The vast majority of the talking heads on television are still speaking of the current economic collapse as if it is a temporary "recession" that will soon be over. So far, the vast majority of the American people seem to believe this as well, although for many Americans there is a very deep gnawing in the pit of their stomachs that is telling them that there is something very, very wrong this time around. The truth is that the foundations of the U.S. economy have been destroyed by an orgy of government, corporate and individual debt that has gone on for decades. It was the greatest party in the history of the world, but now the party is over. The following are 11 signs from just this past month that show that the U.S. economy is headed into the toilet and will not be recovering....
#1) When even Wal-Mart is closing stores you know things are bad. Wal-Mart announced on Monday that it will close 10 money-losing Sam's Club stores and will cut 1,500 jobs in order to reduce costs. So if even Wal-Mart has to shut down stores, what chance do other retailers have?
#2) Americans are going broke at a staggering pace. 1.41 million Americans filed for personal bankruptcy in 2009 - a 32 percent increase over 2008.
#3) American workers are working harder than ever and yet making less. After adjusting for inflation, pay for production and non-supervisory workers (80 percent of the private workforce) is 9% lower than it was in 1973. But those Americans who do still have jobs are the fortunate ones.
#4) Unemployment is absolutely exploding all over the United States. Minority groups have been hit particularly hard. For example, unemployment on many U.S. Indian reservations is over 80 percent.
#5) Unfortunately the employment situation is showing no signs of turning around. December was actually the worst month for U.S. unemployment since the so-called "Great Recession" began.
#6) So just how bad are things when compared to past recessions? During the 2001 recession, the U.S. economy lost 2% of its jobs and it took four years to get them back. This time the U.S. economy has lost more than 5% of its jobs and there is no sign that the bleeding of jobs will stop any time soon.
#7) Can you imagine trying to get your first job in this economic climate? Our young men and women either can't get work or have given up on work altogether. The percentage of Americans 16 to 24 who have jobs is 13 percent lower than ten years ago.
#8) So where did all the jobs go? Over the past few decades we have allowed the corporate giants to ship mountains of American jobs overseas, and there are signs that this trend is only going to get worse. In fact, Princeton University economist Alan S. Blinder estimates that 22% to 29% of all current U.S. jobs will be offshorable within two decades. So get ready for even more of our jobs to be shipped off to Mexico, China and India.
#9) All of these job losses are leading to defaults on mortgages. Over the past couple of years we have seen the American Dream in reverse. According to a report that was just released, delinquent home loans at government-controlled mortgage finance giants Fannie Mae and Freddie Mac surged 20 percent from July through September.
#10) But that is nothing compared to what is coming. A massive "second wave" of mortgage defaults is getting ready to hit the U.S. economy starting in 2010. In fact, this "second wave" is so frightening that even 60 Minutes is reporting on it.
#11) Meanwhile, the Federal Reserve has announced that it made a record profit of $46.1 billion in 2009. Apparently during this economic crisis it is a very good time to be a bankster.
[...] 11 Clear Signs That The U.S. Economy Is Headed Into The Toilet [...]
The reality is that there is no recovery whatsoever. Higher prices do not signal a world recovery has arrived. On the contrary it signals the beginning of an inflationary cylce about to rev up. The printing of money around the globe and at the Federal Reserve is starting to be noticed. The debasing of currency is the root cause of inflation. We will soon see Oil, Gas, and Gold, Silver and Food Skyrocket while the Dollar tries to find terminal velocity as it plummets to the ground. Be prepared folks the Greatest Depression of all time is at the door and it doesn’t matter whether you believe it or not, It is what is. Catch my radio show tonight 1/13/10 at 11pm EST at
http://www.blogtalkradio.com/newamericanow
http://www.newamerica-now.blogspot.com
http://www.youtube.com/user/newamericanow
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[...] 11 Clear Signs That The U.S. Economy Is Headed Into The Toilet [...]
Excellent points!! However, you didn’t finish answering #8 “Where did all those jobs go?” If you’re talking about service jobs and construction jobs, you only have to look to some of the 30 to 40 million illegal aliens, mostly Mexican nationals, who’ve taken our jobs and severely undercut our small businesses, forcing them out of business.
Also, #3 “American workers are working harder and making less”. Some of that is directly attributable to the mass invasion over the last 24 years by illegal aliens. Heritage has done numerous studies of the effects that mass immigration (most of it illegal) has on U.S. jobs and they cause wages to go down.
[...] 11 Clear Signs That The U.S. Economy Is Headed Into The Toilet. Digg [...]
Well in my opinion the worst thing we can do
is mention that it is going down the tubes
and this makes matters even worse.
People get scared and don’t spend.
DUH!
It’s already in the toilet. I just hope no one flushes.
Let’s add:
Sign #12 that the US economy is headed into the toilet: Americans continue buying imported goods thereby ensuring that they and their neighbors will lose their jobs.
The article is good but states the obvious. People, driven to desperation, are now about to elect the Republican Brown in Mass. as if that is going to help them, somehow. BOTH parties are in on the swindle and gradually, the most dedicated Republicans and the most sincere Democrats are realizing it.
The result is the spontaneous break out of disaffected voters from both parties with the “official” (= corporatist and special interest controlled) party members scrambling to try and regain control. Tea parties for the Repubs and health care and anti-war demonstrations by the Demos examples. Eventually, the two groups will find commonality in their situation and JOIN.
Then the real ACTION begins. Reforms, REAL reforms will happen FAST AND HARD.
Watch the fun, there’s no stopping it, wherever it leads. As for the “official” politicians, media, and corporatists, accept your political overthrow and try to reform yourselves. Enjoy political gulag – you’ve EARNED it!
we got no one blame but ourselves, buying up crap from china and india like it was going out of style. the last time i shopped at walmart they had signs everywhere, “made in america”. haven’t been back since. americans are literally shopping themselves out of work. thinking they’re saving two nickels on that pair of socks from chimart. maybe we ought to bring slavery back (republicans would love that) so we can compete with china.
Sign #12?
Fact is, people have no choice. You either buy imported goods or live off of the grid. The collusion of government and Corporations made sure we have that as our “no choice”.
Vote all encumbants out (except Ron Paul and maybe a few others).
Lobby against the Fed.
And keep educating yourself and others as to what is going on. Recommended book that I read recently, “Hamilton’s Curse”. Lays it out very clearly. Would suggest reading it even if it is the only book you read this year.
We already have slavery (illegal immigration) and its the Democrats who are pushing for more, thats because there ain’t a dimes worth of difference between repubs and dems. Politics almost doesn’t matter at this point anyway.
Not sure why so many people are referring to the massive debt as the main issue here. If you do some homework you can quickly retrieve info that clearly states the debt and the coming debt as a percentage of gdp is not the highest in the history of our country. The problem is our expected expenditure increases on government programs. Healthcare spending is by far the most expensive and possibly crippling of them all. The idea that this country will collapse into some state of civil unrest is a little over the top I think. While you go buy up all the ammunition and hunker down, I hope the clearer heads will come up with a way to limit the governmental programs that could really cause a collapse in the future. People should pay close attention to the upcoming debate on healthcare and vote for the person who is most radically conservative with your tax dollars.
Good points made.
Let’s add lucky #13 and #14. #13) The U.S. economy is subject to the imminent departure of the usdollar as the global standard currency for oil purchases as well as its status as a global currency. #14) To add injury to insult the U.S. is on the battle field in (2)two countries and Instigating a 3rd.
The World is on an exponential population and financial trajectory which will ultimately collapse. The Club of Rome and Bilderberg Group are aware of this issue. They want to lead the World to a utopian state at balance with nature. US society has in many ways lost its way and its structure is not leading to scientific excellence, rapid technological innovation and pushing the limits of human artist creation and endeavour. The USA has lost its way and become demoralized. Bilderberg et al. shows a way forward: (a) rapid World population reduction from circa 7 billions to less than 1 billion people; (b) switch to renewable energy systems requiring a massive reduction in standard of living; (c) removal of inefficient financial structures, like the destruction of the London Stock exchange and Wall Street. Banking institutions will be required to a lesser extent when a single World currency is applied, controlled from a single World bank. What we presently have in the World is a mad hatter’s tea party of meaningless over consumption, morally debased social values and so forth. What we need is to usher in a New World Order which will correct the morally debased manner in which society has evolved to replace it with something better. Do not work against the New World Order, but rather support it so that it can be established as rapidly as possible and bring humanity back to a meaningful and structured way forward to utopia.
The one major thing that has caused all this economic despair is corporations lobbying government to get their deal through, nothing else mattered and the government obliged them and still nothing has changed, in fact the supreme court is all for it.
If you know the Lord personally, you will be fine. He has always provided for His own, maybe not in the way Americans are use to but look at history of people in the Bible who honored and feared the Lord. If you say you don’t believe in the Bible, well that is primarily the reason our world is going down. Its no mystery, any civilization that doesn’t fear the Lord and Honor God eventually collapses. It always happens.
Here is what is going to happen next, read below. If you don’t know the Bible, you might want to read it, cling to it, and find your refuge and protection in the Lord Jesus Christ. HE is your only and best hope. He is all you need.
Revelation 6 NIV
The Seals
1I watched as the Lamb opened the first of the seven seals. Then I heard one of the four living creatures say in a voice like thunder, “Come!” 2I looked, and there before me was a white horse! Its rider held a bow, and he was given a crown, and he rode out as a conqueror bent on conquest.
3When the Lamb opened the second seal, I heard the second living creature say, “Come!” 4Then another horse came out, a fiery red one. Its rider was given power to take peace from the earth and to make men slay each other. To him was given a large sword.
5When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. 6Then I heard what sounded like a voice among the four living creatures, saying, “A quart[a] of wheat for a day’s wages,[b] and three quarts of barley for a day’s wages,[c] and do not damage the oil and the wine!”
7When the Lamb opened the fourth seal, I heard the voice of the fourth living creature say, “Come!” 8I looked, and there before me was a pale horse! Its rider was named Death, and Hades was following close behind him. They were given power over a fourth of the earth to kill by sword, famine and plague, and by the wild beasts of the earth.
9When he opened the fifth seal, I saw under the altar the souls of those who had been slain because of the word of God and the testimony they had maintained. 10They called out in a loud voice, “How long, Sovereign Lord, holy and true, until you judge the inhabitants of the earth and avenge our blood?” 11Then each of them was given a white robe, and they were told to wait a little longer, until the number of their fellow servants and brothers who were to be killed as they had been was completed.
12I watched as he opened the sixth seal. There was a great earthquake. The sun turned black like sackcloth made of goat hair, the whole moon turned blood red, 13and the stars in the sky fell to earth, as late figs drop from a fig tree when shaken by a strong wind. 14The sky receded like a scroll, rolling up, and every mountain and island was removed from its place.
15Then the kings of the earth, the princes, the generals, the rich, the mighty, and every slave and every free man hid in caves and among the rocks of the mountains. 16They called to the mountains and the rocks, “Fall on us and hide us from the face of him who sits on the throne and from the wrath of the Lamb! 17For the great day of their wrath has come, and who can stand?”
You can bet we are headed for a lot of turmoil and perhaps the rising of another strong Hitler like figure who will try to take back the country from the greedy. Hopefully this new political wave coming will focus on America and not use old corporate 3rd world raiding practices like in the past.
Imagine – we have advanced tenfold in science in the last 50 years – yet we still have starving and people dying with no healtcare in this seemingly rich country. This makes the greedy look even more cruel and inhuman.
Thank you for this brilliant article! After Obama’s press conference today telling small business to borrow (from who?) so business will hire, this article is timely. I shared it on facebook – thank you!!
@ Dr Tim Norris.
I don’t think that the intentions of the Club of Rome and the Bilderberg Group are as benevolent as you suggest.
It is clear that it is a combination of many things that have brought us to this point in US. Illegal immigration, huge government intrusion, over-regulation, health care costs, frivolous litigation, etc., I can understand why companies move overseas. Ridiculous taxation, regulation, intrusion, health care mandates, loss of freedom, etc. Just some of the things contributing to US economic trouble.
Get govt. out of the way and private sector would fix most of the problem and most Americans would benefit from the fix. Those left out of the prosperity of America, usually want to be left out. There are exceptions, and injustice it out there. But it isn’t Govt. that should deal with the social ills of our world. Where is the Church?
Next!
Reagan conservatism is the best hope for change.
Although banks are greedy and Wall Street plunders the fundamental cause of all the cononimic upheaval is job destruction and wage stagnation. Jeremy Rifkin in his 1994 book “The End of Work” explains the 3rd Industrial Revolution arrived in 1940 and has now been replaced by the 4th Industrial Revolution which arrived in the 1960’s (aronud 1968). Since the arrival of the 4th Industrial Revolution 60 million U.S. jobs have been destroyed. Job destruction and wage stagnation is permanent and escalating because the Ownership Class is Hell-bent on total automation so that they do not have to pay wages and commissions to human beings any more. The true unemployment rate in the U.S. today is 20% and will explode to 30% by 2020, 40% by 2030, 60% by 2040 and 95% by 2050 A.D.
A simple equation describes it all: Technology + Greed = Job Destruction + Wage Stagnation. The Ownership Class has decided to earn its money with computers, super computers, the information network, robots and
endless new technology and it will NOT GIVE ANY MORE MONEY to the Middle and Lower Classes who will become permanently unemployed and penniless- forcing governments around the world to dole out free housing, food, clothing, education,insurance and transportation lest civul unrest and violence occur. And the horror is about esclating job destruction is…..NOTHING CAN STOP IT!
Well we allowed it. The illegals costs hundreds of billions of dollars per year, they take out jobs and we pay for them to be here, and now jobs are gone… I haven’t worked in years even though I apply for every position with open hours and I have years of retail experience. I do believe the economy will collapse, and I am really disgusted with this country and how it ignores its citizens and rewards the criminals.
Liberals are mentally ill and evil. Vote them all out.
the majority of republicans are mentally ill, most believing in armageddon and invisible voices that arent thier being conservative christians so bill, thats like the pot calling the kettle black. when you believe in something long enough with enough christians believing were all doomed, things tend to unfold as they do and life teaches its own lessons and people get what they deserves.
much of the “job loss” is due to technology advancing and getting rid of jobs, an example is newspapers being less important and folding due to the internet. also overpopulation makes it hard for new buisnesses and technology to develope using search engines that are based on popular views, because unless you have 1 billion to advertise your buisness on tv, your new buisness’s or technologys searchs result at 9,235,231 will not be read,most people dont go past page 2. in all overpopulation and technology as well as increases in visual technology make money less important and technology more important. the financial system set up is defunct, designed to support a few rather than the masses as well as completely corrupt, always has been always will be.