Will Americans Be Able To Handle The Next Great Depression? Not If They Are Anything Like This Guy

Will Americans be able to handle the next Great Depression?  The truth is that most Americans today simply do not possess the strength of character to handle losing their jobs, their homes and the inflated lifestyles that we have all enjoyed by spending beyond our means.  During the Great Depression of the 1930s, things were different.  Family units were much stronger, people knew how to rely on each other and most Americans possessed enough morality and inner strength so that they did not freak out when things went from bad to worse.

But that is not the case in the United States today.  Instead, Americans have become a bunch of spoiled brats who come apart at the seams at the first sign of trouble.  We pushed prayer and the Ten Commandments as far out of public life as we could and instead we filled our minds with literally thousands of hours of character-rotting entertainment.  Now our families are falling apart, we’ve raised entire generations who expect the world to be handed to them on a silver platter, and we’ve got tens of millions of crybabies who don’t have any concept of how to respond to hard times.

But hard economic times are coming.  In fact, for many Americans they are already here.  So how will most Americans respond when they start losing their jobs and their homes?  Well, the truth is that we are already seeing a lot of people “go postal” because they simply do not know how to handle these setbacks.  Just consider the video below.  It is footage of one of the greatest office freakouts of all time.  If you were to get fired tomorrow, would you react like this guy?….  

The reality is that an economic collapse does not have to be the end of the world.  The guy in the video above could have gone out and tried to get another job or start his own business.  But instead he treated it like it was the end of his life and he threw a massive temper tantrum.

Unfortunately, we are likely to see an increasing number of spoiled Americans throw temper tantrums as the economic collapse goes from bad to worse in the years ahead.  The U.S. financial system is literally coming apart at the seams, and at this point there is very little that can be done to prevent a total economic breakdown.

So we are going to see more Americans trash their homes when they are foreclosed upon, we are going to see more Americans commit insurance fraud, we are going to see more Americans “go postal”, we are going to see more Americans freak out in public and we are going to see more Americans turn to crime.

Why?

Because the collective morality of America has experienced a catastrophic collapse.  People care very little about what is right or wrong anymore.  What they care about is what is going to make themselves happy and comfortable.

The only thing that has been keeping the entire U.S. from turning into New Orleans right after Hurricane Katrina is the relative level of affluence that we are all still experiencing.  Yes, things are not as good as they were, but the United States still has one of the highest standards of living in the world.

For now.

If you want to get an idea of where the U.S. is headed, go spend a few days in Detroit.  Once one of the shining examples of the American Dream, today many areas of Detroit resemble a war zone.  The real unemployment rate in Detroit is somewhere up around 45 or 50 percent and the crime rate is shooting through the roof.  Vandalism is rampant and some houses in the worst areas are virtually unsellable because they aren’t even worth the taxes that must be paid of them.

When people get desperate, their true character comes out.  When the U.S. financial system completely fails one day, the thin veneer of civilization that we all take for granted will evaporate in a matter of days.

At that point we will all wish that we had paid a lot more attention to teaching our kids about “character” and “morality”.

11 Clear Signs That The U.S. Economy Is Headed Into The Toilet

The U.S. Economy Is Headed Into The ToiletThe vast majority of the talking heads on television are still speaking of the current economic collapse as if it is a temporary “recession” that will soon be over.  So far, the vast majority of the American people seem to believe this as well, although for many Americans there is a very deep gnawing in the pit of their stomachs that is telling them that there is something very, very wrong this time around.  The truth is that the foundations of the U.S. economy have been destroyed by an orgy of government, corporate and individual debt that has gone on for decades.  It was the greatest party in the history of the world, but now the party is over.  The following are 11 signs from just this past month that show that the U.S. economy is headed into the toilet and will not be recovering….

#1) When even Wal-Mart is closing stores you know things are bad.  Wal-Mart announced on Monday that it will close 10 money-losing Sam’s Club stores and will cut 1,500 jobs in order to reduce costs.  So if even Wal-Mart has to shut down stores, what chance do other retailers have?

#2) Americans are going broke at a staggering pace.  1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.

#3) American workers are working harder than ever and yet making less.  After adjusting for inflation, pay for production and non-supervisory workers (80 percent of the private workforce) is 9% lower than it was in 1973.  But those Americans who do still have jobs are the fortunate ones.

#4) Unemployment is absolutely exploding all over the United States.  Minority groups have been hit particularly hard.  For example, unemployment on many U.S. Indian reservations is over 80 percent.

#5) Unfortunately the employment situation is showing no signs of turning around.  December was actually the worst month for U.S. unemployment since the so-called “Great Recession” began.

#6) So just how bad are things when compared to past recessions?  During the 2001 recession, the U.S. economy lost 2% of its jobs and it took four years to get them back. This time the U.S. economy has lost more than 5% of its jobs and there is no sign that the bleeding of jobs will stop any time soon.

#7) Can you imagine trying to get your first job in this economic climate?  Our young men and women either can’t get work or have given up on work altogether.  The percentage of Americans 16 to 24 who have jobs is 13 percent lower than ten years ago.

#8) So where did all the jobs go?  Over the past few decades we have allowed the corporate giants to ship mountains of American jobs overseas, and there are signs that this trend is only going to get worse.  In fact, Princeton University economist Alan S. Blinder estimates that 22% to 29% of all current U.S. jobs will be offshorable within two decades.  So get ready for even more of our jobs to be shipped off to Mexico, China and India.

#9) All of these job losses are leading to defaults on mortgages.  Over the past couple of years we have seen the American Dream in reverse.  According to a report that was just released, delinquent home loans at government-controlled mortgage finance giants Fannie Mae and Freddie Mac surged 20 percent from July through September.

#10) But that is nothing compared to what is coming.  A massive “second wave” of mortgage defaults is getting ready to hit the U.S. economy starting in 2010.  In fact, this “second wave” is so frightening that even 60 Minutes is reporting on it

#11) Meanwhile, the Federal Reserve has announced that it made a record profit of $46.1 billion in 2009.  Apparently during this economic crisis it is a very good time to be a bankster.

A Record Number Of Americans Turn To Food Stamps As America Is Gripped By Economic Despair

Food StampsWould you ever accept government welfare?  Would you look down on someone who does?  Well, if you would look down on a fellow American who receives food stamps then get ready to look down on a massive sea of people.  The truth is that over 37 million Americans now receive food stamps, and the program is expanding at a pace of about 20,000 people a day.  As hordes of Americans have been forced out of their jobs and their homes, millions are finding that the only way they can make it is to accept food stamps.  For many it is a tremendously humbling moment to turn to the government for help, and for so many millions to be dependent on the food stamps program is yet another indication of how deep the economic despair in America has gotten.

Most of the time you won’t even notice them being used at the checkout counters.  Today food stamps take the form of inconspicuous plastic cards and they can be used to purchase a wide variety of food items.  A record 37.2 million people, which is approximately one out of every eight Americans, received food stamps in September, and that number is growing rapidly.

In particular, children are being enrolled in this program in staggering numbers.

One out of every four children in America now gets assistance from food stamps each month.  In fact, it is projected that half of all U.S. kids will be on food stamps at some point in their lives.

So if nobody in your family has ever had to go on food stamps consider yourself to be very fortunate.

Things are particularly bad in rural areas such as Tennessee.  Nearly 1,186,000 people who live in Tennessee, or more than one in six residents, currently receive some kind of food stamp assistance and that number is rapidly increasing.

But there are places where things are even worse.  In fact, there are 239 counties in the United States where at least a quarter of the population now receives food stamps.

Not only that, but it has now come out that about one in 50 Americans lives in a household with a reported income that consists of nothing but food stamps.

Can you imagine trying to live on nothing but food stamp assistance?

That is the case for 2 percent of all Americans.

Can you imagine the despair they must feel?

So is there economic hope on the horizon?

Hardly.

The number of Americans filing for personal bankruptcy rose by nearly a third in 2009.

In addition, the number of people preparing to buy a home in November fell sharply in the latest sign that the housing market may be headed for another downturn.

So more Americans are going to go broke.

And more Americans are going to lose their homes.

And a whole more Americans are going to end up on food stamps.

Can you feel the despair in the air?

We can.

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