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The U.S. Economy Is A Dead Horse And The American People Are Starting To Get Really Pissed Off And Frustrated

The economic frustration of the American people is reaching a fever pitch.  Millions of Americans can't seem to get a good job no matter what they do.  Millions of others are working as hard as they can but find that they keep coming up short at the end of the month.  Record numbers of Americans are still going bankrupt.  Record numbers of Americans are still losing their homes.  Meanwhile, the U.S. economy is a dead horse at this point.  It just doesn't have any more to give.  At this point the U.S. economy is like an aging rock star that requires larger and larger doses of drugs each night just to be able to perform.  The U.S. economy is addicted to "drugs" such as debt and government stimulus, and years ago those things really supercharged the U.S. economic system, but at this point they aren't provoking much of a response at all.  In fact, the things that once "stimulated" the economy are now slowly killing it.  But the vast majority of the American people do not understand this.  All they know is that the economy is broken and they want someone to "fix" it.

For most Americans, all we have ever known is tremendous prosperity.  All our lives we have been taught that America is the richest and most prosperous nation on the planet, and that while there will always be times of "recession", things will always bounce back and be better than ever before.

But this time things aren't bouncing back.

And Americans are starting to become extremely frustrated.   

A couple of quotes that appeared in a recent article in The New York Daily News really embodied the growing frustration that so many are feeling at this point....

"My husband and I are fortunate to be able to move in with my 81-year-old mother-in-law. But how sad is that? I apply for jobs and nothing happens," writes Gayle Hanson. "Who wants to hire a 59-year-old woman? My answer is nobody. [I] have years of experience, excellent references. And nothing to show for it."

"I am soon to be 57 and considered too old, too expensive, etc. I can't get an employer to hire me at any salary," writes Mike Stiller. "I am BOILING MAD."

But Gayle Hanson and Mike Stiller are far from alone.

Millions upon millions of Americans are "boiling mad" about the economy at this point.

The truth is that the United States has lost 10.5 million jobs since 2007.  Many of those jobs have been shipped off to countries like China and India where labor is much cheaper and they are never coming back.

There just are not enough jobs for everyone in America at this point.  The number of "chronically unemployed" has been rising at a frightening pace.  In fact, the average duration of unemployment in the United States has risen to an all-time high

If you have never been unemployed and unable to find a job, then you just don't know how soul crushing it can be.  This is especially true when you have a family to support.

Right now, there are 9.2 million Americans that are unemployed but are not even receiving an unemployment insurance check.  It is easy to tell those unemployed workers that they should "get a job", but as the chart below shows, the gap between the number of unemployed workers and the number of job openings has increased dramatically over the last couple of years....

But in this economy, even many of those who do have jobs are still struggling mightily.  According to a poll taken in 2009, 61 percent of Americans "always or usually" live paycheck to paycheck.  That was up significantly from 49 percent in 2008 and 43 percent in 2007.

And Americans are still losing their homes in record numbers.  Banks repossessed an average of 4,000 south Florida properties a month in the first half of 2010, which was up 83 percent from the first half of 2009.

Meanwhile, demand for homes is dropping through the floor.  The Mortgage Bankers Association announced on Wednesday that demand for loans to purchase U.S. homes sunk to a 13 year low last week, and refinancing demand also plummeted despite near record-low mortgage rates.

So considering all of these statistics, is it any wonder why so many Americans are so pessimistic?

According to a recent poll conducted by Bloomberg, 71% of Americans say that it still feels like the economy is in a recession.

But the truth is that we haven't seen anything yet.

Things are going to get much worse.

Already, Federal Reserve policymakers are discussing what steps they might take to stimulate economic activity "if the outlook were to worsen appreciably".

So can more economic stimulus help?

To a limited extent.

The Federal Reserve and the U.S. government will likely try to inject more debt and more "economic stimulus" into the system to try to shock the economy back to life.

But the more debt the U.S. government takes on the worse our long-term problems are going to get. 

The reality is that the U.S. economic system is broken, and there is simply not any "quick fix" that is available that is going to get things back to normal.

So on an individual level, what should we all do?

Well, we all need to start becoming a lot less dependent on the system.

We should all consider how we can start our own businesses, grow our own food and trade within our own communities.

If the entire system is starting to break down, it is those who are the least dependent on the system that will have the best chance to prosper during the times ahead.

So what do you think?  Do you agree?  Do you disagree?  Feel free to leave a comment with your thoughts below....

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  • http://SteveQuayle King of Salem

    When you read Daniel 8:23-25 and realize as revealed by The Spirit of Truth that B Obama is that “king” or ruler, then you understand that the economic demise is being perpetrated intentionally- and with this man’s lies comes a tremendous amount of death and destruction. The fulfillment of G. Washington’s vision at Valley Forge, the winter of 1777 is at hand. The third part of that vision, the destruction and occupation of America is at hand.

  • T.J. Jackson

    If you finally realize that there is a big problem and are behind the curve and have adequate means and want to make a positive move, go to survivalrealestate.com for some great info. The future belongs to the prepared.

  • Scott Mollett

    If anyone mentions who is responsible the censorship is brought forth. Until this stops nothing will change.

  • francismarion

    I saw all this coming years ago and by the grace of God and common sense I got my act together. Also I have a pretty good education, the best part of which I have obtained over these thirty plus years since graduating college.

    Please let me advise all of you on one piece of equipment you need to assure your ability to think critically and prosper in the long term. A few books on world history and geography. Most of you appear to be woefully unaware of how through history and in many places people have grappled with crises greater than the one(s) we now face.

    Literature will enrich you with a knowledge of the human spirit, mathematics and science with give you insight in how to tackle practical problems and more abstract endeavors, T.V. wil just make you stupid but history will inform you that this is not the end of the world.

    Far from it. The United States, by virtue of its geography, is the greatest nation on earth. Period. If it had nothing else going for it, the inland waterway of the Great Lakes and the Colorado-Mississippi River Basins give the U.S. access to all the resources of the breadbasket of the world. Our society, though under assault is the wealthiest on earth by orders of magnitude. Our form of government, so richly deserving and always copiously receiving excoriation by all Americans is the envy of every nation of the world.

    Are things so bad? Compared to what? It’s all relative. The Revolutionary War almost finished us. The Civil war tore us a new one. World War Two was a very close run thing. The genuis of the founding fathers is that they let us do damn near anything we wanted, almost to our demise and we came out stronger every time. There’s a lot more to say, but you can learn it for yourself.

    So get ready. We may be destroyed. But we will never be defeated.

  • Andrew Jackson

    You bastards who run this site are not really interested in the full truth. You are just like the mainstream media who pretends to report the truth but not enough for the masses to make changes that will stop the wickedness going on in America and the world. My earlier comment, which you did not post, hits the nail on the head and I have the proof and can site the research. You bastards have to stop being afraid of the truth or is it that you are here to fake your positions as reporters. The press is protected by the constitution only to have half-truth telling pigs like you to occupy the position of information officer.

  • http://www.sovereignmoney.com RobertM

    Author of article said “The reality is that the U.S. economic system is broken, and there is simply not any “quick fix” that is available that is going to get things back to normal.”

    There is no *quick* fix but there is a fix:

    1)Paul said “That said US has to put lots of money in research and go for new innovation and lead the world. ENERGY is one area I think.”

    Exactly. And we start by dumping a bunch of money into building a LFTR thorium manufacturing plant alongside a 5 year research project to iron out the details of building thousands of 100MW reactors to sell around the world. Energy problem solved…for at least the next thousand years.

    2) Mike said “The Government should be the ones issuing DEBT FREE MONEY, not borrowing it from international bankers who simply create the money out of thin air themselves! Until that root cause is fixed, all else is just a puppet show. You can’t fix the system the way it is now, it must be replaced.”

    Right again. We have smart people on this blog. You can find the solution explained more in detail here-
    http://www.sovereignmoney.com

  • Randy

    It can all be summed up to cheap energy. Cheap energy built this county and now it is gone. The US peaked in 1970 (oil production) and has been in decline ever since. The days of cheap energy that built this country are gone and the days of expensive energy are here to stay and with it slowed economic growth. Don’t expect that to change anytime soon, and no, renewable energy won’t save the day. The USA needed to go down that road 30 years ago and didn’t, it is really too late now to change course. Welcome to the next Great Depression.

  • Flyer1

    “The U.S. Economy Is A Dead Horse.” Then seek out a country with a better economy and move there. Next problem.

  • David Fuhriman

    I agree with the article. I have been looking for a job since June 2009. I am a prior Army officer who knows four foreign languages and has lived around the world. I have sent out over 100 resumes over the past year. Finally, I got a job offer to teach English in Russia for $720 per month. Yes, $720 per month. Luckily my housing is paid for. So, I took my tax return and left for Russia to teach English. The American economy is broken and it will get worse. We are in the early stages of a total meltdown in America. Yes, if you are an American, you better prepare yourself for the worst is still to come. Do stvudanya!

  • Paul

    Thanks Adam and RobertM. Here is some facts about IT jobs and how US can keep IT jobs in US itself. Technology is invented in US ( Operating system and ERP applications like Oracle and SAP). 15 years back none of the companies in India or China are experts in these domain. After Y2k issue, they learned the software and applications and sent consultants to US just to work. The next 7 (2000 – 2007 ) years they not only became the experts in the software and quite familiar with the US companies business process. These IT companies from India do consulting for all the corporate companies in US. Now they are experts in both software and business process.

    Companies in India and China make 15-25% profit for every Q that too sequential growth. For on site consulting they may charge 50$ per hour and off shore 25$ per hour. ( Trust me if America train all the kids in IT, they could do better jobs with less rate rather working in wall mart). Now the new trend is US companies ask the off shore companies “Now you know the software and our business process so you tell me how we should go from there”. These CEOs have no clue what they are doing (They want to save money to please the investors) and they are nailing down the final nail in the IT jobs coffin. Remember 15 years back these companies from India and China did not know anything. Now they are going to tell them what US corporations should do as far as IT domain goes. So I would blame the US corporate CEOs for this mess. India exports 50B$ to both north american and Europe every year. How we could trade off this mess?

    US has to put a rule. For every on site consultant from China or India maximum pay would be 40K only. For off shore consultant 15-18K only. SO no one will come here for employment and stays in India or China where with 20K$ they could live upper middle class life. AT the same time if these companies employ Americans, then the max pay would be 55 to 55K. This would block these companies to export the jobs to off shore and companies from China and India hire and train more resources from America. Reason is they make more money. So jobs which need no experts in IT (50%) can be shipped to off shore for 15k$. Both countries will get benefit. Also you put a seal on the salary (max 75k) that people get what they are worth that will set the IT industry to stable in long run.I think with 55 – 75K maximum salary we can lead a decent life in US. On the flip side pump money in ENERGY research and those who want to make more money, let them jump in there. Otherwise like auto industry in another 5 to 10 years all the IT jobs in US will be wiped out.

    Again, I am sorry if this comment hurts any one!

  • http://survivaljoe.net/blog/ Survival Joe

    As you suggested, if the system collapses, it will be difficult, but certainly much easier for those who are no longer dependent on the system.

    Where does wealth come from? It comes from human labor. Fortunately, not even an economic collapse can take away the means to create wealth. You will still have your labor.

    The key will be to stop looking to corporations and governments for jobs, but using your mind to figure out how you can create value for other people and get paid for it.

    -SJ

  • Ron

    Hilarious!

    Amerikkka utterly devastates two sovereign nations for their resources, murdering untold thousands of people in the process, destroying lives and livelihoods of millions more, and then whines that the cost of those wars precipitate a decline in the standard of Amerikkkan life. Amerikkka goes to war for oil, yet bitches, drips and moans when the stuff is delivered to your very shores. No sympathy whatsoever. I have more concern for the wildlife being affected than I do for any yank!

    Suck it up buttercups, karma is a bitch! You’ve utterly earned this, and with any luck it will be your ruination.

    Bastards, the lot of you!

  • http://theeconomiccollapseblog.com/archives/the-u-s-economy-is-a-dead-horse-and-the-american-people-are-starting-to-get-really-pissed-off-and-frustrated Marcus

    well, how the hell you think we would feel? this is a govermental sabotage, aimed to fool the people, and put them into slavery, but they failed! We’ll rebel, and alot of lives will be lost!

  • Bob

    The collapse of the US middle class is upon us. Total wipe out is coming. Next stop is collapse and then revolution. Load up on food, guns, ammo and gold. Start learning from the Mormons. US is going to turn back into the wild, wild west again!

  • Myposts

    Well… I was born in former USSR and I do remember how once monstrous, hugely powerful, overhyped, too large to fail state just ceased to exist. I know from my personal experience how fragile are all these things we call “way of life”.
    I do thing that US is on VERY wrong track, and possibly, on irreversible decline. When you play chess and make too many wrong moves, you come to a situation that you loose, no matter how much effort you make.
    I do love USA. I do thing it is terrific place to be and create, and love, and start family and I honestly believe that the only hope here for all of us is Spirit of a FREEDOM.
    FREEDOM is a big word that many put into misuse and wash it down. I do remember what it is to be a worm on a hook, a slave of freaking communist regime, powerless, and I’m not going to give it up not to anyone, not to crooks in Washington, not to communists junk regime in China.
    Yeh, it is easy to get disparaged by what you see and read. But we are big boys now, aren’t we?
    To these guys in from India who is going back: I am not going back. I am here to stay, to live and to love and to establish family. I will make my roots here. I want my kids to have a free homeland to love and to be proud of.
    If things are getting out of hands, if the business is bad (and it is now for me too) find old Sinatra’s song “That’s Life” listen and keep going. No one will take of us. No one should take care of us. We are big grown guys. We play in major league of our life, so let be proud of both our success and take our failures. And let be friends, because or we will hang one on another or we will be hanged one by another.

    God Bless America

  • sharonsj

    This article really hit a nerve because I see people are still commenting on it. Personally I see nothing but gloom and doom for years. We can’t get out of the downward spiral because Congress is a corporate whore. It will not reform itself and it will not pass laws that benefit people instead of corporations.

    We will all be scrambling to survive except for the richest at the top. I’m just wondering how many dreadful things have to happen before we see desperate people rioting in the street?

  • http://sykophunk.com/ joe DOE

    sharonsj said “This article really hit a nerve because I see people are still commenting on it.” While that’s apparently true, it also touches on part of the problem. Should it be so noteworthy that people are still discussing this article a whole week later? Isn’t this something we should be constantly talking about until some feasible, concrete solutions arise? But in our day & age, everyone has a short attention span and receives a barrage of distractions from the government, corporations, TV, media, etc. Part of the reason for the decline of America and its economic system (besides valid points already made in other comments) is the inaction of the people. Yes, we are getting pissed off and frustrated, but we’re not doing anything about it. Does the despair of the situation getting worse stop us collectively from trying to change the very things that put us in such a state of mind? Just bringing a different perspective to the discussion…

  • Sue

    Is there a running list of companies that have left the US and taken jobs, so we, the middle class can BOYCOTT their products and
    use the ones that remained here.
    Also, I would like to see these companies help
    pay for the unemployment by being fined for every job they fail to return.
    And which companies support US workers??

  • Sue

    We can beat the corporations and law makers
    if we dont support their products, stocks
    and companies.

  • Omnipotential

    First, what country should we move to? No country is doing well right now.

    Second, why is nobody mentioning outsourcing? We aren’t going to recover unless we start producing in America. How about starting with energy and stop relying on foreign oil for starters. Outsourcing has played a major role in our collapse, PERIOD. Easy money and cheap construction was a severely flawed economy anyway.

  • A.L. Barnes

    Made in America means nothing anymore, it went the way of the dinosaur, Products that say made in the USA are more than likely assembled elsewhere with US made parts, if you can even find that.

    I say we close the door, put the Chinese out of business, stop selling them our debt, that after all is how the USA defeated the Soviets it was not conflict that did it.

    While I am on a rant, do not go after Arizona for enforcing the law of the land.

  • http://www.youngreadergroup.com b harris

    economy, save, help

  • http://www.youngreadergroup.com b harris

    I agree with you, and appreciate your facts and statistics. You are presenting information that we all need to know and acknowledge. We need to accept these facts, and then move ahead with our own plans that will enable us to retain some quality of life.
    It really doesn’t help much to get mad, complain or place blame.
    To start with, talk to older folks who had to make do with less than we take for granted today. Apply their stories to your lifestyle, and figure out where you can make changes.
    Perhaps you could imagine that there was an extremely destructive natural disaster which wiped out most or all of the basic systems we now take for granted. Water, electricity, gas, and all electronically based systems. What would you do? How would you live?
    Look to the past to get ideas on how to live without these things, and you may find that you actually can live without them.

  • David Fagan

    I’ve made a point of scheduling a conference IN AZ to SUPPORT the enforcement of FEDERAL LAW!

  • http://ec.collapse Satish J

    The world today has changed. Taiwan & S. Korea are one of the major chip manufacturers – probably they make them for the iPod as well.In short Asian countries are not just screw driver technologies – not any more. They have moved up the value chain into design and innovation, next it could be Africa and so on.
    Globalisation is an acknowledgement that people around the world are getting smarter and hence it makes sense to out source – it is an irriversible phenomenon.
    Chest beating nationalism is outdated and we have to learn to live as a global family.

  • Ron

    The US economy is indeed dead. America has lost its manufacturing base. We only have a service economy left, and the money supply has been cut off; therefore, without credit, there is no commerce in the US. This economy is predicated on credit spending. Debt is the lifeblood of this economy. It is dead, and cannot be resuscitated. There are no answers to this dilemma. Violence is coming. Civil unrest is coming. Martial law is coming. Civil war is coming. Are you ready? Which side are you on? You must make a choice. Make sure, you are on the winning side, because supporters of the losing side will be summarily executed, as it should be. To the victor, goes the spoils of war. Good luck, and good bye. God’s speed to you. I will see you, in hell!!

  • http://colonelgirdle.wordpress.com/ colonelgirdle

    I am one of those unemployed older citizens who has searched & searched for a full-time job at any level, but to no avail.

    I watch most of my peers struggling with similar problems and, unlike many of them, I do not deny the evidence of my own eyes, ears, & common sense: The USA-system is headed rapidly for the trash heap of history. The collapse is & will be very messy. Sadly, it is the only way our “leaders,” who now conduct themselves like aristocrats during Rome’s decline, will be forced to end the wasteful wars & bankster bailouts.

  • Dick

    No one is even talking about the real problem, so there is no possibility that there will be any improvement. It’s not the “republicans” or the “democrats”, because there is no difference between them when you look at what they do. Our constitutional government no longer exists. The bankers and their corporate cronies, most of whom aren’t even Americans, run the country for their own private gain and with the deliberate intent to destroy the United States and its people. The aristocratic elite have been working toward that end for over 100 years, and they have now succeeded. Actually, they succeeded in 1913 when they got control of our money. With only a few notable exceptions, all of our politicians of both parties have been traitors and thieves ever since 1913.

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