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20 Shocking New Economic Records That Were Set In 2010

2010 was quite a year, wasn't it?  2010 will be remembered for a lot of things, but for those living in the United States, one of the main things that last year will be remembered for is economic decline.  The number of foreclosure filings set a new record, the number of home repossessions set a new record, the number of bankruptcies went up again, the number of Americans that became so discouraged that they simply quit looking for work reached a new all-time high and the number of Americans on food stamps kept setting a brand new record every single month.  Meanwhile, U.S. government debt reached record highs, state government debt reached record highs and local government debt reached record highs.  What a mess!  In fact, even many of the "good" economic records that were set during 2010 were indications of underlying economic weakness.  For example, the price of gold set an all-time record during 2010, but one of the primary reasons for the increase in the price of gold was that the U.S. dollar was rapidly losing value.  Most Americans had been hoping that 2010 would be the beginning of better times, but unfortunately economic conditions just kept getting worse.

So will things improve in 2011?  That would be nice, but at this point there are not a whole lot of reasons to be optimistic about the economy.  The truth is that we are trapped in a period of long-term economic decline and we are now paying the price for decades of horrible decisions.

Amazingly, many of our politicians and many in the mainstream media have declared that "the recession is over" and that the U.S. economy is steadily improving now.

Well, if anyone tries to tell you that the economy got better in 2010, just show them the statistics below.  That should shut them up for a while.

The following are 20 new economic records that were set during 2010....

#1 An all-time record of 2.87 million U.S. households received a foreclosure filing in 2010.

#2 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010.

#3 The price of gold moved above $1400 an ounce for the first time ever during 2010.

#4 According to the American Bankruptcy Institute, approximately 1.53 million consumer bankruptcy petitions were filed in 2010, which was up 9 percent from 1.41 million in 2009.  This was the highest number of personal bankruptcies we have seen since the U.S. Congress substantially tightened U.S. bankruptcy law several years ago.

#5 At one point during 2010, the average time needed to find a job in the United States had risen to an all-time record of 35.2 weeks.

#6 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs, which is believed to be a new record low.

#7 The number of Americans working part-time jobs "for economic reasons" was the highest it has been in at least five decades during 2010.

#8 The number of American workers that are so discouraged that they have given up searching for work reached an all-time high near the end of 2010.

#9 Government spending continues to set new all-time records.  In fact, at the moment the U.S. government is spending approximately 6.85 million dollars every single minute.

#10 The number of Americans on food stamps surpassed 43 million by the end of 2010.  This was a new all-time record, and government officials fully expect the number of Americans enrolled in the program to continue to increase throughout 2011.

#11 The number of Americans on Medicaid surpassed 50 million for the first time ever in 2010.

#12 The U.S. Census Bureau originally announced that 43.6 million Americans are now living in poverty and according to them that was the highest number of Americans living in poverty that they had ever recorded in 51 years of record-keeping.  But now the Census Bureau says that they miscalculated and that the real number of poor Americans is actually 47.8 million.

#13 According to the FDIC, 157 banks failed during 2010.  That was the highest number of bank failures that the United States has experienced in any single year during the past decade.

#14 The Federal Reserve brought in a record $80.9 billion in profits during 2010.  They returned $78.4 billion of that to the U.S. Treasury, but the real story is that thanks to the Federal Reserve's continual debasement of our currency, the U.S. dollar was worth less in 2010 than it ever had been before.

#15 It is projected that the major financial firms on Wall Street will pay out an all-time record of $144 billion in compensation for 2010.

#16 Americans now owe more than $881 billion on student loans, which is a new all-time record.

#17 In July, sales of new homes in the United States declined to the lowest level ever recorded.

#18 According to Zillow, U.S. housing prices have now declined a whopping 26 percent since their peak in June 2006.  Amazingly, this is even farther than house prices fell during the Great Depression.  From 1928 to 1933, U.S. housing prices only fell 25.9 percent.

#19 State and local government debt reached at an all-time record of 22 percent of U.S. GDP during 2010.

#20 The U.S. national debt has surpassed the 14 trillion dollar mark for the first time ever and it is being projected that it will soar well past 15 trillion during 2011.

There are some people that have a hard time really grasping what statistics actually mean.  For people like that, often pictures and charts are much more effective.  Well, that is one reason I like to include pictures and graphs in many of my articles, and below I have posted my favorite chart from this past year.  It shows the growth of the U.S. national debt from 1940 until today.  I honestly don't know how anyone can look at this chart and still be convinced that our nation is not headed for a complete financial meltdown....

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  • Gary2

    You better tax the rich! If the government keeps running deficits like the ones it has had the past few years, than we will get hyperinflation and there will be millions of billionaire Americans to tax! Bwahahahahahahahahaha!!

  • mondobeyondo

    That national debt chart is really scary. There isn’t one single year shown, when the debt actually decreased. It’s either stabilized, or increased.

    And lately, the debt has increased dramatically, almost exponentially. Credit card defaults, student loan defaults, and bankruptcies aren’t helping, either.

    Have we travelled too far down the road of no return? Well, that’s a less important question than “are we doing anything about this? Are we even trying to fix this?” No, we aren’t. No. Nada. Non. Nein. Nyet. So yup, it kind of looks like we’re doomed. Just a matter of time before the poopie impacts the rotary oscillator.

    Houston, we have liftoff! A liftoff at 2011 years and 0 seconds! And the debt has cleared the tower!

  • http://brunolem.wordpress.com Brunolem

    I published a similar chart in my last post.

    Unlike the Nasdaq chart and the housing prices chart, which showed some strange similarities with this one, the debt graph will not suddenly peak and start going down; it will blow up in the sky!

    The only question is when?

    Incredibly enough, the huge majority of the people, leaders and average guys, appear to be totally unaware of the coming storm.

    They buy shares and bonds, flat screens and cars, as if everything was not only normal, but even better than normal.

    The bulls are all out.

    Let them rejoice while they can…

    When their house of cards will fall, it will fall from high and they will fall with it…

    Click on my name to visit my blog.

  • $_$

    Guess who just gave away 100 billion of your money to the IMF?

  • Matt

    We are freaking doomed!! Costa Rica, New Zealand (if you can get in), Australia mate (if you can get in) are good refuges. Gary2, I hope you end up paying 80% of your income (assuming you actually work, which I doubt) in income tax.

  • http://www.1sttnrifles.com Freedom Rings

    We are truly in Peril……

  • Michael2

    What is even more staggering to me than the statistics of America’s decline are people who are the architects of what is happening thinking this is some thing to be proud of and is good work. These types see no problem with their handiwork or reaping the whirl winds of profit out the decline of millions of people. These things apply to the rest of the world as well because decline seems to me to be the common theme throughout the world. There are a few nations that are exceptions but they are precious few. There are lots of problems still raging in Africa. Europe is mostly in a pressure cooker circumstance because of increasing civil and political tensions. Asia, despite the so called “emerging markets” countries which is more exploitive consumerism, bubble-ology economics in my opinion, still has many countries with lots of civil and political strife roaring too.

    And what is absolutely insane to me in all of this is “our leaders” think doing the same things will produce a different result. Like allowing the Federal Reserve, the IMF, the World Bank, Bank of London, the World Trade Organizations and giant corporate monopolies and oligarchies to come up with solutions to the problems these organizations and private interests clearly created.

    If what is happening in the world are the best results “higher education” can produce, oh boy are we in trouble when real ignorance and savagery reign again.

  • Gary2

    More proof that my side is winning-we will tax the rich and we will spread the wealth.

    The Class War Launched by America’s Wealthiest Is Getting More Savage
    Countries with wide income inequality are unstable: they have large underclasses, high rates of crime and little opportunity.

    http://www.alternet.org/story/149531/the_class_war_launched_by_america%27s_wealthiest_is_getting_more_savage/comments/

  • michelle

    that chart is scary. At the exponential growth rate our debt has evolved to they ought to raise the debt ceiling by at least 3T this year but it looks like they might need as much as 5…

    I didn’t run the numbers, did anyone else plug them in?

    Where are we headed by 2012?

  • http://crisisprofit.blogspot.com/ Roth

    Hello,

    This information is impressing. Considering the downtrend of the US job market and the rise in university and student fiscal inabilities, to what extent is the traditional ‘get educated, get a job’ format a viable path to financial success? Are there any profitable alternatives for long-term financial success and money-borne personal happiness?

    Thank you.

    http://crisisprofit.blogspot.com/

  • DownWithLibs

    Scary about the people who have stopped looking for jobs. I am hearing in the news today about riots around the globe due to high food prices and tight food supplies. Add to that, all of the natural disasters (ie – Brazil, Australia, …) they are predicting even bigger food-related problems this year. Of course the rise of fuel costs won’t help the problem either. I think it is safe to say that we are in a heap of trouble!!!

  • flubadub

    Gary2,
    Your link takes us to the comments section of an article you are referring to where you, no doubt, imparted your well thought out advice to – wait for it – yes, tax the rich. After clicking on “return to article” the first thing to come up was a banner ad for a drug and alcohol rehab outfit, my first clue as to what the readership of a site targeted by such an organization might be comprised of. But back to the article. I was informed that the median family income rose from $24,000 in 1950 to $38,000 in 1965. It was then, approximately halfway through the article’s first paragraph, that I realized the author was thoroughly stuffed and overflowing from every bodily orifice with horseshit! In 1965 minimum wage was $1.25/hr. median home prices in May,1965 were $19,600 and median family income was $6,900. Don’t know if you ever saw the movie Rain Man but your boy at the “AlterNet” website probably loved it!

  • mondobeyondo

    The situation looks grim indeed.

    This should have been addressed back in 1975 or 1980, when the debt was still manageable. Now in 2011…it looks like the gravitational pull of the debt black hole has us in its grasp, and there is no escape.

    You can eliminate every government agency and program – including the entire military – and keep Social Security, Medicare and Medicaid. There would still be a budget deficit.

    But no politician worth his or her vote would dare consider eliminating those entitlements. That would be a political death sentence.

    Not to mention, even contemplating that would risk a second American Civil War. Social Security, etc. are Ponzi schemes, ahem, entitlements. In other words, “I paid into Social Security for 40 years and I’m entitled to my slice of the pie when I retire, dammit!”

    Rest easy, as long as you were born in say, 1952 or earlier. If you’re born any later, your reward will likely be a big fat goose egg. So, were all your Social Security contributions for naught? Nope. Your money’s helping a lot of retirees in Palm Beach, Orlando and Phoenix. They’re having fun on the golf course, playing bingo, shuffleboard, traveling the country in their RV’s, and swimming – all on your dime. At least their Social Security payments are still worth something. You mid to late baby boomers and Gen Xer’s and beyond? You will get absolutely nothing.

    What can I say? You should have been born in 1946. Sorry!! Don’t you feel happy now? (NO!! I’m not happy. I was born in 1964. I’m screwed.)

    I’m not complaining about the early boomers getting their financial rewards. They earned it, and they deserve it. But we younger generations also earned it, and we deserve it too. But we won’t get anything.

  • mondobeyondo

    The world’s reserve currency is the U.S. dollar. That gives us the privilege of printing money as we see fit. It also allows Congress to increase the national “credit card” limit as much as it wishes. Every time the balance approaches zero, Congress simply votes to increase the debt ceiling a bit higher.

    What if the dollar loses reserve currency status? What if our foreign debtors and lendors discover that the financial world no longer revolves around the U.S. dollar?

    Boy are we in trouble. Not if, but when. China, Iran, and several other countries want to pull away from the dollar, especially for international oil transactions.

    Oil is currently priced in dollars. What if the dollar lost it’s reserve currency status, and oil were priced in euros, or Chinese currency? America would be at their mercy. We won’t be able to just print more money in that event. iPhones and iPods will be the least of our worries.

    $15.00 for a gallon of gas? It’s possible.

  • mondobeyondo

    I meant to say “PRINCIPAL”, not balance in my previous post.

    If we had a balance of zero on our credit limit, Congress would be in hog heaven. You know, funding to see if fish swim better in sea water, distilled water or Dasani.

    Oops! Sorry ’bout the error!!!

  • Handyman in Arizona

    USA is finished!

  • http://www.shelter101.com Dave Shelter

    Records for 2011……

    #1 Largest Stock Market Drop.
    #2 The First the US failed to pay interest on treasuries.
    #3 The Largest rate of inflation ever.
    #4 Largest number of unemployed
    #5 First time federal marshal law declared in US since 1863.
    #6 Largest number of military deployed on US sail.
    #7 Largest Looting and Riots in history.
    #8 Most people killed or starved to death in US history.

  • Gary2

    I know I know I should also say tax the rich and spread the wealth but I won’t.

  • Bruce

    flubadub
    Best comment to Gary. LOL

    Yes the liberals can spread manure faster and thicker and almost make sense until you check their facts. Living in a dreamland.

  • http://www.planorperish.com/ Gutter Economist

    Here are 2 more records:

    (1) The largest corporations in the US accumulated $2.9 trillion in excess cash. It is believed that $1.8 trillion of this came from US government “stimulus spending”. These corporations are planning to invest this excess cash outside of the US.

    (2) US government incompetence.

  • http://WBDM Joe in JT

    When our leaders and government encourage corporations to do bad things to American citizens the country as a whole can not survive. Think about it. Mega banks making loans to people they know can never pay it back simply because they get a “bonus” for signing someone up. It’s sort of like planting a crop, say a tomato plant, knowing when it matures the tomato will poison the person eating it. The same with jobs. If all the good jobs go oversea’s, moniterally you ruin your own country. The only one who benefits is the CEO himself and his cronies. Yet the American people do nothing, worse they approved 5 billion in funding to help CEO’s move their companies abroad. Everyone should see the movie “Hoffa” starring Jack Nickolson and Danny Devito. What it will teach you is if you want a good paying job you have to fight for it, speak up! Demand it! This is your country, the CEO’s could care less about America and what it stands for, they only care about money in their pockets.

  • http://www.pathtoasia.com rhea

    Real conservatives are going to have to step up and cut everything… including defense, social security and medicare. We need 8-10% cuts immediately across the board! There is no more money – just interest. We have to stop NOW. Stop the madness. Stop the mindless spending.

    As for the benefits to the unemployed… how long do we keep paying unemployment? At some point there has to be a cutoff date. I know that most people are really trying to find work but I know over a dozen friends and family members who are “riding out” their benefits before taking a job.

    I hope I never have to use unemployment but I know that if I were out of work for 1-3 years then I would be doing something even if it meant flipping burgers. This nation is becoming more and more dependent on the government teat.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • joedoe

    america! the angle of death is coming for ya!

  • racer x

    good bet those 20 records will all be broken again in 2011

  • INNERTRADER

    It’s actually worse than the statistics indicate, as we know, the FEDs lie about everything and I promise you, it is much worse than what’s being admitted to! The oBama demos are out to destroy the USA and they are doing a great job! The Republicans will only slow them down a little, primarily due to the Tea Party!

  • Julian

    All Empires come to an end. It just depends how much of the rest of world we plan to take with us. The only solution as I see it is to change the role of the military, where the military builds and manages key infrastructure facilities for the good of the nation. Put new nuclear power stations on military bases, and have them protect and run them. Put our tax dollars to good work, so we can start be self sufficient, and compete with the rest of the world

  • Scott’s Sense

    So, the democrats increased the debt by a factor of five while Clinton was in power, then Bush Republicans raised the debt by a factor of two. I hate to say it, because I don’t like Bush, but he didn’t screw things up as bad as Clinton did! Now we have Democrats in power again…what if they raise the debt by a factor of five again from the time Obama took over (10 Trillion)? = 50 Trillion!!! Game Over…..

  • Ilyan

    Lenin said that if you want to destroy a Country/Government, first debauch its currency. That makes Presidents and Secretary to the Treasurys who allowed inflation Lenin’s agents. Everyone since befor 1970 accorging to the chart. They all misused Keynes. Keynes called for more taxes when things were going well. They did not, so Keynes’ way to avoid the internal contradiction in Capitalism Marx escribed is wrecked and greedy Capitalists are doing a better job of destroyong Capitalism than all the Lefty socialists communists annarchists trade unionists anr revolutionaries put together. I cannbot include Leninists in that as that debauching policy is what drains the lifeblood out of Capitalism and it turns out Lenins policies are enforced by Capitalists..

    THe only hope now is a progressive tax on Wealth sufficient to clear all the National debts in a year.

  • The Beast

    When the West Roman Empire fell, they too taxed their people to the bones, they too spent massive amount of gold in their armed forces and sent them abroad, they too faced a climate change, they too faced an enemy as illusive as shadow (ie the Barbarians).
    The similarities between then and now is eerie. But be calm. When the Roman Empire fell, many Romans actually rejoiced (in contrary to what we’ve been told) and saw the barbarians as their “savior”. And the livelihood of the people in the Empire actually got much better after the collapse, despite the absence of Central Power.

  • James K – “innocent bystander”.

    WoW !!!

    Everything I read is Doom and Gloom.
    Pessimism reigns supreme.

    You know there is a philosophy that says ;
    The predictions and prophecies of mankind will inevitably become reality. Everyone today is living and breathing the predictions and that is their and the worlds reality.

    The solution : More optimism, more positivity and less government. If we aren’t more positive then what is the purpose? We are born free and should remain that way for our whole life. The less control and interference by government, the better off everyone will be. A democracy means freedom. What is evident now in most western nations is an ever increasing socialist and communist feel to living. If we can’t be individuals and live our own lives…then we are merely their puppets. We work and pay taxes. Buy houses and pay taxes. Buy food and pay taxes. TAXES…TAXES…TAXES…..another definition for stealing. Government is there for law and order and for protection of assets and rights. When did we give them the right to “steal” ?

    Yes I know debt is ugly, so too is unemployment and bankruptcy as is socialism.
    But these are all the result of the unsound economic policies of western governments the world over. We have all been lied to and manipulated. We are but human and we share the same thought processes.
    We are individually but a small insignificant detail on the spectrum of the global system. But, collectively we are something more significant and powerful. Fight for your freedoms and rights, those that are slowly but surely withdrawn from you by government. Stand up and be counted. Spread the word…form groups and become a voice. These heinous acts of central banks and governments alike are immoral and fraudulent. All of them should be locked away. They have committed the biggest crime in the history of mankind. And the sentence…. after all fails….(and it will because of the prophecy=reality philosophy)is that those in power will survive. What of chaos in the streets, riots for food, anarchy ??? The governments are prepared..yes even with their fiat money….they have enough to go around and ensure that LAW and ORDER remains and prevails….and then some (at least for the short term).

    The rich know how to protect and save themselves. The middle class will be wiped out. The lower class will always be poor.
    Tread you own path. Just know that the government will not be there when you need them. Food stamps and umemployment benefits and medicare will not continue. The government is bankrupt.

    The overall solution is not to tax the rich more or create new taxes on wealth. That is pure ignorance. The whole system of economics is wrong. The model was flawed the time it was created. The governments and central bankers thought that pushing a little inflation through our economy was a win-win situation that could be managed. That is until GREED and POWER and the Love of Money got in the way. Creating something out of nothing is not moral. And the use of leverage …OMG….yes it works when asset values go up…but when they go down….the loss is even greater.

    Too many problems to try to fix at once. But..

    Start with the Fed Reserve. They gotta go.
    Let some banks fail also…the ones that took too much risk. Together with those that took interests in Banks knowing what they were doing.
    Get rid of any government that works off the premise that “deficits are good” and any that shifts private debt to public debt.
    Printing money has got to stop. No matter the consequence. When there is nothing offered or expended or suffered to obtain money then it is fraudulent. Ulimately it will fail. If left to that point then the pain will not be spared. Everyone will suffer.
    Outlaw speculation. The use of derivatives is killing natural supply and demand. Everything we see today in $$$$ is artifical. Nothing has a sound base any more. And that includes Precious metals. What is the real value of Gold / Silver/ Platinum ??? in $$$ or ???? and compared to what ???? When measured in USD….what are you using to determine the value of the USD..the value of the GDP of the USA as a measure ??? OR the NET DEBT/GDP……get my point!!!

    Maybe the Gold standard is a partial solution. But the government knows that that too can be manipulated.

    The world needs to adjust its focus. There will come a time when materialism will not even be part of our vocabulary. We will be in tune with nature and the heavenly bodies that rule the planet Earth.

    If the populace doesn’t act now then there won’t be 20 Shocking NEW Economic Trends for 2011…there will be 100 or more.

    The USA has a history of winning and losing wars.You can trace them all the way back to Independence.
    The debt fiasco of the last several decades will be a WAR that ultimately it will not win. The cancer has been growing and spreading for years. It has infiltrated and penetrated ever corner of the globe. This cancer cannot be exorcised. It is malignent. It is a death sentence. The battle has been mighty. Fought with every last reserve. Much blood has been spilled. Many rivers and streams filled with red. And brave have been the attempts to win, albeit soundless and without merit. History waits with bated breath to capture this time and these events.

    We can rejoice in the knowledge that it is the human spirit that will not die. For every hardship that we face we can see a small glimmer of HOPE. Always we know that in the end …there is a new beginning. We are but Human. We make mistakes. Let us hope and pray that we Learn this time.

  • Winter Warrior

    I opened my wallet and took a gander at the money inside. Each bill had printed on it, “In God We Trust.”

    When will this start to happen? When the bills are worthless and we cannot put any trust in them whatsoever?

    What is the “American Dream?” When we trust God and live the dream he has for us? Or is building an endless personal wealth of money and things the “Dream?”

    Personally, I believe the more I learn to trust in God for true happiness, the better off I will be. I also think this to be true for my fellow citizens and the well-being of the country—even its economic well-being. I am at a loss to explain how this will work, but my instincts tell me that this is true.

  • David Hibbs

    In reponse to Winter Warriors comment I say Amen, Amen. Our country was founded by people who were escaping religious persecution and supposedly were are still a nation that is a CHRISTIAN nation. Are we truly a CHRISTIAN nation? Do our actions reflect the actions of a nation that believes in Christ? I no longer believe that the persons who control the majority of the resources in our “great” country act in Christian ways. What if they did? What if the Ten Commandments were our ” Bill of Rights”? What if?

  • Louise in MO

    My husband and I receive Social Security benefits totalling $1700 per month. If you think that we are living in luxury, driving an RV, living in Palm Beach, etc. you need your head examined!

    Between the two of us we paid into S.S. for SEVENTY YEARS; so did our employers. S.S. funds were regularly used by Congress to fund other programs….it’s called fraud. There was no LOCK BOX. When people here and other blogs start demeaning people on S.S. I am highly annoyed.

    You want cuts….go to the welfare class that have been receiving free everuthing for GENERATIONS! You also need to quit giving free everything to illegal immigrants…I don’t care how cheap they are to hire. You want taxes…fine and/or tax the people who hire illegal immigrants! In the process you might save American lives on the southern border!

    Americans need to get off their butts and go to work. Work two jobs if necessary. Be prudent in your spending. The American people have become lazy and are constantly needing to be entertained with the newest gadgets. Most of which cost four to five hundred dollars.

    The only democrat that said something worthwhile was JFK who in his inaugoral address said “Ask not what your country can do for you, but what can you do for your country.”

    Neither my husband nor I have ever received food stamps, welfare, unemployment benefits etc. We worked for our money, at times at jobs we didn’t particularly enjoy. We had a work ethic that many Americans today never had.

    There is no legal job that is “beneath” you if you have the understanding that no one else, including the govt., should pay your way. Some, not all, that are jobless won’t do and I’ll bet it’s a higher percentage of the unemployed then you would admit.

  • bobbob

    WITH SO MUCH NEGATIVITY I WILL INVEST IN usa but remember CHINA RULES!!!!!!

  • john

    Og no worries, Sarah Palin will fix everything.

  • http://AlexJones Roger Yow

    Think if you can. What has this people and government done to the Native Americans?
    Everyday the jackboot of this Christian government is upon our throats and yet you cry how bad it is that, you should follow the fate of the people that had been brutally rape and murdered for the wealth of this land.
    Stop the lies and learn what is now happening to your U.S.A.immigrant citizenry,is no different than what was celebrated within your history books.
    Your people over bred and came here crying how suppressed you were. Your people put laws against our people and even in our own self defense, we could not defend ourselves, without the countries military raping and murdering our people. Does God have a way of passing the sins of the fathers upon the children? Well, is it the same fate?
    A simple video search “America is an Indian Reservation” the video is by Russell Means, tells all. His video is educational and lets you know that the laws of this land were founded upon our laws. But, we were excluded.
    Our lands were taken by claims of debt that was not owed. We were moved from our homes.
    The combined total debts of this country are greater than the entire calculated value of everything within the borders of our lands.
    The entire population can be forcefully moved when the claim of debt owed is due. The Chinese can come and claim all foreclosed homes and you can be hunted done and put into FEMA death camps. Just kidding. LOL!
    Just, a small portion of everyones debt obligation, is now over $440,000. Can every man, woman and child cough up their fare share of this debt? The answer is no. Remember the Indian reservations, or, for your family memembers the proper name would be “FEMA death camps”
    There is good news though. The housing crisis that had sunk the economy is not over. In the month of August of 2011, there are 2 more bubbles that will burst in the housing sector. Everyone will get to know their neighbors as everyone gets the chance to move into their brand new tent community, sponsored by FEMA Death Camps and the Obama administration’s new housing projects.
    There are many truths to learn. Native Americans were the first slaves. Blacks started Black slavery. The majority of black slaves were owned by blacks and the soon to be new slaves will live in FEMA camps run by the Chinese. You will be spayed and nuetuered just as 40% of Native American women were sterized by George Bush senoir.
    Such thoughts are good news to the people that are still held under your jack boot.

  • Anon

    Like it or not, I’m happy on a benefit. May not be a lot, but at least I’m not in debt. In my mid-twenties and it honestly pisses me off that people expect me to work harder than I should, even ‘get two jobs’ if that’s what it takes, in order to pay off a debt that was accrued before I was born.

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