Photo: RobertFrancis on flickr
If you know someone that believes that the U.S. economy is in great shape, just show that person the following statistics. But please don’t show these statistics to anyone that is feeling depressed or that has just lost a job – it might push such a person over the edge.
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The sad truth is that the U.S. economy is in the midst of a long-term decline and it is coming apart at the seams.
Right now the Obama administration and the Federal Reserve are attempting to “paper over” our economic problems with massive amounts of government debt and paper currency, but in the end it is not going to work.
When you analyse the numbers objectively, it leads to the inescapable conclusion that we are headed for another Great Depression. That is a very depressing thought, but there is no denying that decades of debt and incredibly bad decisions are starting to catch up with us. he economic pain that is coming is going to be absolutely mind blowing.
It would be nice if our politicians and our business leaders suddenly started making incredibly wise decisions so that we could bring the U.S. economy in for a “soft landing”, but the chance of that happening is so small that it is not even worth mentioning.
It is time for all of us to face up to the truth. In this day and age it is really easy to get caught up in the trap of feeling depressed, but once we understand exactly how bad our problems are it can be empowering because then we can start focusing on solutions.
The Obama administration projects that the federal budget deficit will be approximately $1,600,000,000,000 this year
Right now the Republicans and the Democrats are fighting tooth and nail over budget cuts.
The Republicans are proposing to cut the budget deficit by 3.8%. The Democrats only want to cut it by 2.1%.
Source: The White House
The U.S. economy actually grew more between 1930 and 1940 than it did during the decade that recently ended
Over the last decade, the number of Americans without health insurance has risen from about 38 million to about 52 million
According to the U.S. Energy Department, the average U.S. household will spend approximately $700 more on gasoline in 2011 than it did during 2010
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
According to the Economic Policy Institute, almost 25 per cent of U.S. households now have zero net worth or negative net worth
The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade organisation in 2001
U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market in 2005
According to RealtyTrac, one out of every 45 U.S. households was hit with a foreclosure filing in 2010
The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010
In 2010, one out of every eight American families had at least one family member that was unemployed. That number was the highest it has been since the U.S. labour Department began keeping track of that statistic back in 1994.