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Recession Over Or Just Beginning? 21 “Oh Crap!” Statistics About The U.S. Economy

Is the recession over or is the economic downturn just beginning?  Barack Obama and the Federal Reserve have been busy proclaiming that the U.S. economy is back on track, but the sad truth is that our economic problems look like they are about to get a whole lot worse.  Without oil, our entire economy would shut down cold.  Thanks to the chaos in the Middle East, oil is absolutely exploding in price.  In fact, the price of oil in the United States went up more than seven dollars today.  The global price of food has risen to record levels over the past 12 months and it is projected to continue to rapidly increase throughout all of 2011.  This is going to hit struggling families all over the globe very hard.  Meanwhile, thousands of manufacturing facilities and millions of good jobs continue to flee the United States.  The gap between the wealth that we consume as a nation and the wealth that we produce as a nation continues to grow.  We have attempted to fill this gap with asset sales and with massive amounts of debt, but that is a game that cannot last forever.  When we come to the end of every single month, we are poorer as a nation and we are deeper in debt as a nation.  From “sea to shining sea” we have become a nation that is flooded with red ink.

But most Americans still buy in to the whole “American exceptionalism” thing.  While it is true that there is something really special about the nation that our founding fathers originally established, the truth is that we are not guaranteed to be “the greatest nation on earth” forever.  Over the last couple of generations we have really been abusing the great legacy that was passed down to us.  America was once the greatest economic machine on the face of the planet.  The American people were once strong and brave and of noble character.  At one time, America was first in almost every major category that mattered.

Are any of those things still true today?  Of course not.  The once great American economic powerhouse is being gutted and ripped to shreds right in front of our eyes.  A large percentage of our population has become fat, lazy and obsessed with things like American Idol and Justin Bieber.  We have become so dumbed-down that most of us don’t even realize that something is seriously, seriously wrong with this country.

The U.S. economy is on the verge of major problems.  That also means that the entire global economy is on the verge of major problems.  These next couple of years are going to be very interesting to watch.  We truly are in unprecedented economic territory.

The truth is that things are not nearly as good as the talking heads on television say that they are.

The following are 21 “Oh Crap!” statistics about the U.S. economy….

#1 U.S. light sweet crude for March delivery closed at $93.57 on Tuesday.  That was up $7.37 in just a single day.  Brent crude rose to $108.57 a barrel before settling back to $105.78.

#2 In the years since 1975, the United States had run a total trade deficit of 7.5 trillion dollars with the rest of the world.

#3 According to the World Bank, global food prices have soared 29% over the last 12 months.

#4 The United Nations is projecting that the global price of food will increase by another 30 percent by the end of 2011.

#5 Michigan has approved a plan to shut down nearly half of the public schools in Detroit.  Under the plan, 70 schools will be closed and 72 will continue operating.

#6 If the U.S. government adopted a balanced budget today, approximately 12 percent of U.S. GDP would be wiped out.  Can anyone say “instant depression”?

#7 Two years ago, the average U.S. homeowner that is being foreclosed upon had not made a mortgage payment in 11 months.  Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.

#8 Single family home prices in the United States declined for the sixth month in a row during the month of December.

#9 According to CNN, in 2009 the wealthiest 10% of all Americans controlled half of all the wealth in America.  CNN is also reporting that back in 2009 the wealthiest 0.1% of all Americans controlled approximately 10% of all the wealth in the country all by themselves.

#10 According to Moody’s Analytics, the wealthiest 5% of households in the United States account for approximately 37% of all consumer spending.

#11 The CredAbility Consumer Distress Index, which measures the average financial condition of U.S. households, declined in every single quarter in 2010.

#12 The average CEO now makes approximately 185 times more money than the average American worker.

#13 In 2010, more than a million U.S. families lost their homes to foreclosure for the first time ever, and that number is expected to go even higher in 2011.

#14 When you adjust wages for inflation, middle class workers in the United States make less money today than they did back in 1971.

#15 China now controls about 97 percent of the total global production of “rare earth elements”.  China is using this monopoly power to persuade foreign high technology firms to relocate to China.

#16 Average household debt in the United States has now reached a level of 136% of average household income.  In China, average household debt is only 17% of average household income.

#17 In Canada, 117 out of every 100,000 people are in prison.  In Japan, 59 out of every 100,000 people are in prison.  In the United States, 743 out of every 100,000 people are in prison which is the highest rate by far in the world.

#18 There are currently more than 4 million Americans that have been unemployed for more than a year.

#19 The Social Security trust fund will run a deficit of 56 billion dollars this year.  Just a couple of years ago government planners were promising that we would not have any Social Security deficits until at least 2016 or 2017.

#20 The U.S. national debt is over 14 times larger than it was just 30 years ago.

#21 During Barack Obama’s first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.

U.S. government debt is spinning wildly out of control and our politicians seem powerless to even slow it down.  The globalization of the world economy is ripping millions of jobs away from middle class Americans and most of our politicians appear unwilling to lift a finger to stop it.  Barack Obama, the Democrats, the Republicans and the Federal Reserve are all running our economy into the ground, and yet the mainstream media keeps telling us that these are the “heroes” that are going to turn this whole thing around.

The problems with the U.S. economy are not that difficult to figure out but they are going to be incredibly difficult to solve.

Why?

Because there are some very powerful people that are making obscene amounts of money off of our economic suffering.

There is a ton of money to be made lending hundreds of billions of dollars to our federal government, our state governments and our local governments every year.

There are huge profits to be made by getting rid of American workers and setting up new manufacturing facilities in countries where they allow workers to be paid slave labor wages.

Do you think that the ultra-wealthy people making tons of money from the current economic system are just going to roll over and give up because we ask them nicely?

No, the truth is that the ultra-wealthy have no intention of changing things.  In fact, they pretty much control both political parties in America.  Why do you think they give so much money to political campaigns?

It isn’t because they are trying to be nice.

The love of money is the root of all kinds of evil.  Those at the top of the pyramid love the current system because it makes them massive amounts of money.

Unfortunately, the road that we are currently on is going to end in complete and total economic disaster for the entire world.

That won’t be good for anybody.

The Beginning Of The End - The New Novel About The Future Of America By Michael T. Snyder
  • nakedguydb

    so when are the wheels going to fall off the wagon ? you say it is coming apart , you never say when . how many yeasrs have you been saying this ?

  • Golden Child

    I agree that the average American is fat, dumbed down and lazy like Homer Simpson. And sadly, tens of thousands of Americans who are fortunate to have “real jobs” don’t work at all. They sit on their humungous asses all day at “work” from 9 in the morning to 5 in the afternoon and surf the net. If you need proof you can scan dozens of celebrity gossip blog sites and read the daily comments obviously written by people “at work”. Some of the gossip posters on these blog sites label certain racy images as “not appropriate for work”. Really?! The average American doesn’t work anymore. Leave working to illegal immigrants and visa holders. The rest of us can subsist off of government handouts or fall asleep behind the boards at our respective Springfield Nuclear Power plants.

  • Elihu

    It’s going to crumble; it’s been a ‘slow train wreck’, but it’s going down…

  • mondobeyondo

    The Great Recession never really ended. It is still ongoing, and it will be for a while.

    The mass media has convinced and manipulated you to believe that everything is fine, businesses are hiring, life is good again, yada yada. Even home equity loans are coming back – that was a feature story on local radio the other day.

    Just like Hoobert Heever (okay, Herbert Hoover) said back in 1931 that the “present crisis is over…we are on our way to recovery”, or words to that effect.

    Ha!

  • mondobeyondo

    @ nakedguydb

    Don’t worry, the wheels will be coming off very soon. This big rig is riding on the rims right now, and the sparks are flying…

  • john

    Things will not change by hiring new politicians.

  • Piglet

    When will the wheels fall off the wagon? We’ll certainly know when it happens. Right now we’re like Wile E. Coyote, having fallen off a cliff and dropping down into the canyon. In his position, some of us are tempted to say, “So far, so good.” Exactly when the impact takes place isn’t as important as realizing that, having fallen off the cliff, it’s inevitable at this point.

  • Michael

    I hope gas goes to 10 dollars a gallon.

  • Alan

    You know what? If you would have asked me what the biggest threat to my safety and quality of life would have been a year ago, I would have said terrorist attack or major natural disaster.

    But, now I would say it would be man-made economic collapse. Food and fuel prices are rising so fast that I fear that the average household will need to start rationing basic consummables and that hunger may be common for everyone for the first time since the depression.

    http://www.familysurvivalcenter.com/news.htm#famine

    Myself, I’m stocking up on rice, beans and canned goods. I don’t think that anything will be more valuable than food 12 months from now.

  • mondobeyondo

    Recession over? Recovery?

    The Great Recession is still in progress.

    For the longest time, George W. Bush denied that the U.S. was even in a recession. He would use phrases lie, oops LIKE (Freudian slip! Honest!!)

    “A severe economic downturn”, “Declining productivity”, “Hard times”, etc.

    And so on and so forth. He never used the “R” word, until things got so bad that he had to.

    Now that the recession is over (hee hee!) Obama is trying to convince us all that things are getting better. It’s a jobless recovery. Uh-huh. Just like that automobile recovery, fueled by Fed money to bail out GM and Chrysler. SUV’s are selling well again – yippee! The price of gasoline is $3.20 a gallon. Boo, hiss. Blame the higher oil prices on Daffy Gadhafi over in Libya.

    No such thing as a “jobless recovery” truly exists, in real life, picket fence suburban America – if that still exists anymore. Without real jobs, with well paying wages, there can not be a recovery.

  • smitty

    Our Father who art in heaven hallowed be thy name. Thy kingdom come Thy will be done on earth as it is in heaven.Give us this day our daily bread and forgive us our debts as we forgive our debtors.Lead us not into temptation but deliver us from evil. For thine is the kingdom the power and the glory forever Amen.

  • David KC

    Of course we are out Reccession and in Depression, this country is so “dumbed-down” by the media and the government. This link “How The Government Spins Unemployment”
    See; http://www.rense.com/general92/spins.htm

  • El Pollo de Oro

    The recession that started in 2007 “ended” in September 2008, when The Banana Republic of America (the Third World house of horrors that used to be the United States) went into a full-fledged depression. Times were tough before the crash of September 2008, but September 2008 was when the patient went into cardiac arrest. Since then, the BRA government has resorted to bailouts, stimulus, etc. to keep the patient alive, but the patient is still incredibly sick and is still on life support—and the so-called “economic recovery” of 2011 is all smoke and mirrors. For millions of formerly middle class Americans, there is no “economic recovery”—only misery, suffering, poverty and hardship. The real unemployment rate is not the government’s bogus figure of 9%; it is 20% or higher because people who have been unemployed long enough simply fall off the government’s radar. And the government’s smoke and mirrors game doesn’t erase the fact that as nasty as this depression has been, it’s going to get a whole lot worse.

    Gerald Celente predicts that this country is entering The Greatest Depression, meaning a depression that will be even worse than the Great Depression of the 1930s. This depression hasn’t gotten quite THAT bad yet, but we’re getting there slowly but surely. And when all is said and done, there will be no denying that the BRA is a Third World country in the true sense of the word. God help the rotting, decaying, collapsing empire that is The Banana Republic of America.

  • http://www.pathtoasia.com rhea

    We have been in the doldrums for almost 10 years already. Outside the banking industry, balance sheet compression is already happening (economy is shrinking).

    Can the Republic survive this onslaught of total Mis-Management,Corruption, and Greed in High Places? This is just the beginning, we have a long way to go…

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • http://www.growmap.com/what-caused-the-great-depression-is-now/ Gail Gardner

    There IS a solution within our control for the current physical times we live in: return to having self-supporting communities supporting small local businesses.

    There are also things people MUST do to prepare as I you have no doubt been sharing with them. I have shared this post and scheduled many more Tweets to increase how many will see it.

    I will also add links to your site from mine. There may be additional details your readers can benefit from throughout my site and especially in the post I linked to this comment.

    I would love to collaborate with you to get the word out more effectively to more people faster and am happy to assist anyone else willing to do the same.

    If it weren’t for His coming this meltdown would be overwhelming. Fortunately, we CAN have peace in our hearts while chaos reigns all around and that allows us to do much until then.

  • http://www.moodysanalytics.com Moody’s Analytics

    Government mandates and spending often has a varying impact on taxpayers, as well as unintended consequences such as influencing unemployment and the housing market. Additional Consumer Credit Analysis and Moody’s Analytics commentary is available at:
    http://www.moodysanalytics.com/Products-and-Solutions/Economic-Consumer-Credit-Analytics/Economic-Research/Global-Macro-Dismal-Scientist.aspx

  • http://balancedbudgetvote.com/ BURTON ANDERS SVEINE

    The real and causal necessity of stopping the insane spending of government will literally close down many of the open and notorious doors forever. Smaller government means less dependence and smaller programs thereby stopping the nonessential spending. Let us educate the undereducated and get them off the dole.

    Reply

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  • Michael Mork

    Here we are, ~3 years later, stocks soaring as the money printing continues. Adjusted for inflation, the market has been stagnant since 2008. People continue to think that the government “creates” jobs. The longer the “fear” is artificially staid by an irresponsible, uninformed populace, the ever more overwhelming it will be for the majority with no safe notion of what is going on.

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