Photo: Kevin Bauman
The economic statistics that you are about to read are incredibly shocking, but they are also very, very real. Tonight there are going to be millions of men and women all across America that cannot sleep because they are consumed with anxiety about their financial problems.
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Even as you read this, there are a lot of parents out there that are trying to figure out how to explain to their children why their homes are being taken away. There are also hordes of very hard working Americans that are incredibly frustrated because they have sent out thousands of resumes and yet they can’t seem to get a job interview.
Have you ever been at a point where you couldn’t pay the mortgage or put food on the table for your family? It can be an absolutely soul-crushing experience. In fact, there are some cities in the U.S. that have been so utterly devastated by this economy that it seems as though virtually everyone has had the hope sucked right out of them.
The mainstream media is trying to convince all of us that we are in an economic recovery, but that is a lie. The truth is that we are in the middle of a long-term economic decline and the greatest economy in the history of the world is dying right in front of our eyes.
The average American family is under more economic stress right now than at any other time since the Great Depression.
According to John Williams of Shadow Government Statistics, if the U.S. government measured inflation the way that it did before 1980 the inflation rate would be much different.
For example, Williams says that inflation rose at a 9.6 annual rate during the month of February using the old measurement.
And the average price of a gallon of gasoline in America is now about $3.79.
At this point, the average price of gasoline is about one dollar higher than it was one year ago.
Since the average American household goes through about 750 gallons of gas a year, that means that in 2011 American families will spend somewhere around $750 more for gas.
So just what is the average American family supposed to do if a gallon of gasoline soon costs 4 or even 5 dollars a gallon?
U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market in 2005
Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months
According to the U.S. Bureau of labour Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks
The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade organisation in 2001
Average household debt in the United States has now reached a level of 136% of average household income
1.5 million Americans filed for bankruptcy in 2010 -- that represented the fourth yearly increase in bankruptcy filings in a row
Over the last decade, the number of Americans without health insurance has risen from about 38 million to about 52 million
One study found that approximately 41 per cent of working age Americans either have medical bill problems or are currently paying off medical debt
According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 per cent of all personal bankruptcies in the United States
Almost 25 per cent of all U.S. households now have zero or negative net worth -- in 2007, that number was just 18.6 per cent
Employee compensation in the US is the lowest it has been relative to gross domestic product in over 50 years
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