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12 Reasons To Be Extremely Pessimistic About The Direction That The Economy Is Headed

Do you want to feel optimistic about the U.S. economy?  If so, you might not want to read the rest of this article.  In many areas of the United States today, you can almost smell the fear and the anxiety in the air.  Survey after survey has found that the American people are extremely pessimistic about the direction the economy is headed.  In fact, many recent surveys have found that economic pessimism is at the highest levels ever recorded.  There has been an astonishing loss of faith in the system.  In general, people are extremely dissatisfied with how things are going right now, and they do not believe that things will get better any time soon.  When the majority of the population starts losing hope like that, it creates a very unstable economic environment.  Once people are gripped by desperation, they start behaving much differently.  Desperate people do desperate things, and we are already starting to see this in many parts of the country.

It would be great if there was some reason to be optimistic about things, but our leaders continue to pursue the same failed policies that got us into this mess in the first place.

The statistics that you are about to read should alarm you.  The American people have gotten it into their heads that things are bad and that they are going to get even worse.

Unfortunately, the American people are correct about that.

The following are 12 reasons to be extremely pessimistic about the direction that the economy is headed right now….

#1 A big chunk of the American people are flat broke.  According to one recent survey, one-third of all Americans say that they have absolutely no spare cash.

#2 The budgets of American families are being stretched incredibly thin and the savings rate is going down again.  In fact, the savings rate in September was the lowest that it has been since December 2007.

#3 Back in 2001, Gallup began asking Americans about how they feel about the state of their own personal finances.  In October, Gallup once again asked this question, and 22 percent of the respondents rated their personal financial situations as “poor”.  That is the highest number that Gallup has ever seen.  In addition, the gap between the number of Americans that said that their finances were “getting worse” and the number of Americans that said their finances were “getting better” was also the largest that Gallup has ever seen.

#4 Overall, Americans are very depressed about the state of the U.S. economy.  According to a recent Associated Press-GfK poll, 43 percent of all Americans believe that the economy is in “very poor” shape.

#5 Big corporations continue to lay off more American workers.  For example, Whirlpool has just announced that it will be slashing 5,000 more jobs in the United States and Europe.

#6 Americans seem to have an incredibly dim view of the job market.  One recent survey discovered the following….

This month, just 9% of Americans would rate the job market of their region of the nation as good while 67% would rate it as bad and one-quarter (24%) say it is neither good nor bad.

#7 If nearly all Americans believe that something bad is going to happen, does that make it more likely that it actually will happen?  A recent IBOPE Zogby Interactive Poll found that 95 percent of all Americans are “somewhat concerned” or “very concerned” that we are headed for a double-dip recession.

#8 The American people are also overwhelmingly pessimistic about the housing market.  In fact, the same IBOPE Zogby Interactive Poll referenced above found that 89 percent of all Americans are “somewhat concerned” or “very concerned” that there will be an increase in foreclosures over the next two years.

#9 Older Americans tend to be cranky in general, but the amount of pessimism that they are exhibiting about the economy right now is absolutely stunning.  The following comes from a recent article in the Huffington Post….

Older workers are gloomier about the economy now than they were last year.

Nearly two thirds of workers older than 50 first surveyed by AARP’s Public Policy Institute in 2010 said things had gotten worse by the time the senior lobbying powerhouse followed up in August. Fewer than one in 10 said their view of the economy had improved. The rest said things had stayed the same.

#10 The consensus among the American people seems to be that the economy will get even worse leading up to the election in 2012.  The following is what one recent telephone survey discovered….

By a 49%-35% margin, Americans say they expect the U.S. economy to worsen between now and the November 2012 presidential election.

#11 The U.S. national debt is an anchor around our necks that just gets heavier and heavier as time goes by.  The U.S. government is now about 15 trillion dollars in debt, and a recent Allstate-National Journal poll discovered that 79 percent of all Americans “believe the federal debt and deficit have a meaningful impact on their personal finances.”

#12 The financial crisis in Europe just seems to get worse by the day.  The United States is already teetering on the edge of an economic disaster, and if Europe experiences a big time financial crash it seems extremely unlikely that we would be able to avoid another major recession.

Things simply do not look very promising for the economy right now.

As I wrote about recently, there are a lot of signs that the American people are already extremely angry and frustrated by what is happening to the economy.

So what is going to happen if things get significantly worse?

Unfortunately, there simply are not any “quick fixes” which are going to put us back “on course”.  The consequences that we are experiencing now are the result of decades of bad decisions.  The American people kept sending incompetents, con men and charlatans back to Washington D.C. over and over and over and now we are going to pay the price.

The prosperity of the last 30 years was a false prosperity.  We squandered our national inheritance and we lived the “high life” by piling up mountains of debt unlike anything that the world has ever seen before.

In the end, there is always a very high price for “living for today” at the expense of the future.  Tomorrow always ends up arriving way too soon, and future generations will curse us for being so foolish.

The party was great while it lasted, but it is coming to an end.

A whole lot of economic trouble is on the horizon, and it is going to be very, very painful.

  • Colin

    Our government is so dysfunctional that our president has been forced to resort to issuing executive orders to help people in distress. Our government is so dysfunctional that issues of great importance are rarely considered and voted, and trivialities such as affirming “In God We Trust” as the nation’s motto are about the only bills to be passed. (I know, Michael, that Christianity is very important to you, and you may not view this as a triviality. As a fellow Christian, I disagree.)

    • REED RICHARDS

      Colin,

      The government is dysfunctional because, by and large, that is what the masses want. They want dysfunctional government. That explains a two winged one war party system where the only things they can agree on are endless wars, perpetual, socialist bank bailouts, and as you mentioned in god we trust symbolism. In short, the amerikan people are getting exactly what they deserve and what they have asked for. But, hey, weren’t the teabaggers elected to restore order to the system and bring the budget into balance?

    • DB200

      “… trivialities such as affirming “In God We Trust” as the nation’s motto …”

      This is a no-brainer, as anyone can fill in his/her god:
      – money (Mammon);
      – Allah;
      – Buddha;
      – you name it.

      Where the real God of Israel meant, there would have been blockades from all sides. That the affirmation indeed was a triviality, shows to me that another god is meant then the one of Christians and Jews.

  • http://theamericandream tracey

    thank god the recession ended in 2009

    • mondobeyondo

      LOL…LOL…LOL!!
      I can hardly control myself after reading that.

    • Hi there

      LOL, nice! Hope and change we can believe in, haha. What a joke…

    • DB200

      Yep, we are definitely far better off. We should be happy that our politicians know what they are doing and are keeping us on the right track.

    • Texan Patriot

      Thanks to the hoax and chains of Obammie the commie!

  • http://lastdayrapture.blogspot.com/ TK

    I was discussing this with a coworker. I told him that our children will blame us for the austerity measures that will be placed on them. Greece is a small example of what is to come to America in the very near future.

    • DB200

      What was his reaction?

  • A Dodgy Bloke

    It’s not that great in my neck of the woods, I was listening to a local talk show the host was having people call in and discribe their own situation and their fears. I was surprised how many either thought things where going to get worse, or things where bad but they would be fine. It’s staring to dawn on me there is a large percentage of the population who either don’t get it, don’t understand what’s happening or are totally obvious to what’s happening. These are the people who really scare me not OWS or the Tea Party or the present collection of dimwits at 1700 Pennsylvania Avenue. It’s the comfortably complacent who think hard times will never darken their door. These are the people who will go out and do something stupid.

    • Justa Guy

      They will have to do something stupid, because when the “reality tsunami” finally hits them hard, and knocks them completely senseless and their world gets turned upside down because they believed things would never change for them, they will panic because they will be stunned and without direction on how to survive.

    • Guido

      Dodgy, I don’t know which section of the woods is yours, but if I’m ever in it, I would seriously like to share a beer, or the beverage of your choice, with you.

  • http://gatesofvienna.blogspot.com/2007/03/multiculturalism-merits-and-debits.html Charles Emerson Winchester

    This is quite interesting:

    From http://www.conspiracypenpal.com/columns/state1.htm (February 17th, 2008):

    “There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.”
    — Ludwig von Mises, Human Action (1949)

    “The morons who seized control of America after killing JFK have botched everything so badly that there is no way back not involving extensive pain and deprivation, at a minimum. And they certainly will not cede the power they have stolen from us peacefully. More likely: bloodshed and death far in excess of that seen during America’s first Civil War… per capita!”

    “Though I foresee a last-ditch effort to discredit Obama and thereby get the guy inaugurated whom our self-chosen masters really want – McCain – I predict that Barack Obama will be the next American President.”

    “Because America quite obviously is finished, it simply no longer matters who gets elected President.”

    “Once the very picture of success, in one generation America has gone from being the World’s largest creditor to its largest debtor. Money we do not have is spent to prop up some foreigners, particularly Israel ($30 billion dollars explicitly outlined in Bush’s 2009 budget, with billions more flowing both privately and off the public record), and kill others, primarily Israel’s enemies in the Middle East.”

  • Kevin

    The real US economy has been physically contracting for several decades (“We’re living here in Allentown and their closing all the factories down”) as real wealth declined (due to de-industrialization) and a debt fueled false service economy took it’s place. It was no accident. The purpose of the false economy was to placate the masses so they would not take corrective political action thus thwarting the globalist agenda. The developed world drops and the developing world rises.

    The term, “Boiling a frog” is applicable.

    Lucky those born in the US in 1936. Too young for Korea, too old for Vietnam with opportunities a plenty. Invest? Just put up the Fortune 500 on the wall, blindfold yourself and throw a dart. Buy a lot of what it lands on and you will do good for the next two decades. By the time your getting close to retire you may see the the incipient stages of the great US evisceration. By the time you actually retire only the blind will not see the decline. You however made yours and your out of there bypassing bad times at both ends.

    As an 80 year old retired PHD recently told me. It’s a good time to be old.

  • mark

    We should be very worried. This debt is so large that it can’t be paid back. The way out for the government is to inflate the dollar. Three months ago I bought a 25 pound bag of pinto beans at Costco for $12.05. Today that same bag of beans costs $17.85 and it will go higher. Uncle Ben will just print and print. I guess Tim will have to come up with billion or trillion dollar bills. Hey, let’s just print a few of those up, hand them to China and call it good. Boy would they be pissed.

  • mondobeyondo

    I’ve got a bad feeling about this.

    (That line is in every “Star Wars” movie)

    There will not be a happy ending. Very few people are going to live happily ever after, when push comes to shove. Oh by the way, how’s Snooki doing on Jersey Shore?

    • Michael

      Is it really in all of the movies?

      If so, I did not know that.

      Michael

  • Airborne71

    Not only Very Very Painful , But VERY VERY SOON !!

  • William

    Well, as former US Senator Fritz Hollings of SC said, you do not have to be a rocket scientist to figure this one out. The US government (speaking collectively of the cowards and FOOLS in the US Congress and the Obummer administration) will borrow money to give it away to foreigners, and wage illegal and immoral and unnecessary wars with borrowed money; yet, these cretins will do NOTHING for the average citizen, citing mumbo jumbo about the debt and deficit. Strange that foreigners are viewed as more important than US citizens! This is precisely why America will not last another 20 years.

  • Patriot One

    I have to agree with you Andrew. Tomorrow is today, we worried about yesterday.

  • http://infowars.com cletus van damme

    there will be a reckoning. The youth of the nation will get sick of doing the “right thing” with nothing to show from it.

  • dawn

    This was all planned by the elite banksters over 100 years ago. The NGO’s like Club of Rome, Trilateral Commission, CFR(Carneige, Ford, Rockefeller ) Council Foreign Relations in conjunction with each s’elected president formed executive orders, secret agreements like the North American Union (merging Mexico, Canada & USA) to give all the jobs to China starting back in 1970’s and now excellerating. all planned and not the people’s fault..all socially given to them by the elite as well complete with a matrix, false reality….housing bubble-was caused by lots of factors but when Clinton and his group in the white house got rid of Glass Steigel Act…the house loans were all grouped in false asset sales of derivatives.
    Most homes being foreclosed-if the residents stayed they would probably be able to keep home as hardly andbanks are able to produce the actual (original, legal) Deed of trust to the home. The banks cannot prove they own the homes… Don’t be compliant.
    http://www.cuttingthroughthematrix.com, http://www.infowars.com, http://www.jordanmaxwell.com, http://www.rense.com, a few sites where you can locate the facts100% but will require some time and research on your part.. We can all do better but this author is writing facts about the elite and what they present to us then stating we are the cause of the financial failures…no. the Corporations are your new overlords with local and federal and national /or international governments in 1)farming out all production, manufacturing to China on purpose 2) socially engineering all of society through movies, predictive programming, 3)attacking us through food, Genetically Modified Foods from Monsanto (Means Mon-my, Santo-my satan) 4) increasing taxes on top of taxes
    5) forced scam, farce of non-existent global warming (we are in an ice age actually)
    6) dumbing down of society and increased indoctrination through all facets of life:
    schools-run like prisons, jobs via the evil corporations, newspapers, magazines owned by just 5 families in the entire planet…. nothing these monsters haven’t touched.
    Please do not feel guilty–you have not done anything wrong. but wake up now.
    thank you.

    • REED RICHARDS

      dawn,

      I agree with you that the evil global banking elite had all of this planned well ahead of time and are now executing their evil plans. What I disagree with you on is that the masses should not feel guilty and have not done anything wrong. The masses should absolutely feel guilty for they bought into a corrupt system that was designed to collapse and take all their wealth and culture down with it. They have willingly supported and voted for time, and time, and time again for the two wings of the war party (Dems/Reps) knowing what both wings stand for. They bought into a oorrupt system that says criminals who engage in crime while crashing the capitalist system should not be prosecuted. They bought into a corrupt system that says tax the rich little if not at all while they themselves pay those very same taxes.

      Sorry, I am not buying the innocent victims routine for the amerikan people here. They are complicit in their own destruction and instead of coddling them a VERY LARGE MIRROR SHOULD BE PUT IN FRONT OF THEIR FACES CONFRONTING THEM ABOUT THEIR ROLE IN THIS, AND ENCOURAGE THEM TO UNDERSTAND THAT SUPPORTING AND ENABLING THE GLOBALISTS DOES NOT HELP THEIR CAUSE ONE IOTA. Do that and you will be taking a positive step in the right direction. Any and all support (including votes) must be taken away from the Democrats and the Republicans not to mention boycotts of the banks and corporations that fund them. Others who share a just view of the world should be given the opportunity to govern. Anything less than that will simply be whistling dixie in the graveyard of empires……

  • http://www.hotbedinfo.com KT

    Not only do we have to worry about an economic collapse, we now have to worry about getting bit by one of Bill Gates Vaccine carrying Genetically modified Mosquitoes!

    Bill Gates Wants Forced Vaccinations via Genetically Modified Mosquitoes

    http://hotbedinfo.com/2011/11/bill-gates-wants-forced-vaccinations-via-genetically-modified-mosquitoes/

  • Noneya

    Back in the 80’s and 90’s, I watched as all these big fancy houses were going up everywhere and I always wondered what were these people doing that they could afford such fine places? I made good money then for a single woman, and living within my budget and paying my bills, I could not even begin to buy a place like some of those I saw. Now I understand what a sham it all was. I make alot less now than then, and I have alot more to be thankful for. The American Dream does not look the same for everyone.

  • REED RICHARDS

    Michael,

    The word is not pessimistic, the word is realistic. Only adolescent minds describe what is happening and what is to come to amerikans based on the facts and evidence at hand and call it pessimism.

  • mondobeyondo

    Long, long ago, back when T-rexes roamed the earth, there were also oligarchs running businesses in this country. J.P. Morgan had a vast financial empire. John Rockefeller had Standard Oil, and Andrew Carnegie had a railroad empire (I might be wrong about that last guy.) Standard Oil was broken up (deregulated). Railroads went out of style, but JPMorgan Chase is still going strong. Grandpa Morgan would be so proud!

    Not much has changed in the past century or so, except that corporations have taken over from individuals. Well, not completely. Every time you boot up your computer, you feel the influence of Bill Gates and/or Steve Jobs. But for the most part, nobody knows who the CEO of McDonald’s is without Googling it.

    • Kevin

      Rockefeller figured out there was more money to be made in money as opposed to oil and joined in with the bankers forming the Federal Reserve. Oh, Carnegie was Steel.

  • Gary2

    GOP=Greedy One Percent! I love it.

    • Hefsmaster

      Hey big Govt. puke… You are an infamous staple to this site… What’s the matter there gary? Took over a day for your response…. That’s the best you got?

      If you had real knowledge of political theory… You would recognize this site as a libertarian haven.

      I would be so inclined to invite you over for dinner, for a nice chat…

      But i would probably throw you out the window…

      BTW… You have disgraced cookie monster Butt peg…

    • REED RICHARDS

      Gary2,

      Don’t blame the GOP itself. Blame the brain-dead citizenry that constantly pulls the lever and votes these morons and idiots into power. The current mess that people find themselves in is of their own making……….

      • Guido

        Yeah, as opposed to the ones who voted for Obama without even knowing anything he believed in. I’ll never forget when Howard Stern asked Obama supporters if they supported Obama’s plans, then used planks from McCain’s platform…

  • http://samalbahaykubo.wordpress.com/ SamalBahayKubo

    Think outside the box: a developing country that has better growth than your own; cheaper land; cheaper labour; cheaper materials; optimism. Sell whatever you can, move the rest of it to the new country – build yourself a better life. Is there a risk that the GFC will spread there, damn right – but if someone is already poor, it’s not going to make that much difference to them.

    And realise this, the debt isn’t real. It’s entries on a ledger made by the banks. If they truly wanted to, they could remove the entries. It doesn’t exist. That’s what frightens them, the rest of us realising that the debt doesn’t exist.

    • S. Wiseman

      You’re right. It’s just an illusion; the greatest scam in the history of mankind! If I’m a rich business man and you want to borrow $100,000 from me to finance your business venture, it’s sort of like me going to my printing press and printing up $100,000 play money, legalized forgery. I “loan” you the printed “money.” Never touch my own assets. Only in their world, the bankers loan out this phoney play money and get paid back in real assets when they foreclose. It’s the very definition of evil. I don’t know how you people continue to support banks and the bureaucrats that back them.

  • Fud

    What else is new. And the zombies will still vote for Obongo, Bachman, Perry, or one of the other degenerates thinking things will change. They deserve what they are going to get.

    Ron Paul is the only candidate that stands for real change but even he won’t be able to turn the tide. The system is terminal. It would still be fun seeing someone like Paul get into the WH and shake up things a little. Of course there would always be the danger of a “lone wolf” if he tried something drastic.

    Oh, damn, I almost forgot. The MSM tells us he is a marginal candildate. Wierd, all the major candidates are nut cases. Well I guess that’s ok, so are most Americans.

    Fud

    • REED RICHARDS

      Fud,

      Trying to steal my thunder, eh? I have a copyright on being the Rockefeller of outrage! Go get your own message!!!(LOL)

  • A.S.

    If we are so much in debt, where do we get the money for all those wars, big brother technologies, and hand-outs to people who never worked a day in their life? Time to eliminate, effective immediately, all useless spending. Time to end the Federal Reserve. Time to let people decide how to live their private lives. If that does not happen by the 2012 elections, we really are doomed! I fear “Father Stalin (oh wait, “Father Obama”) will win another term. And if that happens, G-d help us, that we elected into office a muslim communist for another term!

  • A.S.

    Michael, I was wondering if there is a way to notify us if someone replies to our posts, at any level, whether we make a new post or reply to someone else.

    • Michael

      A.S.:

      I know that it is possible to do that on some sites, but my technical knowledge is somewhat limited so I have not figured out how to do that on my sites yet.

      Michael

  • A.S.

    I just heard that U.S. banks hold $1 trillion ($US) in European debt. If that is true, when Greece defaults, this will definitely cause a ripple effect into or economy. And you know what the response will be: bail out those banks and our debt will grow by a lot more than $1 trillion in just days! My response: let all the banks fry! If the average person gets pushed into the streets because of bad decisions, so to with all the banking elite. Let them become homeless and see how the average American suffers because of their decisions.

  • Hefsmaster

    Gary? Gary?? Gaaaaaaarrrrrryy……

    Come back you lovable shill…

    Your contributions are….. Priceless!

  • Guido

    I love the picture at the top of the post. It appears to be warning me about the dangers of careening off the road into bacon…

  • Bob Marshall

    ‘ Every step we take toward making the state our caretaker of our lives, by that much we move toward making the state our master.” Dwight David Eisenhower. “The democracy will cease to exist when you take away from those willing to work and give to those who would not.” Thomas Jefferson. ‘ When a business spends more than it makes, it goes bankrupt. When government does it, it sends taxpayers the bill. When government does it for forty years, the bill comes in two ways: Higher taxes and inflation.” Ronald Reagan. Raising taxes will not stop congress from the spending problem they continue to have.