The Beginning Of The End
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They Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013

Great Depression HeadlinesThe more things change, the more things stay the same.  The Great Depression actually started in 1929, but as you will see below, as late as 1933 the Associated Press was still pumping out lots of news stories with optimistic economic headlines and many Americans still did not believe that we were actually in a depression.  And of course we are experiencing a very similar thing today.  The United States is in the worst financial shape that it has ever been in, our economic infrastructure is being systematically gutted, and poverty is absolutely exploding.  Since the stock market crash of 2008, the Federal Reserve has been wildly printing money and the federal government has been running trillion dollar deficits in a desperate attempt to stabilize things, but in the process they have made our long-term economic problems far worse.  It would be hard to overstate how dire our situation is, and yet the mainstream media continues to assure us that everything is just fine and that happy days are here again.

As I have already noted, the mainstream media was doing the exact same thing back during the days of the Great Depression.  The following are actual Associated Press headlines from 1933…

Decisive Break from Panic Shown in Business Figures

Markets Spurt To New Highs

New Farm Bill to End Depression

And the following is a headline discovery from 1933 that was made by Linda Goin

I was browsing through old newspapers the other day and discovered a page filled with news about the stock market and banks in the Daily Capital News from Jefferson City, Missouri. The date was March 15, 1933, well into the Great Depression, and the news was cautiously celebratory as a headline read, “Era of Fear is Declared at End Now.

The Depression-era classic song entitled “Happy Days Are Here Again” was played at the Democratic National Convention in 1932 and it went on to be featured by the Democrats for many years after that.  The following is an excerpt from a Wikipedia article about that song…

Today, the song is probably best remembered as the campaign song for Franklin Delano Roosevelt’s successful 1932 presidential campaign. According to TIME magazine, it gained prominence after a spontaneous decision by Roosevelt’s advisers to play it at the 1932 Democratic National Convention, and went on to become the Democratic Party‘s “unofficial theme song for years to come”.

There is only one huge problem.

The election of Roosevelt didn’t end the depression.  Years of bitter economic suffering and dust bowl conditions were still ahead.  The Great Depression continued all the way up to the start of World War II, and the war years were certainly no picnic for average folks either.

But at least cheery headlines can make people feel better, right?

That is what some believe.

Others believe that giving people false hope is very cruel and that it sets up people for failure.

The following are some actual headlines that were found on mainstream news sites today…

CNBC: “Recession risk gone in all US states but 1: Moody’s Analytics

CNN: “Foreclosure crisis is drawing to a close

NBC News: “Stocks close near highs; S&P logs 7-day rally

Wow, those headlines sound great!

So are happy days here again?

Not quite.

In fact, things continue to get even worse in a whole host of ways.  Just consider the following statistics…

-According to a brand new Gallup poll that was just released, 20.0% of all Americans did not have enough money to buy food that they or their families needed at some point over the past year.  That is just under the record of 20.4% that was set back in November 2008.

-Gallup also found that the ability of American families to meet some of their other most basic needs is near an all-time low…

The Basic Access Index, which includes 13 questions about topics including Americans’ ability to afford food, housing, and healthcare, was 81.4 in August, on par with the all-time low of 81.2 recorded in October 2011.

-More than 90 million working age Americans are considered to be “not in the labor force”.

-The labor force participation rate is the lowest that it has been in 35 years.

-516,000 Americans “left the labor force” last month.  That was a brand new all-time record high.

-The number of private sector jobs dropped by 278,000 last month.

-77 percent of the jobs that have been “created” so far this year have been part-time jobs.

-Approximately one out of every four part-time workers in America is living below the poverty line.

-Right now, 40 percent of all U.S. workers are making less than what a full-time minimum wage worker made back in 1968.

-The U.S. trade deficit with China has hit a brand new record high.

-The U.S. trade deficit with the EU has hit a brand new record high.

-The number of U.S. households on food stamps is at a brand new record high.

-One of the largest furniture manufacturers in America was just forced into bankruptcy

The maker of furniture brands such as Thomasville, Broyhill, Lane and Drexel Heritage said Monday that it has filed for Chapter 11 bankruptcy protection.

-Total mortgage activity has dropped to the lowest level that we have seen since October 2008.

Yes, those in the top 1 percent are doing very well for the moment thanks to the reckless money printing that the Federal Reserve has been doing.

But for most Americans, the last several years have been a continual struggle.  The following is a list that comes from one of my previous articles entitled “44 Facts About The Death Of The Middle Class That Every American Should Know“…

1. According to one recent survey, “four out of five U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives”.

2. The growth rate of real disposable personal income is the lowest that it has been in decades.

3. Median household income (adjusted for inflation) has fallen by 7.8 percent since the year 2000.

4. According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

5. The home ownership rate in the United States is the lowest that it has been in 18 years.

6. It is more expensive to rent a home in America than ever before.  In fact, median asking rent for vacant rental units just hit a brand new all-time record high.

7. According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

8. The U.S. economy actually lost 240,000 full-time jobs last month, and the number of full-time workers in the United States is now about 6 million below the old record that was set back in 2007.

9. The largest employer in the United States right now is Wal-Mart.  The second largest employer in the United States right now is a temp agency (Kelly Services).

10. One out of every ten jobs in the United States is now filled through a temp agency.

11. According to the Social Security Administration, 40 percent of all workers in the United States make less than $20,000 a year.

12. The ratio of wages and salaries to GDP is near an all-time record low.

13. The U.S. economy continues to trade good paying jobs for low paying jobs.  60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

14. Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

15. At this point, one out of every four American workers has a job that pays $10 an hour or less.

16. According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 declined by 27 percent after you account for inflation.

17. In the year 2000, about 17 million Americans were employed in manufacturing.  Today, only about 12 million Americans are employed in manufacturing.

18. The United States has lost more than 56,000 manufacturing facilities since 2001.

19. The average number of hours worked per employed person per year has fallen by about 100 since the year 2000.

20. Back in the year 2000, more than 64 percent of all working age Americans had a job.  Today, only 58.7 percent of all working age Americans have a job.

21. When you total up all working age Americans that do not have a job, it comes to more than 100 million.

22. The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.

23. The percentage of Americans that are self-employed has steadily declined over the past decade and is now at an all-time low.

24. Right now there are 20.2 million Americans that spend more than half of their incomes on housing.  That represents a 46 percent increase from 2001.

25. In 1989, the debt to income ratio of the average American family was about 58 percent.  Today it is up to 154 percent.

26. Total U.S. household debt grew from just 1.4 trillion dollars in 1980 to a whopping 13.7 trillion dollars in 2007.  This played a huge role in the financial crisis of 2008, and the problem still has not been solved.

27. The total amount of student loan debt in the United States recently surpassed the one trillion dollar mark.

28. Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

29. Back in the year 2000, the mortgage delinquency rate was about 2 percent.  Today, it is nearly 10 percent.

30. Consumer debt in the United States has risen by a whopping 1700% since 1971, and 46% of all Americans carry a credit card balance from month to month.

31. In 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  Today, only 55.1 percent are covered by employment-based health insurance.

32. One study discovered that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt, and according to a report published in The American Journal of Medicine medical bills are a major factor in more than 60 percent of all personal bankruptcies in the United States.

33. Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes.

34. Today, approximately 46.2 million Americans are living in poverty.

35. The number of Americans living in poverty has increased by more than 15 million since the year 2000.

36. Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

37. At this point, approximately 25 million American adults are living with their parents.

38. In the year 2000, there were only 17 million Americans on food stamps.  Today, there are more than 47 million Americans on food stamps.

39. Back in the 1970s, about one out of every 50 Americans was on food stamps.  Today, about one out of every 6.5 Americans is on food stamps.

40. Right now, the number of Americans on food stamps exceeds the entire population of the nation of Spain.

41. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.”

42. At this point, more than a million public school students in the United States are homeless.  This is the first time that has ever happened in our history.  That number has risen by 57 percent since the 2006-2007 school year.

43. According to U.S. Census data, 57 percent of all American children live in a home that is either considered to be “poor” or “low income”.

44. In the year 2000, the ratio of social welfare benefits to salaries and wages was approximately 21 percent.  Today, the ratio of social welfare benefits to salaries and wages is approximately 35 percent.

But there is no way that we are actually in another economic depression, right?

If that was the case, the mainstream media certainly would have told us, right?

According to John Williams of Shadow Government Statistics, if the U.S. government actually used honest numbers, they would show that the U.S. economy has actually been contracting continually since 2005.

In other words, if the numbers were not being manipulated they would show that we have had negative GDP growth every single year since 2005.

I don’t know about you, but that sure sounds like a depression to me.

What do you think?

Great Depression Headlines

  • libssuckobamaslefttesticle

    can the libs chime in and defend the carnage?

    • RarefiedSnotress

      “The top 10 percent of earners took more than half of the country’s total income in 2012.” “Richest 1% earn biggest share since Roaring ’20s” to quote recent stories.
      They’re just being good Republican Capitalists and not sharing

      • uh-huh

        I have to question how you KNOW only Republicans have benefited because Pelosi sure became a millionaire during her term in office and it was NOT because of her hard work and yearly pay.

        Michelle Obama has a net worth of $11 million…doing what?

        Feinstein is worth $70 million.

        Harry Reid is worth $5 million.

        Jesse Jackson is worth $10 million…and how in the world did a Democratic Baptist minister make that much money?

        MOST of these people have made their money during their years in office…and you know their salaries do NOT add up (can you say insider trading?)

        AND your beloved Democrats do NOT share their money with you…they share YOUR money with others. Wonder how many drone bombs your taxes paid for this year? That’s right..>ALL OF THEM!!!!

        So wake up…the greed and evil that pervades this country is not partisan.

        • Nexusfast123

          All brought and paid for by vested interests. The corptocracy at work. The whole system is going to collapse.

      • uh-huh

        From New American Gazette: “But what most people don’t realize is that the Top 3 “RICHEST” people in
        the country are ALL DEMOCRATS. This list includes: Bill Gates, Warren
        Buffett & Larry Ellison are all Democrats. Together, they are worth $126 Billion Dollars.”

        • Adrian

          And you think there’s any difference between the two corporately-owned parties? The joke’s on you. You’re being fooled by the public charade. We have one party: the pro-corporate party, which befits a fascist state.

          • whatever

            it is amazing how when a person gives data, they think it is an opinion and then try to insult….I just shake my head…why don’t you turn that animosity towards the Powers That Be and use it for a REAL good.

          • Adrian

            I don’t understand your post. What are you talking about, exactly?

      • Syrin

        Most of the uber rich are liberal, and capitalism ceased to exist in 1917 with the creation of the Federal Reserve, but keep letting Jon Stewart do your thinking for you like GARY does. It’s cute.

        • harleyrider1989

          1913 federal reserve act

        • Gay Veteran

          you mean like the Koch brothers?

      • chilller

        The republicans made their fortunes during good times for all. The dems make theirs during the bad when ordinary citizens suffer most. If you can’t differentiate which of the two is wrong…

        • Gay Veteran

          PROOF please!
          there is no difference between the 2 parties, they both support empire abroad and the national security & surveillance state at home

          • Adrian

            Right on!

    • davidmpark

      Naw, they’ll just blame someone else, some group they oppose, or something unexpected that ruined their perfect vision of how things should be.

  • K

    It will be far worse this time around. One slight difference, the internet. We can at least find the truth, if we seek it. We can therefore be better prepared, for what is coming. The Lord, some preps, and a few reliable friends. Seek them in that order.

    • MeMadMax

      Yep, some of us are alert more than usual. Internet is a great tool to keep tabs on when the “shockwave” will hit.

      • Syrin

        When the shock wave hits, they will make sure the internet is taken out with the wave.

    • Syrin

      While your point is valid, you do understand that they also know this to be true? They have been testing their internet kill switch. They shut down Google and 40% of all internet traffic a few weeks ago. They shut down the NASDAQ a few weeks ago. They shut down Amazon a few weeks ago.

      Mid November they are running a “power drill” where they will shut down the grid for a day or 2. No one knows the extent of it, or how long it will last, but they could do all sorts of things. Look up what some people predict will happen during that time. A great article entitled (paraphrasing) “When the Light Go Out” will REALLY open your eyes to the possibilities.

      You also understand that most software and electronic devices now have backdoor entries which allow access by the NSA that they can send a disabling virus through to virtually every electronic device that has internet access. These people are EVIL, and they have thought of these things, and worked to remove these obstacles YEARS before most people were even aware of what is going on. We are so far behind it’s frightening.

      • Jimbo

        I lived in England in 1980 near the scene of the St Pauls riots in Bristol. The Government disabled the telephone exchanges for 12 hours so that rioters couldn’t call for reinforcements. Now all they have to do is disable the internet and cell phone networks and jam radio signals. They will have the excuse of preventing a remote detonation of a terrorist device or whatever.

        • Syrin

          I doubt they will even offer an excuse. It will just happen with an announcement that martial law has been declared.

          • Jimbo

            But they will have the excuse ready. The economy will collapse, martial law will be instigated, savings confiscated and it will all be in the “national interest”. The sheeple will believe that they have been saved by the Government. Much like the Nixon shock was blamed on attacks from overseas speculators, the next crisis will also be blamed on somebody else.

      • K

        Yes, I am aware of the things you mention. The grid test should be interesting, because like you, I suspect it is more than just a test of the grid. As to the internet kill switch, the internet will have done its’ work by then. Those that can handle the truth, will already know it. For the rest, the truth will be looking them right in the eye. It will just be too late, to act. Sad, but the truth was available if they wanted to know it.

      • Gay Veteran

        I have a serious question. Do you think that people who post criticism about Obama and TPTB get hit with a computer virus? I think it is very possible.

        • Jimbo

          My serious concern is Virus related. The world is overpopulated and the elites of the world could get by with maybe a few million serfs. Vaccinate the ones you want to keep and let loose a virus to remove the ones you don’t need. No revolution, no blame. Easy and scary.

          • Gay Veteran

            plus the total FEAR would strengthen government even more, see “V for Vendeta”

  • 2Gary2

    We need to stop chasing the fantasy that helping the rich grow richer will somehow “trickle down” good times to all the rest of us.

    “Giving tax breaks and other benefits to the wealthy,” Olinsky and Post conclude, “will only perpetuate the current era of diminished mobility.”

    Oh yeah–yet another study advocating taxing the rich hard and spreading the wealth. You all know I am right about this.

    • Crat

      2Gary2

      I know you get a lot of heat sometimes with your comments. Keep them coming. You force me to think about some things. Simply taxing the rich more but not controlling spending doesn’t solve the problem. But taxing the hell out of some of the crooks that have profitted at the expense of our society sounds enticing. Better yet, clawback and prosecution.

      • Jimbo

        Governments spend too much. They have too much power and they have created a population reliant on Government for almost everything. That is the root cause.

        • Rodster

          You are in trouble as a Nation when the Govt sees itself as the Solution rather than the PROBLEM because when it takes on that role it becomes an Empire.

          And ALL empires end in collapse as history has taught us. They get too big and can’t support itself.

          • Jimbo

            We elect them to represent our interests and they use that power we have vested in them to make us serve their interests. Democracy is a million people endorsing a candidate with their individual vote for the collective good. The candidate is the individual who believes that he has been given carte blanche to speak for the million people who voted for him.

        • Adrian

          You’re looking at the old dichotomy. It is no longer gvt and corporate/private. The two have merged. Government only helps the corporate and the elite classes now. Why else do you think the top 1% was not only kept afloat by our tax dollars, but they’re the only group to thrive from the dismal economic situation?

          • Jimbo

            I totally understand your point but is what you describe not a function of a government that is too big?

          • Gay Veteran

            it is a function of FASCISM: the merger of state and corporate power

          • Jimbo

            Government gets too big when we cease to take an interest in government.

          • Gay Veteran

            Government gets too big when the powerful take it over for their benefit.

          • Adrian

            It is, and one that has escaped the control of the people it supposedly represents. Government is necessary, and provides many services that people rely on to live well. It contains two parts: a service and redistributive component, and a coercive component. The former has been cut to the bone on purpose, and the latter is expanding to the point where we can not seriously claim to have a democracy, or even a republic.

          • davidmpark

            Um, the US doesn’t have a “1%” anymore – if that’s really what they are (never bought into this socialist illusion of constantly rich Olympians on high nonsense). Most of those folks renounced their citizenship and took the money with ‘em.

            Besides, that whole thing of 1%, 99% is only marketing to sell theft. It’s emotional cover for “take from anyone; regardless of situation, class, or income level, who legally possesses what I want and give it to me.” I can’t live that way; lost too much already.

          • Adrian

            The 1% is another term for the elites, those who have amassed so much wealth and power that they have bought the government. Not only are they real, despite your strange denials of reality, but they are amassing even more wealth every year while the rest of the country struggles, to varying degrees. Your libertarian-style arguments about theft are as old as they are meaningless, and the real irony is that the real theft taking place is these elites robbing the people. What else would you call it when by the nature of our economic system, people have been made dependent on others for employment, and those others are these very 1 percenters, the owners of the means of production and capital. These people, in an effort to extract more wealth, have been raiding the public sectors of the third world for the last 40 years with their Chicago School neoliberal playbook, and now they have come home to raid the US public sector, trying to privatize education (NCLB), social security and medicare, prisons, and everything else that the government is still involved in for the public good. (that’s probably another word you shun, judging from your uninformed views). The real theft is downsizing people and forcing those frightened few who remain to do the work or 2 and 3 people, while slashing benefits and threatening loss of job just so those at the top can go from millionaires to billionaires. There’s no need to take so much from the people, because now they have so little money they aren’t buying, and the economy isn’t recovering. You want economic growth, you need a thriving middle class with money to spend in large amounts. The thing is, this lopsided arrangement can’t last forever, and what is being taken from the people will be taken from the rich, one way or another, whether you agree with it or not.

          • davidmpark

            Why say things like “despite your strange denials of reality”, and “Your libertarian-style arguments”? That’s not the way to win friends and influence people.

            That’s why I was turned off by all Left, Right, and Center – it’s always about why I’M wrong, or why I need to change, or MY mistakes. It’s not about me – I have no power over this – and I don’t give a #$&% about ideas and politics that can’t work!

            And it’s always the same with all you lot on every side: if I’m not gonna kiss up to your views – I’m automatically sided, in your view, with your enemy until I play ball!

            You know, I think we should collapse – just so all sides can finally have it out and kill each other in a full-blown, total civil war!

            No, seriously – this is enviable. Do you know what it feels like having to shoot some other mother’s son, Adrian? How ’bout you, Syrin? Does 2Gary2 know what it feels like to get shot? Ever been tortured by being whipped with live electrical cords? Ever been chased into the woods and hid there with no provisions for nearly a week? Have you ever held you first born son’s body and wept over him? Ever lost all you had in a matter of hours? I do! I’ve had to defend myself, and I’ve taken hits!

            Where were your politics to soothe my grief? Where were your political brethren to watch my back? They were in front, pulling the triggers and moving the knives that cut my flesh!

            Screw your ideologies – all sides. I live to create wealth taken from God’s earth to further my family (’cause they’re all I got left!) and I help out who needs it ’cause were human – not because I have some erotic lust for a political ideology!!

            You all wanna keep on this path – fine! Leave me out of the bloodshed. And when you’re all dead and dying, my son and I can give you all a decent burial – it’s the least we can do.

          • Adrian

            Why are you descending into this rant? First, I don’t want to come across as hostile to you, so I apologize. It’s just that on boards such as these, the other side never accepts facts or evidence, even when it is shoved right in their face, hence the sense of frustrated futility. I hope we don’t descend into civil war; one look at the tragedy in Syria is sobering enough to avoid that. When I was 19 I stood in the Auschwitz museum and saw the heaps of clothes (children and adults alike), eye glasses, shoes, suitcases, the discarded canisters of Zyklon B, like empty coffee cans. I have seen some really sh***y things. Where did you have these experiences you were taking about? My point is that the state exists to help ALL people, not just a few. This country used to be democratic, but that has been gradually taken away, and what is being put into place is unjust usury. Jesus preached against it, as did many nonviolent great men like MLK. I’m not ok with the old slogan of ‘the poor deserve it because they’re lazy’, and ‘the rich work hard and deserve their wealth.’ That is total hogwash and the world is far more complex than that. I know it won’t happen, but if we could retrun to the era of the 50s and 60s with strong progressive taxation, strong unions, strong regulations on capitalism, then all people would have a decent chance to improve their lives, and we’d all be the better for it, and safer, and more humane towards one another. If people hate the sound of this, so be it.

          • davidmpark

            Because I refuse to let others define me. That is a method to gain power over another – And I refuse to allow a religiously socialist fanatic to have power over me again.

            I don’t care that you’ve been to the Auschwitz museum; I had to experience it. And don’t think that means you have a moral authority: “The other side never accepts facts or evidence”, “…despite your strange denials of reality…” Your words prove otherwise!

            Now, would you kindly answer these questions: Do you know what it feels like having to shoot some other mother’s son, Adrian? Know what it feels like to get shot? Ever been tortured by being whipped with live electrical cords? Ever been chased into the woods and hid there with no provisions for nearly a week? Have you ever held you first born son’s body and wept over him? Ever lost all you had in a matter of hours? Where were your politics to soothe my grief? Where were your political brethren to watch my back?

            These folks who perpetrated this were a mix of all sides of the political spectrum. But the far left did the worst of it.

            Now, would you kindly tell me why should I believe anything positive about socialists and their beliefs?

          • davidmpark

            If anyone is wondering, the comment deleted below was also sent to my email. It was from Adrian that said, “Shut up you #$%& #$%&$.”

            And he’s a political scholar…

    • MeMadMax

      sigh… you keep harping the same thing over and over again(not just in this post)… well guess what? Your wish will NEVER come true.
      Why?
      Because it’s called THEFT. Also the politicians fall into the same exact category you hate so bad.
      Not even the communists did what you want, why? Because there are ALWAYS haves, and have nots…

      So, just face the fact that you are NOT the top dog and NEVER WILL BE, just like the rest of us, and go bury your head in the sand while you cry yourself to sleep….

      • 2Gary2

        if we all thought like you then nothing would change. I admit it will not be easily, however, look at how much the whole topic of wealth and income inequality is in the news etc. Fast food strikes etc. I predict that the pendulum is starting to swing towards a more fair distribution of wealth and income. We are at the very beginning and I truly believe future generations will look back and wonder how we could have been so dumb to let things get as bad as they are.

        • Syrin

          That’s bound to be encouraging. What you “think”. That trumps all economic data, all the actions of JP Morgan, Goldman Sachs, central banks across the planet and $200 trillion worth of debt. You “think” we’ve turned a corner as our debt grows, interest rates on that debt increase, we approach war, we lose more rights, unemployment rises, people’s hours are cut back, and inflation is increasing. Well what you “think” certainly comforts me and made reality just disappear. I assume the hundreds of articles Michael post loaded with raw facts, data and hundreds of links are works of fiction to you. I bet you think Detroit is an ideal vacation destination, not the ravaged corpse of what unchecked liberalism does to a society.

          What color unicorns inhabit the world in which you live?

          • Adrian

            You speak of the surveillance state and lost civil liberties, and I wonder if you are even aware that that was made possible by private corporations working with the federal government?

          • Gay Veteran

            “…Detroit is an ideal vacation destination, not the ravaged corpse of what unchecked liberalism does to a society….”
            WRONG, Detroit is what unchecked korporate power (FASCISM) does to a society. It was korporations which shipped American jobs to China, India, Vietnam, Mexico, etc.

          • afchief

            Wrong! High taxes and excessive regulation is why corporations move out of country, PERIOD!

          • Gay Veteran

            Like all those korporations that pay little IF ANY taxes?
            Don’t like regulations? Move to China and enjoy the polluted air and water

          • afchief

            Typical stupid liberal with NO knowledge of economics or captalism!

          • Gay Veteran

            typical troll, can counter an argument

          • afchief

            Are you that dumb to think that businesses move out of country because of greed and excessive regulation is all about clean air and water? We have the highest corporate taxes in the world and the most stifling regulations in the world that are totally anti-business. Try starting a business up today. It is practically impossible.

          • otter1111

            Detroit has been under unchecked democrat control since 1961. But people will continue to make excuses and blame everything but the democrats in charge.

        • Rodster

          You seriously buy into that Gary? I see just the opposite which an implosion and collapse of a corrupt economic system. And until there is a reset of all debts worldwide we will become a turd world country. Which is why Nations are moving towards a one world govt with a one world currency headed by the UN.

          • Adrian

            Talk about conspiracy theories. There is nothing even resembling a one world government on the horizon! Do you think the US, or any sovereign state, would cede its sovereignty to another entity? I guess you’re not aware that the US is a permanent member on the Security Council, which can do nothing if the US or any other state votes no. Where the hell do you get your information…Glen Beck??

      • 2Gary2

        and another thing–I would say that giving tax cuts to the rich is the real theft–theft from the rest of us who have to make up the difference and suffer with sub par services etc.

        • MeMadMax

          yea…. you really think the government is gonna tax the rich and give to the poor… heheheheheheheh hahahahahahaha…. jokes on you >_>

          • Adrian

            No way, the government is owned by these 1% elites, who own the means of production. The gvt stopped being responsive to the people a long time ago.

        • Syrin

          Do you even LOOK at actual DATA ?!?!? The rest of you make up the difference ?!?!? HALF THE COUNTRY PAYS NO TAXES GARY !!!! How in the HELL is that “making up the difference”?

          Do you KNOW what the word “deficit” even MEANS ?!?!? It means that NO ONE made up the difference. You are too stupid to even be included in this conversation GARY. The difference has been “made up” by the Federal Reserve literally making up 80 billion new dollars out of thin air every month, and even THAT doesn’t “make up” the difference.

          Answer this BASIC question Spanky. If the Federal reserve can just print $80,000,000,000 a MONTH , then WHY does ANYONE need to pay taxes ?!?! Why don’t they just print $250,000,000,000 a month and let people keep THEIR money to invest, hire, create ? Yeah, too complex for your ability level.

          GARY, why was our most PROSPEROUS time, as shown here by Michael, when we had NO INCOME TAX ?!?!

          We need a new word that accurately describes uber voluntary delusionary thought. I would just call it GARYISM.

          • Adrian

            25% of the big corporations pay no income tax, and it depends on what you mean by “our” most prosperous time. If you mean the middle class, it was after WW 2 until the early 70s, when there was a major income tax that redistributed capitalist profits to the middle class. IF you mean the top 1%, then yeah, you’re probably correct.

          • Gay Veteran

            “…HALF THE COUNTRY PAYS NO TAXES….”
            that is a right-wing LIE, most of those people pay sales taxes, gas taxes, property taxes (either directly, or indirectly thru rent), phone taxes, sewer taxes, etc., etc., ETC.

          • 2Gary2

            its a lie to say 1/2 the country pays no taxes. study after study have shown that everyone pays about the same rate when all taxes are included. You can not just cherry pick facts and expect to be taken seriously.

          • 2Gary2

            syrin–looks like several other posters have called out your bs. sorry hoss you are wrong again.

          • Hammerstrike

            No, half doesn´t pay federal taxes but these aren´t the only taxes there are.

            Inflation is a taxe.

      • Adrian

        Theft?? Have you ever heard of the social contract? Where do you think our global military comes from, if not by ‘theft’? If not for the protection of the state, supported by taxation, where do you think any businesspeople would be able to set up shop[ and make profits without it being looted? Lastly, if trickle down economics worked, we’d have a thriving middle class and full employment. Instead, we have an economy on life support> And don’t try to blame the government, as the government has been deregulating everything as fast as it can, and that has caused these problems (Enron, the 2008 economic crisis, etc.)

    • Syrin

      So why is that as tax rates on the producers have gone up, the economy has gotten worse by every objective metric? In fact, it’s gotten so much worse they have decided to not even report the debt any longer. Do you even try to apply your random quotes to the real world? I have DOZENS of studies proving you wrong. I have quoted them, linked them ad nauseum, but it’l like trying to teach basic algebra to a talking sea sponge, or rather, in your case, the pet snail of a talking Sea Sponge.

      • Gay Veteran

        the economy got worse because of the Wall Street banksters and their greed

      • Adrian

        It hasn’t gotten worse on the producers/elites/top 1%. Look at all the evidence that was released last week. Second, taxes on the rich and on corporations have been DECLINING…ever hear of the Bush tax cut that was passed 12 years ago, and continually renewed since then by both parties in Congress? Tax rates have gone DOWN, and that’s why people are saying tax rates haven’t been this low since the gilded Age of capitalism! Hmmmm, maybe that’s why things are so rotten now with the economy? The bulk of the population has no money to buy goods…you know, the stuff that stimulates an economy??

  • markthetruth

    Tesla is causing Hype because of Stock price but just to get Publicity . Save Money and 0% Pollution(Yea Right !) and Cost $580 a month plus insurance and the Electric Bill and Replacement Batteries.

    With California , Texas and others can afford for people to run their air conditioners in a heat wave.

    How can the people that can afford these cars which live in California where are they going to get the excess Power from power these Cars. Well For now it’s Coal from inside and Five outside states. That now are going to have to up there output which means more Pollution to get the output counter acting the Cars.

    Now come the Electricity if you think that if the demand go way up because of Cars that the Price is going to stay where it is, It’s going to skyrocket Supply and Demand.

    And the disposal of all the Batteries.

    The Law of Physic states yo can’t get more energy out then you put in Period . And that the Facts and engineers and scientist have been spending 100th’s of billions they to prove they could and Failed . It’s the Law of Nature and Physic’s

    So no matter what they come up with it Will Alter Nature in some Way or another and Cause an Issue. Take it to the Bank , But they will try to Convince you on this False Theory Too !!!

    the end…

  • 2Gary2

    Michael–No one I know even pays the main stream media any attention. Here in the Milwaukee area there is a dispute between time warner and the local NBC station and I wrote in that NBC is trash and they should take it off cable.

    • MichaelfromTheEconomicCollapse

      You are right that faith in the mainstream media is certainly on the decline.

      That is one reason why so many people have started to search out alternative sources of information such as this website.

      Michael

      • Adrian

        All the mainstream news outlets are corporate owned, and are increasingly being consolidated into an ever smaller circle of ownership, close to a monopoly. Thus, you hear what they want you to hear. I started reading alternative news sites over 10 years ago, and have never regretted it for one second. People who get their news from the mainstream are always surprised when crises unfold, whereas those of us who read other sources see them coming from a mile away.

        • Gay Veteran

          Started consolidating under Clinton, who also gave us NAFTA (sending American jobs overseas) and destroyed the Glass-Stegal Act (which unleashed the Wall Street banksters to wreck the economy).
          But liberal hypocrites love them some Clinton.

          • Adrian

            That is correct. Clinton, like Obama, was a wolf in sheep’s clothing. Glass Steagall was also reversed under Clinton, welfare was destroyed, and the floodgates for corporate buyout of the Democratic party ensued. You think these guys just happen along by chance? They are carefully selected by the elites to run, and the elites hedge their bets by ensuring both party’s candidates are THEIR guys.

          • 2Gary2

            right you are my friend!

          • Adrian

            As Chris Hedges says, it is impossible to vote against the interests of Goldman Sachs.

          • Gay Veteran

            yep, because ONLY a Democrat could reverse Glass-Steagall and get NAFTA passed

          • Adrian

            Only Nixon could go to China.

    • Hambone

      I hope that spreads; I have in-laws who can’t go to bed at night if the NBC nightly news doesn’t tell them what to think. I haven’t had TV reception for years, and I don’t miss it.

    • Fred

      Can’t watch any of the government liberal media outlets.
      watch Glen Beck on the blaze ch212 on Dish for great unbiased news – THE TRUTH

      • Gay Veteran

        “…liberal media outlets….”
        ROFLOL, most of the media is owned by 6 giant corporations.

        • Hammerstrike

          And they promote liberalism.

          • Gay Veteran

            ROFLOL, yeah, like the fascism we are in

          • Adrian

            Why would corporate-owned media outlets promote anything other than the deregulated version of American capitalism that we have? They don’t. Why do you think everyone is so brainwashed and uninformed (hint, just look at the posts on this site!!)

          • Hammerstrike

            Simple, the banksters have used the welfare state to create a class of professional system parasites, an entitlement mentality.
            The “social justice” usefull idiots have the same intereste as the bansters in avoiding a meritocratic, production and skills based economic and political system, they too are dependent on the workers for a living and thus, have the same interest in keeping the workers subdued.
            The spoiled, negative information imbeciles votes for Obama and thus, supports Goldman Sach, JPmorgan and his other pimps.

      • 2Gary2

        glen beck is crazy and hardly unbiased.

  • frank1569

    Seriously, there’s no reason to act surprised or upset.

    In the dog-eat-dog economic system we all voluntarily agreed to adopt, there is only one inevitable result: a few fat, ruthless dogs, and tens of millions of dead and wounded dogs.

    Anyone think maybe it’s time to try a different system?

    • Rodster

      That’s what TPTB are working on. A one world govt, with a one world currency and the UN being in charge of the whole thing.

  • Rodster

    Only an idiot would say we are not in a Depression and guess what it happened back in 2008-09. When your stock market collapses, your real estate market collapses, your two biggest car companies collapse along with AIG and Lehman Bros who have been around for decades collapse, that’s not a recession. It’s a Depression.

    I told that to one of my customers back in 2009 and she hushed me telling me please don’t say that. It seems she had her proverbial head in the sand and did not want to face reality.

    The western world for the most part is in a depression. Memo’s have leaked that if the US Govt and the Fed had not stepped in back in 2008 the entire economy would have collapsed and there would have been Marshall Law.

    And just think are problem has not been fixed and it’s much worse than it was back in 2008.

    But hey the Patriots are leading the Jets !

    • Jimbo

      What has happened over the last five years is no different to what would happen if I lost my job but didn’t tell my wife. I would pretend to go to work every day and borrow a huge amount of money against my house so that everything appeared normal. She would think things were ticking along nicely until the day dawned when I could no longer borrow and our house was 100% loan collateral. I would have to front up and tell her the truth and at that moment her world would come crashing down around her ears. Homeless and broke in an instant.

      • RarefiedSnotress

        Well that’s a little simplistic. Nation’s economies don’t exist in a vacuum.
        Let’s expand your hypothetical and make the world your neighbors. You lost your job, but Henry down the street owes you lots of money. You can try to make Henry pay off, and might find another job in a meantime. At the same time you may owe Mark on the other block money too. Hopefully, he won’t try to collect from you, and will try to get you another job. Either that or you wife may run off with Mark.

        • Jimbo

          They don’t exist in a vacuum I agree and that I have over simplified my example for good reason. It doesn’t matter how complicated the system is with derivatives, hedging, QE etc. it all boils down to the lowest common denominator. If you consume more than you produce, you become indebted. If you don’t contribute you take. If you look after yourself and others you are a giver and if you live off others you are a parasite. Parasites kill their hosts.

          • RarefiedSnotress

            The USA economy works more as a symbiosis. A parasitic symbiosis doesn’t necessarily kill it’s host.

          • Randy Townsend

            It does if it takes more than the host can endure.

    • rat28

      If you are still watching football, there is no depression!

      • Mondobeyondo

        Only if you join up in the “beer lines”, and let me tell you, they’re several blocks long.

        Otherwise, the depression is in full effect.

    • Gay Veteran

      “…Memo’s have leaked that if the US Govt and the Fed had not stepped in back in 2008 the entire economy would have collapsed and there would have been Marshall Law….”
      more like the Wall Street banksters would have collapsed

      • Rodster

        …and the Big Banks which would have caused a domino effect and would have destabilized Wall Street, the Global Markets and the Global economy. That’s what then Pres. Bush had faced and was given 2 options. Maybe it was all a lie like everything Wash D.C. puts out. But if they had let the Banks and everything else failed there would have been mass panic and chaos.

        I would have preferred they had failed along with GM and Chrysler and just moved on.

        • Gay Veteran

          It was all a lie, the rest of the Big Banks might have failed but live would go on. We need banks, just not any particular bank

          • Rodster

            It may have been a big lie, what is new from Wash DC? Like I said I prefer true capitalism. If you fail as a business you die, there’s no help and we move on !

      • English Kev

        Marshall Law??? Do we all get badges? To quote a probably not so famous Mexican bit-part actor, ‘Badges….we don’t need no steeeenking badges’ Arf arf.

        • English Kev

          Hey, GV, just checked back to source re; Marshall Law gag.
          Note to self,’must reply to original source’

        • Minerva

          MARTIAL law…not “marshall.” It has nothing to do with marshalls. Geez.

    • RarefiedSnotress

      Just because someone doesn’t agree with you doesn’t make them an idiot. Being rude doesn’t prove your point.
      Not everyone takes the statisticians at their word, and Depression can be a matter of perspective.
      I live in an area that is statistically high in foreclosures. I go to McDonalds and I see numbers of guys who sleep in their vans or the woods nearby. Yet, the majority of people I see are driving nice shiny cars and don’t look homeless.
      Companies evolve. Those that overextend themselves go bust. America survives on more than cars, Lehman, and AIG. Market sentiment comes and goes.

      When the government stops doling out benefits, then it will be a depression.

      • Rodster

        Well thanks for proving my point that we are in a Depression. Yes our HIDDEN food lines are food stamps, unemployment benefits and welfare. Take those away and you’d have riots in the streets.

        And since the Govt lies about pretty much anything regarding the economy and the Health of this Nation which is clear to see then YES, someone who believes in the lies put forth by THIS Govt is an idiot and the Press-titutes.

        • RarefiedSnotress

          I don’t think anything has been proven.
          People can get Food Stamps if they own their house outright. Does that make them poor?
          The benefits haven’t been taken away. The majority of people are living at least modestly well.
          There is no Depression yet.

          • Rodster

            Since ALL we get from the Federal Govt are lies then YES nothing has been proven based on that. I do see the obvious and it isn’t good and that’s why the obvious tells me we are not in a recession.

            I’ve been thru the Carter, Reagan, Clinton, Bush 1&2 recession and this one is a lot DIFFERENT to me. If one is willing to believe the lies from the Govt then yes we are in coming out of a recession and things are looking up.

          • SmallerGovNow

            RS, please pull head out of fourth point of contact…

          • RarefiedSnotress

            A lot of people are playing the system.. and the system is letting itself be played. Don’t kid yourself.. numbers are skewed. I’m not saying it won’t lead to a painful system overhaul, but we’re not there yet. This is nothing like the turmoil of the 30s, and I’d like to think it never will be. Drama class dismissed.

    • kwik2laugh

      I guess I must be an idiot.

    • seth datta

      It is true how people are dumb as hell and do not want to acknowledge the truth. Truth is whatever they want it to be in their mind’s eye, and does not reflect reality!

      On another note, I remember reading from my history books about a guy who led depression-era Germany to the world stage after a similar episode of currency devaluation in the 1930s. He also was a warmonger. Ring any bells? Our current d1cktator in chief seems to have modelled himself after this man in many ways.

    • Zach Watkins

      I’ve been struggling since I finished college in the summer of 2010. My dream is to work in the courts, law enforcement but it’s almost impossible to get a call back for an interview. I interviewed with Garland, Texas PD for a position in the city jail and I made the final 30 of 300 applicants that applied for the 3 positions.

      I’m not unemployed; however, I’m still a long way from achieving have the steady job that pays well.

    • sherry762

      my Aunty Brooke just got a nine month old Honda Civic Si by working online from home… you can look here w­w­w.J­A­M­20.c­o­m

  • Syrin

    Liberal policies have been eroding this nation for about a century.

    The new American Dream as sold to us by liberalism? Welfare, unemployment, food stamps and disability. All paid for mostly by the Chinese and printed Monopoly dollars. Demonize the few who try to work and be independent.

    • 2Gary2

      OK hoss what ever you say hoss.

      • Syrin

        Facts are hard things to swallow for hopium addicts, Spanky. FDR, Medicare, Social Insecurity, welfare, food stamp dependency, NSA spying the EO’s, all liberalism. Look up the Naazzi platform. It’s a liberal wet dream. All tyrants pushed for nationalized health care and gun control. Facts and history, none of those are your friends. Just the fleas that infest your skin, and even they are probably looking for a more suitable host.

        Care to try to even prove me wrong a bit on facts. Start here. In 35 states, welfare pays more than the average private sector job. That’s liberalism. State dependency, crush the work ethic, buy votes. FACTS Gary.

        Let me try a GARY. Spanky, facts, got it Spanky?

        • Adrian

          Actually, ask any serious political scientist (me, for instance), and they’ll tell you Nazism and fascism are ideologies of the extreme right, not the extreme left. That would be Communism. Were you the victim of private schooling also?

        • Adrian

          Here are some more facts for you: when these ‘liberal’ Keynesian policies were in place, that was the period in which the middle class was thriving like no time in our history. When those policies were reversed with Reagan, Bush, Clinton, Bush, and now Obama, well…read the above article. FACTS are a hard thing to swallow, esp when you are choking on your own self-righteous BS.

          • Gay Veteran

            Agreed. Plus cheap energy, which is now OVER

        • 2Gary2

          if welfare pays more than a private sector job then the problem is the low pay of the private sector job.

        • Adrian

          Would you characterize the Tea Party movement as right or left wing?

      • Syrin

        Oh, and Gary, I mean this with all sincerity. You will not survive what is coming. Liberalism will not survive what is coming. It cannot exist in a society where work, ethics and self reliance are required. If you some how manage to find ANY of those traits, you will no longer be a liberal virtually by definition, but the safety net will be gone, and you will not live a week past that day. I’m sure you have made your peace with whatever you God hating atheists worship, because that day will be here sooner than later for you.

        • 2Gary2

          ok hoss

    • Gay Veteran

      I fixed your sentence: FASCIST policies have been eroding this nation for about a century.

  • RattlerRider

    Good piece Michael. I’ll be in the lower Frank Church Wilderness with the burn barrel on, hot coffee and fresh venison, a couple trout, and howling wolves enduring their own economic strife.

  • rat28

    Based on where I am living now, economy has never been better… Everything is booming here and house price is back to 2007.

    • Jimbo

      Do you live in the UK and read the Daily Mail by any chance?

      • English Kev

        Actually it’s the Express that keeps dribbling on about ‘rising house prices’.
        Do you read The Guardian by ny chance?

        • Jimbo

          I read all of them (for “balance”).

  • 2Gary2

    A friend sent me this–reminded my of syrin on this site regarding the dumb doctors…

    I am 74, have an IQ of 180+, and have figured out that all cops (I was
    going to say pigs, but that would be an insult to real pigs) and most
    Doctors are barely functional idiots (look at Syrin on this site). If you apply to be a cop, you are
    given a sort of IQ test. The highest score you can get is 104, and if
    you ace the test, they won’t train you. With a IQ that high, you would
    about die of boredom and quit, and your training would be wasted. Any
    fool that can pay the bill for med school can become a “Doctor” and many
    fools do. (again syrin I am referring to you)

    • Syrin

      You’re too stupid to even try to dissect my argument, but even WORSE, you’re too stupid to come up with your own insult, so you copy some generic random insult that only applies to me barely even tangentially? Hell, that’s mostly about cops, and care to see the GPA’s of people admitted to med school ? That doesn’t even pass a lay person’s smell test. WOW !!! PLEASE KEEP POSTING GARY !!! I can’t do more damage to your reputation than single post you voluntarily put out there for all to see.

      • Adrian

        This argument that people are poor because they don’t work is disputed by the very story to which you are responding! Scroll up and read the article again. Nowhere is there any evidence that the middle class is being destroyed because all middle class people have simply stopped working. As the Bible says, “The rich work hard and get richer, while the poor work hard and barely earn a living.”

    • Syrin

      Can I play your game? I read a joke about liberals that reminded me of you.

      How do you keep a liberal from getting paid?
      Hide his welfare check in his work boots.

  • time for barry to move on

    wait till barry care kicks in,dude in the white house needs to step down (resign)like nixon, no harm in walkin away,the congress enmasse needs to resign, makes no sense payin these folks to do nothing

    • Syrin

      If he walked away tomorrow, the damage he has done is unfixable. We have been delivered a mortal blow. We just haven’t fully exsanguinated yet.

      • Jimbo

        Looking around the blogs, there are only a handful of us that really grasp what is going on. Those of us that are aware are either paranoid or correct. I am sure that I am correct but that could also be a sign of paranoia?

        What keeps me sane is that I have yet to find a blog entitled “there will be no economic collapse” or “Recovery and Growth to Infinity”.

        In a world of 6 billion people why are there only 100 or so of us blogging about this?

  • Willie Wonkie

    The Great Depression began in 1926, when the Great Miami Hurricane damaged south Florida on 17 September, leaving many to walk away from their mortgages on damaged homes and businesses which were held by northern banks.
    Those banks could not recover from the losses, and tried to hedge with the stock market, thus overinflating it. The second phase occurred in October of 1929, but not before another interim hurricane in 1928 killed 2500 people in Palm Beach County & the Okeechobee region. That cost was also hedged by speculators based upon cheap post-storm land prices that no one wanted to buy…
    Flash forward to Katrina and Sandy, then add this into the equation of Ordo Ab Chao currently underway with endless wars, inflation, economic job collapse, and Mad Max is knocking on your door as a fully-armored militarized cop,…no search or arrest warrant necessary…
    Why, With no job = no income, Joe Blow cannot afford an overpriced lawyer. This is why they are doing what they are to agitate, provoke, and erode one’s worth (listed on the stock market) as a… ‘Human Resource!!

  • Nick-Dog

    “the inflationary of the policies of the Federal Reserve were the primary cause of the Great Depression.” When Hoover was in office, he took inflationary measures to fix the economy, but it ended up making things worse.

    Think of where we are now. Not only is the Fed is pumping like never before, but we are still living in the wake of the New Deal…you know, all those programs that were supposed to fix America’s economy once and for all? Many of those programs and then some are here with us today.

    When the ball drops unmistakably, it will be exponentially worse than the 1930s. And what will be done by the PTB to get us out of it?

    WWIII, as has been said on here before many a time.

    • Gay Veteran

      you do understand that the New Deal resulted in the Glass-Stegal Act which heavily regulated the banks, there were also new laws regulating stocks. All deregulated by Clinton et al.

  • chilller

    Sept. 12, 2013 – CNN: “Foreclosure crisis is drawing to a close”….
    I suppose that’s why the 3 biggest banks in the US are ditching over 22,500 mortgage jobs beginning NOW. Not only are we not so stupid as to believe their drivel…it exposes their child like and moronic attempts to convince us…

    • Gay Veteran

      good point!

  • Primrose

    And a million bikers didn’t show up in DC on 9-11-13 either! If they had the media would have been all over it.

    • Gay Veteran

      why should be care is a million bikers showed up in DC on 9/11?

      • squashpants

        What exactly was the statement they were making with this ride?

        • Adrian

          A million moron march, perhaps?

    • Louise in MO

      I don’t know the exact number of bikers that were there, but there sure was alot of them. They were way over the amount of muslims that had the audacity to pull their stunt on 9/11.

  • T

    You don’t shuffle the companys making up the DJIA twice in a five year period unless you are trying to jockey the average to the upside

  • SafetyViking

    This reminds me of Kevin bacon’s character at the end of ‘Animal House’…

    “Remain calm! All is well!!!” just before he’s knocked to the ground by the stampede…

    Denial aint just a river in Egypt. If you’re THAT blind to the facts around you, you deserve to be run over…

  • Adrian

    What’s scary is at the same time, the 1st, 4th, and 8th Amendments are being/have been erased and the corporate state is spying on all of us, and doing it with increasingly invasive ways every few months and years. Northcomm is training troops in urban warfare and Beta tests have been done to test the ease to which entire US cities can be placed under martial law (Boston). What they’ve found is that their captors cheer and wave flags, chanting USA, and their willingness to be rendered abject subjects is far easier than they had thought. Homeland Security is being militarized for when the hungry crowds finally realize the system has changed and there is no recovery for them, only the richest 1%. That’s when those billions of hollow point rounds, MRAPS, etc. will be used against the angry masses. As Chris Hedges says, it’s going to be a terrifying ride.

  • Adrian

    Michael, what is your solution to these problems?

  • markohio

    First off, kudos Michael for yet another excellent article. I see the Moody’s report as yet just another distraction for the 90%. Or greater quite possibly. Old fashioned math says 1+1=2. Not the ” new ” math of today. Red flags are waving all around us. Few just choose to see them. At least, that’s how I see it. I could very well be wrong. Personally, I am thinking that the Big Event will occur during Nov. 13-14th. During the Grid Down Event. That is when I think the proverbial SHTF. Anyone else feel the same?

  • crat

    Reading the dueling comments between Syrin and 2Gary2 makes me wonder: you guys wouldn’t perchance be married, are you??

    • Gay Veteran

      LOL

    • 2Gary2

      lets just say that I wouldn’t bend over to tie my shoe in his presence. He is nuttier than a squirrel turd and about as smart.

      • Tobias Smith

        gary is married to the gay veteran, they live happily in the NE and take a winter trip to disney every december

  • DJohn1

    Michael, I think you are right about this.

    Consider one of your statements: “When you total up all working age Americans that do not have a job, it comes to more than 100 million.”
    How many of those 100 million people might be registered to vote? Or have a permanent residence that would allow their vote to count?
    Now that is dangerous to the politicians in charge of everything.
    In the last local election in May, our City Council had voted for a raise in real estate taxes. It was put on the ballot. It overwhelmingly failed! Something like 6,000 plus against to 4,000 for. It will be on the November ballot as well.
    I voted. I noticed who was voting. Every senior was out there voting it down! They all made it to the election site.

    Why? Because none of us want a raise in taxes on our properties. Most of those seniors owned their properties outright. When they bought the properties sold for $15-18,000. They are currently worth anywhere from $60-150,000 depending on when they were built and what model home they have.
    Seniors work. A lot of time they need to work to supplement the pensions that no longer are adequate to keep them going. They have Medicare so they need no health insurance from an employer. They are short term so there are no long term acummulation of benefits needed.
    WalMart, McDonalds, and many other businesses have discovered that these are ideal employees and hire them. They don’t need high wages because they use their pensions to live on.
    When I was growing up, a mortgage was for 5 years and people had mortgage burning parties all the time. That was in the “depression” and most people do not remember it.
    Seniors vote. That is the bottom line. Seniors normally have permanent addresses and qualify. We are not afraid to serve on juries because to us it is extra income without penalties.
    The sinking feeling is this President and this Congress failed to give seniors a raise for a long time under their version of COLA. Well we are fed up and we will vote for people that are not in office now, not political parties but if you are in office now there is a good chance at the next major election you will not be. I have spoken with a lot of seniors at church dinners in the last year. Most express that a change in people in office is coming. These people are conservative in their outlook and mostly they do not like changes. But they are not afraid to vote against the people in office now.
    Yes, we are in a depression country wide. It occurred because of changes in the game rules in the Congress in the last 20 years that were designed to do away with the middle class of this country. Well, they succeeded.
    I see a quiet revolution coming. It is not a violent revolution. But it will over throw the current people in this congress. It will throw a majority of them out of office.
    Obamacare is one thing that will bring this about.

    • Gay Veteran

      The youngest generation will come to the point where they will rebel against the system that is transferring their money to seniors.

      • Mary

        Please stop blaming the seniors. They’re struggling just as much as the rest of us.

        • Gay Veteran

          Not blaming, but the poverty rate among seniors is well below the poverty rate for children

          • Tobias Smith

            that is because many seniors grew up in an era of self reliance. they do everything they can to avoid welfare. the kids do everything they can to accept govt bene’s into their life

          • Gay Veteran

            riiiight, SS and Medicare has nothing to do with it

          • ian

            and yet i know of not one young person living off the govt.

      • Louise in MO

        I could tell you many stories about young adults that are sponging off their parents and grandparents because they can’t make it on their own.

        Of course “making it on their own” is way different than when I was making it on my own. Todays youth want gadgets, games,computers, dvd players, ipod, etc. You see, this new generation consider those items “needs.”

        I don’t know one young adult that has put education or training for a job BEFORE partying, fun, and the newest tech item.

        Seniors do not rob the young, and it’s quite supersilious to say so.

        • Gay Veteran

          Seniors are getting back WAY more in SS and Medicare than they paid in.
          Medicare is unsustainable, the system will collapse.

          • Louise in MO

            Social Security is going broke because the federal government used the money, leaving IOUs in its’ place. Of course nothing was or will be paid back.

            Not only did the individual pay into it but those they worked for did the same.

            There was NO lock box!

            I think privatizing social security would work better than the present system. However, that would keep the govt.’s dirty hands off the funds and they will never go for that…..expecially the liberals.

          • Adrian

            SS is running a $ 2 trillion surplus.

          • Louise in MO

            Adrian, if that is true, then why are we constantly barraged with statements on this site and many others about the dire straits S.S. is in and how soon it will be bankrupt. It can’t be both.

          • Adrian

            Because there is an agenda from Republicans (mainly) to privatize it, as their cronies will make billions from doing so. I’ll attach the proof below, but it may take a while before the link I cleared by the site manager for you to view it.

          • Tobias Smith

            hmmm… could you provide a link to your special SS knowledge, I can’t find anything to back it up

          • Adrian

            Sure, I posted a link yesterday, but the site mgr hasn’t cleared it yet. Simply go to Google and type in: social security running 2 trillion surplus and click on the 4th link down. That is directly from the SS administration and they have all kinds of data to substantiate what I said. Happy hunting!

          • Adrian

            I assume you not only found the link, but that it easily dispelled the myth that SS is going broke? Hard to go broke when you have a $ 2.7 Trillion surplus.

          • Tobias Smith

            hmmm… could you provide a link to your special SS knowledge, I can’t find anything to back it up

          • Adrian

            BTW, Pinochet privatized Chilean social security when that fascist implemented Chicago school economics and brutal austerity policies after he overthrew the democratically-elected leader Allende, a socialist. The result: their SS system collapsed, along with their economy.

          • Gay Veteran

            The country cannot afford Medicare.

          • Tobias Smith

            while SS is BS, many of us have paid in plenty of SS taxes and will never recoup what has been taken from us.

        • Hammerstrike

          Consumerism already existed 40-60 years ago.

          Today, youths are poorer than 30 years ago, even if the technology is higher.

  • Trailer Park Investor

    I eat rat meat cooked on a stick over a camp fire,
    sometimes I get a real treat and cook up a cat or a dog, but not very often, any more.
    I live in a card board box down by the river. I know you don’t see me – but I see you.
    I have an empty cardboard box next to me I will be waiting for YOU, I will keep the campfire lit (light on) for you.
    THIS IS OUR FUTURE, IF OBUMMER (AND OUR POLITICIANS) HAS ANYTHING TO DO WITH IT
    Get ready as your NEW future is almost here…….

    • chris

      I don’t want to eat rat meat, can i eat rabbit instead?

  • Trailer Park Investor

    A loaf of bread is taxed 137 times by the time it gets from the seed supplier, farmer, grain elevator, transportation, wholesaler, manufacturer, storage, warehouse again, grocery store and finally the consumer – YOU
    Is it any wonder a nickels worth of wheat to make a loaf of bread cost you $2.00 at the grocery store.

    • 2Gary2

      I would say its the greedy corporations who charge so much and the gov is a minor player at best. The CEO needs those 5 houses you know…

      • maddog

        Correctamungo 2gary2. The gov should take the ceo money and divvy it up to people fairly so the ceo’s can no longer be greedy. If nothing else it will make them nicer people and we won’t be mad at them anymore and they can be our friends again. Actually, I think the gov. should do this type of thing with most area’s of our society. For instance, since hamburger fat is bad for you and it hurts cows too, the government should ban it and have people eat veggie burgers. Then they won’t get fat and it will be easier for them to drive the new electric eco cars. Although they should probably ban the electric motor and install peddles that all the passengers could access to help with climate change and they won’t get fat either.

        • GiantM

          As you already may be aware maddog, Liberals always know best. Their motto has always been; “IF IT FEELS GOOD DO IT”

          Hence common sense flies out the window and another problem is created that was meant to solve the first problem to begin with.

          They are perpetual idiots and sadly that will never change!

      • Tobias Smith

        you are easily the biggest shmuck I have ever seen

    • Mary

      $2.00 for a loaf of bread? I am only seeing prices above $4.00 a loaf here in Florida.

  • SafetyViking

    The sky is falling. Again.

  • XSANDIEGOCA

    Obama Care and Immigration Reform should be enough to shove us all over the cliff.

  • piccadillybabe

    Many of the local food pantries have closed down now because they were just not getting the donations. Some still claim to be making a lot of money in their jobs and have good medical benefits, etc. but I have my doubts about such claims. Why would anyone brag of having such when most do not? According to one health insurance salesman, when I asked about the subsidies, he claimed that most Americans are making over $46K and thus will not be eligible for the subsidies. There is a lot of misinformation out there, a lot of confusion along with a lot of denial. People who still claim to have it good, do not want to know about any who do not. Those are the people who listen to CNN and cable TV. I listen to people who dare to tell another story. Both sides can get tiresome after awhile but somewhere in between it all, lies the stark reality and even that is hard to see because everything is so sugar-coated in the USA. Package it pretty and make it look all fun and happy. Some people are signing up for the one-way ticket to Mars. That ought to tell ya something, eh?

  • squashpants

    DOW POSTS BEST WEEK SINCE JANUARY (on Drudge). This is the cue for our beloved trolls to try to torment us with how stupid our gloom and doom expectations are.

  • kwik2laugh

    Depression…the stock market fell like a ROCK. I do not see anything falling like a rock in 2013. I have heard this “crying wolf” story since 2005. Seems like everyone is wrong, just wrong. In regards to the stock market in 09, it has made a very quick recovery if that was indeed a depression. I just do not see it.

    • Jimbo

      Perhaps you need to open your eyes.

  • DB200

    “The U.S. trade deficit with China has hit a brand new record high.
    The U.S. trade deficit with the EU has hit a brand new record high.”

    Conclusion: China and EU are full of fools who still have faith in the dollar. The Americans are the smart ones who trade real goods for notes that are not even qualified for toilet paper!

  • already gone

    the road warrior rides again, yee hah!

  • 2Gary2

    Hundreds of thousands more jobs could be afforded if there were a little more austerity among the rich, a report just published by IPPR shows. It would not take a near-halving of top salaries – just a slight and gradual reduction of income inequalities would make huge savings every year. This is what occurred in the US between the mass unemployment of the 1930s and the near full employment that lasted into the 1970s. Cutting high wages would allow employers to take on many more employees.

    • Tobias Smith

      you are a communist just like dear leader

      • Adrian

        No, a communist would call for the elimination of all privately owned industry and its immediate control by the state. I don’t Gary is saying anything even remotely like that.

        • Tobias Smith

          then please translate for me!

          • Adrian

            Simply making the rich endure austerity rather than the poor, increased tax rates. End translation.

  • 2Gary2

    All the GOP cares about is its own survival. It is a cancer in the body of our country.

    • Tobias Smith

      yeah, trillion dollar deficits 5 years in a row is fantastic. you read the stats above and still blame Bush, you crack me up

  • davidmpark

    I can’t chime in on this one in detail. Really tired. We had three doctor’s appointments today for my wife’s disability management. Didn’t go well, bless her.

    I like making strange and controversial comments, so here’s one: I think that there are a lot of people that really want this depression to continue. If not, then the actions of overturning a depression – which are always available – would’ve been triggered by now. And (here’s the bigger contraversy) it seems that both left and right are wanting this depression. Liberals, progressives, socialists, etc are easy to understand why they want it – power and death worship. But I’ve met some conservatives, libertarians, and centrists that give lip service to the answers, but want to fail in its implementation.

    This whole thing could’ve been solved decades ago. I guess the depression serves a lot of people’s wants and desires. Not mine; I want it resolved.

    • condaggitt

      Its obvious they want this for some awful reason, or else why isn’t our colored president saying to us We Don’t need a war in Syria we Need a WAR ON EBONICS!

  • David Fuhriman

    Yes, the American economy is in the pits. I know five languages, have three degrees (including two graduate degrees), and have lived overseas for 16 years and I still can’t find a job in the USA. Everything is broken in America. Maybe I should give up my American citizenship. But then, not many other countries are doing much better!

    • condaggitt

      dont forget to run up $200,000 in student loan debt before for you give up your citizensship, they cant sue you overseas

  • Jimbo

    Something that occurred to me. How do you end up on a site called “The Economic Collapse Blog”? It’s not like you have come across it by accident. You are here for the same reason I am here. The system as it stands does not add up. You typed some key words into google search and found this site. If everything in the world was hunky dory, you wouldn’t be typing “Economic Collapse” in your search bar. If the economy was strong, this site wouldn’t exist.

    • GSOB

      True.

      Isn’t that something…..

      • Jimbo

        I get your point to a degree. Maybe God told me to type “economic collapse” into my browser or maybe I just typed it in to see what I would get back. If you believe that God controls everything, then I found this site by design and not by choice. I don’t share that belief but that is based on two simple facts. The first is that if I was being controlled by a God, I would not realise it until I faced my god. The second reason is the same as the first.

        • GSOB

          You got it.

          The Lord brought the animals to Noah.

          You can’t come to God much less save yourself from his judgement.

          The ark was the means of salvation then and in typology – a picture of Jesus Christ…
          that is, a salvation prepared for us in Christ.

          God calls us to come into Christ.

          Have you heard the gospel?

          • Jimbo

            Either you believe that you were pre destined to believe or you make your own mind up. What is the point of life if it is not yours to live?

          • GSOB

            …they deliberately forget that long ago by God’s word the heavens came into being and the earth was formed out of water and by water.

            By these waters also the world of that time was deluged and destroyed.

            By the same word the present heavens and earth are reserved for fire, being kept for the day of judgment and destruction of the ungodly.

            “What is the point of life if it is not yours to live?”

            To live is Christ, and to die is gain.

    • GSOB

      Ever wonder how Noah gathered a male and female specimen of all the animals, to put them into the ark?

    • El Pollo de Oro

      Jimbo: In 2010, I Googled “total economic collapse” as well as “major economic recovery.” I’m a political atheist, to borrow a phrase from Gerald Celente, and wanted to hear arguments in favor of both scenarios. I was hoping to hear some really good, strong, intelligent, coherent, lucid arguments in favor of The Banana Republic of America having a major economic recovery. The bad news: the folks who are obviously the most intelligent and learned (Celente, Dr. Paul Craig Roberts, Chris Hedges, Peter Schiff, Alex Jones, Max Keiser) were also the most pessimistic and offered a mountain of evidence in favor of their arguments. The “don’t worry, be happy” crowd and the Obamabots offered no evidence to counter the cold, hard, facts that Celente, Roberts, Hedges and Schiff were offering. Only wishful thinking. And the “don’t worry, be happy” folks weren’t looking at the big picture; Celente and Hedges were.

      So here we are, three years later. And things have only gotten worse for millions of Americans.

      • Jimbo

        I am here for the same reason. I probably spend more time looking for reasons why the world economy won’t collapse. Like you say, there are no convincing counter arguments. I am wary of the fact that a lot of collapse theory advocates also sell or promote gold. Maybe they are trying to help us out or maybe they are just playing a pump and dump game. My own viewpoint is that a collapse of the current economic system is inevitable and imminent.

    • https://www.facebook.com/beth.s.owens1?ref=tn_tnmn Beth

      I wound up here finding stats for a sociology class:)

  • GSOB

    the real question is…

    how the collapse will effect us.
    We surf about and blog here to prepare and form our own conclusions, plan and prep.

    Aurora CO flooded out was somewhat of a small adventure and did expose some weaknesses in my prepping. Another foretaste of disasters to come.

    It’s wonderful that the folks telling you to evacuate are there at your front door out of concern for everyone’s safety. But I fear the day that when they come, you will no longer have a choice to go or not.

    Even worse, they may force you to go with them!

  • MATT

    ok tonight I eat my pasta that I prepped for the 2012 collapse,lol 2010,nope 2012,now way 2013!…economic collapse coming between today and 150 years from now,PREPARE! NOW!

    • Jimbo

      My “prepping” is nothing more than always making sure we have two weeks worth of food and other supplies in the house. I don’t have any freeze dried survival rations, guns or fallout shelters. I am not preparing myself for the end of the world.

  • GSOB

    The income tax is legalized theft.

  • Tobias Smith

    45. Sheetrock inflation in the last year is over 13%

  • 2Gary2

    The North should have destroyed the South just like Germany destroyed Nazism.

    • Tobias Smith

      you are clearly a racist lib

    • davidmpark

      The North did destroy the South. That’s why “reconstruction” happened after Lee’s surrender at Appomattox.

  • 2Gary2

    As Nick Hanauer, founder of Second Avenue Partners, told Bloomberg:

    “I can say with confidence that rich people don’t create jobs, nor
    do businesses, large or small. What does lead to more employment is the feedback
    loop between customers and businesses. And only consumers can set in motion a
    virtuous cycle that allows companies to survive and thrive and business owners
    to hire. An ordinary middle-class consumer is far more of a job creator than I
    ever have been or ever will be.”

    Syrin–you retarded fool we need to tax the rich and spread the wealth to create jobs.

    • Tobias Smith

      stalin would be so proud of you

      • 2Gary2

        you are a good example of the typical low info conservative–anything they do not get they call stalin, hitler etc when in reality you have no clue.

  • chilller

    Banks and all their antics are considered by the media AS the economy. Banks need to be reduced to banking…not stock traders, not utility managers, not commodity hoarders…just banking… less any fractional reserve BS…BANKING!

  • Wal-Martians

    It’s like that old saying goes, when your next door neighbor loses their job, we’re in a recession. But when I lose my job, we’re in a depression.

  • Tobias Smith

    crime can be reduced by taking guns away from all democrats. they commit the vast majority of felonies

  • Tobias Smith

    yellin as chair of the fed? she is as qualified as Sotomayer the wise latina racist

  • Tobias Smith

    what if they end the fed pump and the market doesn’t plummet, then what? close this site?

    • Jimbo

      It is not just about the Fed pump. It is the debt, the balance of trade deficit, the unfunded liabilities, the housing market, the fragility of Europe, The UK housing bubble, the derivatives market, poor quality jobs, retiring baby boomers etc. etc. etc. I have never seen so many dominoes lined up waiting for just one tiny thing to send them tumbling.

  • Susan Borden

    Drive around Los Angeles at 3:00 AM any day and you will see the devastating and pervasive homelessness from 8 to 80 year olds. And the massage parlors and hookers on the streets of used to be ‘high-end’ neighborhoods are exploding. No other way to make a living.

  • Larry

    I think some people on this website need some intimacy with a silicone doll, like a Realdoll. This, my friend, will make the future more bearable.

  • Piglet

    So often I’ve seen columns with this statement: “We’re a rich country, and we can afford to [fill in the blank with your favorite boondoogle].” It’s time to face reality. We are beyond broke, we’re hopeless in debt, and the government can’t get by without massive borrowing of money that it can’t possibly repay. The jig is up.

  • rat28

    Depression my foot!!.. Stock markets around the world are at record high.

  • Mondobeyondo

    Have you ever heard the Talking Heads song, “Once in a Lifetime?

    A part of the chorus of that song goes:
    “Same as it ever was… same as it ever was…”

    And so it is.
    ———————————————
    Now for some network TV sitcoms… hmmm. “Two Broke Girls” on CBS strikes a nerve. Maybe I should invite their film crew over, so they can start a new series called “One Broke Guy”. Hey, it’s an idea!

  • Reynaldo Neggle

    The thing hiding the fact that we are in a depression is massive entitlement handouts every week to tens of millions of people. We’re borrowing over $1 trillion a year to pay for it. The numbers are going to keep growing and growing until the whole ponzi scheme crashes in on itself. Anyone not prepared or in the top 2-3% is going to see their quality of life dwindling down to nothing over the next 5 years if we make it that long. An economy based on endless growth and consumption is not sustainable You can keep the scam going for a while with clever financial tricks, phony money, and borrowing, but eventually the jig is going to be up.

  • TC

    Its Martial Law for any wondering. Not Marshall Law as indicated below.

  • Anonymous

    Only Hitler can save us now.

  • GM1258

    Seems like every year for the past ten years someone comes out with a new book or video
    claiming the next crash is right around the corner.
    In ’08 they were finally right.
    So how many more times will they ‘cry wolf’ before
    the next meltdown hits??
    If we knew that we could sell short & be millionaires.

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