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Millions Of Unemployed Americans Now Live As Paupers Even As Foreign Nations Use Sovereign Wealth Funds To Buy Up Huge Chunks Of American Infrastructure

Most Americans still do not understand just how bad the economic horror we are facing really is.  Today, millions of Americans are living as paupers in the land that their foreathers built even as America's infrastructure is literally being sold out from under their feet by corrupt politicians.  The "official" unemployment rate in the United States has been at nine and a half percent or above for 14 consecutive months, and today it takes the average unemployed American about 35 weeks to find a job.  However, the "official" unemployment rate is misleading, because it does not include workers that have quit looking for work or that have had their hours cut back to part-time.  According to 60 Minutes, when you add those "discouraged workers" and "underemployed workers" into the equation the actual rate is about 17 percent, and in the state of California the actual rate is about 22 percent.  Meanwhile, foreign nations are using sovereign wealth funds to buy up staggering amounts of U.S. infrastructure.  America is quite literally for sale in 2010.  All across the United States, highways, ports, toll roads and even parking meters are being gobbled up by foreign powers.  We have shipped massive amounts of wealth and jobs to other nations, and now those very same countries are turning around and buying huge amounts of U.S. infrastructure with the gigantic piles of dollars that they have accumulated.    

Widespread long-term chronic unemployment was something that America was never supposed to see again.  Our leaders promised us that the U.S. financial system was so strong that we would never have another "Great Depression" in our lifetimes.  But then the financial crisis of 2008 happened.  Unprecedented numbers of Americans started losing their jobs and the U.S. Congress did something that it had never done before.  Congress decided to extend unemployment benefits all the way out to 99 weeks.

Doing that has cost U.S. taxpayers approximately $100 billion dollars to this point, but we were promised that it was a "temporary" fix and that it would give displaced U.S. workers a chance to find new jobs. 

Surely any industrious American worker could get another job within 99 weeks, right?

Wrong.

Today, there are at least 1.5 milion "99ers" - those Americans that have completely exhausted all 99 weeks of unemployment benefits and that still do not have jobs. 

Sadly, as bad as that number sounds, it is likely to keep growing.  Today, over one-third of all unemployed Americans have already been unemployed for at least one year.  If this trend continues, we are going to end up with millions of "99ers".

60 Minutes recently did a report on some of these "99ers".  Many of them are very highly educated and very highly qualified.  If you have not seen this 60 Minutes report yet, you have got to take few minutes to sit down and watch it.  This video is so shocking that many of you will have your jaws on the floor by the time you finish watching it....  

http://www.youtube.com/watch?feature=player_embedded&v=CwpdGyIY2fQ

So is there much reason for these "99ers" to be optimistic?

No, not really.

In fact, there are some indications that unemployment in America is actually getting worse.  Gallup's measure of unemployment, which is not adjusted for "seasonal factors", exhibited a sharp increase in the month of September.  According to Gallup, unemployment has increased from 8.9% in July to 9.3% in August and to 10.1% in September.

In addition, the seasonally-adjusted "Alternate Unemployment Rate" compiled by Shadow Government Statistics also indicates that unemployment in the U.S. is going up once again.  The Alternate Unemployment Rate calculated by SGS reflects estimated "long-term discouraged workers", which the U.S. government stopped keeping track of back in 1994....

But it is not just the massive number of Americans that are completely unemployed that we need to be concerned about.  The truth is that more Americans than at any other time in recent history are working part-time jobs because that is all they can find.  The number of Americans working part-time jobs "for economic reasons" is now the highest it has been in at least five decades.

Meanwhile, sovereign wealth funds from nations such as Saudi Arabia, China, Kuwait, Libya, Singapore and the United Arab Emirates are buying up highways, ports, toll roads and even parking meters from coast to coast.

So exactly what is a sovereign wealth fund?

Well, just think of it as a huge mountain of state-owned money that roams about the countryside looking for assets to gobble up.

In a recent piece for Rolling Stone, Matt Taibbi described some of the U.S. infrastructure assets that these sovereign wealth funds are buying up....

A toll highway in Indiana. The Chicago Skyway. A stretch of highway in Florida. Parking meters in Nashville, Pittsburgh, Los Angeles, and other cities. A port in Virginia. And a whole bevy of Californian public infrastructure projects, all either already leased or set to be leased for fifty or seventy-five years or more in exchange for one-off lump sum payments of a few billion bucks at best, usually just to help patch a hole or two in a single budget year.

It turns out that U.S. politicians have figured out that they can help solve their budget problems by selling off or leasing out pieces of infrastructure.  Foreign nations with money to burn have been glad to come in and start buying a lot of this infrastructure up.  Today, it is estimated that the rest of the world currently owns several trillion dollars more of America than America owns of the rest of the world.  Later on in his article, Taibbi noted that the trend toward selling off pieces of infrastructure only seems to be accelerating....

At this writing Nashville and Pittsburgh are speeding ahead with their own parking meter deals, as is L.A. New York has considered it, and the city of Miami just announced its own plans for a leasing deal. There are now highways, airports, parking garages, toll roads — almost everything you can think of that isn't nailed down and some things that are — for sale, to bidders unknown, around the world.

Sadly, both the number and the value of major acquisitions made by sovereign wealth funds approximately doubled during the first half of 2010.

Instead of being the "land of the free", we are rapidly becoming the "land that has been leased out to foreign nations".

So where in the world did these sovereign wealth funds get all this money?

Well, they got it from us of course.

Every single month, the United States buys massive amounts of oil from the Middle East and massive amounts of cheap plastic crap from China.  The rest of the world buys a bunch of stuff from us too, but not nearly as much as we buy from the rest of the world.

So every single month tens of billions of dollars that used to belong to the American people ends up in the hands of foreigners.  Now some of that money is returning to this country and is being used to buy up our infrastructure.

Many of these highways and toll roads that are being sold off had already been completely paid for.  Can you imagine the frustration of the taxpayers in many of these areas when they realize that a road that they have already completely paid for with their tax dollars has been sold out from underneath them?

Another place that all these U.S. dollars held by foreigners is going is into U.S. Treasuries.  In fact, the federal government very much encourages this.  After all, we have to finance our exploding debt somehow. 

In essence, first we made some folks in the Middle East and in Asia incredibly wealthy, and now we are asking them to please lend that money back to us so that we can continue living far beyond our means.

Today, the national debt of the United States is rapidly approaching 14 trillion dollars.  An increasing percentage of this debt is owned by foreigners.

The borrower is the servant of the lender, and we are rapidly becoming enslaved to the rest of the world.

This is national economic suicide, but our politicians have become so addicted to debt that there doesn't seem to be much hope that things can be turned around any time soon.

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  • Kurly

    Sounds like “Game Over” for the USA….

  • Tom

    Republicans want to privatize everything. They will sell our roads, parking, buildings to foreign interests to pay for tax cuts to the rich. Republicans are selling your country. Take it back.

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

    Our National Debt is actually over $200 trillion http://www.planorperish.com/?p=1865

    The United States Federal Government continues to operate by borrowing money that will never be repaid. In the private sector, this is viewed as stealing. Politicians, however, attempt to redefine morality by asking God to bless America on national television.

  • Gary

    This republican great recession was caused by stagnating wages over the years as the rich have stolen our productivity increases and not raised wages. They need to be heavily taxed and the wealth spread around. This way people could maintain their standard of living. It is in the rich peoples self interest as one of the posters says they live in fear in other banana republics behind gated communities and have bodyguards to prevent kidnapping. I for one will not sit by and let my family starve period.

  • Jackson

    The government should get rid of the minimum wage law, it would provide jobs for a lot of the unemployed. By providing unemployment there are a lot of people out there that will wait till their unemployment expires before looking for a job because they are getting a free check every month.

  • Johnson

    “Today, there are at least 1.5 milion “99ers” – those Americans that have completely exhausted all 99 weeks of unemployment benefits and that still do not have jobs.”
    *******
    And no one seems to have a plan as to what to do for ever increasing number of out of work 99′ers, many of whom are older folks and already at a disadvantage in the job market. Help from government agencies or non-profit orgs tends to focus on vocational training for the young or basic business training for former blue-collar workers.

    There is no real help for educated white-collar workers. You are given the same old advice over and over – volunteer somewhere, network, network, network and basically, pray to whatever gods you believe in. But if you have been out of work for a significant period, you likely have no network left. You go to network events but everyone else is looking for someone who has a contact for them also!

    When private industry is unable to or refuses to hire, the government has to step in. But after 20 months, the Congressional Dem majority and the apparently emasculated Obama administration have proven themselves incapable of addressing the problem of jobs for the long-term unemployed. If you are a 99′er, once your 99 weeks runs out, you are on your own and SOL.

    We’ve been left to hang out and dry, many probably never to work again. Those of us that don’t kill ourselves and don’t have family to turn to when we get evicted will wind up living in tent cities and pushing shopping carts while begging for spare change. Please be charitable.

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

    If foreign nations are buying our infrastructure with their sovereign wealth funds, THEY ARE BUYING JUNK.

    http://www.planorperish.com/?p=1878

    New

  • http://www.suburban-self-reliance.com Jerry

    The people in the 60 Minutes video:

    Wah.

    These yuppies (and their kids, pictured) had everything that I didn’t have as of age 11: Parents, a home of their own, etc.

    Me: Abusive foster care until I joined the Army at age 17. I’ve been an economic survivalist ever since.

    I actually enjoyed watching the hardship. I’ve spent my life not trusting anyone, or any institution, while saving my entire life, good times or bad. Meanwhile, these yuppies are turning third world.

    I LOVE IT!!!!!!

    “I don’t know what I’m going to do…Wah” I’ve got an idea: How about getting the hell out of the SF Bay Area for starters, one of the highest-cost areas of the country.

    In 2007, I had enough of my own predictive indications to pull all of my investments (taking the tax hit, of course), and paying off the house, going into economic bunker mode.

    Sucks to be them. Silicon Valley. “HAH HAH” (as in that big kid from “The Simpsons”

  • whoisbiggles

    Gary I once read that at the start of the 19th Century the 10 wealthiest individuals could individually pay the US government debt from their own wealth. I think Andrew Carnegie even offered to do so. (My recollection may not be correct, so I won’t be offended if I am rebutted). I doubt if the top 1000 individuals combined could do this today.

    While the FED keeps printing more and more dollars the debt that Sovereign Wealth Funds (SWF) holds becomes worth less and less. So if they are smart they will buy tangible assets and dump the paper money that continues to lose value.

    I don’t know that a SWF will be too happy to be employing whinging and overindulged Americans – I guess they figure it’s the best way out of a losing proposition.

    America, like most of the West has some hard decisions ahead of it:

    Do you really want to pay for 11 aircraft carrier groups roaming the sea?
    Do you really want to pay for the creation of a stable government in Iraq and Afghanistan?
    Do you really want to pay for and take part in a possible war with Iran?
    Do you really want to keep paying for the “Wars on Everything”?
    Do you really want to pay for all those overseas bases?
    Do you really think you can afford “Obamacare”
    Are you ready to face up to a massive reduction in Government assistance and programs?

    In the end our Governments have lied, they won’t be able to keep their promises to the public. The great Ponzi scheme is coming to an end.

  • http://www.allthatisnecessary.com jjmurphy

    Blaming all this on just the republicans is ludicrous. Personally I think the democrats and liberals deserve 90% of the blame for the financial condition of the country and its citizens. The republicans, however, were only too happy to go along for the ride.

    Do not think for a second voting democrat will solve the problem. You have seen what Democrat control of the Congress since 2007 and the White House since 2009 have done. How could you possibly think Democrats will fix things?!?!

    I would say the true enemy is the Ruling Elite in D.C. and State capitals that will do anything to remain in power. They are made up of both democrats and republicans. Drastically smaller, less-powerful government and term limits are the long-term answers.

  • http://moneyedpoliticians.net Jack E Lohman

    These foreign nations and companies are using American dollars to buy America’s assets, because our corrupt politicians took campaign bribes to open the gates to fraud. Only public funding of campaigns will stop the flow.

    Jack Lohman …
    http://MoneyedPoliticians.net

  • Maria

    “Most Americans still do not understand just how bad the economic horror we are facing really is.”

    B.I.N.G.O.

    The selling and leasing of American soil is going on in a world completely off the radar of John Q. Public. And the bosses want it that way.

    And who are the bosses? They are the people all politicians serve.

    In the end, the bosses want to own everything.

    The only thing you own is your soul.

  • Steve

    Does this country want real change? I have an idea. “We The People” must force our representatives to repeal National Bankers Act 1865 and the Federal Reserve Act. This will eliminate the IRS and put the printing of “money” back into the control of Congress. You see in the constitution, Congress has the power to print money tax free to “We The People”.
    When this is done, our country will begin to get back to the country we all inherited from our founding fathers. This country and “We The People” will begin to become prosperous and truly free from enslavement. This is the country I want to live in.

  • john w

    I want to say that I always enjoy this site, although I am not sure that “enjoy” is the right word.
    The information provided here is great, but the replies are a bit strange. We really have a problem, but so many of the replies are just people complaining, quarreling, or trying to be clever.
    Most of our problems today are here because people were just sleepwalking – living unsustainable life styles, ignoring what politicians and financiers were doing, living like there was no tomorrow.
    A suggestion – this is a great site – is it possible to start are link/part of the site that focuses on concrete things we can all start doing to prevent a collapse. I don’t mean survival stuff but a site on practical ways to circumvent newly arising problems and to influence political/financial policy at regional/state/national levels.
    The person who writes this blog does good work – is there somebody out there with the skills to start a sister-site on taking the country back. I don’t mean Tea Party stuff (no offense intended) but practical nuts and bolts research and recommendations on what we can start doing before it is too late.

  • john w

    Just a note to clarify my last reply. This site does a good job of researching facts and then defining what the problem is. Are there people out there with the political/legal/business/research savvy to start helping us get involved with ways to start changint the country now. We need a huge political movement based on getting a few crucial things changed. If literally 10s of millions of people were in the streets for very specific well-targeted issues, change would happen. If literally millions of people were on their senators/representative every single day, things would change. We need to get active – massive nationwide boycotts of companies that send all their jobs overseas, massive action against those banks and mortgage lenders that have been effing people about. Lets not just be a bunch of Glen Becks and Jon Stewart – lets really try to change things.

  • Chris

    Jim Sinclair put it best—”Rise of East, Fall of West”.

  • John

    What is happening to this country is ashame. We went from a bunch of workers, inventors to what desk jobs, and doing each others laundry. Ugh, just sad to see

    http://www.dailyjobcuts.com

  • sharonsj

    Listen, if Americans didn’t riot when the Supreme Court chose our president, then I don’t hold out much hope for a revolution now. Especially when so many people are just ignorant and prefer to stay that way.

    If you are more concerned with abortion, gay marriage, the president’s birth certificate, and socialism, then you are a dupe. I realized the snowjob when I was legitimately concerned about (1) being unable to afford health insurance and (2) freezing to death in the winter due to no furnace and no money to fix it. My state rep said she was “working on health care” which turned out to be a euphemism for “don’t bother me.” And no gov’t agency could help me with the heating problem because my income of $12,000 a year made me “too rich.”

    Now you’ve got millions of desperate people out of work or just poor. Food stamps and unemployment benefits keep folks from starving but also from standing in bread lines. Can’t have visible proof of how terrible things really are. And the mainstream media, which is corporate controlled, won’t tell the truth either.

    What will it take for us to realize we are totally screwed?

  • Michael

    At this point, I am not ashamed to say I am still unemployed….after 99 weeks. I was once a public accountant, earning close to six figured just 8 years out from school. Everything was on cruise control right until all the bailouts. Then clients cut back and the rounds of layoffs started.

    When I was applying to jobs pre-depression, I would get dozens of calls for interviews…dozens!!! Now when I put out my resume, I don’t even get the courtesy of a “thanks, but no thanks.” To think I went into accounting for job security…oh the irony. Well, I tell you what…every banker can kiss my arse, I’ll never pay them a dime in student loans back. As the prospects continue to be nonexistant, the longer you are unemployed, the less a company wants you, further setting you back. The only people that can actually get a job, are those with a job. HR just chucks the unemployed resumes into the garbage.

  • http://brunolem.wordpress.com Brunolem

    @John W
    I wouldn’t expect any reaction from the populace, now matter how deep in doodoo the US may dive.
    The reason?
    Simple: Panem et circenses, or their modern equivalent: pizza and TV!
    Americans are overfed and brainwashed. Such people don’t take the streets.

    I can imagine only 2 scenarios for the future of America and none of them is a Japanese like scenario.
    Either the US will follow the steps of the Roman Empire, in a process of decline already well advanced, or it will react…militarily.
    As a matter of fact, despite being broke, the US still controls what is by far the most powerful army in the world.
    On the ground, this army is not worth much. It can’t beat anyone.
    But from the air, or the sea, with the only aim of destroying, it can wipe any country out from the face of the earth, in a matter of days.

    Why would it do that?
    Because, ultimately, this is the only solution if one wants to turn the tables.
    The US has to wipe its slate clean and its biggest mistake is certainly China.
    Without the US, China would be nothing. American greed has built China, only to serve the interests of a few top executives, celebrated heroes such as Apple’s or Nike’s CEOs.
    And only American military power can erase (this is the word) this huge mistake.
    As I use to say: just wait and see…

  • de Malfosse

    re : John W.

    Here is the 1st thing Americans should do: Stop feeding their children into the war machine. And this includes urging women to avoid the ‘Victory Girl’ trap.

  • Mr Carpenter

    John W, I agree it would be a great idea. The think I have to tell you is that I personally have been talking to people about all of this for quite literally, 30 years. I’ve not even convinced one single person to change their mind about voting for either the Demoncrats or Repugnicans.

    I’ve concluded that what my young teen son told me some 12 years ago applies to the entire human race. “Dad, don’t tell me – I have to find out the hard way.”

    So be it.

    Thing is? Looking at history? We humans don’t seem to learn for very long and keep repeating the same stupidities.

    Little wonder the creator of the universe refers to us as Sheep in His Holy Bible. (Sheep being some of the dumbest animals on planet earth…)

    And yet God still loves us and wants relationship with us. Interestingly enough, only a minority of people seem to believe that, as well.

    Have fun from oh, about 8-11 November, everyone.

  • Richard

    You have that right, plus you CAN’T volunteer to work for free if you are on Welfare or Unemployment…..

    Welfare Back to Work programs mean just that you sit 35 hours a week banging your head against the wall begging for a paying job, and when “internships” are offered which will make your resume look up to date, its against the rules to take it and still collect.
    ——
    There is no real help for educated white-collar workers. You are given the same old advice over and over – volunteer somewhere, network, network, network and basically, pray to whatever gods you believe in.

  • Richard

    ‘‘Great nations are simply the operating fronts of behind-the-scenes, vastly ambitious individuals who have become so effectively powerful because of their ability to remain invisible while operating behind the national scenery.’’
    -Buckminster Fuller

  • Mike

    Republicans in Arizona sold the state builings and everything. Now they rent to make a tidy profit for the rich. Even the prisons are private. Those same prisons donate to republican candidates that support long prison sentences. The rich and ignorant “conservatives” sold us out.

  • Bob

    Jackson, YOU are a fool. Do not worry. You will get yours.

  • JAN

    I seem to remember that the Japanese did much the same thing in the 80′s and then lost their butts when property prices collapsed. Always be wary of investing in a foreign country that is dead broke and desperate as there are no guarantees that you will ever see any return.

  • GoatLady

    John W, You have the right idea; your timing is off. It’s too late. Concentrate on your own “survival”, now.

  • http://thecivillibertarian.blogspot.com/ Something Wicked This Way Comes

    I totally agree with Jerry. Not surprised to see this 60 minutes piece filmed in California. Home to some of the biggest snobs and pansies in America. Did you catch the soundbyte from the gal whining because she lost her motorhome? Or what’s his name talking about how people had to change rich lifestyles?

    We are the most ungrateful, spoiled nation on the planet. The best part is…this is just beginning.

    We have become a nation of whiners. We accepted the premise that we were entitled to all of the wealth. That we deserved this. Outside the confines of our insecure borders the real world struggles mightily. Dirt floors, sickness, hunger, and death. But then to gain that perspective means you have to abandon the only reality that you have. That you are somehow special when in fact, all that you have done is gotten lucky to be born here and not there.

    We desperately need this pain. And more of it. Maybe the things that matter will matter again. Love, unity, respect, helping others, civility instead of ego driven maniacs thinking that porsches, mansions, and toys are all that matter.

  • http://www.sdbankrupt.com Kathryn

    and by the way ladies and gents… the student loan balances now at $830 BILLION have exceeded total credit card debt. Gov only tracks “cohort” repayment rates, which is 2 years post graduation to track percentage of defaults. But, anyone smart finds ways like staying in school part time to keep inschool deferral going. Wake up ladies and gents…. About 40% of these loans are probably UNCOLLECTIBLE even if they do follow the debtor to their graves.
    Consumer Bankruptcy Attorney in San Diego

  • Rod

    john w – you’re right of course, but it’s W-A-Y too late now. The coming US elections will be worthless as the debt, corruption, greed and collapse are too far gone to be salvaged.
    It’s like changing the captain of the Titanic once it’s half under water…
    No, imminent collapse is 100% unavoidable – what people need to focus on is how the Phoenix-from-the-ashes American society will be designed. ie a fundamental shift away from credit driven shallow unhealthy lifestyles, salary and bonus caps for executives, full accountability for corporations, Wall St and government via salary-free independent public committees, personal liability for business failures for business managers etc (ie if a manager causes business failure they DON’T get a huge payout – they have their personal wealth & assets seized in compensation. Let’s see how many people want to run businesses and corporations when they’re going to be held accountable for failure…)
    No, the crash is imminent and going to be hard and bloody and prolonged. Brace yourselves.

  • Juliette of Ohio

    For John W: Great idea, but although I’m an intelligent woman, I simply don’t know what to do. The only way to control our government is to starve it which will grind the gears and make them quit.

    This is not going to happen because people are tribal, and the Republicans and Democrats will never cooperate and I’m not talking about the professional pols, but the rabid memberz of each party. The insults are being thrown around like hand grenades even here, instead of realizing that all politicians are corrupt and power-mad with the ego of the truly insane.

    We’re too celeb crazy to follow a normal person and someone has to be able to attract a following. It’s not I, but I wish all of us luck. For Something Wicked, etc., we have had enough pain, thank you, and we’re neither spoiled nor ungrateful. For some of us, the Great “Recession” has been going on for quite some time.

  • http://thecivillibertarian.blogspot.com/ Something Wicked This Way Comes

    We didn’t get here because we were on a winning streak. Thanks to Jerry, Mike. Break out the Kleenex box.

    http://thecivillibertarian.blogspot.com/

  • mondobeyondo

    Most Americans are in such a stupor, they wouldn’t blink twice if their favorite sports stadiums and arenas were bought out by Chinese or Japanese investors, or some group in Dubai. As long as the show goes on and the entertainment continues, they are (quite literally) fat, dumb and happy.

    We are being invaded, and those who are invading us are doing so without firing a single shot. Sure, we’ve got battleships, helicopters, tanks, etc. They’ll be the next to go. Wonder how money we could get for selling a couple aircraft carriers to the Chinese. Will it be enough to prevent the federal government from a fiscal shutdown next year?

  • http://www.thrivinginthe21stcentury.com Barbara Frank

    My former engineer husband has been out of work for 3.5 years. The only reason we’re hanging on is because we had no debt and a paid-off house that we cashed out.

    It shocks me how few people are preparing their kids to survive this kind of economy, which isn’t going away any time soon. They should be teaching their kids basic survival skills and how to handle money. Instead they park them on the soccer field every weekend. Bread and circuses indeed.

  • http://www.dixienet.org Michael Hill

    Do we really need DC’s misrule over us?

  • The Beast

    @Brunolem
    If uncle Sam is going into that direction, then the entire world will be engulfed in nuclear fire, because the only way to “erase” China is by using nuclear weapons. FYI, China also has some nuke warheads in their sleeves.
    Maybe the upcoming won’t be that painful. The disbandment of the US Federal Government, followed by the formation of a new regime in North America is also a possibility. We all witnessed such in the 1990′s. Remember when Gorbachev stepped down and the USSR was no longer?

  • Lisa

    I also agree with Jerry, although I wouldn’t say that I enjoy watching others suffer. I only hope that out of the unfolding changes, people learn what is truly important in life. We all need to get tougher… a lot tougher, a lot healthier and a lot more resourceful. We need to learn how to make things again, starting with our own food. We need to learn to fix and maintain our posessions so that they last. Learn some basic natural remedies so we aren’t always at the mercy of doctors and pharmaceutical companies. There are so many creative ways of dealing with hard times. I hope we’re up to it.

  • http://www.danielrevelationbiblestudies.com Robert Stout

    The glory days are well over for the USA. Watch this fall and early 2011 to the total economic collapse of this once strong country!!! Our current leaders have sold all of us down the river!!!

    I really enjoy reading your articles, they are very insightful, clear and precise. The truth has now come into the light so everyone here in the USA and world will soon be able to see what our leaders have done to all of us!!!

  • http://obbop.wordpress.com/ Obbop

    “There’s class warfare, all right, Mr. (Warren) Buffett said, but it’s my class, the rich class, that’s making war, and we’re winning.”

  • Jimi

    Rome tried that. Looked how it worked out for them.

    My goal is for 10~15 million to leave California. Brown will bankrupt it so the welfare will end. Then the poor will leave.

    It’s all working out just as I planned for. Don’t let the door hit you on the way out of my state!

  • http://menaceofprivilege.com taxpayer

    While selling off infrastructure is not a good idea, we can recoup by imposing taxes on infrastructure revenue. Since these are monopolies, the owners are already maximizing profits and will be unable to pass those taxes on to the customers.

  • Jack

    The economy has been tanking for decades and people like the ones in the you-tube clip told people who complained they needed to get an education and walked away with an attitude of like don’t tell me your problems, I don’t care.

    News flash people who blew threw millions of dollars of earnings over the last few decades, lots of the blue collar labor force is finding your plight entertaining. Go live in your imported car.

  • mondobeyondo

    The only ones not living like paupers, are the ones who deserve to be.

  • Rebootd

    Here’s an idea for those “white collar” workers. How about they start seeing themselves as blue collar workers? I saw that 60 minutes segment too. It is difficult to articulate what it is that bothers me about all these folks spending their savings, their retirements, and losing their houses while they wait (for 99+ weeks!) for jobs in their “fields.” I know what it is to be truly poor; and no poor person I know would ever sit that long without doing SOMETHING about it. Hell they wouldn’t wait one minute to try and make a buck. The only person in that entire video that impressed me was the woman who went out collecting cans. And the woman who explained that “the lowest for ME would be a job as a clerk”? Does she mean that she is too good for waiting tables or cleaning houses or working in a movie theatre? These people have no idea how LUCKY they are that they had 401ks to begin with.
    Folks who have been down to poverty know full well that the rules were not written for their benefit, and that you can die waiting for a miracle. I understand the pain these “99ers” feel, but it is their very sense of entitlement that keeps them from going out and immediately addressing their situation. They talk of sending out resumes and waiting for answers, when what they needed to do at Week One was start knocking on doors, re-evaluating their expenses, and downsizing. Time really matters when you are on the edge – a well-timed $50 can save you hundreds later. Jerry is right. The first thing they should have done was get out – sell if possible, default if necessary, but STOP pouring money down the expense drain. It bothers me that for decades nobody has given one damn about all the blue-collar single moms out there working three jobs. It’s only when it hits older white collar men that it suddenly becomes news and something for us all to feel sorry for.

  • foo

    No, the poor will not leave california. Remember the bailout? we just gave california 42 BILLION in subsidies from ALL AMERICANS to pay for their pro illegal pro mexican policies.

    Meanwhile we imported 6 Million Indians with fake degrees to take our tech jobs working for 50 cents on the dollar.

    Then we passed laws making it illegal for tech workers to be independent contractors

    Then we passed the new bankruptcy law making it impossible for entrepreneurs to borrow money like SBA loans to start a new business without RISKING A JUDGE FORCING THEM TO REPAY IT FOREVER IF THEIR BUSINESS FAILED. poof business creation was no longer worth the risk.

    gee real smart huh?

  • lostinmissouri

    First, we sell everything, at outrageous prices, then we pass laws saying it is illegal for foreign governments or even foreigners to own property in the USA, and buy it all back for pennies on the dollar.

    Remember in the 70′s, Arabs were buying up America, and then in the 80′s, it was the Japanese. Both times, the foreigners lost their asses. There, that will fix it.

  • Craig

    Which will be the first state to threaten secession from the U.S. if ever? As long as they can get that gravy from the Fed, probly never.
    What the hell can a guy do, maybe learn from the Amish and adopt a 19th century lifestyle, except I’ll be armed to the teeth with 10 viscious rottweilers on my property. Now to find a horse and buggy, to suit our new 3rd world lifestyle.

  • http://cleverstake.blogspot.com Clever’s Take

    This situation has been on my mind for some number of years, but only recently did I decide to aggressively research what I’ve been thinking.

    As a Canadian, I know all to well the damage that a foreign owner can impose on a country. Many parts of my country are already owned by America, combined with the failure of domestic business against American franchises has left my country with a dwindling job market and culture.

    The information presented to me here has been useful in my decision to EMIGRATE FROM NORTH AMERICA, but hasn’t answered my question of where…

  • premurdered

    Why do they always pick drunks/drug users for these vids? Because THAT is today’s America.

  • scott bowlan

    it all started when pres Clinton sold up out to foreign nations. Clinton signed in the destructive china free trade bill on his last weeks in office.
    every one warned bill that doing so would destroy the u.s.economy but he would not listen.
    now millions of jobs lost in manufacturing do to overseas manufactured products pushing u.s.manufactures out with lower prices.
    here we sit jobless,broke homeless depending on state aid and government help.
    manufacturing is dead.
    America used to be powered by manufacturing now we import 90% of every thing we buy.
    manufacturing in the united states was known as the u.s.economic engine that runs the economy,with out it we are doomed.
    walmart has become chinas largest trading partner.every thing we buy is at walmart and every this sold at walmart is made in another country.
    the side effect is unemployment.
    yet no body in our government seems to care.
    not a single person in government even discouses what happend to these jobs,all they say is how they will magicly fix it.
    the facts are they dont care,it they did they would place all their attention on what caused the manufacturing to go away in the u.s..
    nothing will get better unless the same trade bill that cause this mess is reverses and the gov has no intention of reversing any free trade bill as long as big banks and money junkies on wall streat make money from it so during the last month os 2010 threw the first 6 months of 2011 we can expect food cost to skyrocket.
    what will come after that about mid 2011 we can expect to see states budjets fail,state by state each state will layoff their help and welfare programs will grind to a halt,unemployment benifets will run out completely and the gov by that time will be so fare in dept that they wont be able to bail out states like they did in 09
    its going to get worse from mid 2011 threw 2012 we can expect things to really get bad.
    riats on the streets food wars killing and the list goes on.
    my economic research is inpeckable so take my word on this.
    you are being snow balled by the media who is controled by our own government,you are being distracted away from the real economic problems and if you think its going to get better by replacing the demecratic party,that will help stop massice spending but we are already doomed because of free trade,.
    if you live in the cities you will be in trouble.
    those in the country will be able to fish,hunt and grow food.
    it is incredable how so many people dont have a clue as to what is coming.
    it is truly sad that the people in this country are sitting ducks to whats coming.
    watch the date from dec 2010 threw the first 6 months of 2011 we will see skyrocketing food,gas,oil prices.
    gold will fall and the dollar by mid 2011 will have crashed.its coming and you are being side tracked away from the facks.
    present trends predict future trends.

  • http://www.hedgethebets.com/ Philip M.

    Millions of unemployed Americans now live as paupers. It’s so sad.
    Your home is your biggest asset turn out to be a big lie. Many Americans had to learn it the hard way by being in foreclosure.

    Most foreclosure are from government entities like Fannie and Freddie!

    According to a recent study by Lender Processing Services, foreclosure starts continue to be dominated by GSEs (Government Sponsored Enterprises). However, GNMA (or Ginnie Mae, Government National Mortgage Association) activity is almost negligible. GNMA is a government-owned agency which acts as a secondary market conduit for FHA and VA loans.

    http://realpropertycheck.com/latest/2010/11/lps-says-foreclosures-are-dominated-by-gses-private-foreclosures-are-falling/

    The LPS study shows:

    The increase in foreclosure inventory has accelerated dramatically over the last 4 months for agency prime product as GSEs have ramped up foreclosure starts.

    The average number of days delinquent for loans in foreclosure has increased from 251 to 484 days since January 2008 and is still on the rise.

  • PatriotsTriedToWarnYouAndGotSpatAt

    Any of you who do not wish to read a Rant, quit reading now.

    Welcome to the HELL “conspiracy theorists” tried to warn you about. After all,this is a nation full of those determined to remain ignorant with their heads buried in the sand…and other places.It was very clear as long ago as 100 years that if things kept on the way they were going, this nation would be reduced to third-world status. Enough Patriots wrote books telling us how it was going to be achieved. And the process has followed the exact path predicted.These were not fortune tellers writing such books. They were rational thinkers who could connect the dots.They were Patriots. The term has become an epithet, now. How? By brainwashing techniques.

    At this point, I can feel little but disgust at the despicable sight of you ignorant,greedy hogs moaning, complaining and groaning and STILL kissing up to those who “did you in”; still asking for handouts and legislation from govt.; you who have had 100 years to notice that nothing that comes out of govt. is in the best interests of this nation in the long run; you who fed at the trough of debt for so many years and felt so great about the pseudo “success” you exhibited. Yes,you felt better than so many of the brave Patriots who tried to warn you that America’s constitutionally protected rights were being gradually eroded by illegal “laws”.

    Most Patriots lived within their income in small homes for upwards of 40 years, so you disdained them,didn’t you? They seemed to be going “nowhere”. You felt even better when, by the late 1980s these Patriots got illegally and with false claims, divested of their paid up properties through corrupt courts,didn’t you (?) saying things like, “well,they must have done something to deserve what the IRS did to them…” Yes, they did. Whenever the govt. went after them with their timed agenda,while real Law still applied, some of them stood firm and successfully challenged govt.’s false claims by citing Law in court;representing themselves as themselves (a legal term) They’d learned how to claim the rights you over-educated ones only believe you have. Oh yes, politicians are wily creatures. They’d written the laws so that one has no inalienable right UNLESS one knows how to claim them and that can only be done by representing themselves as themselves. But you egg-heads still believe what Attorneys tell you, that “when one represents themselves, they have a fool for a client”, don’t you?

    In law books, one must wade through a welter of syntax to know what the corrupt writers of law say to each other. Law is a land-mine of syntax and coded phrases. Patriots used the time away from the pursuit of the illusive “Am. dream” to hit the law libraries and learn how things work where it counts;in corporate documentation on the federal register.

    Some time in 1976, your exalted congressmen found a way to hide the valid Laws Patriots had been citing for years, and the govt. closed that gap in 1976. Turns out such an eventuality had been anticipated and several precursor incremental unlawful “laws” had been passed to pave the way. Courts have now become so CORRUPT that common Law no longer applies for the average citizen when govt. is involved as a defendant. It’s called FASCISM.

    And it happened while most of you over-educated ones were kissing up to the powers that be, and even feeding at their seductive debt trough. And those congressmen you kissed up to let many more such illegal and unconstitutional bills pass related to every activity of mankind. Boy did “you people” have a blast calling Patriots names because they seemed to find fault with so many things you could not see going on all around you, so blinded were you by the very effective brainwashing techniques aimed at you and by the glare of all that gold at the end of the rainbow you were being seduced to seek. Your disloyal congressmen were well paid and did quite well economically, through the years, even as they accepted your heartfelt accolades.Politicians have lifted hypocracy to a whole new level in the past 100 years.

    But you who are brain-dead still believe what the educational system pounded into you; all lies and misinformation. But majority rules, right? The truth does not matter. What matters is what most people can be made to believe is the truth.It’s called DEMOCRACY.

    Some Patriots were actually killed for daring to denigrate democracy as a political system, citing the truth that this nation we call America was originally founded as a constitutional Republic of Laws that applied to everyone; even those who enacted them. You don’t seem to notice that in a democracy, patronage and social status is the name of the game. And those who do see this, only strive to climb onto the bandwagon of patronage, themselves; like a pack of hungry social climbers. [Hungry wolves are not as frenzied as social climbers vieing for a rung on the laddar of status.]

    Instead,many of you opted to disdain and look your reshaped noses down at those Patriots and guardians of the flame of this constitutional Republic we call America; they who were enlightened and who tried to enlighten you and perhaps goad you to hit the law books or even read the documents they tried to hand you, so you could see for yourself whether they were telling the truth. They didn’t look “successful” enough to you though,did they? Most Patriots owned small 1200 sq. feet homes, even though they were adequate and fully paid for and had no debt to speak of.Patriots don’t usually wear expensive attire. Patriots are not greedy, like you “upwardly striving” success stories. Some Patriots even had people tell them they were making the IRS angry and it would retaliate against everyone, so Patriots will be blamed for disturbing the evil hive, because, after all, not one of you egg-heads are prepared to assume the mantle of moron-hood that you deserve.

    No, you are too brainwashed and predictable.And dangerous. You will go into the very knee-jerk responses you are all engaging in right NOW. You are TRAINED to complain uselessly and in all directions but the right one; TRAINED to “throw the ball behind the runner” as the term goes in baseball. Trained to work “within the system” where, because it’s so hard to find a toe-hold in, you will do at all times what you are told to do to retain your place “in the system” that views you TOO, as nothing but useful cattle to be herded this way and that. Many people, when the ugly truth finally dawns, will riot.

    And when you become “useless eaters” you will be destroyed in subtle and not so subtle ways and will eventually be culled from the herd, as “they” say in their own documents.Oh! But you don’t read documents, do you? You only read textbooks with misinformation in them, don’t you? That’s too bad. You’re going to die as effectively ignorant as the day you were born. Unless….you use your time in unemployment to hit the Law library (where, admittedly,very little real Law resides) and learn something.

    Hint, hint: Many answers lie in the federal registry and congressional record books. It’s hard going because one must learn how to read legalese; much harder to do than read textbooks of higher education. But uneducated Patriots have mastered the lingo, so perhaps you too might be able to do it. If you try.

    Seek and you shall find…

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