The Beginning Of The End
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Depressed As A Nation? 80 Percent Of Americans Believe That We Are In A Recession Right Now

According to a brand new Gallup poll, 80 percent of Americans believe that we are in a recession right now.  Of course the government insists that the recession ended quite some time ago, but apparently the message is not sinking in.  Not only that, most Americans also do not believe that things are going to get better any time soon.  According to the Gallup poll, 61 percent of Americans believe that the economy will be the same as it is right now or will be even worse one year from now.  Two years ago, only 35 percent of Americans felt that way.  Talk about pessimism!  So are we depressed as a nation?  Have too many people been reading the Economic Collapse Blog?  How do we account for such strange numbers?

Certainly there are some areas of the country that are still doing quite well.  If you live in an area that is closely tied to the federal government (Washington D.C.), the big Wall Street banks (New York) or corporate America (Silicon Valley, etc.), then you can go out on the weekends and find packed restaurants and mall parking lots that are overflowing.

But most of the rest of the country is really hurting.

Tonight, there are millions upon millions of Americans that won't sleep well at all because they are trying to figure out how to get back on their feet.  It can be really tough to keep going when you have been searching for work for years and still nobody will hire you.  If you have a family, it is easy to feel like a failure when you have to look your spouse and your children in the eyes day after day knowing that they are depending on you.

If you have never been through it, then you should not mock those that are depressed because they cannot find work.  Losing a good job and not being able to find another one can be an absolutely soul-crushing experience.

So why do 80 percent of Americans believe that we are in a recession right now?

Well, it is because that is what it feels like for most people.

For example, a reader identified as Carol recently shared the following with us....

My unemployment ends the end of December, yes, I will be one of the 99′ers, one that did not sit at home and eat potato chips, drink soda and watch TV. I have no health insurance, I support myself and cannot afford it. I was diagnosed with rheumatoid arthritis last fall. Not to mention, degenerative disc disease, and osteoporosis. But I have continued to pursue work and regain employment, despite my health. I have no other choice but to fight and PRAY!

It amazes me at the stupidity of the general population, who still have their heads in the sand. The majority have no idea what is actually going on in our country on the political or economic side.

What would you do if you found out you were sick, you had no job, no health insurance and you were rapidly running out of money?

Please pray for those that are out of work.  You never know when it will be you that needs some assistance.

For those that still believe that the economy is doing "great", let's review some of the cold, hard facts....

*46.2 million Americans were living in poverty in 2010.

*The number of Americans living in poverty increased by 2.6 million last year.  That was the largest increase since the U.S. government began keeping statistics on this back in 1959.

*14 million Americans are officially unemployed.

*6 million Americans have been unemployed for at least half a year.

*8.8 million Americans are working part-time because they cannot find full-time jobs.

*Only 63.5 percent of all men in the United States had a job during the month of July.

*Zero jobs were created in the United States during the month of August.

*Median household income has fallen for three years in a row.

*49.9 million Americans do not have any health insurance at all.

*The percentage of Americans covered by employer-based health plans has fallen for 11 years in a row.

*More than 45 million Americans (a new all-time record) are on food stamps.

If you are still doing really well, be thankful for that.  Don't use the fact that you are on top of the hill as an opportunity to look down on others.

Unfortunately, as I talked about in a recent article, the U.S. economy continues to get even worse.

It certainly does not help that we continue to see millions of jobs shipped overseas.  Neither the Democrats nor the Republicans are proposing anything that will stop the bleeding.

A lot of very skilled Americans are being put out of work by all of this offshoring.  For example, a reader identified as GlennA recently shared the following with us....

Yes, lurking in the shadows, that’s been me. A professional man with a master’s degree in a technical who has not worked at a full-time job with benefits since mid 2009. Spent my last 2 years with the company offshoring to India all my team’s work. I hear through the grapevine that quality there has gone completely off a cliff, but profits are OK.

Have had only sporadic benefitless contract work ever since, and am now down to my last few bucks.

All of the horrible natural disasters that we have experienced this year are not helping things either.  As I have written about previously, in many ways this has been the worst year for natural disasters in modern U.S. history.

In a recent article for Newsday, Jennifer Wheary described the impact these horrible natural disasters have had on many areas of the country that were already facing tough economic times....

But after decades of disappearing jobs, declining wages and increasing expenses, this is no longer the case. As a result, people across New York, New Jersey, Pennsylvania, Massachusetts, Vermont, Maryland, the Carolinas, Texas and elsewhere lack the savings needed to weather these unexpected economic shocks. Well before the spate of recent bad weather, or the recent recession, millions of middle- and working-class families were already under water.

Right now, even the vast majority of American families that still do have jobs are barely scraping by.  At this point, "financial security" is just a far off dream for most Americans.

So what are our leaders doing about this?

Well, as I have written about previously, the Obama jobs plan is a complete joke.  It is really quite sad if that was his best shot.  His plan would spend a lot of money, but just like the last "stimulus plan", it would not create many jobs at all.

The Federal Reserve has decided that it better jump into action again.  The Federal Reserve has just announced that it is going to sell $400 billion of its short-term U.S. Treasuries and will use that money to buy $400 billion of long-term U.S. Treasuries.  The Fed is hoping that this will lower interest rates on mortgages and home loans and will help to spur the economy.

So will this fix our economic problems?  No, it will have even less of an impact than QE2 did.  But the Fed wants to at least appear as if it is trying to do something.

The Federal Reserve has also pledged an "unlimited" amount of dollars to help bail out big European banks in October, November and December.

It is quite frustrating that virtually nobody in the mainstream media seems upset that the Federal Reserve is going to be showering European banks with cheap loans.  Apparently they must all think that this is a wonderful idea, or perhaps they are just too preoccupied with talking about "The X Factor".

In any event, it does look like the global financial system may need some propping up very soon.  Yesterday, I shared 21 signs that the financial world is on the verge of a nervous breakdown.

Well, here are a couple more....

Right now, corporate insiders are selling 7 dollars of stock for every 1 dollar of stock that they are buying.

That is a very troubling sign.

Another troubling sign is that Moody's has just downgraded the credit ratings of Citigroup, Wells Fargo, and Bank of America.

The last time we saw so much financial chaos was back in 2008.

We all remember what happened back then.

At this point, things are still so bad that 80 percent of Americans believe that we are still in a recession.

So what are things going to look like if there is another major financial crash in the coming months?

Will we soon see millions more Americans going dumpster diving as they hunt for something to eat?

Will we see even more tent cities start popping up all over the nation?

Will we see even more elderly people freeze in their own homes because they can't afford to heat them?

Already, more than one out of every five children in the United States is living in poverty.

How much worse can things get?

Unfortunately, they can get a lot worse.

If you think that Americans are depressed now, just wait and see what happens after the next financial crisis.

This country is going to become unglued in a major way.

Buckle up and hold on tight because it is going to be a bumpy ride.

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  • http://www.prepareforeconomiccollapse.org/free-report James Bell

    Couple of things. Americans are not that stupid and naive to think things are still Good. Also, it can and will get a lot worse if these politicians do not wake up from their fantasy dream. We are all witnessing history in the making.

    Being prepared as best as we could and praying that the politicians will end up doing the right thing is all we can do at this point I’m afraid because much of the destruction is actually irreversible in my opinion.

    Cheers,

    James

    Free report shows how to prepare for the coming economic collapse

    http://www.prepareforeconomiccollapse.org/free-report

  • http://selfsip.org Kitty Antonik Wakfer

    Actually “dumpster diving” has at least a moderately long history since I recall doing some many years ago and know of others who did too. (Items were often just left next to the dumpster or at the trash pick-up point and one most often wouldn’t have to actually climb into any bin.)

    Dumpster diving wouldn’t even exist though if stores were not so fearful of various government regulations against selling at or even out of date food items, an increased concern in the past 20 years. They could minimize their financial losses by offering these items are much reduced prices and then actually give away what doesn’t sell (for instance 2 days after “expiration”, which is likely very “inflated”, resulting from some government regulation).

    It is the US government’s paternalism demonstrated partly in not recognizing release consents (even one’s validly witnessed) in later court actions that has resulted in many companies protecting themselves by not giving away out of date foods. This has extended to forbidding people to remove discarded items from a store’s dumpster, things the store obviously no longer wants.

    As I’ve written before, greatly reducing the numbers of government enforcers of the volumes of regulations is a major way to cease the government’s interference in the marketplace and therefore everyone’s life. Don’t simply “buckle up and hold on tight”, waiting to see what happens. Be part of the solution.!

    I first recommend by those who think government regulation enforcement “work” is abhorrent and/or long range counterproductive to a voluntary society, to attempt to persuade by way of reasoned logic those enforcers they actually know in some manner to get truly productive jobs or start their own businesses (and give them assistance too). For those who instead continue on as enforcers, the logical step is to withdraw all voluntary association with them – no sales, service or camaraderie – no anything! Remember, these enforcers are key to all those volumes of words, which will remain nothing but scribbles without those individuals who are willing to threaten and actually initiate physical force.

    I’ve pointed out many times on the Internet that shunning, with a long history of use as a method of social persuasion, has not been given its due in mainstream media. It is included by Gene Sharp in his 198 Methods of NonViolent Action – part of Ostracism of Persons under THE METHODS OF SOCIAL NONCOOPERATION: http://www.aeinstein.org/organizations103a.html
    Also, “Tax/Regulation Protests are Not Enough: Relationship of Self-Responsibility and Social Order”, a href=”http://selfsip.org/focus/protestsnotenough.html”>http://selfsip.org/focus/protestsnotenough.html
    A more foundational explanation is at: http://selfsip.org/solutions/Social_Preferencing.html

    Once again, don’t simply “buckle up and hold on tight”, waiting to see what happens. Don’t be tolerant of your neighbors, friends, family, associates and strangers who are enforcers. Be part of the solution! Be discriminating, in the finest sense of the word. Associate only with those who produce value and withdraw association from those who prevent value from being exchanged and even coming into existence.

  • Mark

    This is depression light. The fake rise in the stock markets have been from Uncle Ben’s printed party. The party seems to be over and the hangover is coming our way. You just can’t spend your way out of a debt problem.

  • Golden Child

    It is ironic that people who are the most ignorant on the subject of the economy are the people who are the most well off. Government desk jockeys who surf internet porn all day have a greater probability of dropping dead than being fired. These types of people will tell homeless people to “go get a job” even though you can’t even fill out a job application without a valid address. America is a nation of non-workers. We have no manufacturing base anymore, so this statement is more than true. The only people who really work in this country are illegal immigrants who do honest jobs formerly held by American workers. Most people who get paid living wages don’t even really work. Yes, doctors save lives and such but, is there a reason why a paper pusher who spends two hours “working” and six hours pretending work should get paid double the salary of a private sector worker? A hige percentage of people with living wage jobs do the same amount of work as an unemployed person. I know. I live in the DC Area in Maryland in one of the richest counties in America that is populated heavily by federal workers. Nobody works in my neighborhood. People just have money. When we first moved here in the 90′s, it wasn’t like this. Fathers woke up early in the morning and worked a 9 to 5. It was all American. Now, it seems like everyone on the block “works” for the government or has a contract with the government and just relaxes and “works” from home all day. These government leaches have a rude awakening in the future because these high salaries for dead weight federal workers are completely unsustainable in a nation heavily shackled by debt.

  • David

    Thanks Michael for sharing this. This article, as are all of your others is spot on. I left the corporate world in 2003 after 16 years with a Fortune 500 company. I took a “voluntary” severance because if I didn’t I felt strongly that it would soon be “involuntary”. Since then thousands of layoffs have happened at the company I left.

    My wife and I then pursued a very successful business venture that was abruptly ended due to a change in zoning at the location of our business. This happened in March of 2008 and we have since lost over $500,000.00 in revenues and legal fees. We fought the zoning
    issue with everything we had but in the end, we
    like so many other small businesses in America
    “lost.”

    We have now depleted all of our funds and are facing foreclosure on our home. We have lost
    our credit so there is no chance to move our
    business to a “suitable” location, as we can’t
    qualify for any loans. Prior to us losing our
    business we had all necessary licenses and
    permits required but when the local government
    changed our zoning we were still forced out of
    business. We’ve lost our health insurance, and
    can barely put food on the table or keep the
    lights on. We read your commentaries on a daily basis and are so glad that you allow us to see the big picture of what is going on in this country. We all hate that the country is in such sad shape, but government regulations and interventions have really made it hard to enjoy a decent quality of life that used to be readily available to anyone willing to work hard enough
    to get it. We thank you so much for the work you do and pray that God will continue to bless you in making Americans aware of the times we are living in. God is our only hope as there is no real security in the world we live in except through him. Bless you my brother!!

    • Michael

      David:

      Sadly, your situation is a perfect example of what is wrong in America today. You had a successful business that was ruined by interference from the government. If the government would just get off our backs, most of us would do just fine.

      It makes me so sad to read what has happened to you and to so many others that leave comments on this site.

      I wrote about this exact thing the other day on the American Dream Blog. If you haven’t seen the article yet, you should check it out….

      http://endoftheamericandream.com/archives/a-message-for-the-government-get-off-our-backs

    • GlennA

      Hi David, sorry to hear about the difficulties you’re having. I’ve been struggling myself since getting laid off a couple years ago. And at my age with the severe diabetes and no health insurance it’s been no picnic.

      Sometimes I actually picture a shepherd in my mind. I picture a shepherd leading his sheep way out into the wilderness then leading them right off a cliff.

      And it helps me to realize how RIDICULOUS that image is. No Good Shepherd does this!

      We have not been led way out here, out to the nether regions and the margins only to be dropped to our deaths.

      We are sojourners and travels all. And some bumbling and stumbling through with no Shepherd. And because going their own way may have brought them material riches, they credit only themselves.

      But the Shepherd makes it a journey for his faithful for only one reason – so that this journey will better mold us into the image of his Son. We forget this sometimes, I know I do, but in truth it is really all that matters. And so these times of pain are indeed more precious than we realize. Hang in there, keep fighting the fight and God Bless.

  • Ian

    We still have a long way to fall. Travel to any third world nation to experience true economic hardship and poverty. Not saying the suffering isnt real here in America, but we will adjust with time. Hopefully we have a spiritual awakening in our country so we can revive our true essence. We are divine beings who have clung so tightly to a material existence that we cant fathom anything else. This is a part of our evolution.
    So long as Americans continue to base there happiness on a good career, stock options, a large home for their 5 children, expensive schooling, football games, gas guzzling vehicles and 6 dollar lattes, then we will experience a very hard crash. Those of us who have retreated to meditation, spirituality and a relationship with God, will cross the threshold unscathed and ready to step into the new era of enlightenment.
    This is the time of evolutionary consciousness. Let go of your attachments to this material world, as it is false and a trap.
    We were not born to have a good career, chase endless schooling, drive expensive cars and worry worry worry until we die and cannot take any of it with us.
    Call me a hippy or a religious nutjob, but you have your blinders on. The materialistic way of life is coming to a close. It is time to embrace the spirit.

    God is love.

    • callmecordelia1

      I agree, Ian. I heard a quote the other day “I ain’t never seen a hearse with a luggage rack.” I witnessed someone close to me on their death bed recently. This person was very materialistic and somewhat shallow– really into looks and fancy clothes, lots of plastic surgery, etc. As she lay there at death’s door, I thought, “What was it all for? NONE of that matters.” I think having our material possessions stripped from us may be a blessing. Maybe it will force us into remembering why we’re here and what matters. I also believe in a God full of tender mercies, and that we can find happiness and joy in any circumstance. However it comes down, it will be painful. But I think in the end we will find joy. And people can call me a hippie or religious nutjob if they want, too. :D

      • Highspeed

        Actually you sound quite normal to me. I like the way you think.

  • 99er

    The technical definition of a recession – 2 or more quarters of negative growth – is just as meaningless as the cost of living and unemployment statistics we get from the government. If you’re out of work and you’ve lost or are about to lose your home along with tens of millions of other Americans you don’t pay much attention to the technicalities. There may be some “pockets of prosperity” for the lucky Tads, Biffs, Buffys and Zazz ( yeah he hit a nerve here too )on 5th Avenue. Some areas of Texas and North Dakota are booming as well but there is no denying that the worldwide economy is in bad shape. . . no matter how many iPods Apple sells this year.

  • http://theeconomiccollapseblog Leonard

    We have been caught up with too much rosy and positive thinking for many years! Who peddled this? The corporations? The banksters? And now we’re depressed? Shouldn’t we have known better instead of living a lie?
    It looks like there is a price to pay for everything, even lies!

  • Nostradamus

    During the Era of Stupidity, 2002-2008, I watched people bought houses like donuts, re-fi like listening to hi-fi music, borrowed from Japan & China to spend on wars, good time, endless goodies and financial opium. It was as if the massive amount of manufactured imports from Asia & Europe were not enough. National debt went up at a rate of $1 trillion per year. I said:

    America will pay for this. It will pay big time and people will deeply regret it.

    The first part happened. The second part is just happening. The third part is felt only by a tiny minority. Tiny minority? Yes. Because the greatest majority is not regretting it. See, they are still blaming everybody and everything else for the mess. Except blaming themselves. They have learned well from the politicians – never take responsibility. When you deny responsibility and spend the days blaming others, then there is no regret. And when there is no regret, there won’t be a real honest solution.

    There won’t be a solution to bring back the good old times. It is impossible. The solution will take the form of stabilizing a half-bankrupt country, half wiped-out middle class, a large poor class solidly in 3rd world, and a very reduced rich class as they have all expatriated.

    But what will stabilize such a downsized America. A brand new culture my friends. Historians call such an upheaval the Fourth Turning.

  • patriot alice

    Everyone has been bailout of their financial disaster except students. They were dupped by the overstated benefits of college and grad school by those teaching institutions. Student loans were given to anybody breathing with the full knowledge that those kids could never repay the loans and that those loans would NOT be discharged in bankruptcy court for any reason except death. It’s time to consolidate our nation’s students and create a voting block to force our legislators to treat student loans as any other loan..

  • Paul

    First, I’d get health insurance. I really don’t understand why the majority of Americans do not approve of Obama to get health insurance to everyone.

    In Hong Kong everyone is entitled to free medical care. In England everyone is covered by the National health Service. In Germany everyone (except those who are too old, that is over 55) have the right to pay into the legally required health insurance. However, if you are over 55 and worked most of your life abroad for your German company, then you lose that right to public health insurance and HAVE TO take out private insurance which could you set back 500 Euro per month. At the same time, with 40 you are considered too old to find regular employment.

    All German companies are now screaming for qualified workers. And if they do not get the right from the government to hire foreigners, they might even consider employing women or over 40 year olds…

    Since the mid-thirties of last century Germany always depended on foreigners to keep the economy rolling. First there was the slave labor in Nazi germany, then the “Guest workers” from Greece, Italy, Spain, Portugal, Turkey during the “economic miracle” funded by the Marshall Plan. The the East Germans and the Eastern Europeans. Now maybe Indians – but they must speak German and they are not allowed to bring their family anymore.

    You don’t speak German – you get no visa. Even if you are married to a German.

    So, Germans who have foreign spouses emigrate, even to China.

    • jaihawk

      Paul, because we’re not talking about Canada’s version of socialized medicine. Osamacare is a whole different animal. You would be forced to pony up or face criminal charges, unless of course you can prove you’re a faithful muslim. Then the rules don’t apply.

      • Paul

        Well, and if you can’t pay those criminal charges you get arrested and have free healthcare and free accomodation, free food and a valid address.

        Can’t find a job anyway, so why not go to jail for some time and have it warm and cosy?

        It’s just a way of life, like going abroad and joining the shooting gallery as a target.

  • SMASH THE CONTROL MACHINE

    Ron Paul is the ONLY presidential candidate that understands what is happening. He’s “bypassed” the finger pointing tactics of the dis-information guys and gone right to the heart of the matter. Now, all of you explain to me why none of the political geniuses of this current political context, including the President, don’t want to close over 900 overseas military bases? Someone explain to me why none of these pundits think that leaving the damned Social Security Fund alone and treating it like a true retirement fiduciary fund is the ETHICAL and moral thing to do? Why not cut congressional perks? Why not slash through entitlement programs for the able-bodied? What is wrong about closing down Federal Agencies that do absolutely nothing but shuffle paper? Why do we need a “Department of Energy?” Why do we need a “Department of Education?” Why (as it has come out in the press) are we both funding and fighting a “War on Drugs? What does the ATF do that the FBI cannot do? What does the DEA do that the Secret Service cannot do?
    Hey! It’s OUR money. The stuff the Federal Reserve is printing by the billions isn’t our money. That money is “make-believe, fairy tale” money printed up just for the Banksters who then hoard it in their off-shore accounts driving the world economy into the sewers. Everyone who is in “power” now is thinking with their monkey brain and not their human brain. They’re just trying to covet and hoard as many “apricots” as they can. None of them understand that they won’t be able to eat them all or derive any “nutrition” from them before everything rots and the human condition goes to hell in a hand basket.
    The rest of us have to listen to our fellows parrot the dis-information coming down from the ruling elite and their obedient minions while keeping a straight face. It’s becoming revolting. Dr. Paul is the only “Star Wars-Obi-Wan-Kenobi” hope this country has of getting back on the right path. That path is the path of equity and stewardship; it’s the path of responsibility and community service. The rest of those who can’t recognize the truth when they see it should examine their bodies for any evidence of parasites.

  • r.bitting

    This will be the best advice you folks will probably never take. Turn to God with all your heart and forsake your ways that are not good. Trust in the sacrifice that God provided through Jesus Christ’s death on the cross and God will recieve you as Sons and Daughters. Surely you must realize that there is VERY LITTLE time left for you to make that choice and then mercy will be cut off for you. C.mon people, just logically look at all thats happening around you in the world. Put all the pieces together and see that theres more at work here than just a bad economy or some natural disasters. Theres just too much happening in our world at once too simply explain it away naturally. This is the hand of God at work, setting in motion the things he said would happen in his word and IT WILL happen exactly as he said it would. The Bible states that MOST will reject Christ as savior, and that the cross would seem to them “FOOLISHNESS” to those who would be damned. That they would not recieve the love of the truth that they might be saved. You are about to run out of time. At least get a New Testament and read it for yourself. YOU CAN’T AFFORD TO BE WRONG ON THIS! If you’re thinking that i’m just using scare tactics to get you to trust in Jesus Christ, you are absolutely right because you have every reason to be very afraid of what’s about to happen to you and your loved ones. Don’t you at least owe it to them to examine the claims of Jesus Christ to see if they are true? Does’nt it make sense that if God inspired the Bible, that he would reveal himself to you through it and point you to the way of salvation? Please consider these things and I will pray that God will grant you repentance and saving faith in Jesus Christ. Times short…

  • REED RICHARDS

    Speaking of unglued, has anyone checked out the surge in crime in the city of New Orleans lately? Seems like Mad Max beyond Obamadome has just shot its first act…………

    • Michael

      If you have some links to some news stories on that I would be very interested.

      Michael

  • Hope and Change

    Man, you are cranking out the posts! I am one of the 80%. Thanks for the good reading. I like to read the posts to check the barometer of the country.

    • Michael

      I try to get a post up 5 or 6 times a week.

      It takes a lot of work and research to do that though.

      Michael

  • http://www.placeofrefuge2012.com Sheila

    Its like what Tommy Chong said
    “things are tough all over brother”

    But I don’t believe that we are in a recession… we are in a full blown depression.

    TPTB are very resourceful with words, calling a depression a recession.

    http://WWW.PLACEOFREFGUE2012.COM

    • UncleJoe

      …we are in a full blown depression.

      That is a fact!

      The only reason it doesn’t appear like the 30′s is because of all the programs which, by the way, have helped to bankrupt this nation. In the first Great Depression there was no unemployment insurance, no welfare and no food stamps. Remove these “programs” to get a true picture of our situation.

  • knightowl77

    Good article Michael.
    As I write this the DOW is down 300pts who knows where it goes from here? I am very surprised that it has stayed this high for so long. Who or what is propping it up???

    I retired in 2006, but could not afford to pay all my bills, so I began looking for a new job in a new state. It took awhile but I finally found full-time employment, though the pay is less than a third of my former salary. It is enough to cover the bills, start getting out of debt and buying a little extra food each month in case what we think might happen actually happens.

    I am blessed in that the area we moved to, Western Colorado, is a beautiful place with neighbors who understand what is going on in the world. They have been a great help to us teaching us vital skills about farming and food preservation. I wish that I had seen this coming years ago, so that we could’ve been more prepared, but we have made some great strides recently. We still have far to go to get fully prepared and longer yet to get out of debt, but we are on the right path.

    May God Bless All.

    • Michael

      Knightowl77:

      Very good comment, and it is good to hear that you have a good community of people over there in Colorado.

      I always enjoy reading your comments – I think that you have accumulated a lot of wisdom over the years.

      Michael

  • A.S.

    Can someone please explain to me, how the Fed selling short-term US Treasuries and buying long-term treasuries, actually lowers interest rates? BTW, I thought Bernanke already promised to keep them at near-zero until 2014? So, even if that works, will that make the interest rate negative???

  • Otown Right Guy

    Certainly there are some areas of the country that are still doing quite well. If you live in an area that is closely tied to the federal government (Washington D.C.), the big Wall Street banks (New York) or corporate America (Silicon Valley, etc.), then you can go out on the weekends and find packed restaurants and mall parking lots that are overflowing.

    Michael, glad to see you included that. You must have read the comments from your previous posts. There are people in these places that can not conceive of the depression that is going on in the rest of the country.

    • Michael

      Otown Right Guy:

      It is very true – it is almost as if there are “two Americas” right now.

      Michael

      • Highspeed

        Two Americas, ain’t thyat the truth. Where I live, a small town in NC, you can tell how bad the economy is by the number of people you see walking to the grocery store.

        Earlier tonight, my wife and I were in Charlote, and we drove down hwy. 74, Wilkerson Blvd. and were astounded by the number of poor people out walking, and none were out for a leisurely stroll.

  • Suzy Shultz

    My husband was unemployed for 9 months back in 2009. He searched vigorously for a job and finally found one paying about half of what he made. He worked that job for a year and was able to find a better job. We at least had my income, but it still isn’t enough. I could go around my upper middle class neighborhood in suburban Chicago and tell you how each house has been affected. Many unemployed, businesses closing, and foreclosures. Things has vastly changed over the past couple of years. You just can’t get discouraged and give up! Support your neighbors in any way you can. We have all been a great support for each other! The country is in a bad state and I believe we haven’t seen the worst of it. Don’t rely on the government to fix things and make your life better…
    Thanks so much for this BLOG I check in often, but have never left a comment.

    • Michael

      Suzy:

      Well I am glad that you decided to leave a comment. I really enjoy hearing from the readers.

      And you are absolutely right – we need to be there to support one another. Friends and family will be key in the coming times.

      Michael

  • doomster

    Yes, I’d say there has been a recession for at least the past four years; the availability of jobs seemed to get significantly worse then and hasn’t improved except briefly. Look at how the Dow Jones is tumbling today, down 337 last I checked – and gold has lost almost $66 in value, oddly enough. Asian stocks and the euro went down a lot yesterday too: http://aeinetwork.com/news353.html

  • http://georgesblogforum.wordpress.com/ George Forfa

    With the developments in current events, I just have to write a sequel to “War Of The Money Worlds”. I’ll get right on that. Meanwhile, here’s the original.

    http://georgesblogforum.wordpress.com/2011/06/18/war-of-the-money-worlds/

  • Cali-Prepper

    A friend who is a financial advisor confirmed that the country IS in recession. Others may say Depression, depending on their circumstances.

  • http://www,Back2theLand.com Old Timer

    Now that the White House proclaimms the RECESSION is over the Social Seccurity-Veterans can get a cost of living adjustment. Then again there is no inflation.

    Keep preping! Next election year the riots will start.That suggests in the 10 major cities of disinfranchised minorities who are now the majority will interrupt transportation and commerce in general. A giant Flash Mob-yes; they, the Great Unwashed ( White House view) are getting organized.Are you organized yet?

    Old Timer- http://www.Back2theLand.com

  • jerry O

    Yes the economy is going in
    a downward spiral.

    All of the economic chaos that surrounds us can be downright scary!

    The great news is that I just discovered something that will quickly ease any fear and uncertainty. In fact, if your anything like me, you’re about to get very excited.

    What if there was a way for you to know the investing strategies of the “Ruling Class” that have long been kept secret from the MIddle Class?

    Want to know how they do it? And how you can too?

    I just watched a short video that opened my eyes to new possibilities, and you have got to see it!

    http://www.TakeControlOfYourFutureNow.com

  • http://moneycrisisgameplan.com Money Crisis Game Plan

    “8.8 million Americans are working part-time because they cannot find full-time jobs.”

    And these people, and those that have given up looking after a year, aren’t included in the government unemployment rate, so in reality it’s much higher.

    The national recession problems are much more depressing if you have lots of debt, and decreasing cashflow due to rising food and goods prices.

    Take steps to increase your cashflow now, so that you can prepare for the upcoming economic collapse.

    http://moneycrisisgameplan.com/increase-cashflow/

  • Gary2

    Class Warefare-Just Wait, We are just starting

    From article on Elizabeth Warren for Senate. I am guessing even low info libratardians (let him die) will get this:

    “You built a factory out there? Good for you. But I want to be clear: you moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.

    “Now look, you built a factory and it turned into something terrific, or a great idea? God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.”

    Why is it class warfare to tax the rich but not class warfare when the poor bail them out aka wall street and cuts in programs that benefit the poor are cut to give the rich tax cuts???

    Yes-make taxing the greedy to help the needy the issue for 2012. The right will go down in flames (hopefully forever) as over 80% of Americans agree—TAX THE RICH

    To you fox low info people-repeat after me-THERE IS NO SUCH THING AS A SELF MADE MAN OR WOMAN.

    Get over yourself you are successful on the backs of others. Time to pay your fair share in ALL taxes. No more cap on ssi, capital gains taxes as income with ssi applied etc etc. Regulate the hell out of business to prevent wall-street/BP/Massey from killing people.

    • knightowl77

      Gary…she’s wrong…”you moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.”

      WE ALL paid the taxes, not just “the rest of us”. So that business owner has already PAID his share. I have paid (way too much)taxes for many many years and not just for police or roads.

      We,(well most of us-except Gary) pay state and federal income taxes, property taxes,phone taxes, gasoline tax, sales tax, cable tv tax, electric utility tax, veh registration tax, social security tax, medicare tax, unemployment tax…among many many others

      So she can take the belief that others have paid the freight and “allowed” this business owner to prosper on the backs of others which is absolute nonsense.

    • you must be an idiot democrat

      Hey schmuck, how did the poor bail anyone out – they dont pay taxes?

      It’s kinda funny that you call “us” libratardians and then repeat the utterly idiotic statements “the rest of us paid for”. Are you trying to insinuate that the rich person didn’t? That they dont have a right to utilize public infrastructure like the rest of us?

    • Mark

      Gary, you said the same thing at An American Dream blog. You should at least change what you write for all of us.

      • Gary2

        I know, what I post is so insightful and good that I am spreading the wealth. I also post from time to time on Clark Howard.com

        :)

  • http://whybuysilvernow.com Why Buy Silver

    “All of the horrible natural disasters that we have experienced this year are not helping things either.”

    Actually, with all of the insurance claims, and construction / repair work going on in these areas, natural disasters puts more people to work, which can actually stimulate the local and state economy.

  • Richard

    “Please pray for those that are out of work.” Huh? Pray to who? The same God who put them out of work in the first place?

    • r.bitting

      So you are saying that the current situation is God’s fault. Even your theology is liberal.

    • jaihawk

      Why do people blame God for what people do? Richard, you want God to limit free will for everyone but you right?

  • HerrLT

    We’ve got plenty of time. For good or ill TPTB have a great deal of rabbits in their collective hat that can keep the waterlogged ship level for the foreseeable future. USE THIS TIME WISELY! Enjoy the beautiful fall weather. See a film. Take your wife out to dinner. Once in awhile a splurge may help your mind return to a sense of normalcy. Reading blogs like this the sentiment can be EVERYONE is unemployed and broke, but the majority of people are still working. God bless everyone who is a light in the darkness. Thank you Michael.

  • JC Vaughan

    Terrible and unfortunate. But there is one very good thing: we are not ruled by a fundamentalist government that arrests, rapes, tortures and kills our children on basically made-up charges. And that may be actively planning to start WWIII (if they can get nuclear weapons) so the “Mahdi” can return to Earth. At least we are not Iran.

  • hawk

    all i can advice is American companies screwed themselves….so its not china or india’s fault…

    • duh

      Who said it was their fault? We can blame the politicians on both sides and then ourselves for voting the morons into office repeatedly.

      -Re-elect NOBODY.

  • http://www.learcapital.com/exactprice Hal (GT)

    I was at a church the other day when a 72 year old woman came in to get food for herself and two others living with her (husband and disabled son). She had never been to the church before but apparently had called to ask for help and lived over forty blocks away.

    Yeah. I think we’re still in for a world of hurt yet.

  • http://georgesblogforum.wordpress.com/ George Forfa
  • DeathSpiral

    Its my concern that we are now beginning to witness the tip of hyperinflation which is rapid rise in food prices. These rapid rises are simply large waves slamming the coast before the real hurricane roars onto shore.

    Just like any high to hyperinflation scenario the cost of essential items to survive spikes upwards while non-essential items remain stagnant or decrease in price.

    This is escalating well beyond a recession. We need Glass-Stegall to be reinstated.

  • mondobeyondo

    If I didn’t know any better, I would say it’s a deliberate attempt by inept leaders (President and Congress) and big bankers to put this country’s middle class in the poor house, while they reap the profits and votes. The government constantly makes it harder for American businesses to succeed with endless regulations. And everything seems to be stacked against the “little guy” who struggles just to eat on a daily basis. It is an out and out conspiracy to make the American people totally dependent on government to survive.

    But of course, I would be classified as a lunatic, a right-wing crackpot or maybe a conspiracy theorist or something, because that’s not the way America really is right now, is it?

  • Joe

    Thomas Jefferson: “If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

    • Rev. Reggie Jackson

      yes Joe and now we have seen what Thomas Jefferson was saying, as the Interational Bankers/Illuminati have stolen our Presidents, and our Congress, and even our Supreme Court. And they have off shored our jobs overseas. And outsourced our jobs overseas!! But the Great God of Heaven will have them all spitting out fire and brimstone very soon!!

  • Jake

    I got an email today from a guy I haven’t talked to in a while. He told me he’s been layed off since march and his wife had a heart attack and by-pass surgery over the summer. They were a solid middle class family. I know way too many people in this kind of shape. Even in the Great Depression 75% of people had jobs, but for the 25% who didn’t life sucked. Be prepared to share with the 25%ers. I share eggs each week and if my state wasn’t so raw milk unfriendly I’d share milk from our cow.

    “One who is gracious to a poor man lends to the Lord, and He will repay him for his good deed.”

    • Michael

      Good thought there Jake.

      Michael

  • jeff198524

    At one point the US was blaming Japan and China for the US and European financial collapse because Japanese and Chinese save and invest instead of spend frivolously.

    The West is still telling Asia how great it is to be a consumer economy and that exports are an archaic form of economic activity.

  • JD

    I just got done watching NBC nightly news. They are finally adknowledging that there is an entire generation that is being left behind. 55% of people aged 16-29 are employed. There is a growing number of people in this age group up to 34 yrs that are living with their parents. (myself included). Im almost 31 years old and im living in my Dads guest house. My generation is a highly educated, highly motavated (at least I am) but we are increasingly being left behind. We are no longer having children, getting married and buying homes. We are a lost generation. The baby boomers can no longer retire, so they are keeping the jobs that would normally be filled by a younger worker. We are being edged out by the illegal alien for the basic labor jobs and compete with them for the dwindling welfare resources to feed our children. Time is running out the end draws near. I was watching CNBC this morning, and how can those idiots keep saying we are not on the verge of a “double-dip resession”. Its dipped already, you fools. You cant have a recovery when theres no jobs. I dont know if they think that if the stock market is up then we must be in a recovery. Today the Dow is down 391 points. Some dumbasses were saying “This is not a repeat of ’08.” Well it sure looks like it to me. What do you think Michael? Are we in a double dip or a Jobless Recovery? Both make absoulety no sense to me.

    • Michael

      I think that what we are seeing is very similar to 2008.

      By the way, if anyone can find that NBC News segment on YouTube and can post a link to it I would be very thankful. :)

      Michael

  • SMASH THE CONTROL MACHINE

    WHO KNOCKED DOWN THE TOWERS?????????http://www.youtube.com/watch?v=ggzSzl2oDHI

  • SMASH THE CONTROL MACHINE
  • Mad Max

    Our depression is about to lead to complete failure. Doing nothing in the face of the clear and present danger we face, is insane. We have a choice. Our government and our problems won’t fix themselves. We will have to do it!

    FIGHT THE CAUSE – NOT THE SYMPTOM
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

  • 007

    It is really common knowledge our economy is in deep trouble. Kind of like everyone on the Titanic just beginning to think there might be a problem with the ship. However, they would not dwell on the idea because it was just to horrible to contemplate. Well, we are on a sinking ship and there is no place to go but into the ice cold ocean.

    Hope everyone can find a lifeboat somehow.

  • http://elevationgroupvideo.com The Elevation Group

    ‘The Federal Reserve has also pledged an “unlimited” amount of dollars to help bail out big European banks in October, November and December.’

    This seems to be the real plan. They planted the seed that they will bail out the E.U. banks, and then as the E.U. collapses, they will move trillions of Dollars to the elite bankers.

    We saw this happen in the last few years as the Fed moved 16 Trillion Dollars to the top banks.

    Get financial education to learn how to protect your ‘Personal Economy’, to reduce the effects of the national economy.

    http://elevationgroupvideo.com/about-the-elevation-group/

  • William

    The use of the word “recession” is problematic. When the US enters, or leaves, a “recession” is not computed by the federal government, but, rather, by a small group of private economists. And, a recession is not marked by two successive quarters of declining GDP, although that is used a lot to define a recession. I think a better way to describe the economy is in how people feel about their lot in life, and their chances of improving their life. Clearly, for many in America today, they do not feel good. That is the problem, not the narrow definition of “recession”.

  • Mercy

    Times are going to continue to get harder and harder.

  • Fed Up

    Yikes! New study: 81% of all new jobs were given to immigrants in Texas–half to illegals, half to legals.
    http://www.dailymail.co.uk/news/article-2040839/Most-new-jobs-Texas-taken-immigrants-says-new-study.html?ito=feeds-newsxml

  • http://globaleconomicwarning.blogspot. elyferose

    Government is only thinking of
    what will get them more money
    and get them re elected.

  • Zero D

    I blame the toxic Depression that we are in, squarely on the American women, who are nothing but dumb tools in the hands of the Illuminati banksters. As such, American women are very dangerous and more dangerous than Standing Armies. In time, they will quietly hollow out the economy, and what will remain is only a false hollow shell. When the economy collapses there is no defense for a nation, militarily or otherwise. A nations capacity to conduct foreign policy is greatly diminshed and/or weakened.
    Simply put, as long as the American women continue to take away the limited supply of good paying jobs, the economy will continue to bleed to the point of total collapse!

  • http://sgamingx.org Russ

    They no longer care about the
    people they represent.

    • REED RICHARDS

      THE “MASSES” ARE GETTING WHAT THEY ASK FOR:

      Why should politicians care? “The people” vote for these sociopaths and psycopaths no matter what every election. Politicians reguarly threaten people with death, starvation, financial ruin and political disenfranchisment and what do you people do? (Keep pulling the lever) cha-ching! Republican cha-ching! Democrat

  • shirley

    Government is only thinking of
    what will get them more money
    and get them re elected.

    They no longer care about the
    people they represent.

    Times are going to continue to
    get harder and harder.

    What to do about this?

    I am so glad I learned the
    answer in a web site I
    found put together by a
    millionaire.

    How to Profit like the Ultra-Rich in Times of Economic Chaos
    *** globaleconomicwarning.blogspot.com ***

    I know this video can help you also.

  • JD

    Wow, Zero D you must have got dumped lately. I love American Women. They’re trying the best they can to take care of their kids with what little they got, and theyre working their asses off to try above water. Either youre not from the US, or youre a weird guy that never got asked to the prom. Get a life little man!!!

  • Stephen

    The problem that faces this country is that we are being given false choices. We are told to choose between Republicans or Democrats. We should be choosing between conservatism and progressivism.

    The reason people think there is no difference between the two major parties is that progressives dominate both parties and that is all we get to choose from. Modern progressives include Obama, Clinton (both of them), Carter, Bush (both of them), Macain, Perry, Romney and every other person that we are told have a chance of being elected.

    Unless we elect actual conservatives to control our government things can not get better because we are only getting varying degrees of the same socialist progressive agenda from both parties.

  • prepper

    I volunteer to stock up on tranquilizers and sleep aids for trade when the collapse hits us like a bomb. Cash will have no value. Think, What will people need to survive mentally and physically?. Stock up on that! You’re going to need a lot of things you can trade for food and necessitites. I’m humoring you of course ;)

  • quercus1

    It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.

    Harry S Truman April 13, 1958
    33rd president of US

  • Christine

    I have been depressed for over 24 years: first my husband ***************** his wife and family when I was 5 months pregnant, then my own family ignored my requests for help, then I was left homeless because the apartments I applied for wouldn’t accept children (unless I ********** the apt. manager on a weekly basis), then it took me 6 years to get a 2 year college diploma–whereas I chose to spend my time raising my children and not pursue additional education–up until my second husband **************** my 12 yr old daughter and I responded immediately–losing my house, my ‘friends’ and any help from my family–plus the anger from my children: my daughter blamed me ”cause I married him’ and from my son, who dropped out of school–blaming me for his being abused by my second husband—and both children have gravitated towards their natural father–who lived very economically while ‘not with family’–and is now welcoming his (potty trained) children into his fold and wealth, only to further diss the mother who took them away from his beatings (of me and the kids) because he has ‘STUFF’ and means. The kids only see his ‘stuff’ ’cause, as kids they see ‘stuff’ as success… Therefore I am a failure. I spent my entire youth and work ability to raise my kids—and they have abandoned everything I did for a promise and goodies now given them–from the dad who abandoned them….and so I’m depressed. I now know I could have circumvented all this depression had I killed their natural father in the first place (avoiding the HELL of ‘joint custody’), moved to Austrailia–and of course (wouldn’t have married again if I’d done the previous) furthered my education to a Masters Degree–and could now be eligible for a job. Hindsight 20/20: NEVER GET MARRIED, NEVER HAVE CHILDREN–if you do have a kid–tell no one nor be involved with your siblings/parents. Bottom line: Family is crap. Live for yourself only. That is the only true way to happiness…don’t waste your precious ‘daylight’ on family: they will only drain you…of yourself. I wish I believed in incarnation: I’d slit my wrists now–and start again..and I don’care if it is as an amoeba–nothing can be as painful or dissapointing as being abandoned by the people you love… Love (of others) is NOT the answer to life’s happiness–love of self IS.

  • jerry O

    A lot of news today
    about how the economy
    is getting better.

    Look around.

    How many people do you
    know that are out of work
    or taking less money
    than they used to.

    Housing prices continue
    to fall.

    Our government continues
    to tell us what they want
    us to hear so that we
    are lulled to sleep and
    they can get richer and
    richer.

    I am so glad I took the advise
    from a millionaire .

    I came across his site by
    accident and decided to
    follow his recommendations.

    I am so glad I did.

    Take a look at his site
    He will show you how
    to profit like the ultra
    rich in times of
    economic crisis.

    For his free video:

    http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y

  • http://theeconomiccollapseblog.com mintukumar

    The people of America falls a new problem they thank that recently they are recessed from their won country.

  • 007

    I hate the banks and the federal reserve. They force us to give them money under threat that they will plunge the world into depression. Will anyone ever step back and ask how we wound up with such a screwed up, corrupt and insane monetary/financial system? When you have a system where the only way money is created is through creating debt, you have to know we took a wrong turn.

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