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 For years, researchers such as Gerald Celente have been warning that the coming economic collapse is going to spark mob scenes and riots that are unprecedented in U.S. history. Many have scoffed at these predictions and have refused to believe that anything like that could ever happen in America. But if what happened on Wednesday near Atlanta is any indication, we could be on the verge of something really bad. 30,000 people turned out to pick up only 13,000 applications for government-subsidized housing. Some people had waited for over two days just to get their hands on an application. The "chaotic mob scene" that developed as the applications were being handed out left 62 people injured. It turns out that there aren't even any vacancies in government-subsidized housing at this time in that area. These people were going wild just to get an application to get on the waiting list for government-subsidized housing. Yes, this is what the American Dream has degenerated into - thousands of people rioting in an attempt to get on a waiting list for a government handout. (Read More.....)
 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.....)
 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.....)
 Never before in American history has so much wealth been concentrated in the hands of so few. Once upon a time, children throughout the United States were taught that America was the land of opportunity where anyone can make it if they work really hard. But today the system is designed so that wealth flows into the pockets of the rich as the rest of us struggle feverishly to stay above water. The once great middle class that did so much to define America as a nation is slowly being squeezed out of existence. For tens of millions of ordinary Americans, the American Dream is rapidly becoming the American Nightmare. The labor of blue collar workers was once the engine that built the United States into an economic powerhouse, but today many of those workers have been replaced by robots and computers, or their jobs have been shipped overseas by greedy corporate executives. Those who are in a position to exploit advances in technology and third world labor pools are becoming exceedingly wealthy, while the rest of us are left wondering why it seems as though we are working harder and harder for less and less. The sad truth is that the rich are getting richer and the poor are getting poorer. A very small percentage of Americans are sitting on massive piles of cash while an increasing number of Americans are having to rely on government handouts just to survive. So is this a good thing for America? (Read More.....)
 No group in America has been hit harder during the current recession than young adults. Millions of Americans are graduating from college with virtually no money, lots of debt and with very dim employment prospects. Those who don't go to college are even worse off. All their lives these young Americans were taught if they studied hard, got an education and worked within the system that good jobs and the American Dream would be waiting for them. But now millions of them are realizing that all of their studying and hard work is not providing them with the rewards that they always thought they would get. This is causing large numbers of young American adults to become depressed and disillusioned. In fact, record numbers of them are moving back in with their parents. But without decent jobs, what are they supposed to do? (Read More.....)
 Federal Reserve Governor Kevin Warsh told an audience on Friday that the U.S. economy is in the midst of a cyclical recovery and that there are "encouraging" signs of improvement in financial markets. Many other governmental and media talking heads have uttered similar pronouncements about a "recovery" which will put the U.S. economy back on track. But are we really experiencing a recovery? If so, then why are foreclosures still hitting record levels? Why is unemployment so high? Why are so many cities and states on the verge of bankruptcy? Why are so many average Americans hurting so much? The truth is that what we are experiencing now is a period of stabilization before the "second dip" of the double-dip recession so many economists have been talking about hits. What the U.S. economy is actually in the midst of is a complete and total structural failure. The American Dream is going to permanently die for millions of American families. Millions more are going to lose their jobs and millions more are going to lose their homes. This is what we get for piling up the biggest mountain of debt in the history of the world and outsourcing much of our manufacturing and industry to places like China and India. Now we are an aging, bloated dinosaur trying to survive on a service economy and the biggest debt bubble of all time. (Read More.....)
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