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...)

Economic Austerity Measures: Bitter Financial Medicine For Nations That Have Been Living Beyond Their Means

Over the past several decades, most of the major industrialized nations have been borrowing and spending unprecedented amounts of money.  This has enabled them to greatly stimulate their economies, and has allowed hundreds of millions of people to live fabulous lifestyles.  But there is a problem when nations try to live beyond their means for decades.  A big problem.  The problem is called debt.  Right now the world is facing a sovereign debt crisis that threatens to throw the entire globe into a very, very deep recession.  In fact, Bank of England Governor Mervyn King recently called this the worst financial crisis in history.  While that might be a bit dramatic (at least at this point), the reality is that the situation in the financial world is becoming very, very serious.  You see, debts have to be paid back eventually.  All over the globe, national governments are trying to deal with debt and interest on debt that has piled up so dramatically that they don’t know what to do about it.  For example, the United States is in a complete mess.  The U.S. national debt is scheduled to soon surpass 13 trillion dollars.  To get an idea of how big that is, if you went out and spent one dollar every single second,  it would take you more than 31,000 years to spend one trillion dollars.  It would take you more than 403,000 years to spend 13 trillion dollars.  Are you starting to get the picture?  This gigantic debt that the U.S. government has accumulated is about to turn the American Dream into the American Nightmare.  It is literally impossible for the United States to ever pay the national debt off, and as it continues to explode it will increasingly become a crushing load that the U.S. economy can simply not support. (Read More...)

11 Points Of Comparison Between Life In The United States And Life Under Hitler From A Woman Who Has Experienced Both

Have you ever heard of Kitty Werthmann?  She was a child when Adolf Hitler took control of her beloved country of Austria and stripped away their freedoms, and she is now speaking out about the chillingly similar loss of freedoms that we are currently experiencing in the United States.  It is often said that “those who forget history are doomed to repeat it”.  So, perhaps we should listen very carefully to what Kitty Werthmann has to say.  She has been there.  She has lived through it.  The truth is that when you do sit down and compare what happened under the Nazi regime and what is happening in the United States today, the parallels are absolutely shocking.  The American Dream is not guaranteed for us or for our children.  Freedom must be guarded.  If not, it will be taken away.  In fact, our freedoms are already being stripped away at blinding speed, and once they are gone they are incredibly difficult to get back. (Read More...)

The Coming Collapse Of The U.S. Dollar

As the U.S. media trumpets the arrival of a great “economic recovery”, the vast majority of the American people are completely unaware that the entire U.S. financial system is caught in a hopeless death spiral.  The cold, hard reality is that any temporary “green shoots” that we are seeing in the economy are there not because our politicians have figured out a way to deal with the financial problems of the United States.  No, the “green shoots” are there because our politicians have flooded our economy with a whole bunch more debt.  Debt will stimulate an economy for a little while, but the truth is that any new debt just makes our long-term economic problems even worse.  But now we are caught in a never ending cycle of debt, and there is no hope that we will ever be able to pay if off.  Most Americans do not understand economics, but if they did, they would realize that the American Dream is literally being destroyed right in front of their eyes.  Not only have we squandered the vast amounts of wealth that our forefathers left us, we have also piled up the biggest mountain of debt in the history of the world.  We have created an economic nightmare from which there is no escape.  Our children and our grandchildren will be trapped in it for their entire lives.  What we have done to future generations of Americans is absolutely criminal. (Read More...)

Is The Gulf Of Mexico Oil Spill Going To Kill The American Dream For Millions Of Americans?

As BP works feverishly to contain the massive oil spill in the Gulf of Mexico, many are now coming to the realization that this will be the most economically painful environmental disaster in U.S. history.   The oil spill in the Gulf is already larger than the entire state of Florida, and it creeps closer to the Gulf Coast with each passing hour.  According to official estimates, approximately 5,000 barrels a day are leaking into the Gulf, but outside groups working with satellite-imagery claim that the leak is at least five times that amount.   In fact, John Amos, a geologist who heads an environmental group called SkyTruth estimates that the leak is actually 26,500 barrels a day.  As oil continues to pour into the Gulf at a frightening pace, large numbers of Americans who depend on the Gulf of Mexico for their economic survival are wondering what is going to happen next.  Is the Gulf of Mexico oil spill going to kill the American Dream for millions of Americans? (Read More...)

The Coming Economic Collapse Of Japan – And Why You Should Be Extremely Concerned About It

Most Americans pay very little attention to what is going on in the economies of other nations.  But they should.  The reality is that in today’s global economy, what is happening on the other side of the world can have a dramatic impact on the U.S. economy.  In particular, the ongoing implosion of Japan’s economy should greatly concern us all.  Japan is the 3rd biggest economy in the world and is one of America’s most important trading partners.  If Japan experiences a total economic collapse it will create a tsunami of financial panic around the globe.  In fact, it is likely that a default by the government of Japan would plunge the world into such an economic nightmare that the American Dream would quickly vanish for millions of American families.  So just how close is Japan to a financial collapse?  Well, Fitch Ratings says that Japan’s gross public debt has reached 201 percent of GDP and is likely to continue to pile up into very dangerous territory for the foreseeable future.  It is estimated that this gigantic mountain of debt amounts to 7.5 million yen for every person living in Japan.  Needless to say this is extremely troubling.  Japan has the highest level of public debt to GDP of any of the industrialized nations.  Japan is literally drowing in red ink.  Meanwhile, even with all of the massive government spending that has caused all of this debt, Japan’s economy still continues to implode at a frightening pace.  Japan’s discouraging battle with deflation dragged into its 13th straight month in March as prices continued to decline and the unemployment rate rose sharply.  In fact, the number of unemployed in Japan totalled 3.5 million in March.  This represented a 4.5 percent rise from the same period a year ago. (Read More...)

American Deadbeats

Is the current economic crisis creating a generation of American deadbeats?  Once upon a time in America, we were taught that no matter how much financial trouble we get in we pay our debts – no matter what.  But now that has fundamentally changed.  Today, record numbers of Americans are filing for bankruptcy and a new term had to be invented (“strategic defaults”) to describe the large number of people who are making “business decisions” to walk away from underwater mortgages.  Meanwhile, many of these same individuals who are walking away from their debts are spending big money on cruises, vacations and new cars – as if they were still entitled to all of the good things that come with living the American Dream.  Below you will read some incredibly disgusting examples of this.  It is as if a whole generation of Americans has decided that “financial responsibility” is a problem that they don’t care to be bothered with.  But what is it going to do to the U.S. financial system if we can no longer count on people to honor their debts? (Read More...)