The US economy is about to collapse; too few jobs, business activity slowing, household wealth falling, 55 trillion debt (unemployment rate, insurance)
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The following are signs that all point to the impending collapse....
#1 The unemployment rate in the U.S. has been above 8 percent for 40 months in a row, and 42 percent of all unemployed Americans have been out of work for at least half a year.
#2 35 percent of all unemployed workers have had to dip into retirement savings in order to make ends meet over the past year.
#3 Since 2008, the U.S. economy has lost 1.3 million jobs while at the same time 3.6 million more Americans have been added to Social Security's disability insurance program.
#5 An important measure of U.S. manufacturing activity has fallen to its lowest level since June 2009.
#9 The median net worth of U.S. households in 2007 was $126,400. By 2010, it had fallen to just $77,300.
#12 The city of Compton, California is evaluating whether or not it should declare bankruptcy. If it did, it would become the fourth California city to declare bankruptcy this year.
#13 The percentage of U.S. households that are spending more than half their incomes on housing is at an all-time high.
#14 For the first time in modern history, Canadian households are wealthier than American households are.
#18 According to one survey, 42 percent of all American workers are living paycheck to paycheck.
#19 A different survey found that 28 percent of all Americans have absolutely no emergency savings at all right now.
The following are signs that all point to the impending collapse....
#1 The unemployment rate in the U.S. has been above 8 percent for 40 months in a row, and 42 percent of all unemployed Americans have been out of work for at least half a year.
#2 35 percent of all unemployed workers have had to dip into retirement savings in order to make ends meet over the past year.
#3 Since 2008, the U.S. economy has lost 1.3 million jobs while at the same time 3.6 million more Americans have been added to Social Security's disability insurance program.
#5 An important measure of U.S. manufacturing activity has fallen to its lowest level since June 2009.
#9 The median net worth of U.S. households in 2007 was $126,400. By 2010, it had fallen to just $77,300.
#12 The city of Compton, California is evaluating whether or not it should declare bankruptcy. If it did, it would become the fourth California city to declare bankruptcy this year.
#13 The percentage of U.S. households that are spending more than half their incomes on housing is at an all-time high.
#14 For the first time in modern history, Canadian households are wealthier than American households are.
#18 According to one survey, 42 percent of all American workers are living paycheck to paycheck.
#19 A different survey found that 28 percent of all Americans have absolutely no emergency savings at all right now.
You should add Peak Oil to that list for a true depth of understanding. It was no coincidence that the summer 2008 oil spike jolted the economy downward.
Those are largely just symptoms of the economy and population growth colliding with nature's limits. Money is a conjured resource but people treat it as interchangeable with the physical matter that makes life possible. Big mistake.
Such is the cycle of growth and decline. We have become too greedy and complacent. If we put our collective minds to it and stop hyper-partisan bickering, many of our issues can be solved. But the powers at be don't want those problems, do they...
The one group protesting for issues that could actually solve these issues was demonized. We've seriously got to re-evaluate our economy and the financial institutions designed to protect our best interests. Not just the interests of the wealthy.
You should add Peak Oil to that list for a true depth of understanding. It was no coincidence that the summer 2008 oil spike jolted the economy downward.
Those are largely just symptoms of the economy and population growth colliding with nature's limits. Money is a conjured resource but people treat it as interchangeable with the physical matter that makes life possible. Big mistake.
we are nowhere near peak oil, the price of oil once accounting for inflation has not even had large increases yet. I think we need to at least see some increases in the price of oil before saying peak oil is anywhere close.....
The economy will collapse. It's only a question of when and how long we can keep all the balls in the air. It is inevitable.
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