The Most Important Thing I Have Ever Written

The Beginning Of The End - The New Novel About The Future Of America By Michael T. Snyder
Kindle Version Of The Beginning Of The End
Survive After Collapse
The Mystery Of The Shemitah
Blood Moons Mark Biltz
Soul Deceiver
Power Companies HATE This Man...
Power companies are scared that people will learn how to slash their bill and beat Obama's electricity monopoly using this 47-year-old patriot's "weird" trick. See how before they shut it down.
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins

Recent Posts

Archives

15 Statistics Which Prove That The U.S. Economy Is In Much Worse Shape Than Most Americans Think

Yes, most Americans realize that the economy is not doing well right now, but most of them also believe that this is just a “temporary” downturn.  The mainstream media tells us over and over that a “recovery” has either already begun or that one is right around the corner.  Sadly, the truth is that the U.S. economy is in much worse shape than most Americans think.  Yes, there will be economic “peaks and valleys” as we move along, but it is absolutely imperative that all of us understand that we are in the middle of a long-term economic decline that has been caused by decades of horrendous decisions.  Thousands of businesses and millions of jobs have left the country and they aren’t coming back.  Last year, 23 manufacturing facilities a day were shut down in the United States and we have lost more than 56,000 manufacturing facilities since 2001.  Without enough good jobs to go around, millions of American families have lost their homes and millions of American families have been pushed into poverty.  Less good jobs also means that there are less people to pay the taxes we need to keep government services going.  Government debt at the local, state and federal levels has exploded as the tax base has dwindled.  We have become a nation that is very good at consuming wealth but that is not very good at creating wealth.  Just “tweaking” a couple of things here or there is not going to get our economy back “on track”.  We need fundamental changes to the way that we are doing things, and there are currently no signs that this kind of change is going to happen any time soon.

But many Americans don’t even realize what is happening.  As I wrote about recently, Americans are increasingly being segregated by income.  If you live in a “good neighborhood”, there is a decent chance that you might not know anyone that is having financial problems right now.  If you live in a “bad neighborhood”, it might feel like you are living in the middle of the Great Depression.

We live such insulated lives today.  We all get into our cars, go to work, get back into our cars, drive to the store, get back into our cars and drive home.  For most of us, interactions with other human beings are fairly limited.  Our perception of what is going on “in the real world” is greatly shaped by what the mainstream media tells us.

And the mainstream is constantly telling us that everything is going to be okay.

But is that the truth?

The following are 14 statistics which prove that the U.S. economy is in much worse shape than most Americans think….

#1 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.

#2 Sadly, it looks like this trend is picking up momentum.  During 2010, an average of 23 manufacturing facilities a day closed down in the United States.

#3 Since 2001, the U.S. has lost a total of more than 56,000 manufacturing facilities.

#4 There are way too few jobs and this is leaving a lot of people out in the cold.  The average amount of time that a worker stays unemployed in the United States is now a whopping 39 weeks.

#5 Only 48 percent of all unemployed Americans are currently getting unemployment checks from the government.  Early last year, that number was at 75 percent.

#6 There doesn’t seem to be much hope that the job market will improve significantly any time soon.  One recent survey found that 77 percent of all U.S. small businesses do not plans to hire any more workers.

#7 Without enough good jobs to go around, millions of Americans are losing their homes.  Over the past four years, more than 100,000 homes in Las Vegas alone have been lost to foreclosure.

#8 As the economy struggles, new home sales continue to suffer as well.  In fact, new home construction is poised to set a brand new all-time record low in 2011.

#9 As family budgets get tighter, Americans are saving less money and a significant percentage of them say that they have no extra money left to spend at this point.  The savings rate in the United States in September was the lowest that it has been since December 2007, and according to one recent survey one-third of all Americans say that they have absolutely no spare cash to spend on anything right now.

#10 According to one recent survey, one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

#11 If you can believe it, extreme poverty is now at the highest level that the U.S. government has ever recorded.  Today, more than one out of every seven Americans is living in poverty and more than 20 million of them are considered to be living in extreme poverty.

#12 State and local governments all over the country have gotten into massive debt problems.  At this point, the municipal bond market in the United States is coming apart at the seams.  The following is a brief excerpt from a recent article that appeared on biggovernment.com….

Moody’s Credit Rating Service just announced the ominous trend that credit quality in the municipal bond market is falling at the fastest rate since the collapse of Lehman Brothers in 2008. Data released showed that 5.3 times as many municipal bonds were credit downgraded over the three last months than were upgraded.

#13 Today, more Americans than ever are relying on the government in order to survive.  A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#14 Young people in particular have been hit really hard by this economy.  If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

#15 The “wealth gap” between older Americans and younger Americans continues to grow.  According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

If you are doing good in the economy, you should be very thankful because there are tens of millions of Americans out there that are deeply, deeply suffering.

Most Americans understand that something is wrong with this country.  According to a recent Fox News poll, 76 percent of all Americans are “dissatisfied with how things are going in the country”.  At the beginning of this year, that number was only at 61 percent.

So obviously frustration is rising and a lot of Americans are extremely pessimistic right now.  But most of them also believe that things will get better soon if only they vote the “correct” politician into office.

So what do you think?

Do you believe that you have the answer to the economic problems facing this country?

If so, please feel free to leave your “economic plan” in the comments section below….

Instantly Add To The Conversation Using Facebook Comments

comments

  • A Dodgy Bloke

    As I have said before there are people out there who will never work again. I’m personally very pessimistic things will get better. We have no leadership, the MSN are lying to us, and lets face it most people are oblivious to what’s happening. Most people think the Government will save them, think events will not affect them, or believe happy days are just around the corner. As I have said before theses are the people you need to fear because when the poop hits the fan these are the ones who will be running around half-cocked expecting a miracle.

  • KyTim89

    I mentioned this on another page, but it did not get answered and I feel that it is a very valid question for this forum:

    One thing that I have noticed that I find strange is that amidst all the growing poverty in this country we still have people that can afford electronics such as the new iPhone, videogames and various things that range anywhere from $200 to $600. Of course the pool of these people is shrinking, but everytime I pass the Apple Store at the mall it is packed to the rim with people gettin services. This actually confuses me because how can someone still have a job and buy a phone that costs like three or four hundred dollars and at the same a man can not afford the rent on his apartment that costs the same amount of money as any of these gadgets.

    It seems as though the value of the working man is decling. Gone are the days when people actually looked to themselves for solice and rugged individualism is prett much extinct. As a young person, it seems as though you are no longer valuable and are more expendable today than ever before. Why is this?

    • KyTim89

      The main reason I ask this question is because despite all the economic turbulene you, Michael, report, I was just looking at a videogame site and Call of Duty Modern Warfare 3 is selling like hot cakes, so how can this be?

      • Michael

        At the moment, there are two Americas.

        One America is still doing very well and is spending money as if the financial crisis never happened. The stock market is up, corporate profits are rising and life is good.

        The other America (which is growing rapidly) is desperately trying to survive. In that America, there are no jobs, millions of Americans are losing their homes to foreclosure and there is very little hope for the future.

        Michael

        • KyTim89

          The folks that I saw in this Apple store did not appear to be the super rich that is always mentioned, but average people.

    • Michael

      The rich are getting richer and the poor are getting poorer.

      Those that are connected to “the system” still have lots of money.

      If you are not connected to “the system” there is a really good chance that you are going through hard times.

      Michael

    • GSM1(sw)

      There are alot of people living in houses that they have not made a payment on in over two years. The banks are letting them stay in the properties so they don’t sink the value of homes they have already foreclosed on. These people are still spending like they did before, but they are not paying any mortgage or rent. They will continue to inflate consumer sales numbers until they are forced out and have to begin paying rent again.

    • El Pollo de Oro

      KyTim89: Many people in The Banana Republic of America (formerly the USA) are still living beyond their means–perhaps with their credit cards, perhaps with whatever they have left in their savings. But that cannot continue forever, and when those wells run dry, the desperation will become even more widespread. Also, you have to remember that in Third World countries (which is what the BRA is becoming, more and more), you will always have an affluent minority no matter how bad things are for the poor majority.

  • gary2

    Michael and Kevin2 consider this:

    We as a country let many capitalist pigs send our good jobs overseas so they could make a quick dollar in the short run while decimating our country in the process.

    Now the EU has to go to China hat in hand begging for money. China terms will be detrimental to this country. (having to consider them a free market etc)

    What are the new service economy jobs? low pay crap wal mart/mcdonalds jobs.

    Again all so a few capitalist pigs could make a quick buck.

    I do not see other countries sending all their good jobs abroad. They rightly so temper their capitalism with socialism and make the companies subordinate to their countries interest first.

    • mark

      Gary2, how is that mix working out in Europe. It sure does not look so good. Our Founding Fathers had it right. Small Federal Government, duties on imported goods, no income taxes and no welfare state.

    • Kevin

      Gary2

      “I do not see other countries sending all their good jobs abroad.”

      Your sadly mistaken. The developed world adopted “Free Trade”. This is a core reason why they are falling apart economically too. Their tax base declined and debt replaced wealth creation. Germany avoided the worst effects of Free Trade with the developing world because of their dominance in ultra high quality goods (a small market however) that China did not compete in. Yes those socialist democracies in Europe adopted Free Trade despite the very strong influence of their Labor party’s and Unions. That speaks volumes on who is running the world and it is not the voting citizens.

      Remember who voted for all of this. It’s a fact that there is virtually no difference in the Democrat and Republican party on this and the use of the Military to be Wall Streets enforcer. Regardless what they say look at what they do.

      • Gay Veteran

        Germany also has strong labor unions and worker protection laws

        • Kevin

          The rest of West Europe has strong unions and worker protection laws too. Germany has a market for ultra high quality goods that China cannot at this point enter.

  • gary2

    Tax the rich and spread the wealth. You all must by now realize this is coming hard and fast.

    I can hardly wait for capital gains to be taxed as income. Hell they should pay ssi on all capital gains in addition to other taxes.

    We need a yearly asset tax on the rich. All those cars/yachts investments.

    we poor pay property taxes but all the fancy shit like art etc the rich keep tax free.

    • Ben Dover

      OK, slacker.

    • Kevin

      Gary2

      We do not disagree with you on this issue. However it is an addition to solving the problem but not a solution in itself. The money’s collected is small relative to the loss of wages / wealth from the evisceration of US industrial capacity.

      Keep in mind a lot of middle class blue collar people have significant investments too. They (me) will get clipped too. I’ll deal with it but everyone with some money is not a fat cat that made it off ordering other people. My wife and I worked very hard for very long in very difficult conditions.

    • Vladimir

      I totally agree with you!
      TAX THE RICH!!!

  • http://www.planorperish.com Gutter Economist

    GUTTER ECONOMIC PLAN

    All of our presidential candidates are promising tax cuts to stimulate the economy and create jobs.

    WHEN GOVERNMENTS OPERATE WITH A FISCAL DEFICIT, TAXES CAN NOT BE CUT.

    REPLACING TAXES WITH DEBT (PRINCIPLE AND INTEREST) IS ALWAYS A TAX INCREASE.

    DEBT EXPANSION BASED ON THE ABOVE TAX CUT HOAX ONLY BENEFITS BANKS, LARGE INVESTORS, AND WALL STREET (NOT MAIN STREET).

    The deficit needs to be eliminated before selective taxes can be cut.

    (1) Increase taxes on imports, offshore operations, and higher income ranges (individual). Many wealthy individuals do not create jobs.

    (2) Increase the capital gains tax rate on offshore investments to 90 percent.

    (3) End the Bush tax cuts. These have not created jobs in the USA but have increased the national debt.

    (4) Eliminate all tax loopholes (business and individual). A flat tax, sales tax or some combination should be considered.

    (5) Cut spending where unemployment would increase the least. This needs to be done over a long period of time due to the large number of Americans dependent on government spending which does create jobs. Government spending, however, can no longer be based on debt expansion.

    Public sector (government) jobs need to be replaced with private sector jobs. This will only happen if it is more profitable to operate in the USA rather than offshore.

    For the past 30 years, tax cuts have been a complete failure so it is now time to make offshore operations less profitable (higher taxes) rather than making domestic operations more profitable (lower taxes).

    AFTER the deficit is eliminated, however, individual taxes and business taxes (domestic operations) could and should be cut.

  • mondobeyondo

    Especially troubling, since the holiday season is coming up fast. Many retail businesses have already done their hiring (need to have time to train new employees, teach new cashiers how to make change from a dollar bill… I’m kidding! I think….)

    It will be interesting to see the November national unemployment stats next month. It’ll probably drop to 8.6 percent or something, and the Dow Jones will go up 500 points, Diane Sawyer will anchor ABC World News Tonight with pom poms on her hands, and everyone will praise Obama and his “jobs creation plan”! Yaaaay!

    Calm down. It’s only seasonal hiring. When the holidays are over, and all those people at Target and Sears are laid off, it’ll be the same as it ever was. Check back in March or April 2012 and see what happens. (i.e. same as the Census Bureau hiring spree in 2009…)

    It is a terminal decline for the U.S. economy. The sheeple don’t get it. They have a short term memory instead of a long term view.

    • D

      Yep. For one, the job report statistics are flawed and made to fool the public. We all know the real unemployment and underemployment is sugar-coated on a mountain.

      So, 800 new seasonal jobs are made? 900 full-time jobs just left. That’s usually how it goes.

    • Ben Dover

      Most of them couldn’t make change without a machine that does the math for them.

    • Kevin

      They speak of jobs like the Declaration of Independence with “All Men are Created Equal”. Well all jobs are not created equal. The seasonal jobs created are poverty level. Job creation should be described as the percentage of poverty jobs and the percentage of jobs above the poverty level. The value of the job above the poverty level would be helpful too; is it five cents or five dollars per hour above poverty, useful information. I like to compare apples with apples.

      You notice that the more and more people in the US compare us with lesser and lesser countries? “Hay, our poor are not like the poor in India”. Oh my, just keep lowering the bar to avoid the reality of dropping.

      Using the current job accounting practices slavery would count as employment. Oops, better not give them any ideas.

      • Crystal

        Good point, Kevin.

      • knightowl77

        No where in the Decalration does it say “Jobs” are created equal…The equal part is that the law treats you the same as everyone else…There is no nobility or royalty, no one above the law…

        We in our stupidity have allowed a priveleged class to emerge. Celebrities, wealthy and politicians are the new nobility, because we allowed that to happen. We treated them differently…

        Everyone is born with different talents, different levels of intelligence and different levels of drive and determination and therefore the results achieved are not equal…That was never meant to be…there will always be high achievers and low achievers…If you don’t like the level you have achieved, try something different, learn a new skill (one that is actually in demand, hint; avoid basketweaving)try a new location. In short, TRY.

        • Gay Veteran

          well the “priveleged class” class on Wall Street is there because of corruption (like mortgage fraud) and by buying off the Democrats and Republicans in DC

        • Kevin

          Knight

          Of course jobs are not mentioned in the Declaration of Independence. Read what I said. It’s LIKE what they said about MEN being equal. It’s called a para phrase. The Founders wanted us to have the opportunity. It’s the Pursuit of Happiness. The bottom line is jobs are counted as equal when the official statistics are presented and they certainly are not.

          Speaking of the Founders documents the Preamble states, “For Ourselves and Our Posterity”. That covers who the government is to help. Not The World. Certainly not The World at our expense.

      • El Pollo de Oro

        Kevin: You’re absolutely right. Corporate apologists do love to go around saying things like, “But, the American poor have electricity and running water. So they aren’t really poor.” And my response to that is, “So what? Most of the poor in Guatemala, El Salvador and Honduras have electricity and running water. The fact that most of the poor in Jamaica live better than the poor in Sub-Saharan Africa doesn’t mean the Jamaican poor are on Easy Street.”

        • Kevin

          The other phrase used is, “You should pick yourself up by your own boot straps”. This ignores the reality that the industrial base in the US was for practical purposes shipped overseas. When your opportunities are minimum wage bending over to pick up those boot straps is real difficult. The “back in my day we just got a job”. Well back in their day there was jobs to be had that paid sufficiently to support a family. The “You should start your own business also ignores the reality of the customer base that once worked making a decent living now makes minimum wage”. You can’t get blood from a stone.

          It’s like discussing these times with someone locked into 1962. The “No one made big money back then like today” with not a single brain cell understanding inflation.

          The old economic playbook is good for kindling. We’re in uncharted waters.

          • Gary2

            I have been saying you need to look at absolute vs. relative poverty. It means nothing to compare the poor in the USA to the poor in thrid world countries.

            Maybe we should be comparing CEO pay to that of other countries. That would at least be more consistent. how about the tax rate the rich pay in other countries vs. the low tax rate the rich pay here?

            The right has no problem denigrating the poor for living better that a person in Africa living in a hut, however they overlook the vast differences when comparing the rich and CEO’s to those of other countries.

            As usual the right wing worships the rich. What scum bags

  • mondobeyondo

    RE: Item #14.
    That is truly sad.

    Many of those households no doubt are busy paying back hundreds of thousands of dollars of student loans accrued to pursue an advanced education, in the hopes of acquiring a high paying job at Kentucky Fried Chicken after they graduate.

    Yeah, this train really went off the rails…

    • Kevin

      For many attending college the objective of obtaining a high paying job was not high on the list. What they wanted was to do something for a living that interested them. That was the main priority. I attended college later in life for personal fulfillment and spoke to many a late teen, twenty something about their choices. They just assumed (without researching) that a job was available for interior decorating, film editing and the like. All of this on Mom and Dads dime.

      Many spent four years taking up space.

  • JR

    Just a quick note to the banksters (Obama White House: A Div. of Goldman Sachs) from the Bible (Eugene Peterson’s translation, The Message):

    “And a final word to you arrogant rich: Take some lessons in lament. You’ll need buckets for the tears when the crash comes upon you. Your money is corrupt and your fine clothes stink. Your greedy luxuries are a cancer in your gut, destroying your life from within. You thought you were piling up wealth. What you’ve piled up is judgment.

    All the workers you’ve exploited and cheated cry out for judgment. The groans of the workers you used and abused are a roar in the ears of the Master Avenger. You’ve looted the earth and lived it up. But all you’ll have to show for it is a fatter than usual corpse. In fact, what you’ve done is condemn and murder perfectly good persons, who stand there and take it.”

    Now… maybe the Bible isn’t true, as you hope. But on the other hand, if it is – and there are many, many highly educated people who believe it is – you could be in for a world of hurt.

  • JR

    … and if you don’t like the Bible, try (I’m pretty sure it was Aristotle, but I may be wrong), who said:

    If you do evil with pleasure, the evil remains while the pleasure passes away; if you do good with pain, the pain passes awaym, but the good remains

    And no, the Bible is not unique in terms of the “do unto others as you would have them do unto you” ethic. Ratherm where it is unique among all world religions is that it claims to be able to provide God’s power to live this way.

  • D

    I’ve said it before, but I think the retail industry will take a big hit this holiday season. Black Friday is needed for the stores to come out of the red, and it might not happen like the previous years.

    All it takes is a layoff to realize something isn’t right, and more of them are happening. Regardless, the sheeple heavily outweigh “us” and will deny any facts of a continued financial depression.

  • expatriot

    The guy who said “some Americans will never work again,” was right. Just think about that. If you’ve been unemployed over two years many decent jobs won’t even take your application. The only jobs available if your lucky are minimum wage jobs. That will be the trend for years to come. Our country will move very rapidly to a society of working poor and super rich. The middle class will shrink to nothing.

  • Highspeedloafer

    Michael, I guess I am one of those fortunate individuals who hasn’t been effected by the troubling economy, other than the inflation that is gripping the whole country. I have a second home at the beach that I travel to every two weeks. The thing I have noticed most is the diminishing crowds each year. Another thing I’ve seen is that more and more people are keeping any and all fish that they catch. I talked to one woman who was even keeping what we call pin fish, they are small bony fish that would be very hard to eat. She said that some days thats all she had to eat. I also found out that she was fishing without a license, which showed desperation, because the fines are absolutely outrageous. One day I was on the pier and saw a guy following a DNR officer, he was begging him to take the ticket back, knowing he couldn’t pay the $300.00 fine for a fish that was 3/4 inch too short.
    Our government has absolutely no compassion, God help us all.

  • ScoutMotto

    Abolish the Federal Reserve and the Internal Revenue Service. If you abolish the federal income tax, you would immediately infuse the economy with over half a trillion dollars. People would spend like no tomorrow because they would have disposable income to put back into the economy.

    Most states have an income tax on top of the federal one. Since in most states your requirement to file a state return is predicated upon your requirement to file a federal return, the state income tax can be abolished as well. This means more money remaining with those who earned it.

    We would be a prosperous nation again without the income tax stealing the labor of the people. The federal income tax lines the pockets of the stockholders of the Fed. There is no excuse to tolerate this rape of the people by 535 Congressmen. Congress has the constitutional authority to put a stop to this robbery.

    This is how you fix the U.S. economy, not with the class envy touted by Cookie Monster.

  • John

    OWS knows there is something wrong with our country, they just have a hard time articulating it.

    • knightowl77

      or articulating anything….

    • http://www.planorperish.com Gutter Economist

      MAKE A DIFFERENCE

      Print up several hundred business cards with the following website addresses and pass them out OWS events:

      http://endoftheamericandream.com/

      http://theeconomiccollapseblog.com/

      • Michael

        Gutter Economist:

        That is the kind of change that I can really get behind. ;P

        Thank you for suggesting that.

        Michael

  • Larry Hull

    No matter the party affiliation, there are very few statesmen willing to do what is best for the nation rather than themselves. Our country was founded on Christian principles by a majority of people who put God first and did what was in the best interest of the country as a whole — and look what we once had!!! Most of the population today — especially our elected officials — care only about increasing their power and wealth, while the country collapses. This country has been under assault from within for decades and is now on life support, but fading fast. There will always be a remnant of believers who will be protected from the attacks of the god of this world long after our government and others around the world collapse. For those of you who now realize that our governments not only have no answers, but are also unwilling to listen to us, I suggest these sites: http://www.youtube.com/truthortradition#p/u/18/k2zm_kTA1rs http://www.youtube.com/watch?v=UJzEZrx7_iI

    • Highspeedloafer

      I really miss Jessie Helms. He was my all time political hero.

  • Kevin

    Gutter

    Tweak your suggestions.

    1)” Increase taxes on imports”

    At this point one must be very selective here. Taxing basic necessities right now would have adverse effects. However luxury items made overseas must be taxed. A gradual tax upon imports must take place and the money used to facilitate manufacturing in the US. Have it offset tax breaks on US employment (as opposed to US Companies that employ overseas).

    • http://www.planorperish.com Gutter Economist

      Total Agreement

  • http://www.economicon.info/ Leigh Kimmel

    I’m noticing that my bookselling business is continuing to show slow sales even as we’re moving into what should be the Christmas season. In 2007 and early 2008 I could count on having three or four books to ship every day, and eight or ten after a weekend. Now I’m doing well to ship one or two books a day.

    When people don’t have money, they can’t buy the things that keep the retailers afloat. I’m really looking at the possibility that I need to concentrate more on other streams of income, and reduce my inventory, which is costing me money when it doesn’t move.

  • ctd

    Let me tell everyone of exactly what is going on because I am an employee of the Big corporation with a stable good salary, but I am also an employer because I have several retail businesses. As a stable educated job there is no effect but it is good because the pay is high and the spend is low because of many discount and on sale now a day. However, as a retailer businesses (employer of small business), I can see the daily sale is very bad because there is no money to spend from most majority of the people. The daily sale is reduced 15-20% per year or from 2007 to now is about 50% to 65% decrease totally. It is getting harder and harder everyday to everyone as I saw. Also, the price is keeping going up all the time (inflation) and the sale is getting down and down because people have less and less to spend and less to buy because the inflation is going up about 10% a year.

  • http://thoughtsaloud.com ◄Dave►

    All those advocating tax increases on businesses and the ‘rich,’ need to realize they are simply asking for an increase in their own cost of living. We already have a ‘flat’ consumption tax, it is just hidden in the costs of the products and services we consume. Taxes are just another expense item for businesses. Every tax paid by any business, or by the employees (including owners) of any business, are paid out of income it receives from its customers, which would be you, dear consumer. Raising taxes on a business is no different than raising any other cost of doing business. If it wishes to survive, it has no choice but to raise prices to cover the increased cost. No amount of wishing, complaining, or hand wringing over ‘fairness,’ could ever change this fundamental truth: ALL taxes are ultimately paid by consumers. It could not be otherwise.◄Dave►

    • gary2

      I will risk it-tax the rich hard!

      • Malcolm Reynolds

        Somehow it’s of no comfort when an idiot communist is willing to risk it.

  • http://thoughtsaloud.com ◄Dave►

    Further, since consumers are paying all the taxes anyway, the best way to stimulate the economy, increase tax revenue, and create high paying jobs, would be to enact something akin to the “Fair Tax.” Eliminate ALL taxes on businesses, income, and capital gains, and the capital that has been driven offshore will come flying back to be invested in new businesses here. Soon, demand for labor would outstrip supply, and wages would necessarily rise as businesses compete for the talent and labor they need to function. The more people earn, the more they will spend; the more they spend, the more revenue government receives. Everybody wins. Best of all, since consumers would then actually see what percentage of their hard earned money is going to fund government, politicians would have a devil of a time increasing taxes. Then, if we could educate citizens to realize that all government regulations and mandates on businesses are also paid for by the consumer, perhaps we could throttle the regulatory bureaucracy too. ◄Dave►

    • Gay Veteran

      we need a financial transaction tax on stocks, derivatives, etc.

      that will raise money to reduce the deficit and help to eliminate the speculation on Wall Street which is destroying our country.

      • KnightOwl

        No, we really don’t need any more taxes.You’re listening to those leftists in Europe and the IMF again…..

        • Gay Veteran

          sorry KnightOwl, but the banksters on Wall Street are destroying this country. A financial transaction tax will help stop that

  • sarah monol

    The US economy is in the toilet right now. A lot of people don’t have jobs and a lot of people are protesting on wall street and blaming the banks for what is happening. I had a hard time finding a job in the real world but I recently discovered how you can make money online by answering surveys. It is very easy and you can work from home.

    http://adf.ly/3eQ5y

  • http://www.truthinsilver.com 911insidejob

    The government will not provide solutions.

    Only viable solution I see for US citizens: move to another country. One with very good railroad and public transit systems.

    Move out of McMansions and stop driving cars. Become China of 1970. Then jobs will come back.

    • Kevin

      The standard of living in the US will drop but it will remain sufficient to keep social order so the MIC continues. The US military is the enforcer of Wall Street. Without it they have no teeth.

      We’re dropping but overall the US will be the place to be. One may have to relocate to an area that has oil, natural gas and farms. It’s a no brainer to get out of the former industrialized cities. There will be pockets of places that will rival the 3rd world.

    • Malcolm Reynolds

      “Become China of 1970.”

      Become a country that was murdering MILLIONS of it’s own citizens? Yer dumber than a bag of hammers, moron. I vote the govt starts with you and Gary2.

  • Gary2

    Taken together, the Bush years exposed the bankruptcy behind the theory that tax cuts for the rich will spur economic growth. “Let the rich get richer and everybody will benefit?” says Stiglitz. “That, empirically, is wrong. It’s a philosophy of trickle-down economics that’s belied by the facts.” Bush and Cheney proved once and for all that tax cuts for the wealthy produce only two things: “lower growth and greater inequality.”

    The GOP’s frenzied handouts to the rich during the Bush era coincided with the weakest economic expansion since World War II – and the only one in modern American history in which the wages of working families actually fell and poverty increased.

    This proves we need to TAX the rich HARD.

  • http://www.1913intel.com Matt

    Positive Feedback + Moral Hazard = Crash

    Society moves into the future with a positive feedback loop. That means as we moved into the future actions build upon themselves. And that is not a good thing.

    Moral hazard means you change your behavior when cushioned from stupid choices. You’ll make more stupid choices if you don’t pay the full price.

    Eventually society will experience a massive crash due to the build up of bad decisions.

    How do we get back on our feet fast?

    You need a negative feedback event. Iceland shows us the way here. Just let things fail, and do nothing to stop it. Iceland is now starting to do much better because it just let its banks fail when they ran into trouble.

    • http://www.dailykos.com/blog/rebelwithacause rebelwithacause

      I totally agree with you. Let them fail. Let the bottom fall out so we can rebuild. Band-aids do not work on hemorrhages.

  • Big Al

    The official US poverty line is calculated as:

    Three times the minimal food budget for a family of four.

    Not

    Three times the minimal food budget +
    housing + fuel + transportation + health-care.

    If you’re in poverty, without the basic elements needed to function in society, is any recovery realistic? Wouldn’t redefining poverty to include the basics give a more accurate representation of when people need some help? Helping someone when they still have a bit of scratch to work with, would improve the odds of a full recovery. We set the bar so low, it makes me wonder how close the poverty level in America is compared to India? Does India base their poverty rate on more than three times the minimal food for a family of four? Thanks for reading.

    • Kevin

      As we decline poorer and poorer nations are found to compare ourselves to. When I was a kid we compared ourselves places with running water, sewers and electricity like Europe. Now they just lower the bar. “Our poor live better then the poor in the third world”. That is true but were trying to catch up. Give us time.

  • http://www.dailykos.com/blog/rebelwithacause rebelwithacause

    We are who we have been waiting for. The solutions will come from each and every one of us but only in working together. People have to change. Yes, the economy is in crisis and it is unsustainable. All of the systems in place are broken and need replacing. It doesn’t matter which part of it you fix, it will continue to need fixing and it will continue to break down. We are living in a globally connected world, where we are being forced to recognize our interdependence on others. I do agree that we need to shift from a consumer driven economy to one where we work to contribute and at least have our basic needs met (food, clothing, shelter, and health care) Only by shifting our way of thinking can this be accomplished. The same old ways will not work anymore. It is not the economy that is in crisis it is the humans.

  • A Randall

    Americans watched for decades the following problems and said/did nothing. Millions of illegals pouring across the border annually. In turn lowering wages, committing crimes, costing taxpayers at least 1/2 a trillion dollars and blurring and diluting your citizenship to near worthless.

    Over 100 trillion dollars in debt even though it is officially tracked at 15 trillion. Because of this the dollar has lost at least 20 % this year. Most Americans aren’t smart enough to realize this. Essentially their savings was reduced 20 %.

    The Liberal Progressive Socialists Democrats have taken over the education system training good Socialists/Communists. Millions o Americans students learn a half day in Spanish then the remaining day in English aiding the illegals in dominating then changing what remains of our culture. You will soon see millions celebrating foreign holidays then Congress granting mandatory time off while the holidays supporting our founders are gone.

    Yes cowardly Americans if want to see who is responsible for all this just stand in front of the mirror

  • A Well Regulated Militia

    can you really blame these corporations for leaving,when the unions suck every dollar out of them? the dollars per hour are just plain greed in its truest form,true the unions were needed some 40 years ago but employers have leared how to treat their employees and really no longer need a union to protect them,but I am very hard pressed to say anything good about unions beyond that

    • Kevin

      Well Regulated

      Why did the US Textile Industry traditionally very low paying and for the most part non union (or a union in name only) flee to Asia? It’s because $10 /hr was far too much to pay when 50 cent labor was available. Personally I’m happy the US Steelworkers made top wages because regardless their jobs we’re going overseas.

      “employers have leared how to treat their employees and really no longer need a union to protect them”

      Employers did not learn, they we’re forced. The threat of the employees unionizing is what motivated the employers treatment of employees. Remove that threat and watch the treatment decay. Given time it’s 1934 all over again. You can bet on that.

      Wall-Mart gets sited for cheating individual employees out of nickels and dimes claiming workers are contractors as opposed to employees avoiding the fair labor standards act requiring 1 1/2 pay after 40 hours work in a week and slighting social security contributions in the process. That is one small indication of intent. Regardless if there are laws how long does a whistle blowers job last if they are non union.

      “How does a company compete with 50 cent per hour labor”? Answer, “Pay 49 cents per hour”.

  • http://itsafluffy.blogspot.com D.L.

    Want solutions? Live below your means! We’ve been doing that for years, and now that we have to put our daughter through college (and, since she is learning Asian languages, she WILL be able to find work after graduating, even if it is overseas…and I don’t mean the military) because we make too much money for Pell Grants, we can do it. How? By being frugal the last 30 years or so, and relying on God.

    Two, if you can afford to, buy land in the rural remote, grow a garden starting in the spring, learn low tech skills so you can repair stuff, learn hunting and fishing, learn how to fix your vehicles, sewing, canning food, and other survival skills, and get with your neighbors.

    • Kevin

      Living below your means and savings is just being normal. Unfortunately abnormal has become the new normal.

      Moving to the sticks and living off the land is not a solution, it’s a survival strategy. I’m not saying it’s not going to be necessary. A solution would include having sound money, massive industrial capacity, balanced budget and opportunities for our kids.

      I’m out of solutions at this point. I think the horse has left the barn.

  • MilesN

    To all who proposed any solutions to the problem I have but one question – how you’re going to implement them? Through system of government ( level notwithstanding) which was (and is) under control of the rich behind-the-scenes elite for DECADES? Do you really think that you’ll gonna get through with it and don’t end up like JFK? (I’m not saying he was a saint or didn’t have a hidden agenda or whatnot. Just showing how much big money can do. Whoever you are, you aren’t safe if you cross Big Money’s path. Regardless of your public stature. Nowdays you wouldn’t be even killed, most likely, sex scandal will occur, and than you’re politically dead. Totally out-of-touch-with-reality elimination mechanism but it works perfectly. No. The system won’t let you through. Invalid login/pass pair, sorry. Which are issued by the aforementioned elite., which also set the accesa policy. Speaking IT-talk you’d have to not only reboot the system (which would be a feat itself). For this solution to get through you’d have to do a low-level format procedure. exterminating every existing element of control structure and than install new OS. No way around it. And he process wouldn’t be painless. And minf you, newly installed OS would also get bughs and glitches overtime and at some point will also become totally unworkable too. Normal circulation of events, only difference that instead of bytes bneing deleted, the would be peoples’s lives gone. A massive amount of it. Current system is irremovable by peacful means, because it control all and every entry points

  • Virginia

    Gone are the days when you could pick a career, go to school for it and live happily ever after. Things change so quickly today that picking a career is no longer an option. You can’t go by what the “experts” tell you because there are no experts anymore. No one has the answers. The dominos are falling and that is the only thing we know for certain.

  • chris

    Crush kill and destory anyone that gets in the way of the United States of America. Dont’ Crush them and then give them billions of dollars for free, while people here don’t have a pot to piss in.

  • michael wenz

    THINK PEOPLE! ABOLISH THE FEDERAL RESERVE, COLLECTIVELY THE 99% NEED TO STOP BICKERING AND COME TOGETHER OUST ALL THE CORRUPT POLITICIANS, AND APPOINT A PERSON WHICH IS A FINANCIAL CEO, AND LET THEM KNOW WE THE PEOPLE WILL NOT ALLOW COMPANY INTREST TO INFULTRATE GOVERNMENT. ALL COMPANIES WHO HAVE TAKEN U.S JOBS OVERSEAS TO BE EXILED OUT AND NOT ALLOWED TO SELL THEIR GOODS IN THIS COUNTRY EVER AGAIN. RESTRUCTURE CEO PAY NO CEO MAKES MORE THAN 150,000 PER YEAR, NO BONUS, CEO’S ARE PREDOMINANTLY ALL WEALTHY ALREADY. REACTIVATE THE ECONOMY FROM WITHIN USING THE GOLD STANDARD, START JOBS OUT ON THE LOCAL LEVEL, AND SPEND LOCALLY ON AMERICAN MADE PRODUCTS, JUST TAKE THE TIME TO TURN OVER THE PRODUCT, IF IT DOESNT SAY 100%% MADE IN THE USA BY LEGAL AMERICAN WORKERS DONT BUT IT.STOP BEING A COUNTRY WHO CONSUMES SO DAMN MUCH, THINK ABOUT WHAT YOU NEED, AND REEDUCATE YOURSELVES ABOUT THE DIFFERENCE BETWEEN WANTS, AND NEEDS, MOST WANTS ARE MADE IN CHINA, OR ELSE WHERE, WHERE THEY USE FORCED SLAVE LABOR. MADE IN AMERICA, FOR AMERICANS, ONCE THAT MEANT SOMETHING, EVEN TO PEOPLE AROUND THE WORLD, BECAUSE WE HAD THE BEST MADE PRODUCTS IN THE WORLD. HELL NOT EVEN LEVIS ARE MADE IN THE GOOD’OL USA ANY LONGER, THEY SOLD OUT TO CHEAP LABOR, BUT DID THEY REDUCE THE PRICE? NOOOOOOOO. THEY INCREASED IT, HOW STUPID ARE WE. JUST STOP BUYING THE CRAP, MAKE YOUR OWN JEANS, OR FIND A COMPANY WHO MAKES THEM HERE. HOW LONG DO YOU THINK THE 1% WOULD LAST IF THE 99% GOT THEIR HEAD OUT OF THEIR BUTTS AND RETALLIATED AGAINST THEM, WOULDNT BE MUCH OF A FIGHT THEY CANT EVEN CRAP WITHOUT HELP FROM A 99%ER TO PROCESS THEIR WASTE AT THE TREATMENT PLANT. STOP CATERING TO THE RICH, AND WHAT YOU PRECEVE TO BE PEOPLE MORE POWERFUL THAN YOU, THEIR NOTHING BUT A BUNCH OF WALKING VAGINA’S WITH NO BACK BONE TO FIGHT, OR DO ANYTHING FOR THEM SELVES, HELL THEY CANT, THEY HAVE HAD THE 99% CATERING TO THEIR EVERY NEED FOR CENTURIES, AND WE PUT OURSELVES IN THIS POSITION. TAKE BACK WHAT IS RIGHTFULLY YOURS FREEDOM FROM OPPRESSION. THEY WILL HAVE THE 99% ERS ROUNDING ALL OF U UP INTO CONCENTRATION CAMPS WHICH THEY WILL CALL REEDUCATION CAMPS IF YOU STAY ASLEEP MUCH LONGER AND DONT DEVELOP A SPINEAND FIGHT BACK. FORGET ABOUT OCCUPY WALL STREET ITS A SET UP TO INACT MARTIAL LAW, THEY KNOW THESE GROUPS ARE SMALL IN NUMBERS AND EASILY CONTROLLED BY RIOT POLICE AND NEWLY CREATED NORTH AMERICAN COMMAND TROOPS, WHICH ARE TRAINNING AS WE SPEAK WIHT UNITED NATIONS TROOPS WHICH WILL NOT HAVE A PROBLEM KILLING AMERICANS.. 150 MILLION MEN ARMED AND MARCHING ON WASHINGTON D.C WOULD GET THEIR ATTENTION, BUT WE THE 99% CANT EVEN AGREEE ON THE TIME OF DAY, MUCH LESS ORGANIZE A MILITIA TO ************** A CORRUPT GOVERNMENT. EDUCATION! FOUNDING FATHERS….WE THE PEOPLE ARE THE INACTIVE MILITIA, TO PREVENT TYRANNY, TYRANNY WHICH IS GOING ON NOW AS WE SLEEP, WE ALL KNOW WHATS COMMING, YET CHOOSE TO STAY ASLEEP, YES ITS EASIER THAT WAY, THINK ABOUT THAT AS YOURE WALKING INTO A GAS CHAMBER………..THE U.N, AND THE NEW WORLD ORDER IS ROMES, AND HITLERS DREAM REALIZED…… WORLD DOMINATION! LOOK UP SCOCIEOECONOMIC SUSTANIABILITY IT WILL SHOW YOU THAT HERE IN THE UNITED STATES THE POPULATION MUST BE AT OR BELOW 150 MILLION TO SUSTAIN GROWTH, AND BE AN ECONOMICALLY SUSTAINABLE COUNTRY, HOW DO YOU SUPPOSE THEY WILL GET THE POPULATION BACK DOWN TO THAT LEVEL WITH A POPULATION OVER 350 MILLION NOW. DEPARTMENT OF HOMELAND SECURITY, CONCENTRATION CAMPS, THERE EVERYWHERE, AND NOW ON 72 HOUR ALERT TO ACTIVATE IN THE EVENT OF A CATASTROPHY LIKE A ECONOMIC CRISIS, OR NATIONAL EMERGENCY, READ THE WRITING ON THE WALL PEOPLE,STAND TOGETHER OR DIE ALONE. WE ARE AT THE BRINK, WILL YOU GO WILLINGLY INTO YOUR CHAMBER AS A WALKING CORPSE, YOU ARE THE 99%, THEY DONT CARE IF YOU SURVIVE OR NOT, THEY HAVE EVERYTHING SO THEY THINK……YOUR HEART, AND MIND IS THE NEXT STEP AGREE WITH THEM, AND BECOME A SLAVE TO THEM OR DIE…..MYSELF….I WILL ********, AND BE QUITE SATISFIED TAKING AT LEAST SOME OF THEM ************, THEIR MONEY CANNOT BUY LIFE, AND THEY ARE AFRAID OF DIEING, THATS WHY THEY USE THE 99% TO FIGHT THEIR WARS OF GREED ONLY TO ENRICH THEMSELVES AT THE EXPENCE OF THE 99% WHO WERE IGNORANT ENOUGH TO FIGHT THE GOOD FIGHT IN THE NAME OF PROFITEERING, NOT FREEDOM FROM OPPRESSION. TAKE THIS AS A DIRE WARNING, I AM AN AMERICAN IMMIGRANT FROM GEERMANY IN 1964, AND A VETERAN OF THE U.S ARMY, SO I WAS ONCE BLIND ALSO, ITS THE REASON I CHOSE TO EXIT THE MILITARY, I HAVE DONE MANY BAD THINGS TO MANY GOOD AND INNOCENT PEOPLES IN THE NAME OF PROFITEERING, I HAVE TO LIVE WITH ALL I HAVE DONE, AND IT HAUNTS BE DAILY…PLEASE WAKE UP AMERICA OR YOU WILL BE FIGHTING FOR YOUR LIFE WITH NO CHANCE OF VICTORY FROM OPPRESSION.

  • Nerios

    Let’s ask God He speaks TRUTH > Matt 6:24 <notice the "6" and the sum of "2+4= 6" No one can be the slave of two masters:he will either hate the first and love the second, or be attached to the first and despise the second. You cannot be the slave of God and of money. D=500 C=100{6oo L=50 X=10{60 V=5 I=1{ the sum of these numbers The M appears to have been merely two D’s- “666″images denotes a form or likeness it may have been like the form of a man standing on a pedestal of which height was included The pedestal being probably 24 (6×4) cubits and the image (6×6); the base of the pyramid on the dollar bill is 36,000 cubits or (6×6) ‘ “666″ also the ancient pagan mysteries worship of satan ; “6″ meaning labor and sorrow marking the culmination of man’s oposition to God in the coming Antichrist if you turn your 1 dollar Bill sideways that webbing is really skull and bones of freemasonry ; the eagle on the back of the dollar bill is holding “13″ arrows and “13″ olive leaves along with “13″ stars above the eagle- “13″ in connection with rebellion apostasy defection corruption disintegration revolution>now let’s look at > Revelation “13″:18- There is need for shrewdness here:anyone clever may interpret the number of the beast: it is the number of a human being, the number is “666″ Revelation “13″:15 It compelled everyone-(pay close attention to these next few words>)”SMALL and GREAT alike RICH and POOR,SLAVE and CITIZEN to be branded on the right hand or on the forehead and made it ILLEGAL for anyone to BUY or SELL anything unless he had been branded with the name of the beast or with the number of its name-United States Proverbs “6:”12-14

  • ray w

    1) star by implementing a consumption-based tax and eliminating the punitive income tax. By doing this foreign imports will instantly be less cost competitive against domestic products.
    2) Balanced budget amendment at the federal level and an overhaul of the federal reserve system. No private bank should be able to charge the american public interest on money created out of thin air.
    3) Practical trade barriers to foreign good, comparable to those used by S. Korea and Japan against US imports.
    4) Slash military spending. If any country wants a US military presence, let them fully fund us for it.
    5) Secure our borders, use E-verify to encourage illegals to self-deport.
    6) Congress and federal gov’t employees use the same social security system, medicare, and 401Ks as the private sector.