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The Worst Economic Numbers In More Than A Year

With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year.  For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half.  Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy.  We also continue to see poverty statistics rise.  According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs.  Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011.  The unfortunate truth is that things are not getting better.  The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months.

Let’s take a closer look at some of the troubling economic numbers that have been released in recent days…

Initial Claims For Unemployment Benefits

The optimism that many analysts had about jobs is rapidly dissipating.  Over the past few weeks there has been a huge wave of companies announcing layoffs.  Just check out this article and this article.

But now we are actually seeing a significant rise in the number of American workers applying for unemployment benefits.  Initial claims for unemployment benefits soared to 439,000 for the week ending November 10th.  This is the highest level that we have seen in more than a year.  The last time initial claims were this high was April 2011.  It is interesting to note that the largest numbers of new unemployment claims came from the swing states of Ohio and Pennsylvania.

Record Food Stamp Numbers

In dozens of articles I have carefully documented the steady rise of poverty in America and the steady decline of the middle class.

Even though our politicians insist that we are in the middle of an “economic recovery”, the number of Americans dependent on the government for their very survival just continues to keep going up.

A few days ago, the latest food stamp numbers were released.  It turns out that the number of Americans on food stamps increased by 420,947 from July to August.  That was the largest one month increase that we have seen in a year.  At this point, an all-time record 47.1 million Americans are enrolled in the food stamp program.  What would that look like if all of those people had to actually stand outside in bread lines like in the old days?

Stunning Stock Market Declines

A few days ago, I wrote about how many wealthy Americans are dumping stocks and other financial assets in anticipation of the looming “fiscal cliff”.

Well, if things get much worse we may soon have a “market crash” on our hands.

The Dow and the S&P 500 are both down by more than 5 percent since the election and many are wondering if things are about to get a whole lot worse.

Shares of Apple are down by 25 percent since late September.  Some analysts are actually using the term “panic selling” to describe what is happening to the stock.

Slowing Economic Activity

All over America there are indications that economic activity is starting to slow down.  Is Superstorm Sandy responsible for this, or are there other factors at work?

According to the Federal Reserve Bank of New York, economic activity appears to be contracting in areas that were hit particularly hard by Superstorm Sandy…

The Federal Reserve Bank of New York’s general economic index was minus 5.2 this month after minus 6.2 in October. Readings of less than zero signal contraction in New York, northern New Jersey and southern Connecticut.

Things appear to be slowing down in the mid-Atlantic region as well.  According to CNBC, manufacturing activity in the mid-Atlantic region has contracted much faster than analysts were projecting…

The Philadelphia Federal Reserve Bank said its business activity index slumped to -10.7 from 5.7 the month before. The fall was much steeper than economists’ expectations for slippage to a reading of 2.0, according to a Reuters poll.

Any reading above zero indicates expansion in the region’s manufacturing. The survey covers factories in eastern Pennsylvania, southern New Jersey, and Delaware.

New Poverty Numbers

More American families are falling out of the middle class every single day.

New numbers that were just released by the U.S. Census Bureau show that the number of Americans living in poverty rose to a new all-time record of 49.7 million last year.

Once upon a time, people would have laughed at you if you suggested that someday 50 million Americans would be living in poverty.

But here we are.

Soaring Government Debt

Anyone that follows my columns on a regular basis knows that government debt is one of my major pet peeves.

Well, despite all of the “budget deals” that have been made between the Republicans and the Democrats, the amount of debt that we are accumulating just continues to balloon in size.

The federal budget deficit for October 2012 was 120 billion dollars.  That was a huge increase over the October 2011 federal budget deficit of 98 billion dollars.

How long can we possibly continue to do this?

Things In Europe Are Getting Worse Too

In case you had not noticed, the economic situation in Europe continues to unravel as well.  The eurozone is officially in a recession once again, and unemployment in the eurozone is at an all-time record high.  Violent protests and rioting happen on an almost daily basis over in Europe now.  The largest economy on the planet continues to implode right in front of our eyes, and this is another factor that will continue to drag down the U.S. economy.

So is there anyone out there that actually still believes that things are “getting better”?

The brief period of economic stability that we have been experiencing is rapidly coming to an end.  The “recovery” turned out to be extremely disappointing, and now the next major downturn is almost here.

  • SD

    America’s voters have made their bed, let them sleep in it.

    • 2Gary2

      it will be a bed where the rich are taxed and start to pay their fair share

      • michelleinky

        Good luck with that. Read the articles. The rich are selling off and cashing in as we speak.

      • http://www.facebook.com/profile.php?id=100000633875894 Randy Townsend

        What is the rich’s “fair share”? Libs always trot out this phrase, as if it means anything other than implying the rich aren’t paying what they should. The poor and middle class don’t pay anything, but get checks from the government. The top 10% of wage earners (“rich”?) pay over 70% of the federal income taxes, but that’s not enough? The rich (not me, BTW) will ALWAYS be rich, no matter what the feds try and to to take their wealth.Class warfare is really popular with the libs. They better hope those hated “rich” folks don’t engage in it themselves, because the losers won’t be the rich.

        • http://www.facebook.com/adam.mcelwain Adam McElwain

          You are an idiot, the middle class pays plenty in taxes. The rich paid more under Clinton and we were better off as a country for it. It is time to go back to that. IDIOT!

      • Big Don

        never happen…

    • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

      fuck you

  • 2Gary2

    Obama will be taxing the rich and spreading the wealth. I am even hearing the senate dems want to remove the cap on income subject to social security tax. This would be enough to keep this [program solvent forever AND give all beneficiaries a $65 per month increase starting now. Tax the rich and spread the wealth! Go Obama!!

    Also heard that taxing capital gains as the income they are is on the table!! Rock on Obama!!!

    • Syrin

      Witness the idiocy of the left. This is why we are where we are people. This dumb ass believes it’s better to have 100% of a million versus 2% of a billion. He thinks that the rich will keep working and making money for him to continuously steal. He actually says it will keep social insecurity solvent “forever” like the economic illiterate he is. See, he thinks the American dream is to be laid up at home on disability getting welfare and unemployment checks while eating steaks bought for with food stamps. he thinks people will keep working to support his greed and laziness. He is TRULY that stupid. He thinks that businesses won;t close, people be laid off and the economy continue to shrink. His solution will be then to propose taking 1000% of a thousand. See this IDIOT is blind to history and facts. This is Lenin’s useful idiot, and he will be the first to volunteer to execute people who have achieved success through their own efforts and skill. Why? Because he is greedy and jealous. This is why we have guns. The Gary Brown Shirt mindless zombies are too indoctrinated to understand that 2+2=4. They can’t witness the fact that the same policies being pursued here have devastated Greece, USSR, Argentina, Japan, Yugoslavia, etc. Yet this is what they keep pushing for. Eventually all that will be left in the country will be the parasites like this tick we call GARY. That;’s when we can watch the fun on TV from abroad. That’s when they start killing each other. The liberal purge is coming. Their greed and destruction cannot be sated but also cannot be sustained. The laws of economics and human nature ALWAYS win, but it’s often bloody in the process.

      • Christopher Nelson

        Sad that it has happend. This is one way we got to where we are, watch this 8 min. video if interested: How to Brainwash a Nation

        http://www.youtube.com/watch?v=zeMZGGQ0ERk

      • http://www.facebook.com/sharon.jarvis.100 Sharon Jarvis

        You have it backwards. The rich are stealing from us at every level, but you are too ignorant to understand that. You keep buying the Republican talking points that are not based in facts.

        47% of the country is too poor to pay Federal income tax, but they pay plenty of other taxes to state and federal governments. Social Security has nothing to do with our debt–it’s the two wars, the Bush tax cuts, and the non-negotiable drugs for Medicare.

        The Eurozone is falling apart because of the banks, not because their citizens are lazy. Their politicians wanted easy money and the banks wanted to cover up their fraud. Now they are sticking the taxpayers with the bill. The very same thing is going on here in America. The financial industry and Wall Street are the parasites, but you are too blinded by ideology to see. So much easier to attack so-called liberals than take a good look at a Congress corrupted by big business.

        • JustanOguy

          Social Security has nothing to do with our debt? Where do you think $800 billion a year of the Federal Budget goes to?

          All of the money contributed to Social Security over the years was spent and replaced with IOU’s. Now with all of the baby boomers retiring… $800 Billion of the Federal Budget is being paid out in Social Security. Obviously with that big of a chunk going out, you have deficit spending which grows the federal public debt.

          You big Government nuts really are morons when it comes to reading a balance sheet.

          • http://www.facebook.com/sharon.jarvis.100 Sharon Jarvis

            I repeat: the debt was created by two unfunded wars, the Bush tax cuts, and the non-negotiable drug program for Medicare. Before you go after Social Security (the privatization of which is a Republican wet dream), take a look at our defense budget. It is so screwed up that not even the Pentagon has any idea where the money went.

            P.S. I don’t want big government. I want a competent, non-corrupted government.

          • MB

            Hey Sharon, is that your pic at the end of the article? You look a little sad, laying there all by your lonesome with your paw out looking for a handout. Poor sad little liberal.

          • 2Gary2

            typical low info conservative response. nothing new here. If conservatives are not spouting racist things they are spouting crazy shit like cutting taxes on the rich helps the poor.

          • MB

            That profanity filter doesn’t seem to work on Gary2’s posting. Typical low class disgusting liberal who can’t make a point without profanity or insults.

          • JustanOguy

            @facebook-100002147183342:disqus — No doubt the two wars and the Bush Tax Cuts contributed to the Federal Debt mess. However… over the years the Federal Budget has jumped from $2 Billion in 2000 to $3.8 Billion for this year.

            There are NUMEROUS factors that have contributed to the mess.

            Is it coincidence that Avg. personal incomes have almost doubled in the Washington D.C. area since 1998 while the majority of personal incomes across the country have been flat?

            No. Bush bloated up the Federal Government and Obama has just done more of the same making it even bigger. If State, Local and Federal Governments were still running 2004 budgets, everything would be much better today.

            However…. all of the money brought in during the Credit Bubble days was spent and budgets got out of control.

            Follow the budgets since 2000 and see how much they jumped after 2004 when times were good. Now that they are bad… they are still trying to run like it’s 2005 and much of the blame is on all the wrong things.

          • 2Gary2

            remove the cap on wages subject to social security tax and the program is good indefinitely. we can also tax capital gains like the income they are.

            Obamacare===Tax the wealthy to keep us healthy! Go Obama!

        • http://twitter.com/Siborg6 Mark Caldwell

          They pay sales tax with money taken from someone else.

        • 2Gary2

          Sharon you are 100% correct. Let the low information right wingnuts like Syrian keep spouting their BS. Obama won because more and more people are seeing conservatives for the morally bankrupt dolts that they are. The more people like syrian keep posting and talking the more the liberals will keep winning. I encourage the conservatives to keep talking, their BS is the best advertisement for us liberals to keep on winning. They should blast fox and rush from the hill tops. It is the best way for us to win.

    • JustanOguy

      Spreading the wealth? Lots of laughing. Unless you are on Speed Dial for Valerie Jarret & Company…. you are not going to see a dime more then what you are now getting in welfare and food stamps.

    • Alasha

      wat happened to our avaitars – me want cookie? smile – this is too strange… oh there it is. yay!

      • 2Gary2

        You need to register with disques

        • Alasha

          lol. i see,,,, i guess i am alittle slow. Godspeed 2Gary2

  • mijj

    if there’s ever any choice, avoid chains/mega-corps – buy local. Local, human scale producers and stores.

    • El Pollo de Oro

      “We need to bring manufacturing back to this country. We need to break up big agriculture and big pharma. We need to break up the big chains that have put us into chains.”—Gerald Celente

      “Break the chains. Olive Garden is not Italian food. Pizza Hut is not pizza.”—Gerald Celente

      • Mondobeyondo

        And any chain restaurant with the suffix “-berto’s” is not an authentic Mexican restaurant. You know… Alberto’s, Filiberto’s, Humberto’s, Brianberto’s, Debbieberto’s….yes, that includes Taco Bell and Del Taco, too. It’s not authentic.That’s like saying everyone in the southern U.S. eats grits, catfish and gumbo. Some do; many do not. The people running the “-berto’s” chains are most likely CEO’s stuck in their White Castles (inside joke! hee!!) that’s calling the shots.

        “Mexican” food is as varied as American cuisine. It’s not just tacos, tamales, salsa, enchiladas, menudo, etc. That’s northern Mexican food. People in Mexico City, Guadalajara, Puerto Vallarta, etc. are less inclined to eat those foods

        And no, I’m not Mexican. But in my particular area of the world, you can’t escape Mexican food. Adapt, or die, I guess….

        • El Pollo de Oro

          Here on the East Coast, we were deprived of real Mexican food for many years. What passed for “Mexican food” here in Philly 30 or 40 years ago was abysmal. I remember a joint called Taco Palace or Taco Heaven or something like that. Their idea of “Mexican food” was ground beef in a taco shell with grated cheese and lettuce and a slice of tomato. To say that it sucked was being much too kind. But times have changed. A lot of Mexican immigrants have moved to South Philly in the last 15 years, and now, the city has some hardcore taquerías that are on a par with what you would find in East L.A. or San Antonio (tacos de carnitas, tacos de carne asada, tacos de barbacoa). You know a place is the real deal when you walk in and a telenovela or a soccer game is blaring on the TV and Los Tigres del Norte or Banda el Limón are blaring on the jukebox.

          What we don’t have in Philly (that I’m aware of) is a good Salvadoran restaurant where they serve pupusas, though there are some good ones in Jersey.

  • Triumphator

    How about Colorado oil shales and the USA becoming no. 1 oil exporter by 2020? Is that true or just a propaganda to keep investments alive?

    • http://twitter.com/Siborg6 Mark Caldwell

      propaganda. Those oil shales will not be opened up until certain permanent changes are made in the U.S. But that shouldn’t be too much longer.

      • Jagrick

        I have read that oil shales use a lot of water so that will be a problem and also i read that if near wells it basically destroys them.

  • MeMadMax

    Whats interesting is unemployment is going up when it traditionally goes down at the start/during the holiday season when stores gear up for the holiday season. I’m assumeing obamacare is causing a teeter totter effect here. Where lots of companies are hiring temps while lots of companies are firing at the same time. Which means when jan/feb comes along and the traditional layoffs of the temps occurs, unemployment will go REALLY high.

    • http://twitter.com/Siborg6 Mark Caldwell

      Looking at the ‘money velocity chart’ and the ‘Baltic dry index chart’ shows a continual slowdown. And with the return of recession in Europe I believe Mark Faber prediction that US and global GDP will contract over the next six months.

    • Jagrick

      1st claim unemployment went up the highest in over a year. Scary as like you said about unemployment.

  • Milou

    I live in France, near Bordeaux, in Royan exactly. It’s a little town (20000 inhabitants). For the moment we have not too much problems : no social riots, for instance, only social unrest against the crisis. It’s the same in Bordeaux. But yesterday we had workers strike in all France, as all in Europe, protesting against unemployment, high taxation, high cost of live, and lay offs, etc….

    What do you think about this paper of “der spiegel” :

    http://www.spiegel.de/international/world/divided-states-of-america-notes-on-the-decline-of-a-great-nation-a-865295.html

    I read all your analysis, and I suppose there is something true in these allegations of der spiegel.
    Kind regards.

    • http://twitter.com/Siborg6 Mark Caldwell

      “Little town” ? LOL, No, I live in a little town (496 residents) sorry for digressing.

    • http://www.facebook.com/sharon.jarvis.100 Sharon Jarvis

      I read the newspaper article.

      No protection against storm surges: It costs a lot of money to build water walls, levees, etc. We haven’t spent much money on our infrastructure or protecting against global warming. We haven’t done much of anything about global warming because a chunk of our idiot Congress doesn’t believe it exists. And we have right-wing representatives who think disaster aid is immoral….

      Limited opportunities: We now have the greatest disparity in our history between the rich and everyone else. The lower and middle classes don’t have enough money for higher education and go into terrible debt in order for kids to attend college and technical schools. Unions have been demonized and attacked; very few people now belong to unions. And as for infrastructure, see above. We’d rather spend money on war instead.

      Lack of strength, courage, and will: Spending billions on the military takes away from spending on things that really matter, Our national news media doesn’t give us news, it gives us entertainment. If you read the comments from others here, you’ll note that very few people quote facts and figures; Americans are ignorant of just about everything. And we like to bitch and moan while sitting down–the last time you saw really big protest marches was in the 1970s and in 1995.

      Finally, so far I’m the only one who bothered follow the link and actually read and respond, and I’m the one who is attacked for being a communist, socialist, unionist liberal–so that should tell you why this country is in so much trouble.

      • 2Gary2

        Sharon–if you will be posting on this site you will need to get used to all the conservative stupidity. Most of the conservatives posts are the reason the left is winning and will take over 100% soon.

        • http://www.facebook.com/adam.mcelwain Adam McElwain

          They need to get used to Michael being a crazy Christian nutbag too.

  • RejectUSSA

    I finally figured out Gary2. He’s nothing more than a lonely troll who gets a kick out of pushing this blog’s proverbial buttons. I say this because there is no way a rational, intelligent human being, or even a secular, progressive liberal for that matter, believes that spreading the wealth and taxing the rich provides a sustainable economic solution to anything! This jackass still believes the last 4 years under this model is Bush’s fault. Never in the history of the world has this model been successful and simple, common sense would tell you why, even for the most simple and common among us. Rock on Obama! Really, Gary2? I wonder what you will be saying when there is no more wealth left in this country to spread around…..Go Obama!! LOL.

    • 2Gary2

      Obama beat mittens–people are seeing your point of view as the morally bankrupt system it is.

  • haselcheck

    More Progressive Socialism and DemoRat Fascism will fix everything !!!

  • Jodi

    Yes my friends, this is what I like to call it…Obama’s America!

    • http://www.facebook.com/sharon.jarvis.100 Sharon Jarvis

      As opposed to Romney’s America, where your jobs are shipped to China?

      • MB

        As opposed to Obama’s America, where there are no jobs, and the ones here are disappearing due, in part, to union greed. Liberals would rather see Hostess go bankrupt than to compromise on their pay and benefits. It’s all about me for these “progressives”, moving us forward to 1933.

        • http://www.facebook.com/sharon.jarvis.100 Sharon Jarvis

          Unions constitute only 9% of the entire labor force. If you check into the Hostess bankruptcy, only one of the unions wouldn’t agree to lower wages and benefits. During the first reorganization, all the unions had agreed to lower wages and benefits, so this was yet another round of being screwed while the execs of the company gave themselves big raises (as much as 80%)

          This is also what Bain Capital and others do: they buy up a company, put into debt, pay themselves huge bonuses, take from the employees, and when the company can’t keep up with the debt, they put it into bankruptcy, sell off the good parts for profit and steal the employees’ pension fund. In this bankruptcy, the owners get to keep 75% of the pension fund, leaving the workers, who paid into it for decades, with almost nothing.

          While you’re bitching about liberals, the conservatives are stealing the country from right under your ignorant nose.

      • Guest

        I don’t disagree with you. Romney wouldn’t have been much better! Either way, both are responsible for shipping jobs overseas.

      • http://twitter.com/Siborg6 Mark Caldwell

        I was never a fan of either candidate, but Obama is no longer facing reelection and can continue his trend of using ‘signing statements’ Executive Orders. And most recently signed one without releasing the text of the EO.

        He is going to go hog wild with these and will continue to run the least transparent administration to ever occupy the WH.

        • 2Gary2

          good and he has said he will taxing the rich. Good for him!

          • http://www.facebook.com/adam.mcelwain Adam McElwain

            Agreed!

      • http://profile.yahoo.com/XFAEMN7TP3UPWEAV7KPNZQ33LM Paul

        When has this been Romney’s America? I don’t recall him ever being President. Obama owns this economy now. His policies have been in effect for 4 years. He had 2 years where the Dems controlled the House and Senate. He was just re-elected, so now he can give the voters what they asked for … good and hard. Enjoy.

  • http://www.facebook.com/profile.php?id=719971429 David MacKenzie

    Sobriety. It is a good word. And it’s probably what we need right now. I’m not American, but I have plenty of American cousins, and I have no desire to see them unemployed. But we’re dreaming if we think our nations are “healthy”; they are not. Like Christmas trees, they may look nice to the casual observer, but they’re already dead. People are proud, unteachable, contemptuous of others. Left to ourselves, we would prefer to live with mere fantasies than accept realities. We dream of Vegas and live in the rust belt. We actually believe the commercials that make everything in L.A. look like Rodeo Drive, and portray Detroit like its best days were still ahead. They’re not. We are bloated, insufferably middle class, and often outright spoiled. Rome burned while Nero fiddled, they say; these days, we’d ALL rather fiddle with Nero than fight fires. There’s delusion everywhere, as though “lying spirits” had been released upon the masses. The Left believes that abortion is good; the Right believes that torture is. Are you both insane? Could either one of these EVER be “American virtues”?

    One side will never tax, the other won’t stop spending. Could such a gridlock EVER be a formula for fiscal success? Confusion rules the airwaves— the endless babble of Babylon. Progressives reject the notion of individual corruption, and conservatives seem blind to systemic evil. All the while, mere drugs are celebrated for being “legal”, sex is peddled like a COMEX commodity, and corporate/banking manipulation of political office goes on unabated, unchallenged, and largely unopposed.

    Sobriety and sanity cannot come quickly enough. And if it takes full-blown, massive economic depression to achieve it again, then (while I don’t like it) I’m all for it. What is, after all, the alternative? A people drunk on their own self-importance? A people who actually believe the lie that democracy, capitalism and moral/spiritual character are disconnected? Nothing could be further from the truth. A democracy of demons would STILL equal hell. There is no virtue in a noble idea without the necessary virtues inhabiting the human heart. If we’re going to choose selfishness, egomania, lies and corruption, we will take our nations down with us. And their punishment and demise will be justified.

    So, here’s to sobriety before it’s too late.

    • Jagrick

      Sobriety as in doing drugs, smoking weed, drinking. Don’t do any of them and you are better off without the change in temper.

      • http://www.facebook.com/profile.php?id=719971429 David MacKenzie

        No, sobriety as in “get serious before it’s too late”.

  • DaytoDay

    This is what I expected.

    I like the new commenting system Michael, but it’s going to take some time getting used to.

  • MB

    Hey Michael, whats with this new trend of allowing profanity spitting out of low-class, liberal, Godless mouths in the comments section of your blog? Didn’t used to be like that.

    • MichaelfromTheEconomicCollapse

      I apologize. The profanity filter is not working correctly. Everyone please be mindful that if you do use profanity or racist language or make violent threats that I will have to adjust your commenting privileges.

      • DownWithLibs

        I see you made a few changes since I was in here last.

      • 2Gary2

        I guess there will not be too many comments from conservatives as they are all racist.

  • MichaelfromTheEconomicCollapse

    I have changed over to a new comment system in order to make things better for everyone hopefully.

    If any of you notice any technical issues on your end, please let me know.

    Also, please keep the language clean. Children do read this site. I am trying to make this site better for everyone that uses it.

    Michael

    • Mondobeyondo

      Might take a day or two to get used to the adjustment cure, um CURVE… for the new commenting system. But I’ll adapt. Change is constant. The dinosaurs never changed, and look what happened to them.

      • MichaelfromTheEconomicCollapse

        I am hoping this system will be better.

        Does anyone else have any additional feedback?

    • http://twitter.com/Siborg6 Mark Caldwell

      God bless you. :)

    • MeMadMax

      Disqus is da best, thank you michael.

  • Mondobeyondo

    An ode to the demise of Hostess Brands:

    “Bye, bye, Miss American Cream-filled Sponge Cake
    Drove my Chevy to the levee, but the levee was dry
    Those good old boys were drinking tequila – but why?
    This’ll be the day when I cry”

    Oh, by the way: 18,500 people just hit the unemployment line because of this.

  • DownWithLibs

    BTW, get your Twinkies and HoHo’s while you still can!!

    • Jagrick

      No great loss and ha ha at the union employees that was striking against them.

  • MichaelfromTheEconomicCollapse

    I hope that everyone is enjoying the new comment system.

    Now, if you register with Disqus you will be able to post a comment right away without going through moderation. This should greatly improve the flow of the conversations. In addition, you will be able to choose your own comment avatar when you register with Disqus. Registering is free and it only takes a few moments.

    Any comments from unregistered users or that are caught by the profanity filter will still be moderated by me.

    Please keep the conversations clean. Many children come to this site and read the comments.

    The goal is to improve things for everyone. Hopefully this change will do that. Change can be frightening, but I am hopeful that this change will be for the best.

    Please feel free to post any feedback about the new system that you may have.

    Michael

    • Washington76

      I prefer the other for privacy actually, because this is a tracking, and logging trap, along with your profile, and every word or thought you post. Profiling? You bet ya!

      • condaggitt

        http://www.ghostery (dot) com but on some sites it interferes with on line bill payments..or some bank statements..so you need to turn it off…

        • Washington76

          Thank you!

  • Nickelthrower

    Well then, now everyone can see my uberkool Disqus Avatar – enjoy! in so far as this article is concerned, I believe that these bad numbers have been with us for a while but kept hidden due to the election.

  • http://www.facebook.com/profile.php?id=100003865460953 Susan Miller

    My friend is a broker and he summed it up this way.Neither Romney nor Obama was a good choice however he did say with Romney we would have bought some more time 2 to 3 years tops. Now the deal is sealed within 14 months or less he is expecting a meltdown and he said I’m being overly optimistic. All i can say if you haven’t started preparing the door to the Ark is about to close.

  • http://www.facebook.com/UFODave Dave Halpern

    Comrade Obama’s Cloward Piven strategy is moving right along.

  • mainstreeteconomist

    You know the US economy is going to hell when the Twinkie factory closes their doors for good!

  • http://www.facebook.com/adam.mcelwain Adam McElwain

    Michael is a crazy Christian doomsdayer who writes this pathetic overly negative blog. Michael = crazy negative loser. There have been problems in the world ten times worse than the problems now. Get a life and stop reading that insanely nuts Bible that deserves to be burned. The world is only 8,000 years old. YEAH RIGHT. By the way, the pictures you use are lame and look like they were picked by someone in high school.

    • Nickelthrower

      I may not agree with the Christians that visit this site but Michael points us to trends that the MSM misses. It isn’t any different than RT which can be a good news source after you filter out the Russian propaganda. It is a tool and I want to have as many tools in my toolbox as possible.

      Were we to listen to guys like you then there would be nothing online but yahoo news.

      • http://www.facebook.com/adam.mcelwain Adam McElwain

        You are NUTS.

        • Nickelthrower

          Oh, now I understand. I’m talking to a child. As soon as someone responds with an insult, I know I’m talking with someone that is not mature enough for adult conversation.

          Good luck with the “social” media community.

  • MichaelfromTheEconomicCollapse

    Nicholas:

    For the moment, college is not a bad place to be if you are already there. At least you don’t have to deal with the real world yet.

    Here is one thing that I would mention for college students. I found that I never had more free time in my life than when I was in college. Instead of running around and having fun with all that time, take some of it and start up a side business. I wish that is something I would have done when I was in school.

    Here is an article where I discussed some of my other thoughts on preparedness…

    http://theeconomiccollapseblog.com/archives/how-to-prepare-for-the-difficult-years-ahead

    Michael

  • condaggitt

    nick:

    does your college have a radio station? You could use it to start your own show and who knows where that might lead to…doing a 1 hr talk show once a week is hard work. lots of prepping…and most of all it teaches you how to be good at SEARCH……..most kids dont know how to use the internet they all have smart phones and use apps….

  • http://www.facebook.com/adam.mcelwain Adam McElwain

    Jesus is a man made cartoon character.

    • MB

      Cartoons are for children. You are an adult child.

    • Patriot

      Prove it.

  • http://twitter.com/dchrist81 david christoph

    might Americans have made better choices in the election if these numbers were more widely reported?

    • MB

      Unfortunately not enough to make a difference David. Maybe Romney would have lost 19,010 to 15 instead of 19.025 to 0 in some districts. You can’t fix stupid. Also, with conventional media so slanted there is no such thing as “widely reported” anymore. Thank God for the internet and people like Michael.

  • http://www.facebook.com/adam.mcelwain Adam McElwain

    Michael has been wrong about the world economy collapsing about 2,000 times by now. I have lost track. Now he is just saying it will collapse at some point or that it is slowly collapsing. back and forth he does and he has no true idea what is happening. There is no such thing as a slow economic collapse. It either collapses, or it doesn’t. Michael has lost all credibility for anyone with brains.

    • MB

      If you’re so smart, why do you continue to come here and read? Do us all a favor and disappear into your own little world.

  • http://www.facebook.com/adam.mcelwain Adam McElwain

    Keep on giving Michael money you sheep. He feeds his overly negative and wrong predictions to you so he can make money off his advertisers on this dumb blog. He is just another greedy pig.

  • Patriot

    INNOCENTS BETRAYED – The TRUE story of GUN CONTROL WORLDWIDE – (Graphic Images)

    To all of those who voted for the anti-Constitutional, anti-gun obummer, spend the 1 hour to watch this video and see what happens when people just allow their guns to be taken. Socialism and communism follows, along with genocide, holocaust, death, destruction, loss of any kind of freedom, torture. You have no idea what you asked for supporting obummer. You listened to all his promises of more food stamps, more healthcare, more government assistance, free obama phones, etc. To all of you entitlement crowd, consider what it will be like when you are dragged off to a concentration camp. Dont’ think it can happen in the USA???? It will most assuredly happen should firearms be taken away from citizens…….and obummer has made his intentions very clear, yet sheeple ran out to vote for him and cheered and celebrated with his re-election. It just amazes me how dumb and naive people really are, thinking only about their selfish immediate needs, (welfare, foodstamps, healthcare, immigrant entitlements, etc) rather than consdiering the future, big picture of life in the USA.

    http://youtu.be/iDivHkQ2GSg

    In this powerful documentary produced by Jews for the Preservation of Firearms Ownership (http://jpfo.org), you will learn how governments have historically deprived people of firearms … and then wiped them from the face of the earth.

    This is the true story of Gun control from around the world, especially in the 20th century. It details how governments have ALWAYS BEEN the biggest threat to the safety, security and prosperity of the people. While Americans can see how this could happen in other countries, most can’t EVER imaging it being able to happen here because there are so many rights guaranteed by the constitution. But that ONLY when the people STAND UP for those rights, because it’s the nature of government to constantly try and TAKE them away from us.

    The producers of this film encourage copies of this film to be distributed as far and wide as possible, with the understanding that this permission is granted ONLY for non-commercial use. You can buy a DVD copy of this and other films at
    http://shop.jpfo.org/cart.php?m=product_detail&p=110 and http://jpfo.org/

    Our forefathers, weary of the oppressive measures that King George III’s government forced upon them, in common declared their independence from England in 1776. They were not expected to be successful in that resistance. The moneyed people had backed England for two major reasons. First, our forefathers wanted a rigid, written Constitution “set in concrete.”

    “No Free man shall ever be debarred the use of arms,” wrote Thomas Jefferson.

    “Americans have the right and advantage of being armed — unlike the citizens of other countries whose governments are afraid to trust the people with arms,” argued James Madison.

    As Thomas Jefferson said “Experience has shown that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted into tyranny”.

  • 2Gary2

    the conservative reign of terror is coming to an end. More and more people are seeing conservatism for the malignancy on this country that it is.

  • Rogoraeck

    Quote: from

    The Republican Party Must Perish

    Greg Johnson

    For instance, why not propose radically egalitarian tax policies?
    Since the Federal government could go back to funding itself with
    tariffs, how about zero income or capital gains taxes on the first $1
    million/year — and 100% confiscation of all income, including capital
    gains, above $1 million/year? But since we want to encourage artists and
    inventors who actually create new things (not performing artists), why not exempt them? Why not adopt a Social Credit economy and simply abolish usury? Why not run on a platform of complete debt repudiation?

    But
    wouldn’t America’s richest people, 35% of them Jewish, just up stakes
    and leave the country? Wouldn’t they renounce their citizenship and move
    to places with less burdensome taxes? Yes, of course they would. But we want them to leave.
    We want anybody who can’t make ends meet on $1 million/year, and who is
    rootless enough to renounce his citizenship over money, to leave. We
    don’t want people like that having any say over our politics. If we are
    going to regain control over our destiny, they have to go.

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    Like it makes any difference what party gets elected, they are all corrupt and in the corporations pockets anyhow. I hate how people say that half the country doesn’t pay any tax when there are taxes on literally everything from sales taxes to gas taxes to alcohol taxes and on and on and on. The wealthy people in this country are greedy and traitorous they dont care about America one iota. They would rather outsource all the good jobs to China and India so they can make a few more billion dollars and sell out the middle class here, then they dont want to pay any taxes so they can make another few billion for their greedy selves. Now they want to hoard all that money and not invest it. As far as Im concerned they are criminals and so are the politicians that have enabled them with their policies. The government isnt by the people for the people anymore, its by the corporations and billionaires for the corporations and billionaires. The founding fathers would be spinning in their graves. When are Americans going to wake up and take back their democracy? I hope soon…

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    fuckin waste my time writing a post for half an hour and then dont post it FUCK YOU!!!!!!!!

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    your blog licks my asshole anyways piece of shit muther fucking scum bag

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    fuck you

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    i dont have a job so i can do this all day, everyday, you scum bag piece of trash, i fucked ur mom

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    your blog sucks dick

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    and so do you

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    cocksucker

    • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

      you suck dick

      • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

        asian dick

  • http://www.facebook.com/nathan.wasson.9 Nathan Wasson

    i fucked ur grandma

  • Mark

    It seems that the blame game has started again. Where almost half of the population has blamed this on squarely on Obama and the almost other half has blamed it on Bush. Was it just a month ago that unemployment dropped from 8.1 to 7.8 percent? I know from the get go that things are not in that great shape economically and it will get worse. It doesn’t help that super storm Sandy has caused so much damage in the NY area and we all have to pay for the price of rebuilding.

    I have been keeping my house in order and tell myself I am somewhat I good shape in weathering the future economic storm. I take it day by day preparing what lies ahead in the future.

Emergency Essentials/BePrepared
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