Overseas

The Mancession: 16 Signs That This Economic Decline Is Sucking The Life Out Of The American Male

This economic decline has been really hard on everyone, but it has been particularly hard on American men.  During the last recession male employment dropped like a rock and it has not recovered much at all since then.  That is why many referred to the last recession as a “mancession”.  Industries where men are disproportionately represented such as construction and manufacturing have really been hit hard in recent years.  In the old days, you could take a high school education down to the local factory and get a job that would enable you to live a middle class lifestyle and support a growing family on just that one income.  Sadly, those days are long gone.  Today, American men live in a world where their labor is not really needed.  Wages are falling because almost any worker can be easily replaced by the vast pool of unemployed American workers that are currently searching for work, and a lot of big companies are shifting labor-intensive jobs overseas where workers only make a small fraction of what they make in the United States.  American workers (especially those without much education) are considered to be expensive liabilities in a world where labor has become a global commodity.  So the percentage of working age American men that have jobs is likely to continue to decline and wages are likely to continue to stagnate as well.

For many men, a long-term bout with unemployment can almost be worse than a major illness.  It can be really hard to feel like a man when you don’t have a job.  Men often see themselves as filling the “provider” role, and when they aren’t providing for their families self-esteem can fall through the floor.  It is easy to feel worthless when there is no money coming in and your wife and your kids are looking at you with worry every single day.

As you read this, there are millions upon millions of unemployed men sitting at home with a glazed look in their eyes.  When you talk with these men, many of them seem as though the life has been sucked right out of them.

As I wrote about recently, when you cannot find a job month after month after month people start to look at you differently.  Some start to look at you with pity in their eyes, and others start to look at you with disgust in their eyes.

Most Americans don’t really understand how much the economy has fundamentally changed, and many of them still believe that it shouldn’t be too difficult to find a job in “the greatest economy on earth”.

But things have changed.  If you don’t have a college education or some highly specialized skills then it is going to be exceedingly difficult to get a good paying job in this economy.

Unfortunately, finding a job is not going to be getting any easier.  Times are hard now, but they are going to be getting a lot harder.

The following are 16 signs that this economic decline is sucking the life out of the American male….

#1 During the last recession, men lost twice as many jobs as women did.

#2 According to the Economic Policy Institute, the “real entry-level hourly wage for men who recently graduated from high school” has declined from $15.64 in 1979 to $11.68 last year.

#3 During the recent economic downturn millions of men saw their family finances get absolutely destroyed.  According to the Federal Reserve, the median net worth of families in the United States declined “from $126,400 in 2007 to $77,300 in 2010“.

#4 As you can see from the chart below, in the 1950s there were times when nearly 85 percent of all working age men had a job.  Sadly, that number has stayed below 65 percent since the end of the last recession….

#5 More unemployed fathers than ever are staying at home with the kids.  Over the past decade the number of “stay at home dads” has doubled.

#6 Prior to the recession, women accounted for approximately 45 percent of the workforce.  Now, they account for 49.4 percent of the workforce.

#7 According to one new survey, 23 percent of all small business owners in America have gone for more than a year without pay.  More than half of all small business owners are men.

#8 The decline in manufacturing jobs has had a disproportionate impact on men.  Back in 1940, 23.4% of all American workers had manufacturing jobs.  Today, only 10.4% of all American workers have manufacturing jobs.

#9 More than half of all middle management jobs in America are now held by women.

#10 More than half of all health care jobs in America are now held by women.

#11 American men love to watch television.  But because of harsh economic conditions more families than ever are eliminating cable television service.  According to one survey, a whopping 6.9 million American homes cancelled cable service last year.

#12 According to the New York Times, approximately 57 percent of all Americans that are currently enrolled in college are women.

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

#14 According to another study, “young, urban, childless women” make more money in America today than young, urban, childless men do.

#15 According to CNN, in the United States today men in the 25 to 34 age bracket are nearly twice as likely to live with their parents as women the same age are….

The number of adult children who live with their parents, especially young males, has soared since the economy started heading south. Among males age 25 to 34, 19% live with their parents today, a 5 percentage point increase from 2005, according to Census data released Thursday. Meanwhile, 10% of women in that age group live at home, up from 8% six years ago.

#16 Our system often treats elderly American men like absolute trash.  Just check out what happened to one elderly veteran up in Montana recently….

Warren C. Bodeker is an 89 year old World War II Army Airborne combat veteran and war hero, living in Montana, who is being thrown off of his own land and thrown out of his own house, by Montana Federal Bankruptcy Trustee, Christy Brandon, with the approval of the U.S. Bankruptcy Court in Montana. And to make matters worse, Warren’s wife Lorna just died of cancer this past year, and is buried there on their land, right next to the house. Warren had planned to live there till he died and then be buried right next to his wife, there on their property at 11 Freedom Lane, in the town of Plains, Montana, but now, not only is he being forced off his land, he is being forced to exhume his wife’s body and take her with him.

As the ability of men (and women) to take care of their families continues to decline, the middle class continues to shrink rapidly.

Most Americans continue to expect our economy to be able to bounce back to where it was before, but the truth is that the U.S. economy is in the midst of a long-term decline.

We are heading for an absolute economic nightmare, and we desperately need to come together as a nation and find some real solutions.

Unfortunately, our nation is becoming more divided than ever, and most of our politicians are proposing that we continue to do the exact same things that got us into this mess.

So what do all of you think about “the mancession” and what this economic decline is doing to the American male?  Please feel free to post a comment with your thoughts below….

30 Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes As We Enter 2012

Once upon a time, the United States had the largest and most vibrant middle class that the world has ever seen.  Unfortunately, that is rapidly changing.  The statistics that you are about to read prove beyond a reasonable doubt that the U.S. middle class is dying right in front of our eyes as we enter 2012.  The decline of the middle class is not something that has happened all of a sudden.  Rather, there has been a relentless grinding down of the middle class over the last several decades.  Millions of our jobs have been shipped overseas, the rate of inflation has far outpaced the rate that our wages have grown, and overwhelming debt has choked the financial life out of millions of American families.  Every single day, more Americans fall out of the middle class and into poverty.  In fact, more Americans fell into poverty last year than has ever been recorded before.  The number of middle class jobs and middle class neighborhoods continues to decline at a staggering pace.  As I have written about previously, America as a whole is getting poorer as a nation, and as this happens wealth is becoming increasingly concentrated at the very top of the income scale.  This is not how capitalism is supposed to work, and it is not good for America.

Today I went over to Safeway and I was absolutely appalled at the prices.  I honestly don’t know how most families make it these days.  I ended up paying over 140 dollars for about two-thirds of a cart of food.  That was after I “saved” 67 dollars on sale items.

When the cost of the basic things that we need – housing, food, gas, electricity – go up faster than our incomes do, that means that we are getting poorer.

Sadly, if you look at the long-term numbers, some very clear negative trends emerge….

-The number of good jobs continues to decrease.

-The rate of inflation continues to outpace the rate that our wages are going up.

-American consumers are going into almost unbelievable amounts of debt.

-The number of Americans that are considered to be “poor” continues to grow.

-The number of Americans that are forced to turn to the government for financial assistance continues to go up.

After you read the information below, it should become abundantly clear that the U.S. middle class is in a whole heap of trouble.

The following are 30 statistics that show that the middle class is dying right in front of our eyes as we enter 2012….

#1 Today, only 55.3 percent of all Americans between the ages of 16 and 29 have jobs.

#2 In the United States today, there are 240 million working age people.  Only about 140 million of them are working.

#3 According to CareerBuilder, only 23 percent of American companies plan to hire more employees in 2012.

#4 Since the year 2000, the United States has lost 10% of its middle class jobs.  In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.

#5 According to the New York Times, approximately 100 million Americans are either living in poverty or in “the fretful zone just above it”.

#6 According to that same article in the New York Times, 34 percent of all elderly Americans are living in poverty or “near poverty”, and 39 percent of all children in America are living in poverty or “near poverty”.

#7 In 1984, the median net worth of households led by someone 65 or older was 10 times larger than the median net worth of households led by someone 35 or younger.  Today, the median net worth of households led by someone 65 or older is 47 times larger than the median net worth of households led by someone 35 or younger.

#8 Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you adjust for inflation.

#9 The total value of household real estate in the U.S. has declined from $22.7 trillion in 2006 to $16.2 trillion today.  Most of that wealth has been lost by the middle class.

#10 Many formerly great manufacturing cities are turning into ghost towns.  Since 1950, the population of Pittsburgh, Pennsylvania has declined by more than 50 percent.  In Dayton, Ohio 18.9 percent of all houses now stand empty.

#11 Since 1971, consumer debt in the United States has increased by a whopping 1700%.

#12 The number of pages of federal tax rules and regulations has increased by 18,000% since 1913.  The wealthy know how to avoid taxes, but most of those in the middle class do not.

#13 The number of Americans that fell into poverty (2.6 million) set a new all-time record last year and extreme poverty (6.7%) is at the highest level ever measured in the United States.

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

#15 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.  During 2010 it got even worse.  Last year, an average of 23 manufacturing facilities a day shut down in the United States.

#16 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.

#17 Most Americans are scratching and clawing and doing whatever they can to make a living these days.  Half of all American workers now earn $505 or less per week.

#18 Food prices continue to rise at a very brisk pace.  The price of beef is up 9.8% over the past year, the price of eggs is up 10.2% over the past year and the price of potatoes is up 12% over the past year.

#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#20 The average American household will have spent a staggering $4,155 on gasoline by the end of 2011.

#21 If inflation was measured the exact same way that it was measured back in 1980, the rate of inflation in the United States would be well over 10 percent.

#22 If the number of Americans considered to be “looking for work” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11 percent.

#23 According to the Student Loan Debt Clock, total student loan debt in the United States will surpass the 1 trillion dollar mark at some point in 2012.  Most of that debt is owed by members of the middle class.

#24 Incredibly, more than one out of every seven Americans is on food stamps and one out of every four American children is on food stamps at this point.

#25 Since Barack Obama took office, the number of Americans on food stamps has increased by 14.3 million.

#26 In 2010, 42 percent of all single mothers in the United States were on food stamps.

#27 In 1970, 65 percent of all Americans lived in “middle class neighborhoods”.  By 2007, only 44 percent of all Americans lived in “middle class neighborhoods”.

#28 According to a recent report produced by Pew Charitable Trusts, approximately one out of every three Americans that grew up in a middle class household has slipped down the income ladder.

#29 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

#30 The poorest 50 percent of all Americans now collectively own just 2.5% of all the wealth in the United States.

Sadly, this article could have been much, much longer.  There are so many other statistics about the middle class that could have been included.

For even more insane economic numbers that show just how dramatically the U.S. economy is declining, just check out this article: “50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe“.

What is even more frightening is that this is about as good as things are going to get.

We have already had “the economic recovery”, such as it was.

Now we are heading for another major financial crisis.  Just like back in 2008, the entire world is going to feel the pain.

But we never recovered from the last financial crisis.  We are like a boxer that is not ready to handle another blow.

And who is going to get hurt the most?  It will be those at the bottom of the food chain of course.  Tens of millions of Americans that are living in poverty will experience a massive amount of pain, and millions more Americans will fall out of the middle class and will join them.

If you have a good job, do your best to hang on to it.  If you don’t have a job, do your best to get one while you still can.  Jobs will become very precious in the years ahead.

But also try to do what you can to become less dependent on the system.  Almost anyone can find ways to make some extra money on the side.  Yes, it will likely cut into your television time.  If someday you were to lose your job you don’t want to be left with zero income.

Right now, the U.S. economy is slowly dying and as time goes by the number of middle class Americans it will be able to support will continue to decrease.

Yes, it is like a perverse game of musical chairs, but this is where we are at.

I encourage all of you to think about how you plan to make it through the collapse that is ahead.

Sticking our heads in the sand and pretending that everything is going to be okay is not going to help anyone.

But if we all start planning for the storm that is ahead, and if we get others around us to wake up as well, that is going to do a great deal of good in the long run.

GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, Is Moving Jobs And Economic Infrastructure To China At A Blistering Pace

Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, is moving even more GE infrastructure to China.  GE makes more medical-imaging machines than anyone else in the world, and now GE has announced that it “is moving the headquarters of its 115-year-old X-ray business to Beijing“.  Apparently, this is all part of a “plan to invest about $2 billion across China” over the next few years.  But moving core pieces of its business overseas is nothing new for GE.  Under Immelt, GE has shipped tens of thousands of good jobs out of the United States.  Perhaps GE should change its slogan to “Imagination At Work (In China)”.  If the very people that have been entrusted with solving the unemployment crisis are shipping jobs out of the country, what hope is there that things are going to turn around any time soon?

Earlier this month, Immelt made the following statement to a jobs summit at the U.S. Chamber of Commerce….

“There’s no excuse today for lack of leadership. The truth is we all need to be part of the solution.”

Apparently Immelt’s idea of being part of the solution is to ship as many jobs overseas as he possibly can.

A recent article on the Huffington Post documented how GE has been sending tens of thousands of good jobs out of the country….

As the administration struggles to prod businesses to create jobs at home, GE has been busy sending them abroad. Since Immelt took over in 2001, GE has shed 34,000 jobs in the U.S., according to its most recent annual filing with the Securities and Exchange Commission. But it’s added 25,000 jobs overseas.

At the end of 2009, GE employed 36,000 more people abroad than it did in the U.S. In 2000, it was nearly the opposite.

GE is supposed to be creating the “jobs of tomorrow”, but it seems that most of the “jobs of tomorrow” will not be located inside the United States.

The last GE factory in the U.S. that made light bulbs closed last September.  The transition to the new CFL light bulbs was supposed to create a whole bunch of those “green jobs” that Barack Obama keeps talking about, but as an article in the Washington Post noted, that simply is not happening….

Rather than setting off a boom in the U.S. manufacture of replacement lights, the leading replacement lights are compact fluorescents, or CFLs, which are made almost entirely overseas, mostly in China.

But GE is far from alone in shipping jobs and economic infrastructure out of the United States.  For example, big automakers such as Ford are being very aggressive in China.  Ford is currently “building three factories in Chongqing as part of $1.6 billion investment that also includes another plant in Nanchang”.

Today, China accounts for approximately one out of every four vehicles sold worldwide.  The big automakers consider the future to be in China.

Just a few decades ago, China was an economic joke and the U.S. economy was absolutely unparalleled.

But disastrous trade policies have opened up the door for a mammoth transfer of jobs, factories and wealth from the United States to China.

China has become an absolute powerhouse and America is rapidly declining.

Beautiful new infrastructure is going up all over China even as U.S. infrastructure rots and decays right in front of our eyes.

You can see some amazing pictures of the stunning economic development that has been going on in China here, here, here and here.

America is being deindustrialized at lightning speed and very few of our politicians seem to care.

Back in 1979, there were 19.5 million manufacturing jobs in the United States.

Today, there are 11.6 million.

That represents a decline of 40 percent during a time period when our overall population experienced tremendous growth.

We used to have the greatest manufacturing cities on the entire globe.  The rest of the world was in awe of us.

Today, most of those formerly great manufacturing cities are decaying, rotting hellholes.

The following is what one reporter from the UK saw during his visit to Detroit….

As you pass the city limits a blanket of gloom, neglect and cheapness descends. The buildings are shabbier, the paint is faded. The businesses, where they exist, are thrift shops and pawn shops or wretched groceries where the goods are old and tired. Finding somewhere to have breakfast, normally easy in any American city, involves a long hunt. ‘God bless Detroit’, says one billboard, just beside another offering the alternative solution: liquor.

You can see some really shocking images of the decline of Detroit right here.

Our politicians insisted that globalism would not result in a “giant sucking sound” as millions of jobs left America.

But that is exactly what has happened.

Sadly, most American families still don’t understand what has happened.  Most of them are still waiting for things to get back to “normal”.

Millions of unemployed Americans are dealing with incredible amounts of stress right now as they wait for jobs to start opening up again.  But the jobs that have been shipped overseas are not coming back.  In a globalized economy, it doesn’t make sense to hire American workers when you can legally pay workers slave labor wages on the other side of the globe.

Millions of good middle class jobs have been replaced by low paying service jobs.  Today there are huge numbers of Americans that are cutting hair or flipping burgers because that is all they can get right now.

Many others are only able to survive because of the safety net.  One reader named David recently left a comment in which he shared his story.  David did everything that the system asked him to do, but the promised rewards never materialized.  Now David is broke, unemployed and he feels deeply frustrated….

A year ago I had a job, we were struggling, but bills were getting paid, and somehow we were getting by. Then I made the mistake of getting sick, one day before my company insurance kicked in. An auto-immune illness almost killed me, if it weren’t for the amazing efforts of my physicians and an emergency spleenectomy, I would not be here.

My wife would have been a single mother,raising two young sons, one of which is autistic. Instead, I pulled through. The disease damaged my liver, leaving me with a chronic condition, and even after a year, it is hard to get up and go some days. My “employer” dumped me as soon as I left the hospital, and I haven’t worked since. It isn’t for lack of looking. There just isn’t anything.

Oh, I get my government cheese money. Here I am college educated, unable to find something that can pay the bills better than the money that we get from the government. It sickens me to be this dependent on the system like this. But the system de-incentivizes work, and makes living on the dole make a perverse economic sense.

I used to have dreams, but I have given up on them. My wife and I have no savings, we have no life raft and if it weren’t for the generosity of her parents and mine, things would have ground to a halt a long time ago.

I believed every thing adults told me. Work hard, I did. Get an education, I did. Find a nice girl and settle down, I did. Two cars, a dog, a cat and couple of kids, a nice townhouse…the american dream. Yep.

I love my country. My heart is broken, broken because I have been betrayed. I did what you asked, I played by the rules. I did what you said to do; I submitted, I conformed, I stopped dreaming. Now what?

I am willing to pay for my faults and transgressions; my failures are my own, I get that. My children should not have to suffer for my failures, they did not do anything wrong. My youngest boy is autistic, we hope he will be able to integrate into society, but the fact is we may have to take care of him for the rest of his life. How do I do this with nothing, and no opportunity in the foreseeable future?

Depression, stress…yep, I’ve got all that. I used to be hopeful and optimistic about the future. Now all I am is afraid.

As the United States continues to bleed good jobs, stories like the one you just read are going to become much more common.

So what are our politicians doing about all of this?

They tell us that we need even more “free trade”!

Barack Obama says that we need more free trade.

The Republicans say that we need more free trade.

In Washington D.C. our politicians do not agree on much, but one thing they do agree on is that we need to keep shipping jobs out of the country.

Until the American people wake up and start demanding an end to the globalization of the U.S. economy, the job losses are just going to continue to get worse.

The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.  If this trend continues, millions more Americans will soon be surviving on food stamps or living in tent cities.

The American people are deeply concerned about the economy, but they still have not connected the dots on these issues.  The mainstream media and most of our politicians keep telling them that the globalization of the economy is a wonderful thing.

It is so sad that people just do not understand what is going on right in front of their eyes.

Whether you are a conservative or a liberal or a libertarian, you should be against the deindustrialization of America.

Allowing our industrial base to be raped is not a good thing.

Allowing big corporations and foreign governments to pay slave labor wages to workers on the other side of the globe making things that will be sold inside the United States is not a good thing.

Allowing the destruction of our industrial capacity to threaten our national security is not a good thing.

Allowing millions of precious jobs to leave the country is not a good thing.

The biggest corporations are making some extra profits by exploiting cheap labor on the other side of the globe.  Corporate executives love to shower themselves with larger and larger bonuses.

But our current trade policies are not working for American workers.

We need “fair trade”, not “free trade”.

The United States is being taken advantage of, and the Democrats and the Republicans are both laying down like doormats and letting it happen.

If you want to know where all the good jobs went, it is not a big mystery.

They have been shipped out of the country and they are not coming back.

Unless fundamental changes are made, things are going to get worse and worse and worse for American workers.

So what is going to happen next?

It is up to you America.