From COUNTERCURRENTS 40 Bizarre Statistics That Reveal The Horrifying Truth About The Collapse Of The U.S. Economy By The Truth 15 August, 2010 Thetruthwins.com Most Americans still appear to be operating under the delusion that the "recession" will soon pass and that things will get back to "normal" very soon. Unfortunately, that is not anywhere close to the truth. What we are now witnessing are the early stages of the complete and total breakdown of the U.S. economic system. The U.S. government, state governments, local governments, businesses and American consumers have collectively piled up debt that is equivalent to approximately 360 percent of GDP. At no point during the Great Depression (or at any other time during our history) did we ever come close to such a figure. We have piled up the biggest mountain of debt that the world has ever seen, and now that gigantic debt bubble is beginning to pop. As this house of cards comes crashing down, the economic pain is going to become almost unimaginable. Already, things are really, really, really bad out there. Unemployment is at shockingly high levels. Foreclosures and personal bankruptcies continue to set new all-time records. Businesses are being shut down at a staggering rate, more than 40 million Americans are on food stamps, and the U.S. government continues to pile up debt at blinding speed. There is no use sugar-coating it. The U.S. economy is collapsing. The following are 40 bizarre statistics that reveal the truth about the collapse of the U.S. economy.... 1 - According to one shocking new survey, 28% of U.S. households have at least one member that is looking for a full-time job. 2 - A recent Pew Research survey found that 55 percent of the U.S. labor force has experienced either unemployment, a pay decrease, a reduction in hours or an involuntary move to part-time work since the recession began. 3 - There are 9.2 million Americans that are unemployed but that are not receiving an unemployment insurance check. 4 - In America today, the average time needed to find a job has risen to a record 35.2 weeks. 5 - According to one analysis, the United States has lost 10.5 million jobs since 2007. 6 - China's trade surplus (much of it with the United States) climbed 140 percent in June compared to a year earlier. 7 - This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour. 8 - According to a poll taken in 2009, 61 percent of Americans "always or usually" live paycheck to paycheck. That was up significantly from 49 percent in 2008 and 43 percent in 2007. 9 - According to a recent poll conducted by Bloomberg, 71% of Americans say that it still feels like the economy is in a recession. 10 - Banks repossessed 269,962 U.S. homes during the second quarter of 2010, which was a new all-time record. 11 - Banks repossessed an average of 4,000 South Florida properties a month in the first half of 2010, up 83 percent from the first half of 2009. 12 - According to RealtyTrac, a total of 1.65 million U.S. properties received foreclosure filings during the first half of 2010. 13 - The Mortgage Bankers Association recently announced that demand for loans to purchase U.S. homes has sunk to a 13-year low. 14 - Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975. 15 - 1.41 million Americans filed for personal bankruptcy in 2009 - a 32 percent increase over 2008. READ MORE Add Comment Oil set to rise/ Dec 20th, 2008 01/24/2009
Oil prices set to rise as OPEC plans on cutting production, the gasoline that was stockpiled and purchased at a low price will not be sold at that price, gas prices are expected to hike immediately, thus apathetic Canadians will never see the 40 cents a litre gas price they are entitled to. Oil has fallen by 107$ per barrel and gas prices only gone down 40%. 80 million barrels of oil are needed everyday to ensure the concentration of wealth and power in the hands of a few. 40 million between Europe and US and Canada, other 40 million used by everyone else. If one were Chinese they wouldn’t know America was in the midst of financial catastrophe last week. Here is how this highway robbery has been concealed. Thank god terrorists struck when they did! I-broke/ Dec 1st, 2008 01/24/2009
Apple CPU's lowers its ridiculous prices in order to sell its one month away from being outdated laptops, needing to get fake money to buy hard assets before the much anticipated great depression 2.0. Wal-mart to elect new CEO, as the last one was blamed for lowered consumer spending and subsequent closing of Chinese factories. Unemployment climbs/ Nov 23rd, 2008 01/24/2009
US jobless claims at a 16 year high as 10 million unemployed slaves, await the Obamian call of duty. A excerpt from the from the “statement on Financial markets” which was the final the product of the G20 convention is translated into English… Consumer hibernation/ Nov 23rd, 2008 01/24/2009
Consumer spending had a record breaking decline in October at 2.8%, signaling the planned collapse of the fake economy, which is sure to safely teeter in the orange until shit is set to abruptly hit fan once appropriate mechanisms to deal with duped population are in place. Oil bounces back! /Nov 23rd, 2008 01/24/2009
Reuters publishes a story entitled “oil bounces back from a 3 and a half year low” translating into, Gas is going to cost you more again, which means the economy is stronger! That is the more things cost the better off you are! In addition, during the time that Oil was at 1.50 a barrel Canadian prices waned between 1.20 and 1.40 per litre, recent prices of roughly 50$ a barrel have somehow only translated to a 30% reduction in price (i.e. between 85 and 95 cents a litre) clearly not the 200% reduction as should be the case…. Regardless those trained to not think continue doing their jobs…well. | ArchivesFebruary 2011 The Fake Economy CategoriesAll |










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