Statistics That Reveal The Horrifying Truth About The Collapse Of The U.S.
Posted by Admin | Posted in Economy | Most Americans still appear to be operating under the delusion that the "recession" will soon pass and that things will get back to "normal" very soon. Unfortunately, that is not anywhere close to the truth.
What we are now witnessing are the early stages of the complete and total breakdown of the U.S. economic system.
The U.S. government, state governments, local governments, businesses and American consumers have collectively piled up debt that is equivalent to approximately 360 percent of GDP.
At no point during the Great Depression
(or at any other time during our history) did we ever come close to such
a figure. We have piled up the biggest mountain of debt that the
world has ever seen, and now that gigantic debt bubble is beginning to
pop. As this house of cards comes crashing down, the economic pain
is going to become almost unimaginable.
Already, things are really, really,
really bad out there. Unemployment is at shockingly
high levels. Foreclosures and personal bankruptcies continue to
set new all-time records. Businesses are being shut down at a
staggering rate, more than 40 million Americans are on food stamps, and
the U.S. government continues to pile up debt at blinding speed.
There is no use sugar-coating it.
The U.S. economy is
The following are 40 bizarre statistics
that reveal the truth about the collapse of the U.S. economy....
1 - According to one shocking new
of U.S. households have at least one member that is looking for a
2 - A
recent Pew Research survey found that 55 percent of the U.S.
labor force has experienced either unemployment, a pay
decrease, a reduction in hours or an involuntary move to part-time work
since the recession began.
3 - There are 9.2
million Americans that are unemployed that are not receiving an
unemployment insurance check.
4 - In America today, the average time
needed to find a job has risen to
a record 35.2 weeks.
5 - According to one analysis, the
United States has
lost 10.5 million jobs since 2007.
6 - China's trade surplus (much of it
with the United States) climbed
140 percent in June compared to a year earlier.
7 - This is what American workers now
must compete against: in China a garment worker makes approximately
86 cents an hour and in Cambodia a garment worker makes
approximately 22 cents an hour.
8 - According
to a poll taken in 2009, 61 percent of Americans "always
or usually" live paycheck to paycheck. That was up
significantly from 49 percent in 2008 and 43 percent in 2007.
9 - According to a recent poll
conducted by Bloomberg, 71%
of Americans say that it still feels like the economy is in a
10 - Banks repossessed 269,962
U.S. homes during the second quarter of 2010, which was a
new all-time record.
11 - Banks repossessed an average of
4,000 South Florida properties a month in the first half of 2010, up
83 percent from the first half of 2009.
12 - According to RealtyTrac, a total of
million U.S. properties received foreclosure filings
during the first half of 2010.
13 - The Mortgage Bankers Association recently
announced that demand for loans to purchase U.S. homes has
sunk to a 13-year low.
14 - Only
the top 5 percent of U.S. households have earned enough additional
income to match the rise in housing costs since 1975.
15 - 1.41 million
Americans filed for personal bankruptcy in 2009 - a
32 percent increase over 2008.
16 - Back in 1950 each retiree's Social
Security benefit was paid for by 16 workers. Today, each
retiree's Social Security benefit is paid for by approximately 3.3
workers. By 2025 it is projected that
there will be approximately two workers for each retiree.
17 - According to a new poll, six of 10
non-retirees believe that Social Security won't
be able to pay them benefits when they stop working.
18 - 43
percent of Americans have less than $10,000 saved for retirement.
19 - According to one survey, 36 percent
of Americans say that they
don't contribute anything to retirement savings.
20 - According to one recent
survey, 24% of American workers say that they
have postponed their planned retirement age in the past
21 - The Conference Board's Consumer
Confidence Index declined
sharply to 52.9 in June. Most economists had expected
that the figure for June would be somewhere around 62.
22 - Retail sales in the
U.S. fell in June for
a second month in a row.
23 - Vacancies and lease
rates at U.S. shopping centers continued
to get worse during the second quarter of 2010.
24 - Consumer credit in the United
States has contracted during
15 of the past 16 months.
25 - During the first quarter of 2010,
the total number of loans that are at least three months
past due in the United States increased for
the 16th consecutive quarter.
26 - Things are now so
bad in California that in the region around the state capital, Sacramento,
there is now one
closed business for every six that are still open.
27 - The state of Illinois now ranks eighth
in the world in possible bond-holder default. The state
of California is ninth.
28 - More than 25 percent of Americans now
have a credit score below 599, which means that they are a very bad
29 - On Friday, U.S. regulators closed
down three banks in Florida, two in South Carolina and one in Michigan, bringing
to 96 the number of U.S. banks to be shut down so far in 2010.
30 - The FDIC's deposit insurance
fund now has
negative 20.7 billion dollars in it, which represents a slight
improvement from the end of 2009.
31 - The U.S. federal budget deficit
has topped $1 trillion with
three months still to go in the current budget year.
32 - According to a U.S. Treasury
Department report to Congress, the U.S. national debt will top $13.6
trillion this year and
climb to an estimated $19.6 trillion by 2015.
33 - The M3 money supply plunged at a
9.6 percent annual rate during the first quarter of 2010.
34 - According to a new poll of Americans
between the ages of 44 and 75, 61% said that running out money was
their biggest fear. The remaining 39% thought death was scarier.
35 - One
study found that as of 2007, the bottom 80 percent of American
households held about 7% of the liquid financial assets.
36 - The bottom 40 percent of all
income earners in the United States now collectively own
less than 1 percent of the nationís wealth.
37 - The number of Americans with
incomes below the official poverty line rose
by about 15% between 2000 and 2006, and by 2008 over
30 million U.S. workers were earning less than $10 per
38 - According to one recent
study, approximately 21 percent of all children in the United States are
living below the poverty line in 2010 - the highest rate in 20
39 - For the first time
in U.S. history, more
than 40 million Americans are on food stamps, and the U.S.
Department of Agriculture projects that number will go up to 43 million
Americans in 2011.
40 - A new Rasmussen Reports
national telephone survey has found that
just 23% of American voters nationwide believe the federal
government today has the consent of the governed.
For a very interesting activated debt clock that gives constant updates, see: http://www.usdebtclock.org/
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