Photo: Associated Press
Right now, we are witnessing a truly historic collapse of the economy, and yet most Americans do not understand what is going on. One of the biggest reasons why the American people do not understand what is happening to the economy is because our politicians and the mainstream media are not telling the truth.
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Barack Obama and Federal Reserve Chairman Ben Bernanke keep repeating the phrase “economic recovery” over and over, and this is really confusing for most Americans because things sure don’t seem to be getting much better where they live.
There are millions upon millions of Americans that are sitting at home on their couches right now wondering why they lost their jobs and why nobody will hire them. Millions of others are wondering why the only jobs they can get are jobs that a high school student could do. Families all across America are wondering why it seems like their wages never go up but the price of food and the price of gas continue to skyrocket.
We are facing some very serious long-term economic problems in this country, and we need to educate the American people about why the collapse of the economy is happening.
If the American people don’t understand why they are losing their jobs, why they are losing their homes and why they are drowning in debt then they are going to keep on doing all of the same things that they have been doing. They will also keep sending the same idiot politicians back to Washington to represent us. There are some fundamental things about the economy that every American should know.
The American people need to be shocked out of their entertainment-induced stupor long enough to understand what is really going on and what needs to be done to solve our nightmarish economic problems. If we do not wake up enough Americans in time, the economic collapse that is coming could tear this nation to shreds.
The U.S. economy was once the greatest economic machine in modern world history. It was truly a wonder to behold. It worked so well that entire generations of Americans came to believe that America would enjoy boundless prosperity indefinitely.
But sadly, prosperity is not guaranteed for any nation. Over the past several decades, some very alarming long-term economic trends have developed that are absolutely destroying the economy. If dramatic changes are not made soon, a complete and total economic collapse will be unavoidable.
Unfortunately, the American people will never agree to fundamental changes to our economic and financial systems unless they are fully educated about what is causing our problems. We have turned our backs on the principles of our forefathers and the principles of those that founded this nation. We have rejected the ancient wisdom that was handed down to us.
It has been said that those that sow the wind, shall reap the whirlwind.
We are about to experience the consequences of decades of really bad decisions.
Hopefully we can get the American people to wake up.
If we calculated unemployment and inflation the same way we did back during the Carter administration, then the Misery Index today would be higher than at any point during the presidency of Jimmy Carter, according to John Williams of Shadow Government Statistics
An average of about 5 million Americans were being hired every single month during 2006, according to the U.S. Bureau of labour Statistics. Today, an average of about 3.5 million Americans are being hired every single month
There are 5.5 million Americans that are currently unemployed and yet are not receiving unemployment benefits, according to the Wall Street Journal
Investors can now buy up government-owned power plants, prisons and municipal buildings from coast to coast. For example, the mayor of Newark, New Jersey recently sold off 16 government buildings (including the police and fire headquarters) just to pay some bills.
Credit card usage in the United States is on the increase once again. During the month of March, revolving consumer credit jumped 2.9%
The U.S. government now says that the Medicare trust fund will run out five years faster than they were projecting just last year
The Mississippi River flooding could do $2 billion in damage to farmland alone, according to a Mississippi State University economist
The number of very sick fish in the Gulf of Mexico is really starting to alarm scientists. The following is how one local newspaper recently described the situation....
Scientists are alarmed by the discovery of unusual numbers of fish in the Gulf of Mexico and inland waterways with skin lesions, fin rot, spots, liver blood clots and other health problems.
All over America, hospitals that care for the poor and needy are so overwhelmed and are so broke that they are being forced to shut down
Recently, a local newspaper in Floridaran an article about two prominent charity hospitals in Illinois that have served the poor for more than 100 years but are now asking for permission to shut down....
Two charity hospitals in Illinois are facing a life-or-death decision. There's not much left of either of them - one in Chicago's south suburbs, the other in impoverished East St. Louis - aside from emergency rooms crowded with patients seeking free care. Now they would like the state's permission to shut down.
An item that cost $20.00 in 1970 would cost you $115.93 today. An item that cost $20.00 in 1913 would cost you $454.36 today
U.S. oil companies will bring in about $200 billion in pre-tax profits this year. They will also receive about $4.4 billion in specialised tax breaks from the U.S. government
It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year. Their biggest customer is the United States
There are minerals worth over a trillion dollars under the ground in Afghanistan, according to the Pentagon. Now, J.P. Morgan is starting to tap those riches with the help of the U.S. military
J.P. Morgan is actually the largest processor of food stamp benefits in the United States. In fact, the more Americans that go on food stamps the more money that J.P. Morgan makes
There are over 44 million people on food stamps, and one out of every four American children is on food stamps
Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid
Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history
Today, the world financial system has been turned into a giant financial casino where bets are made on just about anything you can possibly imagine, and the major Wall Street banks make a ton of money from this betting system. The system is largely unregulated (the new 'Wall Street reform' law has only changed this slightly) and it is totally dominated by the big international banks. The danger from derivatives is so great that Warren Buffet once called them 'financial weapons of mass destruction'. It is estimated that the 'derivatives bubble' is somewhere in the neighbourhood of a quadrillion dollars, and once it pops there isn't going to be enough money in the entire world to bail everyone out.
Between December 2000 and December 2010, the United States ran a total trade deficit of 6.1 trillion dollars with the rest of the world, and the U.S. has had a negative trade balance every single year since 1976
The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade organisation in 2001, and the U.S. trade deficit with China is now 27 times larger than it was back in 1990
In the city of Detroit today, there are over 33,000 abandoned houses, 70 schools are being permanently closed down, the mayor wants to bulldoze one-fourth of the city and you can literally buy a house for one dollar in the worst areas
During the first three months of this year, less new homes were sold in the U.S. than in any three month period ever recorded
U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble
The average CEO made 343 times more money than the average American did last year, according to a new report from the AFL-CIO
The European debt crisis could cause a global financial collapse like the one that we saw in 2008 at any time
The world economy is incredibly interconnected today, and the United States would not be immune. A recent IMF report stated the following about the growing sovereign debt crisis in Europe....
Strong policy responses have successfully contained the sovereign debt and financial-sector troubles in the euro area periphery so far. But contagion to the core euro area and then onward to emerging Europe remains a tangible risk.
The 50 U.S. state governments are collectively 3.2 trillion dollars short of what they need to meet their pension obligations
A different study has shown that individual Americans are $6.6 trillion short of what they need to retire comfortably
Health care costs accounted for just 9.5% of all personal consumption back in 1980, according to the Bureau of Economic Analysis. Today they account for approximately 16.3%
One study found that approximately 41 per cent of working age Americans either have medical bill problems or are currently paying off medical debt
The combined debt of the major GSEs (Fannie Mae, Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011. Thanks to our politicians, U.S. taxpayers are standing behind that debt
The U.S. government is over 14 trillion dollars in debt and the budget deficit for this year is projected to be about 1.5 trillion dollars
However, if the U.S. government was forced to use GAAP accounting principles (like all publicly-traded corporations must), the U.S. government budget deficit would be somewhere in the neighbourhood of $4 trillion to $5 trillion each and every year.
The U.S. government spent over 413 billion dollars on interest on the national debt during fiscal 2010, and it is being projected that the U.S. government will be shelling out 900 billion dollars just in interest on the national debt by the year 2019
In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for 18.4% of all income
U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes
The percentage of millionaires in Congress is more than 50 times higher than the percentage of millionaires in the general population
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