An Increasing Number Of Americans Are Living In Their Homes With The Water And The Power Turned Off

The U.S. economy is literally collapsing right in front of our eyes.  Millions of Americans have lost their jobs and their homes.  Others are trying to hang on any way that they can.  As more Americans than ever switch over to “survival mode”, some strange new phenomenons are occurring.  For example, an increasing number of Americans are now living in their homes with the electricity and water turned off.  That’s right – they are camping out in their own homes without any power and without any running water.  In the “richest nation on earth”, millions of Americans can no longer afford electricity and water.  Utility shut-offs have been rapidly increasing as more Americans than ever before find themselves simply unable to pay their debts.  So is this what the American Dream has come to?  Sitting in our homes with the water and power turned off? (Read More...)

An Unemployment Chart Almost Too Depressing To Look At

If you are currently unemployed, you might not want to look at the chart I am about to show you.  In fact, even those who have jobs are likely to get quite depressed after looking at it.  Why?  Well, because it shows that long-term unemployment in the United States continues to get much worse.  Millions of middle class Americans have been dumped out of their jobs over the past two or three years, and they can’t seem to find equivalent jobs no matter how hard they try.  Millions have given up on finding something that will pay about the same and have resorted to flipping burgers or greeting customers down at the local “big box” store.  Millions of others can’t seem to get hired anywhere.  The truth is that there are not nearly enough jobs for everyone anymore.  Today, there are about 6 unemployed Americans for every single job opening in the United States.  It is almost as if tens of millions of American workers have been forced into a very sick version of musical chairs where there are not nearly enough chairs for everyone.  Unfortunately, the losers in this game are likely to lose their homes, their dignity and any chance at achieving the American Dream.  The truth is that things are getting really bad out there.  According to one disturbing new survey, 28% of all U.S. households have at least one member that is looking for a full-time job.  That is not just a problem – that is a national crisis. (Read More...)

Why Are The American People Mad? Maybe It Is Because Millions Of Their Jobs Have Been Lost To Outsourcing And They Aren’t Coming Back

As you read this, there are tens of millions of people in China, India and dozens of third world nations who would love to do your job for one-tenth the pay.  They are willing to work 12 hours a day.  They don’t expect a benefits plan or a pension package.  They aren’t going to waste countless hours chatting on their cell phones or updating their Facebook profiles.  All they want is a chance.  And increasingly, the big global corporations that dominate the world economy are giving it to them.  It is called outsourcing, and if you don’t believe that it can happen to your job, you might want to think again.  It is not just Americans who are chasing after the American Dream these days.  We now live in a global economy with a global workforce and the rules of the game have fundamentally changed. (Read More...)

10 Reasons Why We Might Not See Anything Less Than A Trillion Dollar Deficit For Decades To Come

Do you know how enormous one trillion dollars is?  If you were alive when Christ was born, and on that day you started spending a million dollars every single day, you still would not have spent one trillion dollars by now.  If right this moment you went out and started spending one dollar every single second, it would take you over 31,000 years to spend one trillion dollars.  A trillion $1 bills, if they were taped end to end, would wrap around the globe more than 38 times.  That is how big one trillion dollars is.  But right now, if the U.S. government could actually reduce the federal budget deficit to one trillion dollars that would be a major victory.  In 2009, the U.S. government ran a budget deficit of more than 1.4 trillion dollars.  The U.S. government will run a budget deficit of more than 1.4 trillion dollars in 2010.  Not only that, the Obama administration is already admitting that the budget deficit will be over 1.4 trillion dollars again in 2011.  In fact, the truth of it is that we are looking at trillion dollars deficits for as far as the eye can see.  In the process we are piling up the biggest mountain of debt the world has ever seen.  What we are doing to future generations is unfathomable.  Servicing this monolithic debt is going to devastate the U.S. economy and is going to absolutely crush the American Dream for future generations of Americans.  But we can’t seem to help ourselves.  We just keep spending.  (Read More...)

BP Caught Exploiting Cheap Prison Labor To Clean Up The Oil Spill

BP has been caught red-handed using dirt cheap prison labor to clean up the oil spill along the coast of the Gulf of Mexico as thousands upon thousands of non-inmates beg for work.  So why would BP use prison labor when there are so many others who would gladly do the work?  Well, prison labor costs far, far less of course.  As bad as this is for BP’s public image, the truth is that we should not be too hard on them.  After all, exploiting cheap labor around the world has become an obsession for the big global corporations that dominate our economy.  To these gigantic global predators, the American Dream is not about providing good jobs so that middle class Americans can buy homes and send their kids to college.  No, to these behemoths the goal is to find the closest thing to slave labor that they can so that they can dramatically increase their profits. (Read More...)

As The U.S. Economy Implodes, Should We Ditch Our Debt Or Is Paying Off Our Debts The Morally Right Thing To Do?

As the U.S. economy implodes, a lot of American families are being faced with some incredibly heartbreaking choices.  Many of them piled up massive amounts of debt during the good times as they chased the American Dream, but now that hard times have arrived they find that they just can’t handle the huge mountain of debt that they have accumulated.  Other Americans are looking at the crumbling economy and are trying to prioritize where to spend their money.  They wonder whether they should pay off their debts or whether that money would be better spent on stocking up on necessities for the incredibly hard times that are ahead.  The truth is that this article is going to raise a lot of questions but not provide a lot of answers.  In the end, each person has to make their own choices.  In addition, some of the viewpoints in this article are going to be controversial to many of you.  It is okay if you disagree.  In fact, if you find something that you disagree with, please leave a comment.  This is a topic that hits home with a lot of Americans, and a lot of people have some incredibly strong opinions about paying off debt. (Read More...)

Money Crunch! How Can An Economy Built On Debt Function If Nobody Can Get Loans?

Over the past several decades, the U.S. economy has become increasingly reliant on debt.  The vast majority of people take out a mortgage when they purchase a home, the vast majority of people require a big loan in order to buy a vehicle, and the number of Americans who use credit cards to make purchases at retail stores has skyrocketed over the years.  It has gotten to the point where credit is the life blood of the U.S. economic system.  Unless your business is a convenience store or a fast food joint, being able to accept credit cards or arrange credit for your customers is absolutely crucial.  In fact, the economic boom that the United States has experienced over the last 30 years has been largely due to a rapidly expanding pool of credit.  Americans have gone deeper and deeper in debt with each passing year as they pursue the American Dream.  But now that so many lending institutions have substantially tightened their lending standards and now that so many Americans have such low credit scores, how is the U.S. economy going to function? (Read More...)

50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Most Americans know that the U.S. economy is in bad shape, but what most Americans don’t know is how truly desperate the financial situation of the United States really is.  The truth is that what we are experiencing is not simply a “downturn” or a “recession”.  What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen.  Our greed and our debt are literally eating our economy alive.  Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era.  We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world.  A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious. (Read More...)

Living The Dream: What Do You Own – Really?

If someone came up to you and asked you what you own, what would you say?  It may seem like an obvious question, but it is actually a lot more complicated than you might think.  We live in a very materialistic society.  In fact, a large percentage of Americans today define their lives by what they “own”, and a large percentage of Americans consider “living the American Dream” to be about accumulating a house, several cars and a massive pile of possessions.  But what does it mean to “own” something anyway?  Does it mean to have something in your possession?  Well, if that was the case then someone leasing a car for three years could be considered the owner.  But that obviously is not the case.  Does “owning” something mean that nobody can legally take that thing away from you?  Well, if that is the case then perhaps we all “own” a lot less than we think we do.  (Read More...)