are working as hard as they possibly can. They are called “the working poor”, and their numbers are absolutely exploding. As a recent Gallup poll showed, Americans are more concerned about the economy than they are about anything else. But why are Americans so stressed out about our economic situation if things are supposedly getting better? Well, the truth is that unemployment is not actually going down, and the real unemployment numbers are actually much worse than what is officially being reported by the government. But unemployment is only part of the story. Most American workers are still able to find jobs, but an increasing proportion of them are not able to make ends meet at the end of the month. Our economy continues to bleed good paying middle class jobs, and to a large degree those jobs are being replaced by low income jobs. Approximately one-fourth of all American workers make 10 dollars an hour or less at this point, and we see them all around us every day. They flip our burgers, they cut our hair and they take our money at the supermarket. In many homes, both parents are working multiple jobs, and yet when a child gets sick or a car breaks down they find that they don’t have enough money to pay the bill. Many of these families have gone into tremendous amounts of debt in order to try to stay afloat, but once you get caught in a cycle of debt it can be incredibly difficult to break out of that.
– The Federal Government Hands Out Money To 128 Million Americans Every Month (Economic Collapse, Jan 10, 2013):
The number of Americans receiving money directly from the federal government has grown from 94 million in the year 2000 to over 128 million today. A shocking new research paper by Patrick Tyrrell and William W. Beach contains that statistic and a whole bunch of other very revealing numbers. According to their research, the federal government hands out money to 41.3 percent of the entire population of the United States each month. Overall, more than 70 percent of all federal spending goes to what they call “dependence-creating programs”. It is the most massive wealth redistribution scheme in the history of the world, and it continues to grow at a very rapid pace with each passing month. But can we really afford this? Of course we never want to see a single person go without food to eat or a roof to sleep under, but can the federal government really afford to support 128 million Americans every month? If millions more Americans keep jumping on to the “safety net” each year, how long will it be before it breaks and it is not there for anyone? The federal government is already drowning in debt. This year the U.S. national debt will easily blow past the 17 trillion dollar mark and we are rapidly heading toward financial oblivion. We are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day with no end in sight. If we don’t get our finances in order as a nation, what will the end result be? Continue reading »
– Panic In California As Thousands Of Food Stamps Cards Suffer Brief Outage (ZeroHedge, Jan 9, 2013):
This past weekend, as part of a system update to the CalWIN software of California’s Social Services department, HP accidentally cancelled EBT cards for some 37,000 Californians. We can only imagine the resulting panic and the scramble by all these Californians who suddenly could not live within their means to print trillion, and other denomination, coins, in the shining example of their government. The OC Register reports that eighteen counties were affected in the CalFresh chaos (the ‘friendly’ name given to California’s food stamp program – also formerly known as the Supplemental Nutrition Assistance Program or SNAP). While we worry for the strippers and liquor stores, CalWIN and Xerox (the state’s primary contractor for administering CalFresh) developed a process to reactivate the cards by Tuesday morning. While this must have been a tough day or two for many, we wonder if Geithner’s ‘extraordinary’ efforts to extend the debt ceiling deadline have perhaps gone a little too far?Finally, instead of minting coins, perhaps Hewlett Packard can remotely update its software in the Fed printers, which can then proceed to print a few cool extra trillion unsupervised, and voila: all of America’s problems are gone.
– US government spent $80.4 bn on food stamps in 2012 (PressTV, Jan 6, 2013):
The US government has spent a record USD 80.4 billion on food stamps, the Supplemental Nutrition Assistance Program (SNAP) that helps Americans who cannot afford to buy food.
According to the US Department of the Treasury, the federal government has paid out USD 80,401,000,000 for food stamps during fiscal year (FY) of 2012 (from October 1, 2011 to September 30, 2012), increasing the amount by USD 2.7 billion from previous year.
Continue reading »
– America’s PhDs On Foodstamps (ZeroHedge, Jan 8, 2013):
When job hunting in one’s field turns tough, college graduates may return to school for another degree (even in economics). But for some Americans, multiple degrees won’t guarantee a job in their field (or even at the Fed) – or even keep them above the poverty level… Over the past few years, more and more highly educated people have turned to food stamps and other forms of welfare for help…
– 50 Predictions For 2013 (Economic Collapse, Jan 1, 2013):
Are you ready for a wild 2013? It should be a very interesting year. When the calendar flips over each January, lots of people make lots of lists. They make lists of “resolutions”, but most people never follow through on them. They make lists of “predictions”, but most of those predictions always seem to end up failing. Well, I have decided to put out my own list of predictions for 2013. I openly admit that I won’t get all of these predictions right, and that is okay. Hopefully I will at least be more accurate than most of the other armchair prognosticators out there. It is important to look ahead and try to get a handle on what is coming, because I believe that the rest of this decade is going to be extraordinarily chaotic for the U.S. economy. The false bubble of debt-fueled prosperity that we are enjoying right now is not going to last much longer. When it comes to an end, the “adjustment” is going to be extremely painful. Those that understand what is happening and have prepared for it will have the best chance of surviving what is about to hit us. I honestly don’t know what everybody else is going to do. Many of the people that don’t see the coming collapse approaching will be totally blindsided by it and will totally give in to despair when they realize what has happened. But there is no excuse for not seeing what is coming – the signs are everywhere.
So with that being said, the following are 50 bold predictions for 2013… Continue reading »
Tags: Barack Obama, Ben Bernanke, Bonds, Collapse, Debt, Derivatives, Derivatives market, Economy, EU, Europe, Fed, Federal Reserve, Food stamps, Genetically Modified Organisms, Global News, GMO, Government, Middle East, Obama administration, Politics, Society, Stock Market, U.S., Unemployment
– 16 Things About 2013 That Are Really Going To Stink (Economic Collapse, Dec 28, 2012):
The beginning of the year has traditionally been a time of optimism when we all look forward to the exciting things that are going to happen over the next 12 months. Unfortunately, there are a whole bunch of things about 2013 that we already know are going to stink. Taxes are going to go up, good paying jobs will continue to leave the country, small businesses will continue to be destroyed, the number of Americans living in poverty will continue to soar, our infrastructure will continue to decay, global food supplies will likely continue to dwindle and the U.S. national debt will continue to explode. Our politicians continue to pursue the same policies that got us into this mess, and yet they continue to expect things to magically turn around. But that is not the way that things work in the real world. Bad decisions lead to bad outcomes. Instead of realizing that what we are doing is not working, our “leaders” continue to give us more of the same. As a result, there are going to be a lot of things about 2013 that will not be great. Sticking our heads in the sand and pretending that everything will be “okay” somehow is not going to help anyone. We’ve got to make people understand exactly what is happening and why it is happening if we ever hope to see real changes.
The following are 16 things about 2013 that are really going to stink… Continue reading »
Tags: Barack Obama, Collapse, Debt, Economy, Food, Food stamps, Global News, Government, Middle Class, Obama administration, Politics, Poverty, Society, Stock Market, Taxes, Taxpayers, U.S., Unemployment, Wall Street
– 75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe (Economic Collapse, Dec 20, 2012):
What a year 2012 has been! The mainstream media continues to tell us what a “great job” the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class. It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening. If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode. Just “tweaking” things slightly is not going to fix our economy. We need a fundamental change in direction. Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic “adjustment” that America has ever gone through. We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done. Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up.
The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year. Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones. Sadly, most Americans still tend to doubt that we are heading into economic oblivion. So if you have someone among your family and friends that believes that everything is going to be “just fine”, just show them these numbers. They are a good summary of the problems that the U.S. economy is currently facing.
The following are 50 economic numbers from 2012 that are almost too crazy to believe… Continue reading »
– 15 Signs That The Economy Is Rapidly Getting Worse As We Head Into 2013 (Economic Collapse, Dec 10, 2012):
How can the mainstream media claim that the U.S. economy is “improving” when it is painfully obvious to anyone with a brain that the middle class is being absolutely eviscerated? According to numbers that were just released, the number of Americans on food stamps rose by more than 600,000 in a single month to an all-time record high of 47.7 million. Youth unemployment in the U.S. is at a post-World War II high and large companies have announced the elimination of more than 100,000 jobs since Barack Obama won the election. Consumer debt just hit a new record high and the federal government is accumulating debt at a much faster pace than it was at this time last year. So where is the evidence that the economy is getting better? The mainstream media says that the decline of the unemployment rate to “7.7 percent” is evidence that things are improving, but I showed how fraudulent that number is yesterday. The percentage of working age Americans with a job today is exactly where it was back in September 2009 in the midst of the last major economic crisis. The mainstream media is desperate for any shred of evidence that it can use to make people feel good and show that the Obama administration has our economy on the right track, and so they jump on any number that even looks remotely promising and they ignore mountains of evidence to the contrary. They don’t seem to care that poverty is absolutely exploding and that the number of Americans on food stamps has risen by nearly 50 percent while Obama has been in the White House. They don’t seem to care that the U.S. share of global GDP has fallen from 31.8 percent in 2001 to 21.6 percent in 2011. They don’t seem to care that more good paying jobs are being shipped overseas with each passing day. They don’t seem to care that formerly great U.S. cities that were once the envy of the entire globe are now crime-infested hellholes. All they seem to care about is putting out news that makes people feel warm and fuzzy and making sure that Obama looks good. Unfortunately, the truth is that the U.S. economy is steadily getting worse, and 2013 is not looking very promising at all right now. Hopefully at some point the mainstream media will take a break from coverage of the royal pregnancy and the latest celebrity scandals to report on the real problems that we are facing right now.The following are 15 signs that the economy is rapidly getting worse as we head into 2013… Continue reading »
– Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months (ZeroHedge, Dec 10, 2012):
And we thought last month’s delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August’s 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. It is unclear just which atmospheric phenomenon will get the blame for this unprecedented surge in poverty, which comes at a time when the pre-election economic data euphoria was adamant that the US economy was on an escape velocity to utopia. Instead what we do know is that in August and September, over three times as many foodstamp recipients were add to the economy as jobs (324,000). We also know that with the imminent impact of Sandy, which will send foodstamp recipients soaring, it is now looking quite possible that the US may end 2012 with just over a mindboggling 50 million Americans living in absolute poverty and collecting the $134.29 average monthly benefit per person, instead of working. Welcome to the recovery indeed.Individual Americans on foodstamps:
Foodstamps at the household level rose to a record 24 million:
Aggregating foodstamp, disability and nonfarm payrolls data shows that since the start of the Depression in December 2007, 21.8 million Americans have shifted more or less permanently to the entitlement line, even as the US still has to generate 4.4 million jobs just to break even.
And the same shown on a monthly basis:
– America’s Lost Decade In One Simple Chart (ZeroHedge, Nov 28, 2012):
Forget the stock market’s dismal decade of much-ado-about-nothing and ignore the USD Dollar’s declination; when it comes to reflection on what this once great nation has ‘created’ since 2001, the following chart from Pennsylvania’s Department of Public Welfare sums it up better than most.
– Why $16 Trillion Only Hints At The True U.S. Debt (Wall Street Journal, Nov 26, 2012):
“The actual liabilities of the federal government—including Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.”
– More Americans Will Use Food Stamps For Thanksgiving This Year Than Ever Before (U.S. News, Nov 20, 2012):
More Americans will use food stamps to buy their Thanksgiving dinner this year than ever before, according to a new report from the nonprofit government watchdog group The Sunlight Foundation.
The Food Stamp Challenge, which challenges higher-income families to live as if they are on food stamps, estimates that a person on food stamps has a budget of about $1.25 per meal. In other words, a family on food stamps must buy an entire meal per person for less than the cost of an average cup of coffee.
– The Worst Economic Numbers In More Than A Year (Economic Collapse, Nov 15, 2012):
With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs. Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011. The unfortunate truth is that things are not getting better. The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months. Continue reading »