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12 Signs That The Next Recession In The United States Has Already Begun

Is the U.S. economy in a recession right now?  Has the next recession in the United States already begun?  Unfortunately, there are a lot of economic numbers that are pointing in that direction.  U.S. retail sales have fallen for three months in a row, U.S. manufacturing activity is contracting and there are numerous indications that the labor market is getting weaker.  Of course there are some economists that will argue that we never even left the last recession.  For example, the percentage of working age Americans with jobs fell from above 63 percent in 2007 to under 59 percent during the last recession.  Since the end of the last recession, that number has not gotten back above 59 percent.  In fact, it has been below 59 percent for 34 months in a row.  In addition, we have continued to see poverty and government dependence steadily rise during this “economic recovery”.  Since Barack Obama became president, the number of Americans living in poverty has risen by 6 million and the number of Americans on food stamps has risen by 14 million.  So it would be really hard to argue with anyone that wants to say that the last recession never really ended.  However, the latest economic numbers indicate that things are about to get even worse for the U.S. economy, and that is not good news at all.

The following are 12 signs that the next recession in the United States has already begun….

#1 U.S. retail sales have declined for three months in a row, and that is a very bad sign.  Retail sales in America have fallen three months in a row only 27 times since 1947.  In 25 of those instances, the U.S. economy was either “in a recession or within three months of a recession.

#2 Manufacturing activity in the mid-Atlantic region has declined for three months in a row.

#3 Overall, the U.S. manufacturing sector contracted last month for the first time in almost three years.  The following is from a recent article in the Los Angeles Times….

A factory index calculated by the Institute for Supply Management slid to 49.7 in June from 53.5 in May to the lowest reading since July 2009. Any level below 50 denotes tightening in the sector; anything above signifies growth.

#4 Sales of previously occupied homes dropped by 5.4 percent during June.

#5 Initial claims for unemployment benefits rose to 386,000 last week – another sign that the labor market is weakening again.

#6 According to one survey, only 23 percent of all U.S. businesses plan to hire more workers over the next 6 months.

#7 The Philadelphia Fed’s employment index indicates that there is bad news ahead for the labor market….

Labor market conditions at the reporting firms deteriorated this month. The current employment index decreased 10 points, to ‐8.4, its second negative reading in three months. The percent of firms reporting decreases in employment (18 percent) exceeded the percent reporting increases (10 percent).

#8 Unless Congress acts, the U.S. Postal Service is going to financially default for the first time ever on August 1st.

#9 The Conference Board’s index of leading economic indicators fell by 0.3 percent in June.

#10 A Washington Post survey that was conducted back in April discovered that 76 percent of all Americans believe that the U.S. economy is still in a recession.

#11 According to AARP, 600,000 American homeowners that are 50 years of age or older are currently in foreclosure.

#12 The unemployment rate in New York City is now back up to 10 percent.  That equals the peak unemployment rate in New York City during the last recession.

So where do we go from here?

Are poverty and government dependence going to reach even higher levels during the next recession than they did during the last recession?

Yes, we always want to help those that are hurting and that cannot take care of themselves.  We don’t want to see anyone going without food or sleeping in the streets.

But handouts are not going to solve our economic problems.  The U.S. government even admits that handouts can be very damaging to those that become accustomed to them.  The following is from the website of the U.S. National Park Service….

Feeding bears or allowing them access to human food causes a number of problems:

• It changes the bear’s wild behavior and causes them to lose their instinctive fear of humans. This lack of fear causes panhandler or “nuisance” bears to be more unpredictable and dangerous when they encounter humans.

• At their best, panhandler bears perform tricks to obtain food. At their worst, they damage property and injure people. In 2009, 288 bear-related incidents were recorded in the park. One incident involved an injury to a park visitor and others resulted in extensive property damage.

• It transforms wild and healthy bears into habitual beggars. Studies have shown that panhandler bears never live as long as wild bears. Many are hit by cars and become easy targets for poachers. Beggar bears may die from ingesting food packaging or toxins.

But although socialism is bad for bears, apparently it is just right for humans.

According to the Daily Caller, the federal government is actually working with the Mexican government to increase participation in the U.S. food stamp program….

The Mexican government has been working with the United States Department of Agriculture to increase participation in the Supplemental Nutrition Assistance Program (SNAP), or food stamps.

USDA has an agreement with Mexico to promote American food assistance programs, including food stamps, among Mexican Americans, Mexican nationals and migrant communities in America.

“USDA and the government of Mexico have entered into a partnership to help educate eligible Mexican nationals living in the United States about available nutrition assistance,” the USDA explains in a brief paragraph on their “Reaching Low-Income Hispanics With Nutrition Assistance” web page. “Mexico will help disseminate this information through its embassy and network of approximately 50 consular offices.”

This doesn’t make any sense at all.

Why is the U.S. government seeking the assistance of a foreign government to help get more people on food stamps?

Sadly, many in our government actually believe that getting people on food stamps is one of the best things we can do for our economy.

For example, House Minority Whip Steny Hoyer recently told reporters that enrolling more Americans in the food stamp program is one of the “most stimulative” things that the government can do for the U.S. economy.

Isn’t that frightening?

No wonder why so many people are skeptical of the government these days.  One recent survey found that 23 percent of all Americans believe that “government is the solution to the problem” while 64 percent of all Americans believe that “government is the problem”.

What we really need is for the government to get off of the backs of our businesses so that they can start thriving again and so that they can start creating more jobs.

But as we have seen in the past, that never seems to happen no matter which political party is in power.

Meanwhile, the next great global financial crisis is rapidly approaching and there seems to be little hope that the U.S. is going to be able to avoid another major economic downturn.

If you expect the government or the Federal Reserve to save you from what is coming, then you are going to be bitterly disappointed.  They were not able to prevent the last economic crisis and they are not going to be able to prevent the next one either.

The truth is that our financial system is massively overloaded with debt and our economy is failing.

A great storm is coming and it is going to be exceedingly painful.

You better get ready while you still have time.

  • Colin

    Why do conservatives compare the poor to bears, raccoons, and other forms of wild animals?

    http://tpmdc.talkingpointsmemo.com/2011/08/gop-senate-candidate-regrets-comparing-poor-people-to-scavenging-animals.php

    http://www.addictinginfo.org/2012/03/03/minnesota-republican-says-people-who-use-food-stamps-are-wild-animals/

    http://univisionnews.tumblr.com/post/27430179829/congressional-candidate-compares-poor-people-to-animals

    I have read the words of Jesus Christ. He never compared the poor and the marginalized to wild animals.

    He even said,

    “But when you give a banquet, invite the poor, the crippled, the lame, the blind, and you will be blessed.” (Luke 14:13)

    http://www.jesuscentral.com/ji/life-of-jesus-modern/jesus-poor.php

    Michael, I was baptized at age nine into a Lutheran church. As a fellow Christian speaking to another Christian, I do not believe you honor our savior and redeemer, Jesus Christ, by comparing the poor and the marginalized to wild animals.

    • Guido

      Actually, he didn’t compare poor people to animals, but there is a similarity.

      I thought it was an amusing and ironic point that we’re not supposed to give handouts to animals because they become dependent on handouts and refuse to rely on their wits and skills to hunt or gather food-but we are willing to believe giving food, money, free housing, free cell phones, free medical care, free job training, free drug treatment, free money with no strings attached to poor people will somehow merely tide them over while they get back on their feet.
      Go to American Thinker and read: http://www.americanthinker.com/2011/07/among_the_tax-takers.html “Among the Tax Takers.” It’s by a CA IRS employee who describes how stark the difference between tax payers and entitlement recipients, Tax Takers, was.

      “We newbies learned that those who pay taxes have a general fear of calling the IRS and tend to be nice on the telephone, while those who don’t pay any taxes believe they are entitled and are not always pleasant to deal with. We also learned these aren’t the brightest people on the planet with many signing their refund over to a tax-preparer and then claiming they didn’t know they had done that.”

      “A golfing buddy said his girlfriend’s daughter claims EITC among other things and received a U.S. government check for $6,000. She used the money to take her toddler daughter and the child’s ne’er-do-well father to the Monterey Bay Aquarium — a couple hundred bucks — and spent the remainder for a giant tattoo on her back.”

      Giving people free money, housing, phones, food, and other freebies does nothing to make them better people, more independent, more responsible, or more useful to society.

      Don’t believe me? Ask any home or apartment renter, or even dweller, who lives in an area with Title 8 housing. Unless they’re in 8 housing themselves, they will confirm for you the government-supported Title 8 housing tenants are the worst. They destroy the place they’re renting, they drive down property values, they and their friends are disruptive to the community, and they’re generally a burden you can’t get rid of. The problem is compounded by the USG’s stupid rules to protect their privacy. Prospective tenants and home buyers aren’t permitted to know there are Title 8 tenants in the neighborhood-although it’s easy to figure it out real quick.

      Have you ever heard it said that stress reveals character? None of the true-life Horatio Alger-style rags-to-riches stories you’ve ever heard of came from people who were getting free stuff from other people. Rockefeller didn’t hit the jackpot while sitting in a free shack eating gov’t cheese. Ray Krok didn’t start McDonalds by sitting around chatting on his free gov’t cell phone and drinking SNAP/EBT-purchased beer.

      I look at my grandfather who survived the Depression, left school to work, joined the USN during the Korean war, earned a GED, and ultimately became a brain surgeon. Not too shabby. He did get 1 handout after his state put him in an orphanage and then returned him to his father with a sack of puffed rice.

      If we’re going give money to the poor, let’s at least make them do something to get it. In the 1930s, men worked digging ditches and building what became many of our national parks for their welfare money and food. We certainly have enough trash along highways, decaying infrastructure, and run-down buildings where indigent people could be put to work to earn their aid money.

      In any case, the days of free money will be coming to a close soon when we’re dead broke. I wonder what all the useless eaters will be doing when the free money dries up?

      • Colin

        Guido, I know of the programs that you speak of. It was the Work Projects Administration. (http://en.wikipedia.org/wiki/Works_Progress_Administration) It will never happen again as the Republicans are opposed to anything associated with the New Deal Program.

        The WPA had precedents in history, In Ancient Egypt, the pharaoh would conscript farmers in the months between harvest for public works. The farmers were paid in beer and sustenance for their work, and were housed in public dormitories.

        http://www.saylor.org/site/wp-content/uploads/2011/07/The-Ancient-Egyptian-Economy.pdf

        Many ancient and medieval societies understood that for a society to function that the people had to be kept busy and had to be kept sustained with the basic necessities of life. Our modern world has largely abandoned this wisdom with the result that many people aren’t working because there aren’t enough jobs and that many people are dependent on a government system that gives subsidizes and supports a corporatocracy.

        As for the similarity to wild animals (Guido) or the comparison to wild animals (listed links), this is a debate over semantics. I believe that once a person begins to equate a group with wild animals that this person is on a dangerous road which may lead to persecution and murder. I am calling for restraint and reflection.

      • ME

        In USSR, t his crowd were the ones who had make-work jobs. They at least had to show up, instead of the system in USA where the hardest thing they do when the finally get out of bed is to open their eyes.

    • paul

      Why do so many American christians take everything so literally? Is it the lack of meaningful education?

    • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

      Conservatives like Michael are not the only ones to use similes about humans and animals to make a point. Libertarians like myself, who prefer to deal with reality as it presents itself to us, often use this literary device…

      http://olgreyghost.blogspot.com/2012/01/great-correction-great-recession.html

      But since the Bible is replete with such comparisons between humans and animals (and plants, and weather, and geological structures, etc.), i.e. The Song of Solomon, then your critique of Michael is theologically unsound, unless you’re suggesting the Bible is full of errors (oops…).

      If some people wouldn’t act like wild animals…

      http://personalliberty.com/2012/07/20/tragic-mass-killing-gets-politicized/

      http://personalliberty.com/2012/07/20/300-black-teens-storm-florida-wal-mart/

      http://townhall.com/columnists/thomassowell/2012/07/17/are_race_riots_news/page/full/

      …then such comparisons would be a moot point.

      • Colin

        The Song of Solomon is a love poem. For the Jews, it is about the relationship between Israel and God. For the Christians, it is about the relationship between the Church and Christ, or the Human Soul and Christ. In either case, it is about the love between a husband and a wife. When comparisons are made between humans and animals, the poem does so complimentary, and not derogatory.

        Let’s look at our American history. The members of the KKK used to compare African-Americans to wild animals. This comparison justified their terrorist agenda to keep African-Americans in their ‘place’. Even today, there have cases of extreme conservative wing nuts comparing President Barack Obama to a monkey.

        • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

          So when the Nazarene prophet referred to members of the Sanhedrin as a “brood of vipers,” was he being “complimentary” or just offering constructive criticism?

          Yes, history shows us that the best way that people assuage their guilt for causing harm or loss to their fellow humans is to consider their victims to be less-than-human. Early laws that prohibited marriage between Whites and Blacks were written because it was considered a form of beastiality. But the use of simile here by myself, and possibly Michael (he can answer for himself), is not to dehumanize the poor but to compare basic human and animal psychology in regard to becoming addicted to handouts.

          And the President is not a monkey. If he were a monkey, he wouldn’t hardly be as dangerous as he is now…

        • lllr

          If one does not work, they shall not eat. Does this sound familiar?
          You will ALWAYS have the poor among you

          The problem is a problem of too much govt. running lives. No responsibility on the part of takers. No govt. taking responsibility for giving the money, etc..etc..etc…

          A top down do over is needed.

  • DaytoDay

    How can anyone not see it?

    I went to the mall 3 weeks ago (First time in a year) And I mind you, I just went to one corner of this two-story mall, and within 50 feet, there were 4 shops closed, two of them had the gates pulled down, and two were completely vacant… I saw probably, 10 people (Including workers) In the time that I was in there… I can only imagine what the rest of the mall looked like…

    And I use to go that mall quite a bit, and I’ve never seen it look that “dead” before… No wonder I haven’t been there in years…

    All around where I live, there are buildings (For businesses) that have been vacant for over 3 years… No vandalism (yet) And they’re not dilapidated (Yet) but they’ve just been sitting there with NO action of any kind for over 3 years…

    You can take a drive, and go 4 miles and you’ll see on one side of the road, completely vacant restaurants, shops, and businesses, and on the other-side of the road, everything is bustling with activity, literally just across the street… It’s really surreal…

    I’ve seen an increase of people riding bikes in the city, (And not for the exercise) over the past year.

    The roads, look as as terrible as ever (I mean, ALL over the valley)… And yet, they are surrounded by new restaurants, and shiny new buildings, and car dealerships, that get next to no business…

    I mean, you can see it everywhere, in every facet of society… From doctors offices, to steel mills, to car dealerships, you name it… Even the military is in the process of down sizing and laying off people…

    So at this point, I think it’s pretty delusional to believe that we are in a “recovery” and no, I’m not saying this out of any negative bias, but from personal, every day observations and the obvious facts listed.

  • DEFCONStudios

    Michael,

    23-30% Unemployment coupled with a $211 Trillion fiscal gap indicates that the US is in a Great Depression and not a Recession.

  • marK

    I was just talking to a Real Estate sales person. They wanted me to buy a 60 acre parcel next door to my place that was on the market. I was not interested as the land is junk. He was telling me that they get 20 calls a week from people in California that want bare land in the country to run to if a collaspe happens. If a collaspe happens just where do these people that buy bare land think the materials will come from to build a place. There sure will not be much at Home Depot by the time they get here if they even can get here. Does anyone really think if a real collaspe happens that country folk will not have road blocks to stop strangers from coming into the area. You had better get prepared and try make a safe place close to home or make your home and neighborhood safe.

  • lee

    This is true. I guesstimated it could start in May, the data looks like I was just a couple months early.

    If you’ll notice on a stock market chart, the stock market didn’t really start caving until mid-2008; while the recession started in December 2007. I’m expecting that to happen a little faster this time as anyone who is paying attention sees everthing is declining. I’m thinking the first few months of 2013, it should really hit the US.

    I’ve been preparing for 3 months and can make it though what I think will be the worst now, if it doesn’t hit hard until 2013; it’ll be like watching a car wreck from the opposite street and seeing who I can help.

    Seriously, at minimum; a very long recession is coming and it will probably be a long depression; start prepping now for it.

  • joseph

    This is a good article,but not surprising in the least.We as a society have allowed the existence of bad behavior,and even reward it.Elected officials being voted in by the masses of uninformed idiots,who,IMHO,should have to take a litmus test before voting.Most people of this great country,would not think to challenge the status quo,maybe your to comfortable listening to the talking head on TV,appealing to your sense of misdirection and understanding,telling you everything is ok,how pathetically sweet.Yesterdays generation became greedy,you were handed everything,by the generation before you,who gave so much and asked for so little,only that you do the same for the next…you didn’t,you dropped the ball,got scared,tucked your tail in the fetal position and said it will be ok,well it’s not,the only good that will come of this is you get to see your cowardly handiwork,i applaude you……

  • Neil McCauley

    “The Food Stamp Program, administered by the U.S. Department of Agriculture, is proud to be distributing the greatest amount of free meals and food stamps ever.

    Meanwhile, the National Park Service, administered by the U.S. Department of the Interior, asks us to ‘Please Do Not Feed the Animals.’ Their stated reason for the policy is because the animals will grow dependent on handouts and will not learn to take care of themselves.”

  • Guido

    I wonder if the welfare rolls will be turned over to DHS for rounding up malcontents and dangerous elements if/when things get really nasty? The folks on the free money will be the most likely source of trouble in the future, so knowing exactly where to find them would make it easier to head off social unrest. Come the breakdown in the social services, they’re going to be a threat to good order.
    Just a thought…

    • Colin

      It’s conceivable. In an episode of Star Trek: Deep Space Nine, titled “Past Tense”, the poor and the unemployed were relocated to sanctuary districts.

      Here is a description of the sanctuary districts from Memory Alpha, the wikipedia for Star Trek:

      http://en.memory-alpha.org/wiki/Sanctuary_District

    • ME

      This crowd will not have to be rounded up. They will be fighting each other to get INTO camp FEMA. They don’t have any idea how expendable they are considered by the .gov they love.

    • Tina

      That is PRECISELY what I have been thinking. People on welfare, disability, any kind of assistance can be the government’s “beginning list” to round people up.

      Oh well, it should get rid of a lot of illegal aliens that way, lol.

  • http://booksbyoliver.com MountainHome

    “People who are hungry and out of a job are the stuff of which dictatorships are made.” Franklin D. Roosevelt

    Spain is having massive demonstrations in protest of the govts new austerity programs & I suspect we’ll be seeing this soon in America.

    You might want to read a book out about Americans taking a stand against federal tyranny cause it’s so real & about each of us. I recommend it. http://www.booksbyoliver.com
    I wonder when we finally stop calling the current times a ‘recession’ & start calling it a ‘depression’. Another great list of the times. Thanks for the list.

  • http://Survive2balive.com GA

    This data represents depression rather than recession. The only reason it hasn’t completely come unglued is because of the actions of the Fed. The longer it is kept on life support the more intense and longer lasting it will be. Keep prepping. No matter what you do there will still be pain but you can definetly alleviate a lot of your own personal suffering.

  • hbeachrealist

    Unfortunately, you cannot get the majority of Americans to become concerned. I mean NFL camps are about to open, there are new Batman and Spiderman movies, and Steven Tyler left American Idol. They won’t become concerned until we have skyhigh gas prices and the next economic hammer really hits.

    And then, only some will listen to the truth. The others will just believe whatever the government and cable news will tell them.

  • http://www.OlGreyGhost.Blogspot.com Ol’ Grey Ghost

    What we are in is another, or Greater, Depression. The separating high-points that everyone uses to distinguish one recession from another are still down in the valley of this depression and it will take years for a full recovery, if not another World War…

    http://olgreyghost.blogspot.com/2009/04/how-to-grow-recession-into-great.html

  • i’vegivenup

    We have been in a severe recession since 2008. We are not entering a new recession but rather….WE ARE ENTERING ANOTHER GREAT DEPRESSION…

  • Malcolm

    to everyone,

    if there are no jobs, what can one do?
    the system created long ago has gotten us to this point
    we all should have stayed on the farm and been self sufficient, answer to yourself not to some greedy, overbearing, stressed out, boss.
    its modern day slavery in another form, thats all it is….
    compassion and caring has been replaced with greed, selfishness and nastiness
    and they call this a Christian nation..lol not anymore……

  • Gary2

    The U.S. government even admits that handouts can be very damaging to those that become accustomed to them. The following is from the website of the U.S. National Park Service….

    Yep Michael–you do not bash the poor. Yep so christian of you to compare the poor to animals. I always knew you felt this way towards the poor when I called you out for never missing an opportunity to bash them. Typical conservative–say one thing and do another. I will credit you that at least you can no longer pretend to care about the poor (ie be your brothers keeper)

    • Col. Wilson

      Ahh making unfounded accusations again? Good to see you haven’t changed.

      There is a difference between ppl falling hard times & needing help (tho help should be done by neighbors instead of a wasteful & corrupt govt) & those who misused the system, which is fraud waste & abuse but then again you do not care about tax payers being ripped off. Your answer is to tax the rich & that will get rid of all the problems.

      So sad to see you living in fairy tale world – to pay off 1 trillion in debt at $1 per second would take 32,000 years & that is without interest. IOW there are not enough rich in the history of the world to pay off the U.S. & states debts.

      Instead of towing the line of stupidity why not think & deal in reality?

      Oh yea you wont do that because you have accepted the lie.

      Sorry

      ;)

  • PDN

    And the status quo goes on, next year I will see similar articles on this site about the “near future”, same next year and so on and on. Blah, blah, blah!

  • El Pollo de Oro

    Michael T. Snyder writes: “there are some economists that will argue that we never even left the last recession.” I would take it a step further and say that The Banana Republic of America (formerly Gli Stati Uniti) entered a depression in September 2008 and has yet to leave it. So far, it has been a “managed depression,” as economist Steve Cordasco has described it. But all the bailouts, stimulus, etc. don’t erase the fact that the BRA’s economy is in very bad shape, and things are only going to get worse—much worse, in fact. So far, the depression of 2008-2012 hasn’t been as severe as the Great Depression of the 1930s, but Gerald Celente is absolutely right when he says that when the you-know-what hits the fan, we will end up facing an economic nightmare that’s even WORSE than the Great Depression of the 1930s. Celente calls the horror that lies ahead The Greatest Depression.

    “Unemployment for a year or more, the kind that just sucks the heart and soul out of people, is about double what it was in late 2009—and yet in the 1960s, it was essentially nonexistent. ”—Michael Fumento

    “This is a collapse of empire. One thing that is an ingredient of all collapses of empire is an absence of justice. There is no justice.”—Stacy Herbert

    “Brace yourself. The American empire is over. And the descent is going to be horrifying.”—Chris Hedges

    “If you’ve studied Rome, you know that wealthy nations do collapse into Third World squalor when they allow their currency to be debased.”—Alex Jones

    Consider this: economist John Williams (Shadow Statistics) has said that The REAL unemployment rate in the BRA (not the government’s bogus figures) was 22.4% in December 2011. When things go from bad to much worse, we could easily be looking at 40% or 50% unemployment in the BRA. And the downfall of a major economic power like the BRA will have far-reaching consequences all over the world. Our misery will worsen Europe’s misery; Europe’s misery will worsen our misery.

    These are dark, dark times we’re living in. God help The Banana Republic of America, and God help Europe.

  • http://www.buy.genzbook.com Novanglus

    http://www.amazon.com/GENERATION-The-Global-Revolution-ebook/dp/B008F5GRRM/ref=sr_1_2?s=digital-text&ie=UTF8&qid=1342819001&sr=1-2&keywords=generation+z

    Has anyone read this book? It was pretty spot on regarding the economy, entitlement, and empire. I think we are the generation that has to make real and lasting changes that restore our liberties and bring us back to the American Dream.

  • http://christnotreligion.blogspot.com DL.

    As far as I’m concerned, taking a handout is taking a handout, and yes the poor do take handouts, but compared to the handouts the bankster-oligarchs (aka criminal psychopaths) take, leave the poor alone!

    It is attitudes like “screw the poor over handouts” and no mention of the super rich getting nearly all the handouts from conservatives on here when these same conservatives could be calling for the bankster-oligarchs to stop getting bailouts that makes me think the ideological divide amongst “we the people” means nothing to bring justice against these psychos will ever happen in the USA.

    “Conservatives” can’t do it alone and neither can “liberals”, but nothing will change as long as some folks blame the poor for everything (after all, it is easy to blame the poor, isn’t it?). Also do not forget: the reason the poor like to get handouts is because they see the rich constantly getting handouts!

    Rockefeller and Morgan? give me a break! Yes, they worked hard–screwing workers and we the people (and if I sound like Gary2, too bad! Even a broken clock is right twice a day).

    • Gary2

      Yes Michael is a defender of the 1% and sadly most of the posters here are also defenders of the 1%.

  • http://www.youtube.com/watch?v=2jheGzKrmLc Edward

    The positive outcome of all of this is that millions of people are losing faith in government. They see what people are running things:

    http://www.youtube.com/watch?v=2jheGzKrmLc

    So maybe this is a great opportunity to educate our friends and people in our churches, etc. that reliance on government to know more than we do, care more than we do and be as honest as we expect each other to be is a myth.

  • Concert genius

    Gratifying to read intelligent, observant comments, several of which mirror mine regarding striking contrasts of general business activity juxtaposed to ghost town – like vacancies.

  • ScoutMotto

    Thanks for the article Michael. Also, it’s because of pictures like the hourglass you posted that I bought an hourglass. It’s quite a symbol these days.

  • DC

    Your Gov’t got off the backs of big finance, banks and big business. They also got off BPs back and let them do….pretty much what they wanted in the GoM, and they also got off the frakers backs and said, frak away! who needs a water table anyhow, its just a liberal hoax.

    Hows all that getting of businesses backs working our fer y’all ? Good?

    Wall St and the Oil-auto cartel ARE thriving, in fact, if you look at all the numbers, the 1% are doing better than they ever have. So really…..whats the problem…..

  • Colin

    There is a story on Huffingtonpost today on how the poverty crisis of today mirrors the poverty crisis of the 1960’s. LBJ attempted to address this crisis with the Great Society programs, but the programs were, according to LBJ, killed by the Vietnam War.

    http://en.wikipedia.org/wiki/Great_society

    http://www.huffingtonpost.com/2012/07/22/us-poverty-level-1960s_n_1692744.html

  • Gary2

    Michael–that isn’t that isn’t really you looking through the binoculars in the above photo is it? I bet you really are Barack Obama.

  • http://theendoftheamericandream Leonard

    What about handouts of trillions upon trillions of dollars to the banksters? If the middle class is happy with it, they will end up paying much more in the future. Corporate welfare? Maybe the banksters aren’t bears, they are little gods that we pity so much. Result: WE PAY DEARLY.

  • Virginia

    Our economy has shrunk dramatically in the last 25 years yet, our population soars. What were people thinking back 25 or 30 years ago when they chose the traditional lifestyle? I guess they thought that even though jobs and the economy were shrinking that there would still be enough left over for them, their offspring, their grandchildren,etc. We need to practice some dramatic population control in this country. People are just too hung up on reproducing their DNA and then letting the burden fall on society. There is more to life than having a family that you cannot support. Take care of yourself first. That is truly making a difference in today’s world.

  • Donald

    Your article is unfair and unbalanced….just like FOX NEWS. You left out the other side of this story.

    The economy has not been bad for everyone. The wealth of the top 1% of Americans has been increasing during the recession, Corporate profits are up, top incomes are up, and luxury sales are up. CEO salaries are up 27% or more.

    Compare the actual rates of increase of the salaries of CEOs and ordinary workers; from 1990 to 2005, CEOs’ pay increased almost 300% (adjusted for inflation), while production workers gained a scant 4.3%. The purchasing power of the federal minimum wage actually declined by 9.3%, when inflation is taken into account.

    As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers).

  • Teddy Pescadero

    Thanks for the 12 tips. I’ll definitely keep my eyes peeled for this. I hoped this will not really happen anyway.

  • A. S. Mathew

    According to the economists, an healthy healthy economy must meet these standards.

    GDP not less than 3%
    Consumer confidence not less than 70
    Unemployment not more than 6%
    PMI (purchasing Managers Index) not less than 50

    U.S. has failed in all these testing.
    GDP 1.3 Consumer confidence always less than 70. Unemployment 8.1% PMI less than 50 So, we are now in a recession.

  • http://twitter.com/YourDoomO_o Vyvienne Hill

    Btw guys, ya can’t just blame EVERYTHING on Obama
    Goerge wasn’t any better