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.


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All images below are from the BBC

In all of there regressive glory the republocrats are at it again providing profitable one sided solutions to problems their buddies created and continue to profit from without much flack asides from a few inconsequential and pretentious bullshit articles no one reads by people paid to be socialists. Instead of simply forgiving the loans of foreclosed families, or canceling the usury (and not giving banker disease trillion of dollars to lend back to these families to buy new McHouses to stimulate the earth destroying fake economy some more), the government has decided to add insult to injury by "ALLOWING" people to remain in their homes and PAY RENT to these assholes for up to 5 years. THATS RIGHT WE ARE GENEROUS ENOUGH TO GIVE YOU A WHOLE 5 YEARS OF ACCUMULATING SWEET FUCK ALL FOR YOURSELF!!! NOT 1 BUT 5!!!!! Now if this doesn't sound fucked up, it should sound fucked up to know that this is being heralded as a step in the right direction by the bullshitters who have monopolized progressive politics and the media. They are framing this as a good thing!!! GEEE THANKS FOR LETTING ME STAY IN THIS HOME I USED TO AT LEAST PARTIALLY OWN AND PAY YOU MORE MONEY (BUT FOR NOTHING THIS TIME) WHILE YOU GET RICHER THAN FUCK AND I WORK UP THE CREDENTIALS TO BORROW MORE MONEY FROM YOU TO DO THIS ALL OVER AGAIN IN THE FUTURE SOMEDAY, AT WHICH POINT I WILL WILLINGLY BE FUCKED OVER BY YOU AGAIN!!!!  A financial analyst has said that the rent reciepts can also double as toilet paper for people to dry their eyes with when crying about how much of a complacent tool they are, and also for wiping their now fast food dependent encrusted asses.

NOTE TO SELF:

I SHOULD BE HAPPY I AM NOT IN CHINA, AND AM NOT STARVING TO DEATH, AND HAVE iPads, AND CONVENIENCE STORES AND A JOB TO KEEP ME BUSY ALL FKN DAY LONG!!! I SHOULD BE HAPPY AND CONTENT SO NOT TO WASTE THIS LUXURY ON CONCERNING MYSELF WITH OTHERS IN LESS FORTUNATE COUNTRIES WHO ALSO ASPIRE TO BE FREEDUMB LOVING PHILOSOPHICALLY BANKRUPT BANKER WHORES WHO WILL SETTLE ON FANCY SOUNDING BULLSHIT INSTEAD OF ANYTHING THAT REMOTLEY RESEMBLES JUSTICE LIKE MYSELF. LUCKILY THEIR SLAVERY ISNT DEPENDENT ON MY OWN APATHY!!! LUCKILY I HAVE ALEX JONES TO SELL ME DVDS IN MY OFF TIME OTHERWISE I WOULD HAVE TO REPRESS THE URGE TO DO SOMETHING MEANINGFUL (LIKE MAKE SIGNIFICANT DEMANDS) OTHER THAN ATTEMPTING TO SCARE MYSELF SHITLESS AND STIMULATE MY ADRENAL GLANDS WITH MOVIES LIKE "INVISIBLE EMPIRE" WHICH WILL WARM ME TO THE FACT!!!