The Beginning Of The End
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17 Facts To Show To Anyone That Believes That The U.S. Economy Is Just Fine

17No, the economy is most definitely not "recovering".  Despite what you may hear from the politicians and from the mainstream media, the truth is that the U.S. economy is in far worse shape than it was prior to the last recession.  In fact, we are still pretty much where we were at when the last recession finally ended.  When the financial crisis of 2008 struck, it took us down to a much lower level economically.  Thankfully, things have at least stabilized at this much lower level.  For example, the percentage of working age Americans that are employed has stayed remarkably flat for the past four years.  We should be grateful that things have not continued to get even worse.  It is almost as if someone has hit the "pause button" on the U.S. economy.  But things are definitely not getting better, and there are a whole host of signs that this bubble of false stability will soon come to an end and that our economic decline will accelerate once again.  The following are 17 facts to show to anyone that believes that the U.S. economy is just fine...

#1 The homeownership rate in the United States has dropped to the lowest level in 19 years.

#2 Consumer spending for durable goods has dropped by 3.23 percent since November.  This is a clear sign that an economic slowdown is ahead.

#3 Major retailers are closing stores at the fastest pace that we have seen since the collapse of Lehman Brothers.

#4 According to the Bureau of Labor Statistics, 20 percent of all families in the United States do not have a single member that is employed.  That means that one out of every five families in the entire country is completely unemployed.

#5 There are 1.3 million fewer jobs in the U.S. economy than when the last recession began in December 2007.  Meanwhile, our population has continued to grow steadily since that time.

#6 According to a new report from the National Employment Law Project, the quality of the jobs that have been "created" since the end of the last recession does not match the quality of the jobs lost during the last recession...

  • Lower-wage industries constituted 22 percent of recession losses, but 44 percent of recovery growth.
  • Mid-wage industries constituted 37 percent of recession losses, but only 26 percent of recovery growth.
  • Higher-wage industries constituted 41 percent of recession losses, and 30 percent of recovery growth.

#7 After adjusting for inflation, men who work full-time in America today make less money than men who worked full-time in America 40 years ago.

#8 It is hard to believe, but 62 percent of all Americans make $20 or less an hour at this point.

#9 Nine of the top ten occupations in the U.S. pay an average wage of less than $35,000 a year.

#10 The middle class in Canada now makes more money than the middle class in the United States does.

#11 According to one recent study, 40 percent of all Americans could not come up with $2000 right now even if there was a major emergency.

#12 Less than one out of every four Americans has enough money put away to cover six months of expenses if there was a job loss or major emergency.

#13 An astounding 56 percent of all Americans have subprime credit in 2014.

#14 As I wrote about the other day, there are now 49 million Americans that are dealing with food insecurity.

#15 Ten years ago, the number of women in the U.S. that had jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin.  But now the number of women in the U.S. on food stamps actually exceeds the number of women that have jobs.

#16 69 percent of the federal budget is spent either on entitlements or on welfare programs.

#17 The number of Americans receiving benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.

Taken individually, those numbers are quite remarkable.

Taken collectively, they are absolutely breathtaking.

Yes, things have been improving for the wealthy for the last several years.  The stock market has soared to new record highs and real estate prices in the Hamptons have skyrocketed to unprecedented heights.

But that is not the real economy.  In the real economy, the middle class is being squeezed out of existence.  The quality of our jobs is declining and prices just keep rising.  This reality was reflected quite well in a comment that one of my readers left on one of my recent articles...

It is getting worse each passing month. The food bank I help out, has barely squeaked by the last 3 months. Donors are having to pull back, to take care of their own families. Wages down, prices up, simple math tells you we can not hold out much longer. Things are going up so fast, you have to adopt a new way of thinking. Example I just had to put new tires on my truck. Normally I would have tried to get by to next winter. But with the way prices are moving, I decide to get them while I could still afford them. It is the same way with food. I see nothing that will stop the upward trend for quite a while. So if you have a little money, and the space, buy it while you can afford it. And never forget, there will be some people worse off than you. Help them if you can.

And the false stock bubble that the wealthy are enjoying right now will not last that much longer.  It is an artificial bubble that has been pumped up by unprecedented money printing by the Federal Reserve, and like all bubbles that the Fed creates, it will eventually burst.

None of the long-term trends that are systematically destroying our economy have been addressed, and none of our major economic problems have been fixed.  In fact, as I showed in this recent article, we are actually in far worse shape than we were just prior to the last major financial crisis.

Let us hope that this current bubble of false stability lasts for as long as possible.

That is what I am hoping for.

But let us not be deceived into thinking that it is permanent.

It will soon burst, and then the real pain will begin.

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  • Bruce

    I read all the articles on this site and make many post as well. However, some recently released info about climate change causes me to believe ALL of this may be a moot pont anyway. They are talkng about extinction level climate change and SOON. Apparently even NASA and NOAA agrees we will see major changes as soon as 2020 and unsurvivable changes by 2030!
    It might be wise to search youtube for Guy McPhearson vids. The info he laid out with sources made me pay attention. Sorry for different train of thought.

    • jaded

      Time for another species to thrive… not that we really did.

    • stopthesocialism

      “Climate Change” is pure hype. You can also find articles that say the North Pole would be ice free by now, and the Maldives would be under water. Didn’t happen.

      • acel

        Carbon emissions have most certainly had some sort of effect. We are our own worst enemy. Some of these things may take many many years, doesn’t mean it won’t happen. If only people weren’t so short sighted.

        • LIBERALMENSWALLOWSEMEN

          why are liberal men so effeminate?

          • PotHead69

            Jealous. You must have a fat wife

      • thoomfoote

        Can’t wait to see the publication of your peer reviewed research in meteorology, climatology, geology, glaciology, oceanography and the other earth sciences that support climate change. Keep up the good work.

    • LIBERALMENSWALLOWSEMEN

      lmao

  • ZombieApocMan

    I see absolutely NO recovery in my city. Over the past couple years more retail stores have closed than ever before in this city. The only new complex that has gone up is a new IMAX theater. There’s so much empty retail space and warehouse space it would probably equal the size of a small city now. Most of the hiring jobs are well less than $15 an hr here seems to average $10 an hr. Of course if you go out and about there’s still plenty of people shopping. I myself w/a family of 3+1 dog spend a lot less money now on unnecessary items like movies, cars, tv’s, clothes and other misc items that aren’t really needed. Why our gas prices have recently skyrocketed to over $4 a gln and climbing, our taxes are slightly higher, my health insurance increased $60 a week with our new contract family plan, Food prices have steadily climbed with even smaller packaging, but food is our #1 major expense now. We drive less and go less places. I have No doubt that the Financial collapse will happen again probably with the stock market bubble. I just hope I’m more prepped with not only food and water but baby gear as well. Because I’m sure the next wave of collapse will be much worse than 08.

  • DJohn1

    Gerald Celente seems to think that we can predict an economic collapse as soon as June of this year.
    June until November is not a long time. But it might mean all the difference in the world to those attempting to get re-elected to the Congress.
    I predict that anyone in office right now might find themselves at a distinct disadvange in the coming election no matter what party they are from.
    Anyone interested should study the mini collapse of banks around Texas in 1988-89. People could not get to their money. As a result, many could not pay the mortgages on their homes. The same banks often owned the mortgages and foreclosed those homes even though they had people’s savings accounts at the same bank. The bankruptcy meant that they collected the bills but did not feel obligated to give the people their money back.

    Why am I not surprised?

  • LIBERALMENSWALLOWSEMEN

    ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

  • LIBERALMENSWALLOWSEMEN

    is this the 5th summer of recovery? ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

  • Dave Wilbur

    In The National Debt, the feral (sic) Reserve said: The Federal Reserve, in cooperation with the Federal Government has the inherent power to create money, almosts any amount of it. This power makes technical bankruptcy out of the question.
    I forgot next sentence but it is very important. You may find it with google.

  • Spy#1

    Here is where I stand on the issue. I am in my mid-fifties and long term unemployed. I have a pretty useless 4 year college degree, and have permanently stopped looking for a job. I have been downsized several times. I have had jobs in my working life which could have been considered middle class. I have also had jobs in my working life which were lower class high stress revolving door type jobs such as call center customer service, security…etc. What the majority of people who are unemployed and over the age of 40 don’t realize is that if they regain employment, it will in all likelihood be for much lower pay than their previous job. It will also not have the upward mobility of their previous position. This is not cast in stone, it is however pretty much the norm today. There was a time in this country where a person would be rewarded with a long career for displaying a hard work ethic and loyalty to their company. I am sure almost all of us know this. Today, there is no such thing as a loyal corporation. You can pretty much be singled out for dismissal by age, affirmative action status, and gender. I have worked for two companies in New Mexico: Qwest Communications and Motorola Ceramic Products, where being Hispanic or Native American always trumped ability. I have been called racist for stating this for the simple reason that racism against whites does not exist. You want to get ahead financially? Start you own business where you don’t have to put up with corporate BS.

  • Dewey Olsen

    The Struggle within America—Isaiah Saw It All!
    by Avraham Gileadi Ph.D.

    Many regard Isaiah’s prophecy as a sealed book. Who does it address, only people in the past? A key to this mystery exists in the linear and synchronous structures that govern the book of Isaiah. These enable us to read it as a prophecy about the past but also as a prediction of the future. The book of Isaiah, in other words, serves a twofold purpose. Without taking anything away from what happened in the past, it uses the past as an allegory of the future. In that case, persons and nations of Isaiah’s day typify ones who perform similar roles at the end of the world. The names of past persons and nations function as codenames for their endtime counterparts.

    The importance of understanding Isaiah’s message increases daily as world events line up like planets for the fulfillment of his prophecy. Under the codename “Egypt”—the great superpower of Isaiah’s day—America is predicted to suffer spiritual decline, political ineptitude, economic collapse, internal anarchy, and invasion by a foreign military world power from the North—a latter-day “Assyria.” On the other hand, a community of covenanters in “Egypt” will turn back to Jehovah,
    who will send them a savior and deliver them. In the end, at the commencement of the millennial age, America will again become “my people”—a covenant people of God (Isaiah 19).

    5. 20. 2010

  • Dewey Olsen

    End-Time “Egypt”—A Superpower in Decline
    by Avraham Gileadi Ph.D.

    Isaiah’s use of types of ancient world powers that foreshadow End-Time ones extends to the great superpower Egypt. As with all nations and persons who appear in the book of Isaiah, their true identity emerges when we observe how Isaiah characterizes them, not when we apply historical or archaeological data, though at times that may help. In searching the world today for a nation that matches Isaiah’s description of “Egypt,” the sole candidate is America. That connection is further strengthened by the fact that God’s people anciently dwelt in Egypt, that Joseph ruled Egypt, and that the birthright tribe of Ephraim sprang from Joseph and Asenath, an Egyptian woman.

    Isaiah’s “Egypt,” however, is a superpower in decline: “The ministers of Zoan have been foolish, the officials of Noph deluded; the heads of state have led Egypt astray. Jehovah has permeated them with a spirit of confusion; they have misled Egypt in all that it does, causing it to stagger like a drunkard into his vomit. . . . Manufacturers of combed linen and weavers of fine fabrics will be dismayed. The textile workers will know despair, and all who work for wages suffer distress. . . . I will stir up the Egyptians against the Egyptians; they will fight brother against brother and neighbor against neighbor, city against city and state against state” (Isaiah 19:2, 9–10, 13–14).

    11. 16. 2011

  • Dewey Olsen

    The book of Isaiah—Blueprint of Our Time
    by Avraham Gileadi Ph.D.

    What sets the book of Isaiah apart from all other prophetic writings is its all-inclusiveness in depicting an End-Time scenario. More complete in its portrayal of that time than even apocalyptic writings such as Daniel and Revelation, it spells out a great confluence of events to which humanity may look forward. Using Israel’s ancient history as an allegory of the end of the world, it predicts the future by drawing on events of the past. Only a prophet–poet with extraordinary literary skills could have predicted “the end” based on the world’s beginnings (Isaiah 46:10). Only a visionary who saw both time periods could have crafted such a prophetic masterpiece.

    While the book of Isaiah’s apocalyptic message accords with Jewish tradition, and while literary structures provide proof of its twofold applicability—Isaiah’s day and the end of the world—it still requires a leap of faith to believe that this is indeed a handbook for our time. For one thing, it may mean discarding much or all of what we have been taught. Isaiah foresees this confusion when he speaks of the deaf “hearing” and the blind “seeing” the words of his book. Only then will “they who erred in spirit gain understanding and they who murmured accept instruction” (Isaiah 29:18, 24). Fortunately, not all of God’s people fall in that category (Isaiah 66:2, 5).

    10. 12. 2011

  • Michael Mifsud

    So what is the root cause? GFC triggered this spiral but other factors are making it worse. Is the bailouts linked with money printing?

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  • Bill

    And now the geniuses in government are actually talking Seriously about TAXING THE INTERNET! This will only make matters WORSE not better for anyone. It will destroy More jobs and actually some will actually be forced to choose between food and information. Seeing as how the Obama administration I the most Closed and secretive administration’s ever, this is most likely their goal. A VASTLY more Ignorant publc. This is perfect for politicians as their main goal is to steal from you (and me) and and avoid actually “governing. ” Of course they will be much freer to make more war, which is their hobby to fill in the time while they continue to amass huge amounts of cash at the expense of our wellbeing.

  • Chris Boris Smith

    I’m sure there are plenty of exceptions, but let’s not pretend everybody who’s too broke to buy what they want at Wal-Mart are otherwise pacing their living room, trying to think about what else they can do to contribute to others and themselves.

    I’m not saying we shouldn’t help people, but just be careful to not enable those who don’t help themselves. It is dependence and entitlement that have been major contributing factors to our financial situation. 69% of the federal budget to social programs? obscene. I’m sure some of them are useful and there are those who need it (disabled, etc), but think about the ones who abuse it. Instead of having these programs help them when they’re between jobs or trying to get a better education, they use it as an excuse not to work. Why would they, when they can rely on the government to provide? Why work hard for a raise, when the government can mandate a huge wage increase?

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