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It Is Not Just Your Imagination – American Families ARE Getting Poorer

Did you know that median household income in the United States is lower today than it was when the last recession supposedly ended?  If we are in the middle of an “economic recovery”, how can this possibly be happening?  Stunning new statistics compiled by Sentier Research show that the U.S. economy is not nearly as healthy as we have been led to believe.  According to the study that Sentier Research has just released, median household income in the United States was sitting at $55,470 back in January 2000.  In December 2007, when the recession began, it was sitting at $54,916.  In June 2009, when the recession supposedly ended, it was sitting at $53,508.  Today, it is sitting at $50,964.  This is a long-term trend that is definitely going in the wrong direction.  The fact that median household income in the U.S. is now 4.8 percent lower than it was when the last recession ended is incredibly disturbing, especially since all of the things that we buy on a regular basis just keep going up in price.  Food, gas, electricity, car insurance and health insurance all cost a whole lot more today than they did back in the year 2000, and yet median household income has dropped 8.1 percent since that time.  So what does all of this mean?  It means that American families ARE getting poorer.

Yes, the stock market has been soaring, corporate profits have set all-time records in recent years and the big Wall Street banks that were showered with bailout money are absolutely thriving.

But there has been no economic recovery on “Main Street”.

According to the Sentier Research report mentioned above, incomes have been declining in all geographic regions of the country and in all sectors of the economy….

-Median household income for the self-employed has fallen 9.4 percent since June 2009.

-Median household income for private sector employees has fallen 4.5 percent since June 2009.

-Median household income for government workers has fallen 3.5 percent since June 2009.

-Median household income for Americans living in the West has fallen 8.5 percent since June 2009.

-Median household income for Americans living in the Northeast has fallen 4.9 percent since June 2009.

-Median household income for Americans living in the South has also fallen 4.9 percent since June 2009.

-Median household income for Americans living in the Midwest has fallen 1.1 percent since June 2009.

Remember, the recession supposedly ended in June 2009.

Since that time we have supposedly been in a “recovery”.

So if it has seemed to you that American families have been getting poorer it has not just been your imagination.

In a previous article, I detailed 84 statistics that prove that the middle class in America is being systematically destroyed.  If you have not read it yet, I encourage you to go check it out.  At this point it is absolutely undeniable that the middle class in America is declining.  The following are just a couple of the numbers from my recent article….

1. According to the Pew Research Center, 61 percent of all Americans were “middle income” back in 1971.  Today, only 51 percent of all Americans are.

2. The Pew Research Center has also found that 85 percent of middle class Americans say that it is harder to maintain a middle class standard of living today compared with 10 years ago.

3. 62 percent of middle class Americans say that they have had to reduce household spending over the past year.

4. The average net worth of a middle class family in America was $129,582 in 2001.  By 2010 that figure had dropped to $93,150.

5. According to the Federal Reserve, the median net worth of all families in the United States declined “from $126,400 in 2007 to $77,300 in 2010“.

You can find 79 more statistics just like this right here.

At the same time that our incomes are going down, the cost of living just continues to rise steadily.

Thanks Ben Bernanke.

American families are being increasingly stretched financially, and if major changes are not made this is going to get even worse in the years ahead.

Another thing that we aren’t being told on the nightly news is that the percentage of working age Americans that have jobs is lower today than when the last recession ended.

So let’s summarize….

-A smaller percentage of Americans have jobs today compared to June 2009.

-Median household income has declined by 4.8 percent since June 2009.

-American families are far less wealthy than they were just a few years ago.

Are we sure that we are in an economic recovery?

Just look at what is happening to our cities.

The rest of the world once looked at Detroit in awe.

Now it is a global joke.

You can see some incredible photographs of the devastation in Detroit right here.

This kind of thing is happening on the east coast as well.  I have written many times about how horrible life has become in places such as Camden, New Jersey.

Well, now the entire Camden police force is being disbanded, and the policing of the city is going to be turned over to the county.

We are a mess, and it is time to admit that.

Sadly, most Americans simply have no idea how close our economic system really is to total system failure.

Only 24.6 percent of the jobs in this country are “good jobs” at this point, the velocity of money in our economy has plunged to a post-World War II low, unemployment is rampant, more than half of all Americans are at least partially financially dependent on the government and our national debt is crossing the 16 trillion dollar mark.

We don’t need someone to come in and “tweak” the economy.

We need radical reconstructive surgery.

But most Americans do not understand this.

Most Americans do not seem to grasp these things until economic hardship touches them personally.

After all, if you still have a good job and the mainstream media is telling you that everything is going to be okay it is really easy to pretend that we aren’t heading for an economic disaster of unimaginable proportions.

A massive problem that we are facing right now is something known as “normalcy bias”. This is how Wikipedia defines “normalcy bias”….

The normalcy bias, or normality bias, refers to a mental state people enter when facing a disaster. It causes people to underestimate both the possibility of a disaster occurring and its possible effects. This often results in situations where people fail to adequately prepare for a disaster, and on a larger scale, the failure of governments to include the populace in its disaster preparations. The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred then it never will occur. It also results in the inability of people to cope with a disaster once it occurs. People with a normalcy bias have difficulties reacting to something they have not experienced before. People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to infer a less serious situation.

Doesn’t that sound exactly like the vast majority of Americans right now?

Most Americans just assume that since we have always recovered from every other economic downturn in the past that we will always be able to easily handle whatever the future throws at us.

If only that was true.

We are heading into a time that will be unlike anything any of us have ever experienced before, and many people that have blind faith in the system are going to be absolutely devastated when this coming crisis blindsides them.

Our economy has been collapsing, it is continuing to collapse, and the collapse is going to accelerate dramatically in the coming years.

You can have blind faith in the system, or you can get prepared for what is coming.

The choice is up to you.

  • Washington

    I am positive this is the very reason why!

    U.S. Debt On Track to Hit $16 Trillion Within Week By Terence P. Jeffrey August 26, 2012

    http://cnsnews.com/news/article/us-debt-track-hit-16-trillion-within-week

  • Doctor Blue

    Back in the 80’s I owned a pharmaceutical manufacturing company and my best yearly salary was $187,000 and the business grossed about 4 million in one year.
    Since then I have been steadily going down hill and now I am disabled and get $1500 a month to live on. I guess I am better off than some people.

    • paul

      With that salary you should own a nice house and a big garden, and have sufficient health insurance. With $1500 you should be able to lead a comfortable life.

      • Mondobeyondo

        One major key… are the first four words of Doctor Blue’s post:

        “Back in the 80’s”

        It was a different world back then, financially and otherwise. $1500 went a lot farther back in the 80’s. You could pay the rent for an apartment, and actually have a little cash left over for food, that new Tears for Fears CD, and for taking the girlfriend out on a date Saturday night. The business climate was much better back then as well.

        Things are a little different now.

        • http://windgenerators-forhomeuse.info/ Tom

          Agreed Mondo, except for 1 thing : back in the 80´s it would have been the new Tears for Fears cassette tape, the CD did not exist until the next decade…

          • Mondobeyondo

            Oops! :)

          • QuestionMark

            Maybe in the USA. Here in Holland the CD came about the first years of the 80’s. The first music on CD was only classic music like Chopin, Mozart, Beethoven and so on.

    • Alasha

      hope ur rent is reasonable. 1500 barely gets you a phoneboth in these parts. mmmm

      hope ur a light eater and like cook.. eating out or xtra like a $3.00 cup of coffee…

      hope its warm in the winter and cool in the summer so ur bill wont be high

      hope ur travel expenses r cheap even if it is just to the dr.

      SIGH

    • GSOB

      Doctor Blue

      you’ve been there and done that.

      So,… enjoy the remaining time that you have

      – with us!… by continuing to blog here.

      In some respect, I wish I was in your current shoes, but then again, everyone wants to trade places at least for awhile.

  • mark

    Ah, good ol normalcy bias. This has caused most people to never prepare for difficult times. They think that uncle Ben can print our way out of debt. He just prints more and the government keeps on spending more, it never ends and life is good. The stock market loves the printing and the marketleaders proclaim everything is fine. lol That is normalcy bias. Europe is fine, more normalcy bias. My wages are not going up and food is going higher in price, but we don’t need to store extra. More normalcy bias. Well at least I can proclaim that we don’t have normalcy bias

  • http://theeconomiccollapseblog.com Azgram

    I stopped by the local pawn shop today to see about selling some unneeded electronic equipment. The counter was three deep with people trying to pawn or sell their videos, guns and maybe jewelry as I didn’t see big items. Our county has the worst unemployment in the US and I read daily in our newspaper about how many people are needing help from the food pantry. I’m a small business owner and this has been the worst year for sales in the 20 years I’ve been in business.I truly believe if Obama is re-elected it will be the end of many small businesses in our area.

    • McKinley Morganfield

      “… if Obama is re-elected it will be the end of many small businesses in our area.”

      That is the goal, and has been the goal since January 20, 2009. Put as many people as quickly as possible on the food stamp, rent assistant, unemployment doles. Get thee to the plantation and voluntarily shackle yourself to the ‘progressive’ social welfare system. Behave well and you get to work in the master’s house, all others pick cotton under the hot sun.

      • Gay Veteran

        it was Big Business that shipped American jobs to slave labor countries like China, Vietnam, etc.

        • Chloe

          Because of our socialist policies here….

    • paul

      Obama inherited the wars and the homeland security. That’s where the money goes. As a small business owner you surely know what the small guy needs most in these times? Make it and sell it. What’s more, as a business owner you probably have forecasted this crisis and made the necessary preparations? At least if you are better than the government.

    • Andrew Bulles

      I run a local used book shop in Simi Valley, California…. Today, I paid out $13.00 for a box of recent novels. My store hasn’t had a single book sale for the last three days… Last customer to purchase a book was on Saturday. Since the price of gasoline crossed the $3.50 mark last year my monthly sales have dropped on average 30%. Now, the gas price is over $4.00 again… $4.13 today. OUR PEOPLE ARE RUNNING OUT OF MONEY – PLAIN AND SIMPLE!

  • Gay Veteran

    Paul Craig Roberts has similar thoughts:

    America’s Descent Into Poverty

    “The United States has collapsed economically, socially, politically, legally, constitutionally, and environmentally. The country that exists today is not even a shell of the country into which I was born…

    As Dan Ariely (Duke University) and Mike Norton (Harvard University) have shown empirically, 40% of the US population, the 40% less well off, own 0.3%, that is, three-tenths of one percent, of America’s personal wealth. Who owns the other 99.7%? The top 20% have 84% of the country’s wealth. Those Americans in the third and fourth quintiles–essentially America’s middle class–have only 15.7% of the nation’s wealth. Such an unequal distribution of income is unprecedented in the economically developed world…

    The Republicans believe that the suffering of poor Americans is not helping the rich enough. Paul Ryan and Mitt Romney are committed to abolishing every program that addresses needs of what Republicans deride as “useless eaters.”

    The “useless eaters” are the working poor and the former middle class whose jobs were offshored so that corporate executives could receive multi-millions of dollars in performance pay compensation and their shareholders could make millions of dollars on capital gains. While a handful of executives enjoy yachts and Playboy playmates, tens of millions of Americans barely get by…

    Congress, acting on this erroneous belief in free market perfection, deregulated the US economy in order to create a free market. The immediate consequence was resort to every previous illegal action to monopolize, to commit financial and other fraud, to destroy the productive basis of American consumer incomes, and to redirect income and wealth to the one percent.

    The “democratic” Clinton administration, like the Bush and Obama administrations, was suborned by free market ideology. The Clinton sell-outs to Big Money essentially abolished Aid to Families with Dependent Children. But this sell-out of struggling Americans was not enough to satisfy the Republican Party. Mitt Romney and Paul Ryan want to cut or abolish every program that cushions poverty-stricken Americans from starvation and homelessness.

    Republicans claim that the only reason Americans are in need is because the government uses taxpayers’ money to subsidize Americans who are unwilling to work. As Republicans see it, while we hard-workers sacrifice our leisure and time with our families, the welfare rabble enjoy the leisure that our tax dollars provide them.

    This cock-eyed belief, on top of corporate CEOs maximizing their incomes by offshoring the middle class jobs of millions of Americans, has left Americans in poverty and cities, counties, states, and the federal government without a tax base, resulting in bankruptcies at the state and local level and massive budget deficits at the federal level that threaten the value of the dollar and its role as reserve currency.

    The economic destruction of America benefitted the mega-rich with multi-billions of dollars with which to enjoy life and its high-priced accompaniments wherever the mega-rich wish. Meanwhile, away from the French Rivera, Homeland Security is collecting sufficient ammunition to keep dispossessed Americans under control.”

    http://www.paulcraigroberts.org/2012/08/24/americas-descent-poverty-paul-craig-roberts/

    • central planning (FAIL)

      Ol’ Pauly didn’t feel that way when he worked in the Ronnie Raygun administration.

    • Malcolm Reynolds

      Since you posted this drivel (AGAIN – yea, yer a thread spammer), I’m going to ask you cite how any of this isnt bunkum. I wont wait up, I know you cant.

      ‘The Republicans believe that the suffering of poor Americans is not helping the rich enough. Paul Ryan and Mitt Romney are committed to abolishing every program that addresses needs of what Republicans deride as “useless eaters.”’

      BTW sparky, the definition of empirical is thus

      em·pir·i·cal   
      adjective
      1. derived from or guided by experience or experiment.
      2. depending upon experience or observation alone, without using scientific method or theory, especially as in medicine.
      3. provable or verifiable by experience or experiment.

      Ooooh, so they are basing this on their feelings. LMAO. Yer special people.

      But anyway, please cite which republican said that and where. Please cite their proposals to do such.

      Please cite how this isn’t MORE indicative of democrats that ARE rabid eugenicists, who are the ones that thought people were useless eaters. I’ll cite Hillary Clinton for one, who said she is an early 20th century progressive ala Margaret Sanger and George Bernard Shaw who either wanted to eliminate the black race or make people justify their existence (useless eaters).

      “Congress, acting on this erroneous belief in free market perfection, deregulated the US economy in order to create a free market”

      Note that it says ‘deregulated the US economy’. Please indicate where and how this actually happened.

      “The Clinton sell-outs to Big Money essentially abolished Aid to Families with Dependent Children.”

      Oh My, now you’ve put me into a position to suport a Clinton. Please cite where and how this ‘essentially abolished Aid’ happened.

      • Gay Veteran

        I don’t think you understood what Paul Craig Roberts wrote (as usual). He says a pox on both parties which are controlled by the elites.

        So get over your false Democrat/Republican dicotomy. They’re two sides of the same coin.

        • Malcolm Reynolds

          Yea maybe. Covered under the republicans are all evil meme. … and I didnt think so.

          • Gay Veteran

            get a clue, there is NO major differences between the 2 parties, they are both owned by the elites

            the Republicans don’t give a da*n about the middle class and the poor, and the Democrats pretend to care

    • Witness the End

      Gay Vet,

      What part of “Economic Collapse” don’t you understand? Collapse means the poor go cold turkey on their safety net. Huh, how is that considered compassionate?

      We could try to wean Americans off of the unsustainable social programs and maybe, maybe, maybe prevent collapse.

      But then of course, our enemies would rather like to see us collapse, choking on our own net, now wouldn’t they?

      • Gay Veteran

        What is causing the federal budget to explode is the bloated Pentagon budget along with Medicare and Medicaid.

        • Gary2

          the repubes are sickening immoral scum. That is simply a given. It is conservative policies of cut taxes on the rich that have led to the biggest wealth and income inequality ever. That anyone would vote for mittens and eddie paul ryan munster is proof positive that thoise on the right are untethered from reality.

        • John W.

          Reid has not submitted a budget in almost four years. I guess in your twisted, hate filled mind that is the Repubs fault also. Pelosi and reid rammed the health care bill through in the dead of night with no one even knowing what was in it. Not a Pubbie voted for it. So come on basket case who is really at fault.

          • Gary2

            reid and pelosi are not taking food from the mouths of the poor and giving it to the rich. Again you low info conservatives are untethered from reality.

          • Gay Veteran

            no budget. so did the Republicans vote for the continuing resolution that funded the government?

        • Malcolm Reynolds

          ..and the welfare, and the absolute lie that is the SSA and the redistribution of wealth and GM and Solyndra and all of it.

          The Pentagon may be bloated but it also happens to be bloated because of the paradigm of America as world police put into place by idiots like Woodrow Wilson (League of Nations) and FDR (U.N.). And also the only budget item in the lot that is constitutional. Im sorry sparky, you dont get to beat us over head for all the mistakes caused by progressive leftists.

          • Witness the End

            Awesome points!

          • Gay Veteran

            LOL, we’re the “world’s police” because we have an empire

            BOTH parties support the same thing: empire abroad and national security/surveillance state at home

        • GaryToo

          condmning both parties is not the point. You claim that republicans regard the poor as “useless eaters”, you need to back up that claim.
          If no republican ever said it, then im inclined to believe no “iluminati” ever said it either. The claim is getting thrown around so much it is losing any meaning.

          • Gay Veteran

            “claim that republicans regard the poor as “useless eaters””

            not what I said, your problem is with Paul Craig Roberts (who was assistant Treasury secretary under Saint Reagan)

  • Mondobeyondo

    According to the TLI (Twisted Logic Index):

    A 4-person family in 1972 could afford to eat sirloin steak, and the husband and wife could enjoy a martini or a night out on Saturdays and Sundays. Life back then was not easy, by any means. But at least the middle class worker had a chance.

    A 4-person family in 2012 can afford to eat…popcorn. I mean, eat popcorn at the theater. You working serfs have to settle for Orville Redenbacher (however it’s spelled) at Walmart. And popcorn for dinner too, while they’re watching the screen adaptation of “50 Shades of Cobalt Blue”, or whatever that book is called.

    Oh, stop whining, y’all! Lucky you don’t have to eat celery or spinach!! Or sweet potatoes. (They are neither sweet nor potatoes.)

    Give some gummy bears to the kids. If that doesn’t work, well.. ya know? Do you have a little boy or girl that can’t stop chewing some rubber bands? Give them some calamari! It’s frozen squid, and it tastes the same. They won’t know the difference!! Oh, that sweet elastic taste.. yummmm!!

    Hope for the best. God Bless.

    • Michael

      I always enjoy your unique perspective Mondo. :)

      Michael

      • Mondobeyondo

        Thanks! I just call things as I see them. And I don’t even have instant replay! Ha!

    • http://itsafluffy.blogspot.com DL.

      Fifty Shades of Cobalt Blue….love it!

    • Malcolm Reynolds

      “A 4-person family in 1972 could afford to eat sirloin steak, and the husband and wife could enjoy a martini or a night out on Saturdays and Sundays. Life back then was not easy, by any means. But at least the middle class worker had a chance.”

      You know, I wonder about the definition of ‘middle class worker’ sometimes. The 1970s was an analog world. Why do we assume that now in 2012 that the same type of job is middle class? Why do we assume that the analog worker of decades ago SHOULD be earning the same type of living now?

      For instance, I’m a digital guy. I’m a computer programmer and I make PLENTY of money to support my wife and two children. My kids even go to private school. I’m not some bleeding edge pinnacle of technology way high up kind of guy either. I’m just a really good programmer in a non-supervisory position. It’s the good middle class worker job of TODAY.

      Why hasnt the ‘middle class worker’ been redefined for a digital world? Who thinks that a (I dunno, SWAG here) bank teller, should earn enough money to support a family of four like it probably did 40 years ago? The world has changed a great deal and perhaps some of our assumptions should too.

      Anyone get my drift?

      • Gay Veteran

        hard to be a middle class worker when millions of manufacturing jobs have been shipped to China, India, Vietnam, etc.

        time for tariffs, keep the jobs here

        • Malcolm Reynolds

          **************, that flew way over your head.

          • Gay Veteran

            sorry, but not every American can be in high tech

          • Malcolm Reynolds

            Gay that wasn’t my point either. I’m trying to ask why people seem to assume that what was missle class 40 years ago SHOULD be middle class now.

        • Kevin2

          Unfortunately it’s too late. If tariffs came back up now industry is not coming back. We were collectively hoodwinked with the debt fueled BS “Service Economy” while the real economy was being transferred to the third world. The “boiling a frog” strategy worked as long as it was necessary to placate the masses.

      • Really?

        Ok Malcolm, you have a good argument but not everyone can be top of the class and even if we could all go to college and be in our field of choice, their are not enough jobs period. If we could have 20 million computer programmers with your credentials there goes your better than average pay because of all the competition for the same position.
        When we have 100 million people out of work for whatever reason , their is something terribly amiss on a larger scale. I’m work in trade work same employees rotten plus years. What’s ironic is the people I work for are either well off or rentals that are 90% section 8 homes/welfare, if it were not for section 8 I might be in the unemployment sector too. This is the kicker I work for these people that will not or cannot do for themselves, I pay for these programs so I can work, if thats not ironic I don’t know what is . Dog chasing his tail so to speak. I work everyday even after I get home , my girl is in college and it’s still a struggle my pay has not increased in years literally. I’m more knowledgeable than I was five or ten years ago but I’m not worth more monetarily because everyone is strapped which keeps pricing down so we can all work and again at the end of the week hand over a third off the top and much more thru just living expenses.
        The inflation has decreased my pay more and more each year but I don’t quit because that’s not in me even though i see the underbelly of society.I don’t have time for a college degree I’m too busy making things happen. If we were all in the digital world who would fix the broken furnace , the plugged toilet , the faulty electric , leaky roofs and so on why are these people not deserving of as much if not more than you can you do any of these things , until you can do these things with your digital world your gonna need these people to do them for you , it’s ridiculous to think we can all just become digitized into this future when infrastructure still works pretty much the same as it did fifty years ago, although improving but basically the same. I know of people that are educated working at jobs that have nothing to do with their studies.
        Paying off loans for education that can’t find work in . Your lucky to have employment and so am I. I have worked hard to be where I’m at only school I’ve been to is high school and hard knocks. If and when the world goes to crap your programming job might not be so lucrative as the guy that makes heat for your home or water go down the drain.
        40 years ago the bank tellers pay went a lot farther than it does today.
        Your view is offensive at best , we can all do better no doubt but when five people compete for the same job 4 people have to lose so digitizing isn’t gonna fix anything in the here and now what happens when the next programmer invents automated programming where a machine does your job , remember not so long ago people used to put automobiles together and now J.C. Penny is going to all automated registers in the next couple of years . Outsourcing of jobs in the name of profit instead of people and country. If we all followed your insight , you would be minimum wage or looking for work too LMAO, ****************

        • http://msn.com thisonewilldo

          Finally, a MAN that KNOWS the CODE!

        • Malcolm Reynolds

          GUYS! I’m not talking about outsourcing and unemployment. BOTH are horrible to be sure.

          “it’s ridiculous to think we can all just become digitized into this future ” My point is it’s also ridiculous to think you’re going to make a whole lot of money to support your family doing something that “still works pretty much the same as it did fifty years ago,” No?

          “on why are these people not deserving of as much if not more than you ” That’s a sick leftist attitude. You dont ‘DESERVE’ a damned thing.

          “can you do any of these things , until you can do these things with your digital world your gonna need these people to do them for you”

          Golly gee yes. As sick as this may be, I fix my own roof, do my own plumbing, electrical work, drywall and I laid my RV driveway myself. It looks great. About the only thing I cant fix, is the heater and the A/C.

          Out of your entire rant, all I got was ‘poor pitiful me’. Life aint fair sparky. Adapt or not I couldn’t care less, but dont expect to be paid $50 an hour for trade work.

          • Gay Veteran

            of course you’re not talking about shipping American jobs overseas, thus you have no solution

          • Malcolm Reynolds

            *yawn* Yea, I have a solution. Get off your bf’s backside and go learn something. You dont even have a clue what the problem is so the possibility that you’ll come up with a solution is even weaker.

      • Nickelthrower

        @Malcolm,

        I own a small company that produces electronics used by recording studios (Aerosmith, Miley Cyrus, 50 Cent, etc). I thought about bringing on board someone with a strong background in electrical engineering. I could hire an American such as yourself and it would cost me about 130,000 a year after all the red tape, benefits and taxes or I can hire a Chinese electrical engineer with a masters degree that is bilingual for about 700 a month.

        I have not decided yet what to do but I can tell you that someone somewhere is looking at YOUR JOB and thinking the same thing. Your overlords would be fools not to.

        • Malcolm Reynolds

          Oh dont be fooled. My company works HEAVILY at outsourcing us. I’ve dealt with it at evey company I’ve worked for in this field. My saving grace will always be that I’m MUCH better than 99% of those clowns (In actuality, 99% of those clowns are grossly incompetent) and I speak english.

          • Kevin2

            Malcolm Reynolds

            “My company works HEAVILY at outsourcing us.”

            We’re conditioned to say and think of “My Company” when nothing could be further from the truth. In reality employees are disposable machinery and if it weren’t for the efforts and legacy of organized labor you would be treated just like the Chinese and Indians are today.

      • Gary2

        I hope Obama taxes you and spread the wealth.

        • Malcolm Reynolds

          Oh donchu worry Sparky, I’m taxed plenty.

          And in return, I hope you and yours remain in the perpetual poverty you’ve foisted upon yourself through your own stupidity. TANSTAAFL

      • orange

        Hey Malcolm, how long do you think your good life will last? You think the H1B visa holders flooding this country won’t soon take your job? Keep thinking that you’re somehow superior to everyone else, and it’ll bite you in the behind with a vengeance. I know the Bible isn’t very popular nowadays but remember…”Pride goeth before destruction”, and you ARE replaceable. I certainly hope you get treated with the same compassion that you’ve shown the “poor stupid people” when your time comes. Remember, you’ve EARNED it. People like you are the problem, you’re disgusting and nothing is more vile than someone gloating about their worthless possessions (WOW you send your kids to PRIVATE SCHOOL? Let’s all bow and kiss your ring!). Better enjoy it now, be sure to get all that smug superiority out now while you still can, because your elite masters are going to throw you under the bus very soon.

  • seth

    I used to hold the belief that TPTB were in the wrong.

    After having seen how human beings treat each other after a small drop in their incomes, after seeing how people behave in the modern era, whatever their reasons may be, I can see that the human race may be doomed if left to its own devices.

    Mabye TPTB have a point. And whatever is unfolding seems to be inevitable, and not all the fault of TPTB as much as it is more due to human nature of the genral public of the UK.

  • Alasha

    yep, yep, yep!

  • Washington

    Thomas jefferson on central banks, and freedom an american founding fathers warning!
    http://www.youtube.com/watch?v=sAKSDum_biQ

  • DaytoDay

    Good article Michael.

    And let me help put inflation into perspective for people.

    $55,470 in 2000 = $73,347 Today

    And today, the average income is, $50,964… Compared to $55,470 in 2000 that is a NET DECREASE of $22,383 after inflation…

    So, in reality, Americans are over 20 thousand dollars poorer than they were 12 years ago…

    And all the while the price of gas has gone up 300% since 2000, food prices, commodities, cars, utilities are ALL going up…

    Here’s another example:

    Minimum-wage,

    1970- $1.60 ($9.39 Today)
    Today- $7.25

    So, after 42 years the Federal minimum wage, has actually decreased by $2.14 after inflation…

    This is the reality… Are dollar is being devalued through borrowed money printing which causes debt and it’s costing more dollars to pay for the same goods…

    Sources:

    Inflation calculator (By Robert Sahr of Oregon State University Political Science Department)

    Minimum wage Stats, http://www.infoplease.com/ipa/A0774473.html

    • Michael

      Very good comment DaytoDay. I always enjoy when people take things in my article a few steps farther. You are very, very right about inflation.

      Michael

    • k

      Wage increases have historically been a buffer against inflation. But now even they have been almost non existent.

  • CatNap

    http://www.youtube.com/watch?v=7GLz5OjosOo

    (You’ll notice the pentagram at the beginning of this.)

    Even when the ship is going down, the band will play.

  • Les

    A correlation for the decline of the American worker is decreased unionization. Yes, a subject more dangerous than an electrified third rail as those with very strong anti-union opinions will argue that unions are the destruction of America. I believe in my lifetime unions will cease to exist and so will the middle class.
    http://www.americanprogressaction.org/wp-content/uploads/issues/2011/04/pdf/unionsmakethemiddleclass.pdf

    • John W.

      Eastern Airlines. Someone I knew went to work there as did his dad before him. Gone now destroyed by the union that would not give an inch even when the airline was failing. Unions exist for the union bosses and as a funding source for the democrat party. That is their only function.

      • Gay Veteran

        sorry, but without unions there would never have been a huge middle class in this country

        obviously not all unions are good, but then neither is management

        • John W.

          The US coming out of WW2 with the only functioning economy in the world is what made the middle class. Once that happened the Unions started their stealing to get as much free money as they could. In the process they killed the proverbial goose. They did have help.

          • Kevin2

            John W

            Unions did not kill the proverbial goose. All they did is gave the workers a piece of the pie. The US steel Industry (like a host of others) were going to flee to countries that pay wages far below what any non union industry paid in the US. Union or no union the drawl of 50 cent to 2 dollar /hr labor was too hard to resist once the protective tariffs were dropped in the “Free Trade” agreements.

            Thank you John L Lewis and Walter Reuther for seeing to it that the Greatest Generation and some after them reaped the rewards of their hard labor. Their grandchildren will need every dime many of them saved. It’s too bad that this fall of the US is happening in their lifetime.

            Adding a couple of billion virtual slave wage workers to the now globalized workforce is what caused the problem. It’s now a race to the bottom. So far Greece is winning but Spain is coming up close.

          • Gay Veteran

            keep licking those corporate boots

            without unions and regulations there is no counterweight to corporate power (and the result is all around you)

    • Malcolm Reynolds

      Correlation isnt causation.

      Do you believe that the unsustainably high cost of unions, both current and future has any impact on a business?

      Do you believe that the unsustainably high cost of unions on a business has any impact on the decision to abolish those jobs in favor of chaeaper (usually more reasonable) labor costs?

      No i’m not advocating for outsourcing. Outsourcing is selling out. I’m thinking more the difference between the union plants in the midwest that are broke vs the non-union Toyota plants in the south.

      And finally, now that we know the goal of the unions are to overthrow the US govt and install communism, shouldn’t we abolish unions?

      • Gay Veteran

        “And finally, now that we know the goal of the unions are to overthrow the US govt and install communism, shouldn’t we abolish unions?”

        an outright lie, you like to pretend that every union is somehow part of some vast communist conspiracy

        • Malcolm Reynolds

          Yea go watch the video idiot. It wasn’t my supposition. It was a OWS leftist unionista saying it.

          • Gay Veteran

            and what percentage of unions do they represent? 90%? 75%? 50%? 1%?

            without unions you cede all power to corporations

            and we know how well that worked: after hiring strikebreakers, financier Jay Gould said “I can hire one-half of the working class to kill the other half.”

      • Gary2

        companies are sitting on record profits. They need to be forced to pay a living wage. minimum wage should be at least 10 per hour. Most of these scum companies pay their CEO more than they pay in taxes. Tax the MF business HARD.

        • Malcolm Reynolds

          “They need to be forced ”

          Ahh, here we have the summation of the leftist agenda. And understand in no uncertain terms, when you find a way around the ‘force’, they always start shooting you.

          • Kevin2

            Regarding corporations before about 1870 (that was back in the free market USA for sure) you needed to show that your corporation was for “the public good” before you were ALLOWED to form one. Later a corporation got rights like a citizen and as I can see retains more of them then citizens are.

            In the “good old days” of Ozzy and Harriet the CROs made 50 times what a worker made, banks and Wall Street had Glass-Steagall to CONTROL them, Unions membership was close to 50% of the workforce and conservative Eisenhower was in office. I vote to return to those conservative days.

            Regulating the finance industry, protecting manufacturing and supporting organized labor did not hurt the economy it HELPED the economy.

  • Eisenkreutz

    This is what central banks are designed to do. LEARN ABOUT NEW ECONOMIC POLICY AND THE ESTABLISHMENT OF THE CENTRAL BANK IN COMMUNIST RUSSIA. GET EDUCATED PEOPLE. Normalcy bias, you say? Unprepared people gonna starve to death in the collapse? Yawn. What time is dancing with the stars on? I got my new $100 running shoes today. They tight yo.

  • Mustard Seeds

    Absolutely right on the mark Michael….especially with the normalcy bias. This country has “normalcy biased” itself to death.

    After a couple more years of this collapse, normalcy bias will be a thing of the past; because there won’t be anything ambiguous about the state of this country or the world. Reality is hitting us hard. Can we take the punch?

    We’ll find out if this country has any guts left….are we the Cinderella Man we think we are?

    We shall see….

  • angry wombat

    Organized unions have become massive communist global organizations. They do NOT care about or need the American middle class. Look at the incomes of the big boys in the unions, they are the 1%. As with everything else, their goals are driven by power and greed.

    • Gay Veteran

      yeah, we should just go back to the days of the Robber Barons when labor was paid peanuts

      • Malcolm Reynolds

        Straw man argument. You set up a little false dichotomy there sparky.

        • Gay Veteran

          “dichotomy”?

          oh goody, you learned a new word, now go back to licking your master’s boots

          • Malcolm Reynolds

            Hey Gay, you’re prolly the VERY LAST PERSON that should be telling anyone to lick something.

  • Steve

    You are so right on and the Mass Media is so wrong. All the economic commentators suggest how bad off we are and that we need to reduce our standard of living and go through the same thing Europe is going through. instead we need to do what Iceland did and cancel the money and banking system, put all the flim flam bankers in jail and have a debt jubilee for those who paid 20% down or more and played the game fair and square. Then mark everything to market and let the dominoes fall. It will be back to normal in a year or two. we don;t need the banks, when their main purpose is to screw the people, they need to be working for their city, counties, states and country. They need to print interest free money and tie it to something real, instead of a fistful of empty promises. We are sick and tired of the same backward reasoning, time to get it right for once, bring on the jubilee.

  • Cleo

    There is no doubt now in my mind that change is coming this fall. Things could get very interesting before the election. I have some lingering thoughts that there may not be a November election. Who knows?

    • Malcolm Reynolds

      On September 27, 2011, Governor Beverly Perdue, Democrat of North Carolina, told a Rotary Club audience, “I think we ought to suspend, perhaps, elections for Congress for two years and just tell them we won’t hold it against them, whatever decisions they make, to just let them help this country recover[.] … You want people who don’t worry about the next election.”

      That same month, Peter Orszag, Obama’s former director of the Office of Management and Budget, published an article in The New Republic titled “Too Much of A Good Thing: Why We Need Less Democracy.” In it, he posited that the country was too polarized; hence, “radical as it sounds, we need to counter the gridlock of our political institutions by making them a bit less democratic.”

      http://www.americanthinker.com/2012/08/will_obama_keep_power_by_any_means_necessary.html

      Democrats are certainly NOT into ‘democracy’

      • Gay Veteran

        oh, you mean like Republican Mayor Guillani wanted to hang onto to power after his term ended?

  • Old Man

    “.. corporate profits have set all-time records in recent years and the big Wall Street banks that were showered with bailout money are absolutely thriving.”

    In capitalism theory, private enterprise is the best vehicle to create wealth. Wealth for the owners for sure. But if that’s all that is, then why create countries? You create a country to have a secured sustainable society. When a society empowers private enterprise to make money, what’s the benefit for society at-large?

    The benefit must flow to society at-large and this is done via taxation. And the expectation that as private wealth grows it will be re-invested in the society that originated it to crate more jobs and knowledge. To sustain a society.

    But this style of capitalism have been largely broken in America. Let’s check out the fact:

    US corporate profits have been more than healthy. Corporate retained earning and cash-on-hand today has accumulated into an astounding $2.5 trillion. But this $2.5 trillion has been sitting around, not re-invested, not doing anything. Dead money. Why corporate America not reinvesting its massive cash horde back into society especially when there’s so much hurt?

    Good question. The answer is simple: the captains of American capitalism no longer practice national capitalism. They practice ‘global capitalism’, where they have no obligation to any one country or society, or even any one currency. They can do this because the corporation have become so powerful, it is the master.

    But who gave the American corporations so much powers? The politicians. And who put this kind of politicians in office? Why the people. Do they know this will come back to bite? Not really. Isn’t that stupid? That’s self-evident.

    In a democracy, the people get what they deserve. Until they decide they no longer deserve. When will American society decides they have fooled? Good question. I say, if we are lucky, around 2020. That’s when the Wall will comes knocking. Check out YouTube on that F-5 Phantom hitting the 5 ft thick concrete wall.

    • http://msn.com thisonewilldo

      Anytime an old man says something

      I listen.

  • CinnamonGirl

    I thought it was just me. We went from a 50,000 income prior to 2007, to $31,000 last year…and that was up from 28,000 the year before. Yeah it hurts like hell! My husband had to take a job that pays less to be working at all and i have not found work yet.
    But….we got ourselves out of debt, and then gave up our house. We homeschool, garden and raise critters. I turned my front porch into our prepping storage room. We cashed most of our old 401K (new employer has no benefits) and bought a foreclosed house free and clear.
    We don’t much. But what we have is ours. We are better prepared now for life’s uncertainities than when we made more money.

  • Evie

    I saw an interesting ad on telev

    • Mondobeyondo

      You saw that Lunestra ad too, huh? It’s a pharmaceutical plot. Don’t fall for it!

      They broadcast those ads so they’ll give you nightmares every time you think about that butterfly flying through the window and onto your shoulder. You can’t sleep. So you run to Walgreens and buy a bottle of Lunestra. Mission accomplished.

      Turn the channel when you see that ad! Before it’s too late!

      (tongue in cheek, of course)

  • NorthernCanuck

    British families are headed that way, too…

    “Family food bills to soar: British shoppers face paying more for bread, pasta and meat after devastating drought ravages crops in U.S.

    * Family staples will cost much more because of animal feed costs rise
    * British farmers say bad summer has decimated or delayed harvests in UK
    * In U.S., more than 35 states have declared disaster areas due to drought

    By Becky Barrow and Jason Groves
    Daily Mail, London.
    27 August 2012.

    Families face punishing food price rises triggered by a catastrophic U.S. drought, experts warned yesterday.

    They said the American crisis is forcing up the global price of crops used to make staples such as bread and pasta.

    Meat is also tipped to cost much more because animal feed costs have soared, again because of the drought.

    • Zak

      Canuk,

      “Families face punishing food price rises triggered by a catastrophic U.S. drought”

      I don’t remeber the rest of the world thanking USA for affordable food prices. Somehow, from what I remeber, USA was always treated as the big bully.

      Now that the food prices are going up, it seems to be a problem with the USA again.

      I wish rest of the world would read this blog. Americans are suffering as much as everyone else in this global recession.

      Zak

      • John W.

        This drought will be a death sentence for hundreds of thousands around the world. Why the heck did the hurrican season take so long to get started.

    • the ragged trousered philanthropist

      You are correct about the UK.
      However virtually everyone here in England was completely unaware of the drought in America until the article you mentioned that was on the front page of today’s Daily Mail. The Daily Mail is one of the UK’s biggest national circulation newspapers and widely read. It will be interesting to see if the normalcy bias exists here too and see if people disregard this very stark warning. I personally did not see the headline until mid afternoon and expected the supermarket shelves to be empty when I went later in the day. But found just the opposite,(the shelves are still bulging with all sorts of cheap pasta)and no one was panic buying as I thought they might.
      I already have 2 or 3 years supply of pasta in my SHTF store but stocked up with more while it’s still ludicrously cheap. I shall keep checking to see when or/if shortages occur and in the meantime will keep buying it until it rises in price. (As it inevitably must).

  • Evie

    Before I was so rudely interupted.
    I saw an interesting ad on tv. It appears a well known bank is sponsoring a large food pantry.
    So the banks who cause the problem are now sponsoring food pantries? Either this is their new way to profit as it must be a huge tax write off, or this is the reason a lot of politicans do not want people feeding the homeless.
    It is scary to think the ones who caused the collapse will now be distributing food?? Only in the Usury States of America.
    Guess just because they do not care about making people homeless they want to fatten them up for the debtors prisons that they utilize for their .65 an hour jobs.

  • Matthew

    Silver and the US Dollar in 1964 vs Today:

    1964:
    1 Ounce of Silver: $1.30
    1 Gallon of Gas: $0.30
    Federal Minimum Wage: $1.25

    Today:
    1 Ounce of Silver: $28.14
    1 Gallon of Gas: $3.72
    Federal Minimum Wage: $7.25

    In 1964, the Minimum Wage was very close to(96%) of an Ounce of Silver. That Ounce of Silver would buy you 4.33 Gallons of Gas. Today, the Minimum Wage only gets you about 25% of that Ounce of Silver, which will buy you slightly under 2 Gallons of Gas. The entire ounce of Silver would buy you a bit over 7.5 Gallons of Gas. If you had saved Silver since 1964, you would be able to buy 74% more Gas today than in 1964. However, had you saved paper money since 1964, your money would have lost 92% of its Gas buying power.

    Inflation is the one form of taxation that can be imposed without legislation.

    I wrote these numbers a week ago. Since then, Silver has broken the 30 per ounce mark, which only further strengthens Silver’s status as a store of wealth.

    • Delilah

      Thank you so very much for sharing this information. I was looking for this type of info to confirm the book that I am checking out: “Building Wealth With Silver: How to Profit From the Biggest Wealth Transfer in History” by Thomas Herold.

      • Gary2

        r u a modern day delilah?

    • CinnamonGirl

      3.72 for gas? i paid $4.09 last night (in Michigan).

    • A.S.

      Someone should show these stats to Bernanke the idiot, who thinks gold or silver is not real money. He gets an F- in basic economics. These facts really portray, how the average CPI really is a loss of 90 plus percent of 1964 values. That means you work just as hard as people in 1964 and only get about half as much. I pray that Bernanke gets fired and even tried for treason…

  • NorthernCanuck

    And if the money thrown at the ‘too big to fail’ US banks had just been withheld…?

    “Iceland’s recovery continues, declared ‘impressive’

    icenews.is
    22 August 2012

    Experts continue to praise Iceland’s recovery success after the country’s bank bailouts of 2008.

    Unlike the US and several countries in the eurozone, Iceland allowed its banking system to fail in the global economic downturn and put the burden on the industry’s creditors rather than taxpayers.

    In the following years, the Icelandic government made drastic cuts that reduced the fiscal deficit from 14 percent of GDP to just two percent. At the same time, unemployment in Iceland has shrunk to less than five percent, while analysts predict the North Atlantic economy to grow some 2.8 percent by the end of 2012, according to recent reports.

    The rebound continues to wow officials, including International Monetary Fund chief Christine Lagarde, who recently referred to the Icelandic recovery as “impressive”. And experts continue to reiterate that European officials should look to Iceland for lessons regarding austerity measures and similar issues.

    The Financial Times outlined a number of important points for countries in the eurozone to consider in an article published on Monday. These include Iceland’s tactic of pursing “politics of social and economic inclusion”. This includes heavier taxes on the higher brackets while cutting welfare schemes less than other areas of the budget to retain the purchasing power of lower income groups.”

    http://www.icenews.is/index.php/2012/08/22/icelands-recovery-continues-declared-impressive/#ixzz24o0Hptjm

    • Gay Veteran

      Iceland refused to bail out their banks, which is why they are doing better than many EU countries

  • k

    Oh…there has been a recovery……in the corporate sector !!

  • Ken Nohe

    Declining yes, but collapsing no. Not yet. I am old enough to remember the UK in the 1970s. The symbol was a few punks with derelict docks in the background and this was in the heart of London. The Midlands were depressed. Coal was on the way out and North Sea oil arrived in the 1980s just on time to fuel the Thatcher revolution. Likewise in the US, the Bakken may still play this role although the uptick may be much smaller and shorter than expected considering the huge price of developing these fields. In any energy is the key. Look at the price of oil and you will see how rich or poor the US will be in the coming years. The Happy Days of the 50s are most certainly not coming back though.

  • chiller

    The 22 years I was in the semiconductor industry, my pay rose 75%. In the 2 years since the industry has collapsed, I now make 32% less than in 2010. Today I make what I was making in 1999.

  • Ralph Wiggums

    Yellow presstitutes might prattle on about recovery but the economy speaks for itself. The rate of GDP growth under comrade dear messiah has to be the weakest ever recorded. People can see their living standard in decline and the cost of groceries going through the roof no matter what some government lap dog stenographers have to say.

  • Chris

    It’s a redistribution of wealth from the poor to the rich. Reverse Robin hood.

    • mike Beale

      The poor have wealth to transfer? On which planet Captain?

  • http://www.infowars.com/ Anon Patriot

    Well, getting your money out of any TBTF Bank is ONE thing that you can do. However, there are many, many other things that we can all do, too!

    Here are just a few:
    1) BOYCOTT – learn this concept well, and EMPLOY IT – against those enslaving you!
    2) THINK for yourself. TURN OFF the IDIOT-BOX (TV) OR THROW IT AWAY!
    3) QUESTION all ‘authority’ (Big Business/Government, Big Religion, Big Media, etc.)
    4) Get out, and/or stay out, of DEBT!
    5) USE CASH AS MUCH AS POSSIBLE. Avoid using credit, debit, and customer loyalty cards
    6) Bank at a local credit union!
    7) VOTE WITH YOUR DOLLARS! (What do you support, with your time, money, and energy?)
    8) Contact your Representatives on critical issues: Such as END THE FED!
    9) Re-read the 2nd Amendment to the U.S. Constitution. It isn’t about hunting.
    10)Buy (products) Made in U.S.A.
    11)Invest in precious metals, primarily SILVER (and gold).
    12)Buy ORGANIC food! Support your local Organic food store or Co-op!
    13)Start your own garden using NON-GMO, non-hybrid seeds!
    14)Pray or meditate – reduce your stress!
    15)Read a book, you know, an actual book! Open your mind!
    16)Exercise your brain muscle!
    17)Listen to soothing classical, jazz, ambient or other music you thoroughly enjoy!

    As for ORGANIC food companies, here is some very practical, ‘actionable’ information:

    Which, so-called “organic” food companies are fighting Prop 37 in California, to stop GMO-labeling, and which organic food companies are funding/supporting GMO-labeling (your right to know)?
    http://www.cornucopia.org/wp-content/uploads/2012/08/prop37-poster.jpeg

    Boycott the Organic and ‘Natural’ Traitor Brands Whose Parent Companies Oppose Your Right to Know
    http://www.organicconsumers.org/articles/article_26121.cfm

    Which Mega-Corporations own which “organic” food companies?
    https://www.msu.edu/~howardp/organicindustry.html

    Download the “NON-GMO Shopping Guide” here:
    http://gmo.mercola.com/sites/gmo/shopping-guide.aspx

    • http://www.infowars.com/ Anon Patriot

      SHARE THIS INFORMATION WITH EVERYONE YOU KNOW! Remember, it isn’t just about what you do NOT do – such as NOT buying products from so-called “organic” food companies, that contributed a combined $23 MILLION to fight Prop 37 in California, but also about what you actually DO – such as, SUPPORTING those NON-TRAITOROUS organic food companies, that donated money to SUPPORT PASSAGE OF PROP 37 IN CALIFORNIA. Just as some people may BOYCOTT MONSANTO, or WAL-MART, Coca-Cola, (De Beers, Exxon-Mobil, Adidas, Ford, GE, etc.), they should also consider pro-actively buying only organic products, and products Made in USA.

      Here’s another list to consider in terms of BOYCOTT: Corporate Sponsors of the Council on Foreign Relations http://www.cfr.org/about/corporate/roster.html

      • http://www.infowars.com/ Anon Patriot

        Below is advice from John Perkins’ book, entitled THE SECRET HISTORY OF THE AMERICAN
        EMPIRE (The Truth About Economic Hit Men, Jackals, And How To Change The World), pp.
        322-329:

        Quote:

        “AVOID SHOPPING AS ‘RETAIL THERAPY’ (Instead, jog, meditate, read, or find some other solution).
        SHOP CONSCIOUSLY – if there is something you must have, purchase items whose
        packaging, ingredients, and methods of production are sustainable and support life.
        MAKE EVERYTHING YOU OWN LAST AS LONG AS POSSIBLE
        PURCHASE AT CONSIGNMENT AND THRIFT STORES – where everything is recycled.
        Write letters telling Monsanto, De Beers, Exxon-Mobil, Adidas, Ford, GE, Coca-Cola, WAL-MART, and other labor exploiters and environment destroyers, why you refuse to purchase from them.
        CUT BACK ON OIL AND GAS CONSUMPTION!
        DOWNSIZE (your car, home, wardrobe) – everything in your life (and don’t buy what
        you don’t need)
        SUPPORT/SEND MONEY only to non-profits, radio stations, and other organizations that promote JUST causes.
        VOLUNTEER your time and energy to such organizations.
        SUPPORT LOCAL MERCHANTS (especially stores which sell organically-grown food)!
        ENCOURAGE stores to buy from local (organic) growers, producers, and suppliers.
        Shop at your LOCAL FARMERS’ MARKET
        AVOID DRINKING WATER THAT IS FLUORIDATED (only your toothpaste should have non-industrial fluoride)
        INSIST that those who use your money – banks, pensions, mutual funds, companies – make socially and environmentally responsible investments.” (end quote)

        RESEARCH EVERY COMPANY WHOSE PRODUCTS OR SERVICES YOU BUY!
        RESEARCH EVERY ORGANIZATION TO WHICH YOU DONATE YOUR HARD~EARNED MONEY!
        VOTE WITH YOUR DOLLARS!
        Watch FREEDOM TO FASCISM, a film by Aaron Russo; Also – ENDGAME, and TERRORSTORM two films by Alex Jones
        Top Ten GMO Foods to Avoid Eating:
        http://www.naturalnews.com/036063_GMOs_foods_infographics.html
        EXPAND THIS LIST AND SHARE IT WITH EVERYONE YOU KNOW!

    • Malcolm Reynolds

      *Cough* You first recommend BUY ORGANIC and then rant about organic. Awesome stuff.

  • http://www.booksbyoliver.com GreenLeaf

    Well, from the article and comments I am not alone in my lifestyle of having to do so much less than I once did a few years ago.

    Forget Walmart to go shopping. I am now down to DollarGeneral to do my grocery shopping. If they don’t have what I want then I do without. Another great article. Thanks.

    • CinnamonGirl

      forget dollar general….i now do most all my shopping at the Discount Grocery…the bent n dent…..buying salvage groceries and other household products.

  • Jodi

    This is referring to the “normalcy bias” definition. Yes, most people are like this…they go to a restaurant, they go shopping, they party at downtown bars, they go to home shows, car shows, watch stupid reality shows, movies and it seems pretty normal. I know people who have their head so far up their butt they think everything is fine. Keep drinking the kool-aid and everything seems fine until financial trouble comes and they will be the first to say “nobody told me so”.

    • Mondobeyondo

      Too many people have become victims of normalcy bias. Happens all the time. “MY house won’t burn down.” “It can’t happen to me.” “This has never happened here before.” And so on and so forth. I guess it’s just human nature, or maybe a desire to live in our own cozy comfort zone, where nothing bad ever happens. That’s not reality, though.

      A lot of people in New Orleans, on August 28, 2005, thought Hurricane Katrina was “just another storm”… they survived Betsy, and Camille, and Andrew, and that storm which blew Uncle Ed’s roof down the road and into the high school parking lot. Ride it out, have a hurricane party, etc. Unfortunately, Katrina had other plans in mind.

  • TMal

    Water rates where I lived went up 100% a year ago. Company that controls our water wants to do another 100% increase. State has okayed, we (residents) are fighting but I do not have a lot of hope since the state is okay with it. Meanwhile I have had pay cuts. Fortunate to still have a good job but that money has to come from somewhere. So I cut back on other stuff. Americas economy is consumer based. When all the consumers are cutting back due to the lousy economy it is like an aircraft spiraling in. Question is not if economy will crash question is when.

  • Julie Franz

    And the poor CEO of Procter and Gamble had to take a $900,000 pay cut. This is what is wrong with America. The rich have way to much.

  • http://www.survive2balive.com GA

    I’m fortunate in that instill have my job and it is a blessing. However, no raise in over 4 years, healthcare costs increased dramatically, food and gas prices through the roof. It is getting harder and harder to make ends meet. All extra revenue goes to preps but even the preparedness strategy has changed in order to fall within the budget. Glad I’m prepped though because things are going to get nasty.

  • uncurable wound

    Heres some NORMALCY BIAS for you!!!
    Black hawk helicopters running training ops in Minneapolis!!!!!
    No nothing to see here!
    No military ops!
    No Massive ammo purchases!
    No Massive stored food buys!
    No massive vehicle movements!-Michael you should see all the military vehicles moving on roads!!!
    Wake Up SHEEPLE!
    I saw the Helicopters with my own eyes,where there never was helicopters before.
    My EYES ARE OPEN!
    PREPARE PEOPLE!
    http://www.theblaze.com/stories/minneapolis-residents-catch-footage-of-black-hawks-conducting-urban-training-exercise/

    • Michael

      Some really strange things are going on.

      Thank you for posting that.

      Michael

      • http://msn.com thisonewilldo

        Yes, and it includes postings…

    • Mondobeyondo

      I’m off to Walmart.

  • bruce2288

    Globalization is leveling the standard of living through out the world. A good thing for a family in India, a bad thing for a family in the US. Trade restriction or tariffs could give some protection, but then it increases the cost of product the populous buys. Retalitory trade restrictions would hurt those industries that export. cutting gov regulations and restrictions on business would be helpful but again caution is needed. do we want chemical waste dumped in rivers, unsafe working conditions or exploited employees?

    Michael, you do a great job of spotlighting many of the problems with the economy. How about an article with some ideas for solutions? Defineing a problem is an important first step, but it is also the easiest step.

    • Michael

      Bruce:

      Sometimes I do talk about potential solutions, but I am convinced that we are not going to see any solutions on the national level in the United States.

      That is why it is so important to prepare on a family and a community level.

      Michael

      • bruce2288

        That is indeed the sad and scary reality I also fear. I see no political will nor demand from the majority of people to make the hard choices.

  • Washington

    We Don’t Need No Stinking Warrant: The Disturbing, Unchecked Rise of the Administrative Subpoena BY DAVID KRAVETS 08.28.12

    http://www.wired.com/threatlevel/2012/08/administrative-subpoenas/

  • Russ

    These two interesting and amazing prophecies were given long ago in Norway.

    JESUS IS COMING SOON (SUDDENLY)

    An old woman of 90 from Valdres in Norway had a vision from God in 1968. The evangelist Emanuel Minos had meetings
    (services) where she lived. He had the opportunity to meet her, and she told him what she had seen. He wrote it down, but thought it
    to be so unintelligible that he put it in a drawer. Now, almost 40 years later, he understands he has to share the vision with others.
    The woman from Valdres was a very alert, reliable, awake and credible Christian, with a good reputation among all who knew her.
    This is what she saw:
    “I saw the time just before the coming of Jesus and the outbreak of the Third World War. I saw the events with my natural eyes.
    I saw the world like a kind of a globe and saw Europe, land by land. I saw Scandinavia. I saw Norway. I saw certain things that
    would take place just before the return of Jesus, and just before the last calamity happens, a calamity the likes of which we have
    never before experienced.

    She mentioned four waves:

    1. “First before Jesus comes and before the Third World War breaks out there will be a ‘détente’ like we have never had before.
    There will be peace between the super powers in the east and the west, and there will be a long peace. (Remember, that this was in
    1968 when the cold war was at its highest. E. Minos) In this period of peace there will be disarmament in many countries, also in
    Norway and we are not prepared when it (the war) comes. The Third World War will begin in a way no one would have anticipated
    – and from an unexpected place.
    2. “A lukewarmness without parallel will take hold of the Christians, a falling away from true, living Christianity. Christians will not
    be open for penetrating preaching. They will not, like in earlier times, want to hear of sin and grace, law and gospel, repentance and
    restoration. There will come a substitute instead: prosperity (happiness) Christianity.
    “The important thing will be to have success, to be something; to have material things, things that God never promised us in this
    way. Churches and prayer houses will be emptier and emptier. Instead of the preaching we have been used to for generations -like,
    to take your cross up and follow Jesus, – entertainment, art and culture will invade the churches where there should have been
    gatherings for repentance and revival. This will increase markedly just before the return of Jesus.
    3. “There will be a moral disintegration that old Norway has never experienced the likes of. People will live together like married
    without being married. (I do not believe the concept ‘co-habitor’? existed in 1968 – E. Minos.) Much uncleanness before marriage,
    and much infidelity in marriage will become the natural (the common), and it will be justified from every angle. It will even enter
    Christian circles and we pet it – even sin against nature. Just before Jesus return there will be TV- programs like we have never
    experienced. (TV had just arrived in Norway in 1968. E. Minos)
    “TV will be filled with such horrible violence that it teaches people to murder and destroy each other, and it will be unsafe in our
    streets. People will copy what they see. There will not be only one ‘station’ on TV, it will be filled with ‘stations.’ (She did not know
    the word ‘channel’ which we use today. Therefore she called them stations. E. Minos.) TV will be just like the radio where we have
    many ‘stations,’ and it will be filled with violence. People will use it for entertainment. We will see terrible scenes of murder and
    destruction one of the other, and this will spread in society. Sex scenes will also be shown on the screen, the most intimate things
    that takes place in a marriage.” (I protested and said, we have a paragraph that forbids this kind of thing. E. Minos.) There the old
    woman said: “It will happen, and you will see it. All we have had before will be broken down, and the most indecent things will pass
    before our eyes.”
    4. “People from poor countries will stream to Europe. (In 1968 there was no such thing as immigration. E. Minos.) They will also
    come to Scandinavia – and Norway. There will be so many of them that people will begin to dislike them and become hard with
    them. They will be treated like the Jews before the Second World War. Then the full measure of our sins will have been reached (I
    protested at the issue of immigration. I did not understand it at the time. E. Minos.)
    The tears streamed from the old woman’s eyes down her cheeks. “I will not see it, but you will. Then suddenly, Jesus will come
    and the Third World War breaks out. It will be a short war.” (She saw it in the vision.)
    “All that I have seen of war before is only child’s play compared to this one, and it will be ended with a nuclear atom bomb. The
    air will be so polluted that one cannot draw one’s breath. It will cover several continents, America, Japan, Australia and the wealthy
    nations. The water will be ruined (contaminated?). We can no longer till the soil. The result will be that only a remnant will remain.
    The remnant in the wealthy countries will try to flee to the poor countries, but they will be as hard on us as we were on them.
    “I am so glad that I will not see it, but when the time draws near, you must take courage and tell this. I have received it from God,
    and nothing of it goes against what the Bible tells.
    “The one who has his sin forgiven and has Jesus as Savior and Lord, is safe.”

  • Debbie P

    How can I prepare for this collapse?

    • W. R. Flynn

      One can’t fully prepare for the economic disaster that’s coming at us. All one can do is get as physically fit as possible and study the issue inside and out. In the meantime, save up on bullion and core, basic essentials. Learn how to perform one or more of the pre-indistrial skills; farming (start with gardening), making clothing, cobbling, building with raw materials, bow-making, etc. Not everyone will see the other side.

    • Ascetik

      Food, Water, Silver, Guns/Bullets, but most of all trust in God.

    • Greg

      You can’t. You can prepare for short term survival. Finally when it becomes evident that we have had a system reset back to the stone age most people will kill themselves. The system is now in suicide mode and nothing can stop it. I do have one suggestion. Consider emigrating to a country that is used to fending for itself and is generally self sufficient. Life would be tough in these countries because they used to doing without and don’t over consume. Ironically the list would include the economic basket cases of the world. That should tell you something about economists and economics. Short term horizon thinking….It’s going to kill us all. Off the top of my head, a few South American and African countries, Cuba, possibly New Zealand. The absolute last places you want to be. USA, UK and Europe. Can I suggest you start packing now!

  • Washington

    Crop Insurance Losses From Drought Could Reach $20B By Jennifer BootonPublished August 28, 2012

    http://www.foxbusiness.com/economy/2012/08/28/crop-insurance-losses-could-hit-20b-air-worldwide-says/

  • SMASH THE CONTROL MACHINE

    THE ROT RUNS DEEP!!!!CHARLIE YOUR KICKIN MY ASS WITH TO MUCH WISDOM!!!REAL NAME CHARLES HUGH SMITH!!!http://www.oftwominds.com/blog.html

    The Rot Runs Deep 2: Don’t Call Out My Scam and I Won’t Call Out Yours

    August 28, 2012

    Complicity reigns supreme as everyone benefiting from a scam keeps quiet about everyone else’s skim lest their own share of the spoils fall under the harsh light of inquiry.
    The uncomfortable truth is that America has become a nation of skimmers and scammers. The rot runs deep not just in the upper reaches of the financial and political Elites, but in the bottom 99.5% as well.

    America can now be summarized by this phrase: “don’t call out my scam and I won’t call out yours.” In other words, all the skimmers and scammers have become complicit, not just in protecting their own scam from the light of day, but in protecting everyone else’s scams, too, lest those who lose their swag unmask someone else’s scam in revenge.

    Examples of skimming and scamming abound in finance and government. It’s almost tiresome to even list examples; fortunately for us, tireless truthseeker “George Washington” has amassed a list of bank fraud and malfeasance (reprinted by the equally indefatigable Barry Ritholtz).

    It’s easy to skewer the financial and political Elites’ abuses of power, but few look at all the rot below. The fraud and embezzlement-riddled mortgage market of the previous decade included not just investment bankers but non-Elite Americans who lied about their income, debt, and other material facts in order to obtain a fraudulent mortgage.

    Another “middle class” scam is practiced by public workers nearing retirement. (Please don’t claim this doesn’t happen, I have first-hand accounts from cousins with 30-year careers in fire and police departments.) Since the pensions are based on the top three years of pay, soon-to-retire workers pile up the overtime to amass much higher pay in their last years. Everyone involved helps make this happen because they expect to pull the same scam when their time comes.

    To sweeten the already enlarged pension pot, they then declare (with the seal of approval by a complicit doctor) that their work left them with a disability of some sort (a heart murmur is apparently a favorite excuse) that makes their pensions tax-free. (Millions of “the rest of us” also have heart murmurs. Where’s our tax-free pensions?)

    In the lower rungs of the social-financial order, claiming disability is high on the list of skims and scams, as evidenced by the astonishing rise in the number of suddenly disabled people once the 99 weeks of unemployment ran out. Food stamps can be applied for online, and despite bolded warnings of severe penalties for misstating facts, it’s safe to assume that “fudging the numbers” is unlikely to lead to any investigation or prosecution.

    The rot runs deep in every nook and cranny of the nation. Longtime correspondent Kevin K. recently submitted this telling account of blatant scamming. (PG&E is Pacific Gas & Electric, northern California’s utility.)

    Two weeks ago we stopped by to see the new home a childhood friend bought in an upscale neighborhood. As we were talking he proudly let me know that he was still on the PG&E CARE program (that cuts his PG&E bill in half). It turns out that a few years ago after taking some losses on investments he had a taxable income for the year of ~$25,000. Soon after filing he got a letter (at his ~$2 million home) about the CARE program. He filled it out with his actual 1040 income to see what would happen.
    To his surprise he was accepted into the program and his PG&E bills dropped in half (saving him over $1,000 a year). He said he was certain his savings would end when he called to transfer service to the ~$3 million home he just bought, but no one ever asked about his income and he is still in the CARE program. He said he has told a lot of people (that make a lot of money and live in $1mm + homes) about the program who have either lied about their income (there is no system to check) or put the PG&E account in the name of a nanny or cleaning lady to get in the program to save money.

    The justification for all this skimming and scamming is always the same: “everybody else is doing it.” As noted yesterday, self-service and self-justification are the ultimate American gods that we now worship, but nonetheless the moral disintegration reflected by this rationalization is still remarkable.

    There is another dynamic: desperation. Beneath the placid surface of the “recovery,” millions of people are desperate and feel that skimming, scamming and lying are their “only hope” to 1) keep what they have 2) gain much-desired upper-middle class perquisites or 3) keep body and soul together and not end up living in a cardboard box.

    These dynamics of moral rot and desperation have created a society in which the spirit of the law is blatantly violated but “all is well” as long as the letter of the law has only been scratched. We see this in every level of society, from legalist parser in chief Bill Clinton’s obtuse defense, to the classic phrase that the “dancing” (i.e. the fraud and embezzlement) goes on until the music stops, to the disability recipient who “does whatever it takes” to get free money for life.

    Expectations are impossibly high. It’s no longer enough for the Federal Reserve to issue a $1 trillion injection of financial cocaine to the stock market every year; now the market needs a $1 trillion injection every six months lest it crash.

    Parents want their children to join the top 10% and enjoy a security and wealth that is as illusory as the pathway they have been sold: if only you get into an Ivy League university, if only you get a 4.+ grade point average, if only you earn a law degree–yet none of these guarantee anything beyond an enormous expense and a shot at a roulette wheel with too many players and not enough winners.

    Rather than accept that the postwar boom based on cheap abundant oil, industrialization and globalization is over, and the financialization bubble of the past 30 years cannot be re-inflated, we continue to maintain unrealistic expectations of an economy with structural imbalances, rising friction and declining surpluses.

    It is no surprise that economic hardship leads to increases in crime and social unrest. The wave of instability resulting from economic decline has repeated throughout history, a process described by the seminal book The Great Wave: Price Revolutions and the Rhythm of History. In this sense, moral rot is to be expected as economic surpluses vanish and entire economies must live within means that have shriveled for structural reasons.

    Can an economy that has become dependent on lies, misrepresentation, “fudging” of numbers, fraud, embezzlement and a multitude of skimming and scamming operations escape the moral and financial black hole it has created? The self-evident answer is “no.” HELL NO!! THIS DUDE IS LIGHT IN A VERY DARK WORLD!!!TALK ABOUT THE SPARKS OF THE TEMPEST!!!Sparks Of The Tempest lyrics
    The sparks of the tempest rage a hundred years on
    The voice of the dreamer screams, the cause of the pawn
    The King and the Queen are gone, each piece is the same
    The difference between us is a part of the game
    Darkness is spreading like a spot on the sun
    The dead are the living in the age of the gun
    While everyone clamors for the justice they seek
    The world is corrupted and the strong take the weak
    They mold you and shape you, they watch what you do
    The sparks of the tempest are burnin’ you through
    Spreading like wildfire, fallin’ like rain
    Though they may promise, they only bring pain
    The future is managed, and your freedom’s a joke
    You don’t know the difference as you put on the yoke
    The less that you know the more you fall into place
    A cog in the wheel, there is no soul in your face
    Run for the cover, Millennium’s here
    Bearing the standard of confusion and fear
    Spreading like wildfire, fallin’ like rain
    Though they may promise, they only bring pain
    Blood in the sand, a cry in the street
    Now the cycle is nearly complete.
    Ten thousand years, and nothing was learned
    No turning back, now the wheel has turned
    Big Brother is watching and he likes what he sees
    A world for the taking, when he’s ready to squeeze
    The King and the Queen are gone, each piece is the same
    The difference between us is a part of the game
    Soothsayer saying now tell me no lies
    What is this madness that is filling the skies
    Spreading like wildfire, fallin’ like rain
    Though they may promise, they only bring pain!!!! NOW WE ARE ROCKIN IN KANSAS WITH KANSAS!!http://www.youtube.com/watch?v=cnijc9wNpV4

    • Gay Veteran

      Charles Hugh Smith is a great writer, everyone should be reading him and Paul Craig Roberts

    • http://msn.com thisonewilldo

      My, oh my. Michael, I think your readership will reach 16 trillion after people read this person’s comment!
      Stcm SING IT BABY!!!

      • http://msn.com thisonewilldo

        NOT! GAY VETERAN’S!!!

        • http://msn.com thisonewilldo

          And might I say nice of you

          GAY VETERAN

          TO BUTT IN!!!

          SHOVE OFF YOU COWARDLY

          COMPUTER!

          • Gay Veteran

            didn’t your mother teach you any manners?

          • http://msn.com thisonewilldo

            No, not when it comes to computer responses like you.
            Oh, oh, you didn’t know that the computer responses to comment they don’t like?
            Well, it sucks to be a binarydigit like you.

      • SMASH THE CONTROL MACHINE

        STCM, Space-Time Coded Modulation.

  • Doctor Blue

    Well when you got IT you spend it. I lived in a nice 4 bedroom home in Calif. with a pool & spa, drove new cars etc. A beautiful wife, beautiful kids, beautiful home but it’s all gone now, even the kids don’t want to have anything to do with me any more. It’s all gone now buddy. I drive an old 1976 chevy pick up with NO air conditioning and 112 degrees here a few weeks ago. Yah buddy things have changed. And it don’t matter who you vote for they all are going to run us over the financial cliff into the meat grinder, it don’t matter who wins Obama or Romney it’s still gonna be the same ole S__T.
    That’s what the American people get is the S__T…..
    I am gonna vote for Ron Paul EVEN IF I have to write his name on the ballot… I am tired of being used and screwed by politicians, it’s time for us to do some screwing ourselves!!!
    Ron Paul will end the FED, put them criminals out of business and stop them from stealing from us, the American people. He will fire about half the people in Washington, close the dept. of Transportation, close the Education Dept. and several other bloated government departments. Change out tax laws and then FIRE the IRS too…

    • Delilah

      Thank you for sharing your story. You are the perfect example of the death of the middle class or upper middle class and how the 1% super rich oligarchs or plutocrats or the too big to fail banksters have literally destroyed this nation. I’m not sure if you were/are familiar with Bob Chapman and his newsletter, “The International Forecaster” but I very highly recommend it. I have been a subscriber for 3 yrs and it literally has changed my life.

    • http://msn.com thisonewilldo

      Doc, does this mean that you’re not going to treat the New World (Dis) Order for their minor aches and pains? In between golfing and vacations?
      GOOD!

      WELCOME BACK to the 99%!

      • http://msn.com thisonewilldo

        This WORLD needs YOU!

  • Piglet

    Given the rampant corruption with the Camden PD, shown here

    http://www.lewrockwell.com/grigg/grigg-w192.html

    a disbanded city PD is not necessarily a bad thing. Excerpt: “This is because the Camden Police Department – which recently laid off 167 of its 360 officers – has long been a major source of crime, rather than a deterrent to the same.”

  • bobbobbob

    well i guess u illerates r voting 4 romknee

  • Rufus T Firefly

    These losers have plenty of nothing and nothing is plenty for them. z

  • John Jackson

    The credit bubble is collapsing. Only a few will come out the other side with their assets protected and in a position to prosper…

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=e6b01db8

  • Greg

    As a kid living overseas I grew up dreaming of living in America. Now 30 years later if you asked me to choose between Cuba or the US I would choose Cuba. I now lived in country where earning a $100K (US equivalent a year) you are regarded as a low income worker. There is so much wrong with the system I don’t know where to begin. What you have is a system with the same ideology as a cancer. Growth for the sake of growth. I don’t believe this is a financial crisis. Put it another way. I believe that it is a shallow analysis of a very serious systemic problem. The capitalist greed profit at all costs model is based on some very flawed fundamentals. We are taught since birth that profit=good. The problem with this nonsensical economic thinking is that it’s a short term horizon when we should be asking the long term questions. Is it good in the long run. Is it good for the planet. If you don’t ask these questions the long term horizon will mow you down and it is. Once the fundamentals of the capitalist short term profit suicide model cannot be achieved it falls apart. The model looks something like this. Infinite growth with finite resources to sustain unsustainable populations. It’s incomprehensible to me that adults cannot see a problem that a 10 year old could spot a mile off. If this was just about fiat currency there would be no problem. Ultimately currency is just paper. It’s about the fact that we are running out of everything and as populations grow we are running out of everything much faster. Bad news friends. This story doesn’t have a happy ending. We are heading for a cliff in a car with no breaks, no safety belts and no air bags. It’s ironic that as we rush headlong into the digital ere we should instead be going to back to the pre-electrcial mechanical era. We have forgotten so much that I believe we won’t be heading back to medieval times. We heading back to the stone age. Not many people will cope with that. Being a doomsday prepper is kinda of idiotic if the status quo is permanent. I think we are heading for the biggest mass suicides in human history.

  • NorthernCanuck

    OOOPS! Is the air leaving the airship…?

    “Stock Market Crash 2013: What The “Hindenberg Omen” Tells Us

    Written By Don Miller From Money Morning,
    August 7th, 2012

    Don Miller: Should you be worried about a stock market crash in 2013… or even sooner? Certainly, there’s plenty of unsettling news to worry about. You know what I’m talking about…the persistent Eurozone debt crisis, Taxmageddon, the fiscal cliff, high unemployment.

    The list goes on and on.

    But now, there’s one more reason to fasten your seat belt.

    On the heels of a sharp stock market decline on July 24, a highly accurate technical indicator called the “Hindenburg Omen” started ringing warning bells.

    Ever since it was discovered, this ominous-sounding signal has proven remarkably accurate in gauging the stock market’s relative strength or weakness.

    In fact, the Hindenburg Omen has nailed every New York Stock Exchange (NYSE) crash since 1985.

  • NorthernCanuck

    Not big on old-fashioned “airship” crash predictors? Fair enough.

    But are you going to argue with Mars and Uranus when they lead the whole damn solar system in flasing a warning to Earth that “the party’s over and your stock market is the next mass extinction event”?

    Here’s the latest solar system/sunspot scoop on this:

    “Planets Align for Stock Market Crash

    By: Money_Morning
    Stock-Markets / Financial Crash
    July 31, 2012

    David Zeiler writes: Of all the tools one might use to predict a stock market crash in 2013, planetary alignments and solar particles are not, for most people, the first options that spring to mind.

    But market analyst Arch Crawford has applied his arcane “astro indicators” for 35 years with surprising success.

    You see, Crawford has forecast market crashes before. His astro indicators helped him predict the stock market crash of 1987, as well as the crash following the 9/11 attacks and the crash of 2008.

    Now Crawford is speaking up as something just hit his radar again.

    One of Crawford’s most reliable indicators crossed a threshold on July 18. That means he sees another major stock market crash hitting at some point between now and March 2013.

    “Between 18th of July and the end of February [2013], I believe the markets worldwide will crash,” Crawford told GoldSeek Radio last week. “And that’s because that if any one of them falls, it’s going to take a bunch of others into a black hole.”

  • Yasir

    I have a question for you, Michael.
    I have been hearing the news for quite a long time now that America has always been known for its manufacturing capabilities and U.S economy was booming because of its humongous export business all over the world,But now the condition is bad because all the manufacturing facilities have moved to China,India or Mexico. There is huge trade deficit. Millions of jobs lost in the last recession and lots more. If this is the case then how the American GDP is constantly increasing after 2000 even after so much problems with a slight dip in 2008-2009..????
    Is it Possible.
    Please throw some light on it.

    Regards:-
    Yasir

    • Michael

      Yasir:

      When the money supply is constantly increasing you can have more dollars circulating in the economy even though economic activity is actually slowing down.

      Michael

      • Yasir

        Thanks for your reply Michael.
        You mean to say GDP is getting bigger & bigger just because the FEDS are printing trillions of dollars.
        I think Growth refers to increase in the country’s capacity to produce the
        output of goods and services within the country. It implies either a
        larger stock of productive capital, or a larger size of supporting
        services like transport and banking, or an increase in the
        efficiency of productive capital and services.
        The GDP is the market value of all the goods and services produced in the
        country during a year.
        If the U.S is not producing goods and services,how come the GDP is growing
        with a non-linear curve.

        Regards:-
        Yasir

        • Mondobeyondo

          Our GDP is tied to debt.
          We are going into debt to finance our standard of living.
          That is why the U.S. debt is nearly $16 trillion.

        • http://msn.com thisonewilldo

          Look, dude, it means whatever the New World (Dis) Order wants it to be.
          Logic, intellect, good luck.
          The GAME IS RIGGED!
          TPTB have driven the GAME TO THE END!
          THIER END!
          By the time you’ve taken your time to figure it out the GAMES OVER!
          GET IT?

          • http://msn.com thisonewilldo

            That’s why Michael screams (sorry poetic license) to

            PREPARE!!! PREPARE!!! BRACE FOR THE LANDING!!!

  • Washington

    Romney’s “RNC Power Grab”: What Really Happened By Dean Clancy on August 29, 2012

    http://www.freedomworks.org/blog/dean-clancy/romneys-rnc-power-grab-what-happened

    • http://msn.com thisonewilldo

      Let THEM grab the private parts
      just like HMJthe Prince
      HAIRY did when HE was alledging stipping and goofing off!) Gotta LOVE the COMPUTERS that WRITE OUR NEWS!!!
      The Powers WILL NOT TO and NEVER WILL BE WINNERS! THE PEOPLE WILL WIN! GUARANTEED!
      The Titanic is going DOWN!
      Should you and I care about decorum?
      f-that! New World (Dis) Order YOU ARE GOING DOWN! MILLIONS OF US ARE AWAKE! AND AWARE OF YOUR GAME!!! NICE TRY!
      BUT THE AMERICAN CONSCIOUS IS GOING TO
      SERVE YOU
      DINNER!!! PEEPS! G-UNIT! W-UNIT! LE-UNIT!
      WE WILL REVOLT! SAVE YOUR AMMO FOR THE
      REAL ENEMY!
      PREPARE! THERE’S AN ENEMY TO FIGHT AND IT IS NOT YOUR FELLOW MAN!
      APARTHEID! CAPISHE?
      WAIT! UNTIL THEY HAVE PLAYED THEIR LAST CARD!
      AND THEN IT’S FIGHT UNTIL THE BITTER END!
      —-

  • SMASH THE CONTROL MACHINE

    THE FISH ARE DYING FROM BEER WTF???Beer Spill Kills Thousands of Fish???????http://abcnews.go.com/US/story?id=96022&page=1#.UD6UPsGPUbA

  • GSOB

    Michael

    I love your site and the regulars that I have counted on, anticipating them to participate in blogging here. I have been bloggin on your site for a several months now and have witnessed many fascinating articles and interesting opinions in response to them. I have learned some things new and have filled out a broader understanding of what I already knew.
    I’ve seen the entire gamit of comments to your posts and really appreciate your handling of them.

    We live in a incredibly complex world and the consensus here, I find, is satisfying in many ways… like being able to somewhat vent, share deep concerns and, most importantly – become more informed of and armed with the truth about the cold harsh realities of our existance.
    Call it reality blogging, … sort of speak.

    I hope to continue participating by commenting here with them,… and though I may never meet these regulars or you, Michael…. i.e.., Gary2, Ian, Gay Veteran, from Rodster to A.S., and many, many others,, nevertheless…
    I’ve grown fond of all you folks and hope that it continues ..

    May the Lord continue to bless me in this way.

    Thanks to you all folks.

    • Michael

      GSOB:

      Thank you for saying all that. I have always enjoyed reading your comments. People may not realize this, but I see every single comment that gets left. I can’t respond to every single one due to time limitations, but I am always interested to see how regular commenters like yourself respond to the articles.

      Michael

  • mensa141

    I am retired now. Working through the 70’s, 80’s and 90’s I generally had a defined pension, in the mid 70’s a savings plan also emerged (not 401K yet) where the company matched a percentage and health insurance was part of the wages. I rose within the lower ranks but even my starting grade received pay raises in line with inflation. The dot com bust came in 2000 and since then the economy has been held hostage by what I call the New World Order people. Both parties bent on bringing our salaries in line with Chinese labor costs. Since Nafta they have been chipping away at the American worker. Both parties have been culpable. Don’t know the answer but feel sorry for this generation. Worse for the next. Obama isn’t the answer as he is trying harder for different reasons to “get even” with Americans for something he never experienced. May be the best avenue for younger generations is to join up with the Taxed Enough Already (TEA) to combat government that is selling you down the river.

    • orange

      Oh NAFTA. I will never forget NAFTA and Ross Perot’s valiant fight to bring it to the attention of the American people. I was 10 and I made my grandmother vote Perot because I knew it was a horrible idea (but I was always a super political nerd lol). To this day, I STILL cannot understand how the American people allowed it to happen, why they didn’t riot in the streets, why they aren’t rioting now. The answer is Ron Paul, but people aren’t listening, just like they didn’t listen back in ’92. What can we do? I try and talk to people about it but they just think I’m a crazy person…and perhaps I am, but I don’t want to live in a Third World country and I don’t think anyone does. This is going to end very badly, yet people have their heads stuck in the sand and refuse to see. I’m sick of being “that person” but I cannot understand why people don’t care! THIS IS YOUR LIVELIHOOD, YOUR LIFE, YOUR FUTURE….but nobody cares. Can someone please explain it to me?

  • Mendoza

    All the more reason for Tallahassee to tell the tyrants in Washington to take a hike!

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