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Is The Economy Improving?

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Is the U.S. economy improving?  That is what Federal Reserve Chairman Ben Bernanke would have us believe.  Bernanke declared today that the “recovery appears to be proceeding at a moderate pace” and that everything is going pretty much as planned.  Sadly, the mainstream media and most of the American people still seem to have faith in the economic pronouncements of Helicopter Ben.  They seem to have forgotten all of the Bernanke quotes from before the financial crisis.  Bernanke pledged that there would not be a housing crash and that there would not be a recession.  It is amazing that anyone still believes that Bernanke has any credibility left.

Of course “economic recovery” is one of Barack Obama’s favorite new terms.  He loves to talk about all of the signs that the economy is improving.  To Obama, all of the recent bad economic news is no big deal.  He says that what we are experiencing right now are simply “bumps on the road to recovery“.

Well, whether you want to call them “bumps” or “potholes” or “massive gaping wounds that are gushing blood all over the place”, the truth is that the U.S. economy is not improving at all.  In fact, it is rapidly getting worse.

Let’s take a look at just a few areas of the economy….

Federal Government Finances

As I wrote about yesterday, the national debt is completely and totally out of control.  Since Barack Obama took office, the U.S. national debt has increased by nearly 4 trillion dollars.

Keep in mind that from George Washington to Ronald Reagan, the U.S. government accumulated only 1 trillion dollars in debt.

Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.

Now the Democrats and the Republicans are busy negotiating over some modest reductions in spending.

But unprecedented federal spending is one of the only things propping the economy up right now.

If the U.S. economy is performing so poorly after being flooded with “stimulus money” from the federal government, what is going to happen once the federal government cuts back?

State And Local Government Finances

All over the United States, there are large numbers of state and local governments that are on the verge of bankruptcy.

For the moment, let’s just focus on the state of Illinois.

Did you know that things have gotten so bad in Illinois at this point that the Illinois state government is letting bills go unpaid for long periods of time on a regular basis?

It’s true.

Right now they have billions in unpaid bills and they are facing a financial future that is so bleak that it is almost indescribable.

In one recent article, author Stephen Lendman described the horrific financial crisis that Illinois is facing right now….

With spending exceeding revenues, and obligations not postponed, unpaid bills are growing “at a frightening rate. For instance, IGPA’s Fiscal Futures Model indicates (they) could reach $40 billion by July 1, 2013, with an associated delay in paying those bills of more than five years.”

Besides its $13 billion deficit and $6 billion in unpaid bills, its pension fund is about $130 billion in the red – a red flag that state workers may lose out altogether, wiping out their promised retirement savings.

But it isn’t just the state government that is having problems.  According to Cook County Treasurer Maria Pappas, the average household in Chicago would owe a whopping $63,525 if all local government debt was divided up equally among all of the households.

The truth is that even if the finances of the federal government could somehow be fixed, there would still be dozens and dozens of very significant “government debt problems” all across America.

With so many state and local governments drowning in debt, jobs are being slashed at an alarming rate.  UBS Investment Research is projecting that state and local governments in the U.S. will combine to slash a whopping 450,000 jobs by the end of next year.

So would the U.S. government step in and start bailing out state and local governments?

Not likely.

U.S. Representative Paul Ryan has said the following about the prospect of bailing out the states….

“If we bail out one state, then all of the debt of all of the states are almost explicitly on the books of the federal government.”

So for now, state and local governments are on their own.

Commercial Real Estate

Commercial real estate continues to decline all across America.

Moody’s/REAL All Property Type Aggregate Index fell 3.7% in April and is now the lowest it has been in over 10 years.

Overall, commercial real estate is down by over 40 percent since the peak back in 2007.

Residential Real Estate

The United States is dealing with a housing crash that never seems to end.

According to the National Association of Realtors, existing home sales in the United States fell another 3.8% in May.

During this housing crash home values have declined more than they did during the Great Depression and there does not appear to be any hope in sight.

New home sales are in even worse shape.  During the first three months of this year, less new homes were sold in the U.S. than in any three month period ever recorded.


As 2009 began, the official U.S. unemployment rate was 7.6 percent.  Today it is 9.1 percent.

The American people keep waiting for a “jobs recovery”, but it has not shown up.

Sadly, all of this is part of a long-term trend.

Over the past decade, U.S. multinational corporations have been laying off millions of workers in the U.S. and hiring millions of workers overseas to take their place.

The labor of American workers is rapidly losing value in a globalized economy.  Big corporations have a tough time justifying paying ten times more to a worker in the United States when they are allowed to hire people for slave labor wages overseas.

The share of the national income taken in by U.S. workers continues to decline.  Just consider what Mortimer Zuckerman had to say in a recent article for….

Labor’s share of national income has fallen to the lowest level in modern history, down to 57.5 percent in the first quarter as compared to 59.8 percent when the so-called recovery began. This reflects not only the 7 million fewer workers but the fact that wages for part-time workers now average $19,000—less than half the median income.

In the United States today, there are not nearly enough jobs for everyone.  The number of “middle class jobs” has fallen by about 10 percent over the last decade.

Only 66.8% of American men had a job last year.  That was the lowest level that has ever been recorded in all of U.S. history.

We are seeing the rise of a whole class of people that are chronically unemployed.  At the beginning of 2009, the number of “long-term unemployed” in the United States was approximately 2.6 million.  Today, that number is up to 6.2 million.

So in light of these employment statistics, can anyone really say that the economy is improving?

Economic Anxiety

The economy is the number one issue on the minds of the American people.  There is an extraordinary about of economic pain out there today, and Americans are becoming impatient.

According to CNBC, the Money Anxiety Index is at its highest level in 30 years….

The latest indicator to ring up trouble is the Money Anxiety Index, which uses traditional economic metrics as well as other factors to gauge the level of consumers’ worry regarding their personal financial conditions.

According to the May figures, the MAI is not only at its highest level in 30 years at 91.9 but also two months away from indicating another dip into recession. In the past, five straight months of increases in the index often signaled recession.

Most recent polls show that the American people are rapidly becoming more pessimistic about the direction the U.S. economy is headed.

According to a recent CNN poll, 48 percent of Americans believe that “another Great Depression” is likely within the next 12 months.

When you really stop and think about that number, it is really frightening.


Ben Bernanke may not admit it, but the truth is that the price of just about everything is soaring.

For example, when Barack Obama took office, the average price of a gallon of gasoline in the United States was $1.83.  Today it is about $3.74.

So what are our politicians doing about it?

Not much.

They just want to pretend that it isn’t happening.

In fact, members of Congress are actually tinkering with the idea of changing the way that inflation is calculated once again.

By making inflation appear lower, it would be easier for Congress to deny cost of living increases to those on Social Security and other social programs.

How sad is that?

Economic Suffering

As American families find it increasingly difficult to pay the mortgage and put food on the table, many of them find themselves forced to put off other expenses.  According to one recent survey, 26 percent of Americans have put off doctor visits because of the economy.

Other Americans can’t make it at all without government assistance.  As 2007 began, there were only 26 million Americans on food stamps.  Today, there are more than 44 million Americans on food stamps, which is an all-time record.

It is not good to have so many Americans on food stamps, but it is probably better than the alternative.

If there were tens of millions of Americans that could not feed themselves we would probably already have economic riots in the streets.


So do our politicians have any solutions?

Of course not.  Everything that they have tried has failed.

Several top Democrats in Washington D.C. are now calling for a new economic stimulus package.  When in doubt, our politicians usually revert to spending more money.

Sadly, this is about the best that our economy is going to get.

What we are experiencing right now is “the recovery”.  As we move forward things are going to get progressively worse.

A lot of people don’t like to hear that we are in the middle of a long-term economic decline, but that is the truth.

The era of tremendous economic prosperity for America is coming to an end.

An economic nightmare is coming.

You better get ready.

  • Chris

    Well, I’m a faithful reader. Sold my house in 2006. I sold it because I saw the crash coming. I read Prechter’s book “Conquer the Crash” and after additional research and observation, which included watching the housing market go nuts, I decided I would take profits. My fiance thought I was a genius 2 years later. I’m not. I was lucky and worked hard at research.
    Well I’ve been renting ever since and I just don’t see the value in buying again yet.
    Can I just ask a basic question? Who writes this blog and what is their goal? No where can I find even basic biographical or even deindentified info. The reason I ask is because I like to know what someone or some groups motivation is. I don’t want your address or your full name. Just give me an idea of why you are writing and your general background if possible.

    Thanks for taking the time to try and keep the general population informed. When I attend social functions and the topic of me renting (I have an excellent career still and plenty of money to buy) comes up, it never ceases to amaze me how really clueless people seem to be. And I’m not talking dumb people or ignorant ones. I am saying even intelligent, accomplshed folks who should know better just seem to have this huge blind spot when it comes to the economy and this country. No one seems to want to get it. It doesn’t matter how the data reinforces where we are headed. It’s truly bizarre.

    Anyways, thank you again.

    Chris Elliot

    • Michael


      I write this blog. 🙂

      You can find out some information about me here….

      I do not represent any politician or organization. I am just a concerned American that is trying to wake people up.

      Thankfully, because I do not represent any particular organization, I don’t have anyone to censor me.

      When I first started this site, I thought I would be able to stay relatively anonymous, but that has just not been the case. But I still do try to keep a relatively low profile so that the focus can stay on the issues.


      • moses737

        I would have to admit Michael; this website has been a very great blessing to me. Thank you very much!

        • Michael


          Thank you for saying that Moses. You (and all of the other regular readers) are an incredible blessing to me as well.


    • moses737

      Chris. How can you do better by renting; when your property taxes and other write offs are lost? Explain that to me.

      And when the antichrist emerges and takes over the whole world; what will you do then? Will you take their mark of the beast chip in your forehead or hand? And you should know that if you do; you will forever be cursed by God; and will be tormented, 24/7, forever and ever; because it will mean that you have sided with and chosen Satan and his antichrist beast leader as your god and lord; according to Revelation 13 & 14:9-11.

      • amber

        >How can you do better by renting; when your property taxes and other write offs are lost?

        The tax write offs are an illusion.

        If the choice is renting, or owning property free and clear, with no home owner association dues, then the latter is the smart financial move.

        There is no difference between a slumlord, and a home owner association.

        The rent versus mortgage debate is always going to depend upon the individual’s specific financial circumstances, and the terms and conditions of the specific mortgage.

        The major issue is how much you can afford to pay. If the rent, or mortgage exceed 20% of your gross paycheck, you are begging for financial trouble.

  • WHAT WOULD JESUS DO ????? THROW OUT THE MONEY CHANGERS !!Jesus entered the temple area and drove out all who were buying and selling there. He
    overturned the tables of the money changers

    • moses737

      This only applies to Churches Smash!! Our economy is being destroyed from within by President Obama and the International Bankers/Illuminati kingpins. Their best puppet, Former President Bush started it; and now their puppet, Obama is finishing the destruction of the Great American Empire.

      And after they finally bankrupt the American economy along with all the other world economies; they will chage the political system of the whole world; and have their One World Luciferic Government. And then they will enslave us all; and try to force us to take their zombie making and mind controlling, mark of the beast chip in our foreheads or hands.

      And according to Revelation 13 & 14:9-11, if you take their Mark (chip), you will forever be tormented in the lake of fire and brimstone, 24/7, because it will mean that you have sided with and joined Satan and his hellish antichrist beast leader; and their leaders.

      Money is good when you use it to be a blessing for your family and for others who don’t have as much. But these devils mentioned above; want to continue to rob Americans at the gas pump; and when they are in hell; they will be choking off the gasoline fumes in hell. Why? Because they enslaved the whole world with their very high gasoline prices; that is further crippling Americans.

  • The problems we have today are so deep and complicated that it boggles the mind. It’s too easy to blame it on the government and the president. Even if you got rid of all wars, the corruption and incompetence, we would still be in trouble. It still doesn’t account for the trillions of dollars that we are using in relation to historical debt levels. Where is the money going? All civilizations run there course. The music just happen to stop on our turn. Fancy that. But that’s a good thing because now we have no choice but to change or perish. It simply comes down to this. We can relax and learn how to work together, or we can do as we’ve always down in the past. Just kill each other off to the point that our resources can sustain us, messy. Think about it.

    OsiXs (Revolution 2.0 – The Smart Revolution)

    • Ben Dover

      We will do the latter, as always.

    • moses737

      Actually Morpheus – We are fighting the great Matrix system of the International Bankers/Illuminati; who has been robbing the nations for hundreds of years; and have become experts on it. And they will continue to enslave the whole planet with wars and their coming, Mark of the Beast System. And their beast chip in peoples foreheads or hands will make people their zombie and brainless slaves.

      And if you take it; you will be forever doomed and rejected by God. Why? Because it will mean that you have sided with Satan and his antichriwt beast leader and their Beast System.
      Yes Morpheus, I have taken the red pill. And the red in the pill means that I am a True follower of Jesus Christ. And by Him shedding His blood for me on the cross; I am set free to see the Truth; we are indeed in Satans matrix; and only the blood of Jesus can wash our sins away and make us see clearly.

      • yourecrazy

        youre crazy

  • DownWithLibs

    Yes, I keep hearing Obama proclaim that everything is going along like they wanted it…basically as they have planned it. So is he finally going to admit that he wanted to hamstring us? Is that the plan that his admin. had all along? Destroy the U.S.?

    And while we are on the topic – what exactly is his definition of Hope? Because as far as I can tell, it is not the same definition that I understand to be true. (Don’t worry, I totally got his definition of Change!)

  • Edward Gein

    The numbers continue to mean nothing as long as people aren’t going hungry. Even if everyone is out of a job, out of a vehicle, etc, they still will not rise up in protest as long as they can feed their fat faces. When will this no longer be true?

    • Chuck D

      Edward you nailed it. Totally agree with you.

    • Otown Right Guy

      That’s their breads. But the masses of ignoramuses love their circuses too: NASCAR, “Pro” Wrestling, NFL, NBA, Oprah, American Idol, Reality TV, Lady Gaga etc. As it happens, the greedy, overpaid idiots who play with balls in the NFL and NBA may actually go in strike this fall, demanding more money. Maybe that will wake a few people out of their stupor.

  • mondobeyondo

    If I ran my personal finances the same way that the federal government and state governments run their finances, I would be insolvent, bankrupt, my home would be foreclosed, I would be unemployed, and my gas, water, phone and electricity would be shut off until payment is made.

    Not only that, my creditors would take possession of all electronics that have a lower case “i” as the prefix, my vehicle would be repo’ed, and my pleasant carefree life would be exchanged for one of being behind prison bars. (Meet your new BFF! Your cellmate is a convicted drug dealer from Los Angeles, you’ll get on well with him!)

    Government somehow gets a free pass though. With rare exceptions, politicians don’t go to jail. They aren’t penalized. Unlike millions of ordinary people, Congressmen/women have pretty secure jobs, until we vote them out, or they do something stupid like Andrew Weiner did. Or that guy who flew to Argentina while telling everyone he was hiking in the Appalachian mountains.

    Chase the little mice like Bernie Madoff, and let the rats like Bernanke and Geithner go free. They rob Peter to pay Wells Fargo, Bank of America, JPMorgan Chase, Citibank, and oh yes, Paul, too.

    It’s a shame, because our elected “leaders” are the reason why most of us are in the predicaments we are in now. But it’s not a surprise. Most politicians were bought and paid for by Wall Street long ago.

    Umm, back on the topic.. lost my train of thought for a moment. Yes, the economy is improving. Barack Obama told me so.

    (Standing in front of podium and teleprompter, in faux Obama voice) There are jobs everywhere! Why, just yesterday, a friend of mine just got hired at 3 different jobs! One at Wal-Mart, another at McDonald’s, and a third at Home Depot! Our recovery has never been stronger! And we have never been so optimistic!! We are already bouncing back from the economic bump on the road. Yes We Can!! (all together now!) Yes We Can!!

  • Save the Republic

    The reason everything the politicians have tried has failed is because everything they’ve done over the past 40 or more years has directly caused the problems. All they had to do was 1)Do what is in the best interest of the majority of American citizens (like protecting good paying jobs), and 2)Obey the Bill of Rights/Constitution. Instead, they worked to line the pockets of the few that lined their pockets, and sold out and destroyed our nation.

  • LostContinent

    Ben is right:
    Things are actually VERY GOOD compared to the hellish nightmare that is about to hit every American rich and poor.
    This is the end of the economic prosperity as you thought you knew it.
    Very soon there will be millions unemployed, homeless and scavenging for food. A lot of these people will be your mothers and fathers on small fixed incomes, brothers and sisters left unemployed and your very own children scavenging for food through dump yards like they do in India.
    I am not kidding people this is going to be a very common site to see in the United States.
    People will no longer respect one another because they see themselves all the same, trapped in a country of economic despair.
    Prepare your hearts and minds for the worst is yet to come…..very soon.
    I am praying for everyone.

    • Michael


      Yes, we should all pray for each other, and when things get tough we should be compassionate to those that are in need.


  • Mikey

    Uh oh. We sholl is in trouble. We be in a recession.

  • Anthony Lisacchi

    Only one Hope, Matthew %: Take no thought what you should eat drink and wear, for your heavenly Father knows you have need of such things.Jesus is the only light that we can depend on

  • El Pollo de Oro

    The government’s 9.1% unemployment figure is bogus. There are millions of Americans who have unemployed for so long that they have simply fallen off the government’s radar. The real unemployment rate is at least 20%, and that isn’t counting the millions of Americans who are underemployed: the college graduate with a masters degree who works at the dollar store, the person who used to make 50K or 60K and is now working for minimum wage. But while millions and millions of Americans are struggling badly, the bailed-out White Shoe Boys (as Gerald Celente calls them) are doing better than ever. With the American middle class being wiped out, we are no longer the United States of America; we are now a Third World economy called The Banana Republic of America (BRA). The BRA, as Celente points out, is the world’s first UN-developed country—and when the neo-poor/neo-peasants who used to be middle class get sick of the miserable circumstances they now find themselves in, things are going to get bloody. Get ready for civil unrest, and get ready for violent crime to skyrocket.

    Carjacking, violent home invasions, murder for hire, and drug trafficking will be major growth industries in the BRA just as they have been major growth industries in other Third World countries. Oh, and let’s not forget kidnapping, which is pandemic in Mexico, the Philippines, Brazil, Papua New Guinea, El Salvador, Venezuela, Guatemala and Honduras. Desperate people do desperate things, and that includes kidnapping. Here’s how it works: let’s say that you’re part of the affluent minority in Caracas. Gangs of professional kidnappers snatch your daughter in broad daylight, demand ransom, cut off one of her fingers and mail it in order to show they mean business. Sometimes, the kidnapee is returned after ransom is paid (minus a finger or two), but sometimes, the kidnappee gets a bullet in the head.

    Kidnapping is part of what I call the DPDDTT: The Desperate People Doing Desperate Things Tax, which is collected by force in some Third World countries. The uber-rich in Europe can do without bodyguards because they live in a safer environment, but in
    Latin America, bodyguards are a necessity because of the harsh, ugly reality of the DPDDTT. If you have a seven-figure income and live in Guatemala City, armed bodyguards are the only thing standing between your loved ones and a kidnapper.

    Michael T. Snyder writes: “It is not good to have so many Americans on food stamps, but it is probably better than the alternative. If there were tens of millions of Americans that could not feed themselves, we would probably already have economic riots in the streets.” I totally agree. For millions of Americans, jobs that pay a living wage would be preferable to food stamps. But those jobs aren’t being created, and the last thing we need is to increase hunger in the BRA. In the words of Bob Marley, “A hungry man is an angry man.” And I would add that a hungry man is more likely to collect the DPDDTT—which is usually collected at gunpoint in Third World hellholes.

  • Dumbing Down-most states no longer require social studies-history requirements for HS. This leads to a gross ignorance of how our government and economy is (supposed to) run. Te government plays oil up and down to allow the dollar vaue to adjust so business can sell cheaper and more competivily in the global economy at the expense of that taxpayer. We need to address how the system works, OT.

  • fernando

    The problem of america is absolutatly withiaout solution, this rticas speak about every thing ,but infortunitly like all americans ( with his proud , glory , honnor land), forget that without finsh the wars agenst weak contryes and peaple they willnwvwr fix the problem…..sory may bad inglesh

  • Brady

    Another great article. It baffles me how sheeple can just keep being fed the same crap from KNOWN liars and cheats. As bad as things are going to get, I hold comfort in the idea that one day people could truly be “free” from crushing debt, interest, derivatives, and all other constraints made by fiat currency. A revolution in the human mind is neccesary before true reconstruction can take place. At this point I feel the only way to do that is for people to get back to what generations did before us. Simply Survive

  • Patriot Alice

    As I watched Mr. Bernanke speak, I could see in his eyes, that he lacked confidence in his own knowledge….The steps that we have to take now were supposed to be taken a couple of years ago before the trillions borrowed and spent…..Now the problem is much worst because of the excess debt and deficits…

  • HerrLT

    Michael: myself and MANY others appreciate the work you are doing here. Men lie and women lie but numbers do not: this nation is headed toward disaster. Keep handing the red pills out and God bless the ones who choose to take them.

    • Michael


      Thank you for the kind words. I put a lot of work into these articles so it is good to know that people appreciate them.


  • wwjd

    the stage is being set-prepare for change you never imagined -unless you know your Bible.

  • mark

    Every person in this country that recieves any benifits from the government needs to take a huge haircut. Government pensions are way out of line and need to take a 75% cut when compaired to the real world. I am a retired plumber and I recieve the same amount of dollars as when I retired.And I have to pay 1/3 of my pension towards health benifits. And believe me that I am thankful for what I do recieve. We do not recieve cost of living raises. So as things get worse do not cry for the government class, for they will still be in better shape than most. People demand social security because they say we paid into it. Well, you paid into a ponzi scam and the money that you paid went to your parents before you. As a matter of fact this site should research Helvring vs. Davis and explain to people the truth of the law when SS first came into being. There is no trust fund for SS and there never was supposed to be one. Those bonds that make up the fund are not worth the paper that they are printed on. Remember folks that every dollar that you demand from the government, 42 cents is borrowed that younger people will have to pay back to the bankers very soon and for a long time to come.

  • McKinley Morganfield

    “You better get ready.”

    Amen. Everyday, little by little, stock up on the basics: water (& purification), food, fuel (cooking and warmth), and yes, ammo. No one knows what will start the panic and no one knows when the panic will start, but the window narrows everyday. Look towards family, trusted friends, and reliable neighbors for support and cooperation. You’re going to need somebody to watch your back. You can’t survive for long all by yourself.

  • kalord kuntz there is a national sundaylaw coing

    • Otown Right Guy

      Seventh Day Adventists are kind of like looney left-wingers. Eat beef! Its what’s for dinner!

  • Piglet

    [The number of “middle class jobs” has fallen by about 10 percent over the last decade.] Quite likely this trend, as well as all of the other unpleasant ones, will only continue in the years ahead.

    “Green shoots,” anyone? Haven’t heard that one for a while now.

  • Maria

    Record high 44 million on food stamps.

    Record low 66.8% American men employed.

    Unbelievably, only 48% of Americans THINK we are HEADED into another great depression within the next 12 months?




    Made possible by the GREATEST SUPPRESSION OF TRUTH the world has ever known.








  • Gary2

    Hey Michael-thanks. I paid my mortgage late for the first time in years. I did pay it for June with a hefty late fee so I am still current. I/we simply do not make enough money to have a middle class life anymore.

    60% of our income goes to pay the mortgage (includes escrow etc). If it was not for food stamps/food pantries/badger care (which the gov wants to cut to give the rich another tax cut) I would be totally screwed.

    Trying to live a lower middle class lifestyle on shitty low pay service jobs is extremely challenging, much less a middle middle class lifestyle.

    Many many people feel the way I do. I am in no way unique in my opinions.

    Because my home is worth 40% more than I owe (we have lived here for years) I am in better shape than a lot of other homeowners.

    So to answer your original question I do not know anyone who would say the economy is improving. Maybe some rich folks and Wall Street but no one I know.

    I never got anything from the bubble(gain) and am upset that now I am having to share in the pain (austerity)while I see the bonuses flowing on Wall Street. Our system is so rigged. A fellow poster says the only solution is campaign finance reform to which I agree but how we get from here to there when the people who would have to implement it would be hurt by it is beyond me.

    • Granite Prepper


      Truly sorry to hear about your financial plight. I truly believe the system is broken in so many ways that we are all screwed. Don’t think taxing the rich is going to solve this one.

      • Gary2


  • A.S.

    Fire all of them– in Congress (both houses), in Executive and Judicial branches, in all of the State governments, in all of the local governments, etc.–all of them, except RON PAUL. He should be President and governor of all the states and more. He is the only honest person in any U.S. government post since RONALD REAGAN.

    • Ben Dover

      In a way Dr. Paul is part of the problem. He has been in Congress a long time. Most of them will not leave unless it is in a box. Who in their right mind would leave a sweet gig like Congress? It pays about $165k plus all you can steal. For the most part, you barely have to show up (Obummer was good at that part).
      If you step on the wrong toes, at the most they kick you out of the club.

    • Otown Right Guy

      Reagan expanded the federal government. And started us on the road to gargantuan debt levels. He also eliminated many middle-class tax deductions like sales tax, credit card interest. So don’t make his a saint. But too his credit he kept us out of the perpetual wars of the neocons under Bush/Clinton/Bush/Obama.

  • Syrin

    So what do you mean by get ready?

    I have gold and silver, guns and ammo, a year’s worth of food stored away. I am looking to put a well on our land and am looking at buying farm land. What else is there to do? Where else is there to go? My biggest concern are roving gangs and home invaders.

  • Colin
  • liberranter

    Sadly, the mainstream media and most of the American people still seem to have faith in the economic pronouncements of Helicopter Ben.

    That’s because the Amoricon Sheeple have mutated over the last century into the stupidest creatures ever to inhabit God’s Earth, a mutation that isn’t likely to evolve a “smart gene” any time in the foreseeable future. For a(n unintended) documentary of this fact, watch this movie.

  • estamos jodidos

    Things are certainly looking bad. It is difficult to understand the problem much less the solution. Placing blame and using labels on others does not help.

    From my perspective, we are in an end game which is tied both to energy and finance. The peak of oil production is now starting to limit growth. For the past several years we have stayed at a steady production rate despite hundreds of billions of dollars being invested. As we reach the maximum production limit, the price skyrockets which cripples the economy.

    At the same time, our financial system is crafted on fiat currency and geared toward continuous growth. Money is created from nothing and lent out at interest. Where does the interest come from which must be paid back? Future borrowing is the only source, as that is how fiat currency is created. With a crippled economy which can not grow because the energy sources can not be expanded, we are heading toward a situation where the population is in overshoot compared to the resource base. For a peek ahead to see how the story ends, research the reindeer of St. Matthews Island.

    If there is any bright spot to the future, it is that those who follow the events, and are willing to prepare for their own self reliance, MAY have a chance for survival.

    Perhaps future generations, if there are any will learn a lesson that we should try live in balance and in harmony with nature, and will learn what true wealth is

  • I go for the Gold – better than printing Euros and Dollars.

  • As a small cafe owner i can say the good ole days are gone!!but we have had some positive signs lately!!BUT all the money goes to the big corporations and state and federal taxes!!THE FRESH REVENUE MUST BE SOME OF THE FED MONEY PRINTING!!Now, when I was just a little boy,
    Standin’ to my Daddy’s knee,
    My poppa said, “Son, don’t let the man get you
    Do what he done to me.”
    ‘Cause he’ll get you,
    ‘Cause he’ll get you now, now.

  • And remember that a major nuclear accident – such as one at Indian Point – could bankrupt a nation.

  • Thank you for the kind words. I put a lot of work into these articles so it is good to know that people appreciate them.


    • Michael

      Thank you “Smash” – we all have a light to shine and hopefully all of us can do the best with what we have been given during these uncertain times.


  • I do so enjoy these articles and the replies. I offer once again that the cause of these problems is cyclical (the Louis Fienberg theory of macro cyclical activity) and the solutions being proposed and implemented will only exacerbate the basic problem. In the depression of the thirties, there were two cycles at their low point, the economic and the weather cycle. Now the problem is worse because their are five cycles that are at their low point. The weather and economic cycles as well as the solar cycle, the social and geologic cycles are also at, or nearing their most negative points. This is why nothing that the intelligent leaders have tried has had any long lasting positive effect. The social cycle will continue to be in a negative phase until their is a catacylsmic event that will right the moral compass of the people. WW2 did it last time but I hope it will not take that type of event this time.
    There is no logical answer to this problem than to prepare for the worst and hope for the best. Remember, the future belongs to the prepared.


  • mondobeyondo

    If you read the first chapter of Genesis, you will see that God created the universe, sun, earth, all life, etc. – out of nothing.

    The Federal Reserve is printing money out of thin air, based on nothing but faith and confidence.

    I’ve heard international bankers described as “masters of the universe”. So do the Fed and Ben Bernanke think they’re God?!

  • 007

    Bernanke’s voice trembles as he tries to pitch the “modest recovery” line. It is becoming more and more obvious that he doesn’t believe any of it. And his 2 percent inflation is such a joke.

    The Federal Reserve is responsible for so many evils in our economy. Thank you democrats for creating this monster along with the federal income tax.

  • 007

    You hit the nail on the head. Our very sick economy is being propped up by deficit federal spending. When spending is cut it will seem like you are taking heroine away from a drug addict. Still cutting the spending, regulations and taxes is our only chance.

    Not a good state of affairs. I am glad I do Bankruptcy and tax law. I have a feeling I may keep my job.

  • chris, it is called normalsy bias.


    • Michael


      Thank you for the kind words – sometimes I get exhausted because I push myself so hard, and it is very encouraging to hear that people appreciate all the work that I do on this site.


  • Kevin

    Interestingly before the Free Trade Agreements took effect the US workers could expect to earn sufficient wages to pay the mortgage and be off the public dole paying income taxes. Too many food stamps; symptom. Too many entitlements; symptom. Government run health care; symptom. When “good jobs at good wages” (1988 Presidential Campaign phrase) we’re available the symptoms did not exist. Everything including the increased debt is a symptom and most argue over the symptoms not the cause.

    The left and right are nothing but a circular dynamic that in the end leads us all to the same place. Both aiding, fostering and supporting globalization.

    You can’t compete with workers that make 50 cents and hour and get a bonus of a scoop of rice and a fish head for working extra hard.

  • wwjd

    To all my brothers and sisters in Christ, we need to be a light to those living in darkness-a light shining brightly so non-believers are drawn to that light-As Christians I believe there are four aspects to our growth-1 Spending time in Gods word, 2 Spending time in prayer-3 Having fellowship with believers and 4- Witnessing to a lost world. We also need to remind people that as Christians, we will never be sinless, but as we grow, we should be sinning less and less.

  • John S

    So Mortimer Zuckerman thinks part-time jobs pay $19,000 a year? If only. Most people I know in the new reality make about $12K a year. And in two years I’m supposed to buy my own healthcare policy out of that tidy sum.

  • Afi K. James

    Otown Right Guy
    June 25th, 2011 at 12:35 pm · Reply
    Reagan expanded the federal government. And started us on the road to gargantuan debt levels. He also eliminated many middle-class tax deductions like sales tax, credit card interest. So don’t make his a saint. But too his credit he kept us out of the perpetual wars of the neocons under Bush/Clinton/Bush/Obama.

    You can thank the democratic congress for helping reagan for this.

  • Bernanke has one job… to hold the Fed in place as long as he can so the bankers can rip off the country. And the politicians are in on the deal and share in the booty. The only one with balls is Ron Paul.

    Jack Lohman

  • Ann and Jane

    Love the cute faces next to the names; The person (s) who did that has lots of talent; so many varieties.

  • Yes it looks like the wise thing to do, os anything Bernanke the money worshiper has to say, read in the exact opposite.

    As far as the politicians go, they are the suckers of the banking system, their own propaganda, and are virtual puppets, but I think everyone knew that, but in this case as the desperation starts to increase, do not expect these guys to do anything but flee.

    So prepare to cut back, and take care of yourself, and try to stay out of the new housing for the poor they are completing just in time, a nice internment camp, and military prison system upgrade.

    Remember, the empire is elsewhere, financing heroine pipelines, and various post war trafficking of every sort from weapons, to oil, to human souls, and money is truly their god to whom they will sacrifice you for more.

  • John Hodge

    Thank you so much Michael for these articles. I posted this one to my blog (with a link back here to you as the source).

    I want to help you spread the word about the seriousness of this growing problem.

    • Michael


      Thank you – I really appreciate everyone that helps spread these articles. The more people that see them the more good they will do.


  • Richardfg7

    It’s getting better for who? I’m a member of the blue collar set. Many of my friends are union guys that have no work,unemployment has run out, and have nothing but food stamps.There will come a time when people will start to just take what they need. And they’ll do it in large numbers. This is not Mexico where they are accustomed to being poor.As soon as the down and out think they have the numbers they’re not voting them out, they’re dragging them out. By the hair.

  • james michael

    You are correct. The sad thing is the media censors such information like yours and others to make it seem like the economy is recovering mainly due to the fact they don’t want to lose money from endorsers that pay their salary which are businesses. There were 20 million people unemployed about a year ago according to the democratic parties official survey which contradict Obama’s claims and its still climbing.

    Crime rate has increased a huge amount esp. in robberies. The ironic thing is that crime rate has increased a huge amount in the ghettos where people support Obama and those same people don’t realize that Obama doesn’t care about the poor or minorities but about giving out money to businesses and banks though they have created barely any jobs but used the 1 trillion stimulus money to prevent themselves from going out of business and the leftover they used as promotions.
    A huge amount of people are trying to create their own businesses instead of trying to find a job which they wont even if they tried really hard. Tremendous amounts of females have done porn or live porn for people just to make a living and that’s social corruption.

    The unemployed range from the uneducated to college degree holders.

    Obama is running for reelection because he knows every business will vote for him and everyone in high positions in those business will vote for him since those businesses can be as corrupt as they want to and Obama won’t do anything to them and I’m sure he is planning to give a trillion more to them if he becomes reelected. He also has most of the black people to vote for him because they want to act ignorant.

  • Brian Bigelow

    After WW 2, the debt was far higher than today. But we had the baby boom and unprecedented economic recovery. But this time, we have no baby boom. We have an aging society and we keep buying Chinese junk at Walmart. We did it to ourselves and our politicians just want to get elected.

    Brian Bigelow

Finca Bayano

Panama Relocation Tours



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