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Title: 19 Very Surprising Facts About The Messed Up State Of The U.S. Economy
Source: DC Clothesline
URL Source: http://www.dcclothesline.com/2014/1 ... acts-messed-state-u-s-economy/
Published: Oct 27, 2014
Author: Michael Snyder
Post Date: 2014-10-27 08:07:11 by IbJensen
Keywords: None
Views: 5353
Comments: 20

Barack Obama and the Federal Reserve are lying to you. The “economic recovery” that we all keep hearing about is mostly just a mirage. The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point. In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade. The response to that article was very strong. Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media. Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy. For those out there that still believe that we are doing “just fine”, here are 19 more facts about the messed up state of the U.S. economy…

#1 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#2 The number of part-time workers in America has increased by 54 percent since the last recession began in December 2007. Meanwhile, the number of full-time jobs has dropped by more than a million over that same time period.

#3 More than 7 million Americans that are currently working part-time jobs would actually like to have full-time jobs.

#4 The jobs gained during this “recovery” pay an average of 23 percent less than the jobs that were lost during the last recession.

#5 The number of unemployed workers that have completely given up looking for work is twice as high now as it was when the last recession began in December 2007.

#6 When the last recession began, about 17 percent of all unemployed workers had been out of work for six months or longer. Today, that number sits at just above 34 percent.

#7 Due to a lack of decent jobs, half of all college graduates are still relying on their parents financially when they are two years out of school.

#8 According to a new method of calculating poverty devised by the U.S. Census Bureau, the state of California currently has a poverty rate of 23.4 percent.

#9 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#10 In 2007, the average household in the top 5 percent had 16.5 times as much wealth as the average household overall. But now the average household in the top 5 percent has 24 times as much wealth as the average household overall.

#11 In an absolutely stunning development, the rate of small business ownership in the United States has plunged to an all-time low.

#12 Subprime loans now make up 31 percent of all auto loans in America. Didn’t that end up really badly when the housing industry tried the same thing?

#13 The average cost of producing a barrel of shale oil in the United States is approximately 85 dollars. Now that the price of oil is starting to slip under that number, the “shale boom” in America could turn into a bust very rapidly.

#14 On a purchasing power basis, China now actually has a larger economy than the United States does.

#15 It is hard to believe, but there are 49 million people that are dealing with food insecurity in America today.

#16 There are six banks in the United States that pretty much everyone agrees fit into the “too big to fail” category. Five of them have more than 40 trillion dollars of exposure to derivatives.

#17 The 113 top earning employees at the Federal Reserve headquarters in Washington D.C. make an average of $246,506 a year. It turns out that ruining the U.S. economy is a very lucrative profession.

#18 We are told that the federal deficit is under control, but the truth is that the U.S. national debt increased by more than a trillion dollars during fiscal year 2014.

#19 An astounding 40 million dollars has been spent just on vacations for Barack Obama and his family. Perhaps he figures that if we are going down as a nation anyway, he might as well enjoy the ride.

If our economy truly was “recovering”, there would be lots of good paying middle class jobs available.

But that is not the case at all.

I know so many people in their prime working years that spend day after day searching for a job. Most of them never seem to get anywhere. It isn’t because they don’t have anything to offer. It is just that the labor market is absolutely saturated with qualified job seekers.

For example, USA Today recently shared the story of 42-year-old Alex Gomez…

“I’ve had to seriously downgrade my living situation,” said Alex Gomez, a 42-year-old with a master’s degree in entrepreneurship. Gomez lost his last full-time job in 2009 and has been looking for work since a short-term contract position ended in 2012.

Gomez’s home was foreclosed on, so the Tampa resident lives with three roommates in a college neighborhood. He drained his 401(k) trying to save his house, and he has around $150,000 in student loans. His mother is tapping her 401(k) to pay his rent. Gomez subsists on that and about $200 a month in food stamps.

“I have been applying and looking for pretty much anything at this stage,” he said. Although he’s looking for work in engineering or data management, “I applied to a supermarket as a deli clerk because I used to be a deli clerk as a teenager,” he said. He was told he was overqualified and turned down.

Does Alex Gomez have gifts and abilities to share with our society?

Of course he does.

So why can’t he find a job?

It is because we have a broken economy.

We are in the midst of a long-term economic decline and the system simply does not work properly anymore.

And thanks to decades of very foolish decisions, this is only the start of our problems.

Things are only going to get worse from here.


FOR THE FIRST TIME IN OUR HISTORY MORE BUSINESSES ARE FAILING THAN ARE BEING CREATED !!!!!!!

Recovery?...... what a bunch of BS !!!! IT'S GETTING WORSE !!!!

But there's going to be more devastation by the O'BASTARD in the White House!!!

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#1. To: IbJensen (#0)

All concerning info. Especially the Mr. Gomez story for two reasons. First he can't find qualified work in his area. Second Mr. Gomez is not looking where his skills are needed. There are internet job pages galore in Texas looking for skills like Mr. Gomez. Then again Gomez may have personal commitments in Tampa and must find work there.

Gomez is probably facing some of what I saw out there when I was transitioning from the Army (retirement). 40 something with 20+ years leadership and managerial experience, companies want to hire you. But they can take a bit more risk and hire someone younger. They save money.

Anyway, my best advice to Mr.Gomez is to call his old college buddies. Because it's who know that gets you in the door. As is what happened with me. Old Army buddy was retired for 3 years, heard I was on the market and gave me a call. End of story.

I hope Mr. Gomez has done this.

But as many as received him, to them gave he power to become the sons of God, even to them that believe on his name (John 1:12)

redleghunter  posted on  2014-10-27   12:35:29 ET  Reply   Trace   Private Reply  


#2. To: IbJensen (#0)

FOR THE FIRST TIME IN OUR HISTORY MORE BUSINESSES ARE FAILING THAN ARE BEING CREATED !!!!!!!

Interesting - Please cite your source. I'd like to read more about this.

"we are tartets from evil doers!!!" [ and ] U looked up birfer on the dcitionary. It isn't a movie.

Jameson  posted on  2014-10-27   12:38:40 ET  Reply   Trace   Private Reply  


#3. To: IbJensen (#0)

"Things are only going to get worse from here."

Please share - What is your plan for turning the economy around?

"we are tartets from evil doers!!!" [ and ] U looked up birfer on the dcitionary. It isn't a movie.

Jameson  posted on  2014-10-27   13:52:48 ET  Reply   Trace   Private Reply  


#4. To: Jameson (#2)

Well in this decade it has been hard on small business owners. I have two Army buddies who decided to open up a small business locally near the military installation. They know what soldiers like and more so what their families like. They did the research and got a loan approved. By doing so they took on huge risk before their doors opened. One buddy is 7 years in a successful business. The other started almost two years ago.

The veteran 7 year business owner is faced with selling a profitable business because according to the bank, the statistics show 90% of small business oowners in his market fail before ten years. No matter how much he showed the bank a steady and increasing customer base, the innovations he was making to expand to other markets, the bank gave him two options. Sell or the bank would sell.

I don't know how other small businesses deal with this, but that is quite alarming.

But as many as received him, to them gave he power to become the sons of God, even to them that believe on his name (John 1:12)

redleghunter  posted on  2014-10-27   14:29:11 ET  Reply   Trace   Private Reply  


#5. To: Jameson (#3)

Please share - What is your plan for turning the economy around?

How about overthrowing the current corrupt central socialist government and replacing it with a benevolent despot?

IbJensen  posted on  2014-10-28   8:13:56 ET  Reply   Trace   Private Reply  


#6. To: Jameson (#2)

Interesting - Please cite your source. I'd like to read more about this.

Then look it up and read it for yourself. It could be a valuable self- education exercise for you.

(Or are you just trying to be a smart-ass?)

IbJensen  posted on  2014-10-28   8:15:13 ET  Reply   Trace   Private Reply  


#7. To: IbJensen (#6)

FOR THE FIRST TIME IN OUR HISTORY MORE BUSINESSES ARE FAILING THAN ARE BEING CREATED !!!!!!!

Not being a smart-ass, I simply wanted to explore further.

While, I'm quite capable of simple research, I thought (perhaps incorrectly) that since you cited the original article, you had some credible source for this claim.

"we are tartets from evil doers!!!" [ and ] U looked up birfer on the dcitionary. It isn't a movie.

Jameson  posted on  2014-10-28   8:21:36 ET  Reply   Trace   Private Reply  


#8. To: IbJensen (#5)

How about overthrowing the current corrupt central socialist government and replacing it with a benevolent despot?

Interesting.....

You're going to need an army ( a really big army ) and of course, a despot...

Good luck!

"we are tartets from evil doers!!!" [ and ] U looked up birfer on the dcitionary. It isn't a movie.

Jameson  posted on  2014-10-28   8:23:42 ET  Reply   Trace   Private Reply  


#9. To: redleghunter (#4)

Well in this decade it has been hard on small business owners.

Indeed.

Sounds like your friend needs a new bank....

"we are tartets from evil doers!!!" [ and ] U looked up birfer on the dcitionary. It isn't a movie.

Jameson  posted on  2014-10-28   8:26:33 ET  Reply   Trace   Private Reply  


#10. To: Jameson (#7)

http://muskegonpundit.blogspot.com/2014/05/brookings-more-businesses-dying- than.html

IbJensen  posted on  2014-10-28   15:28:43 ET  Reply   Trace   Private Reply  


#11. To: Jameson (#2)

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/05/05/u-s-businesses-are-being-destroyed-faster-than-theyre-being-created

From now on look it up yourself!

IbJensen  posted on  2014-11-16   18:57:03 ET  Reply   Trace   Private Reply  


#12. To: IbJensen (#11)

Didn't take you very long to catch on to his little game, good job!

“Political correctness is a doctrine, fostered by a delusional, illogical minority, and rapidly promoted by mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.”

CZ82  posted on  2014-11-17   18:03:05 ET  Reply   Trace   Private Reply  


#13. To: redleghunter (#1)

Gomez is probably facing some of what I saw out there when I was transitioning from the Army (retirement). 40 something with 20+ years leadership and managerial experience, companies want to hire you. But they can take a bit more risk and hire someone younger. They save money.

Sure, some companies may save money initially, but risk insolvency by staffing with noobs and employees of questionable competence and leadership qualities/quantities in the long run.

If I were running a company, I'd presume more than ever a track record of dependability, success, and leadership was more desirable than ever.

Liberator  posted on  2014-11-18   10:57:32 ET  Reply   Trace   Private Reply  


#14. To: Jameson, IbJensen (#3)

Please share - What is your plan for turning the economy around?

How about transitioning back into a national-capitalist based economy rather than globalist-socialist model?

How about NOT importing millions of illegal riff-raff from Third World Hell-Holes...and subsidizing them with Middle Class savings and jobs?

Q: Or are you onboard 0bola's "Fundamental transformation of Amerika" in which well qualified, well-education, hard-working citizens and small business owners are knee-capped, then exterminated like bugs by his sinister Scorched Earth Plan?

Liberator  posted on  2014-11-18   11:04:09 ET  Reply   Trace   Private Reply  


#15. To: IbJensen (#11)

From now on look it up yourself!

He's rather busy hanging out at Starbucks as part of his/her daily routine, sipping a cup of cappuccino at 11:00AM while poring over propaganda...er...I mean articles at HuffoPo and the Daily Worker.com.

Liberator  posted on  2014-11-18   11:06:58 ET  Reply   Trace   Private Reply  


#16. To: IbJensen, Jameson (#5) (Edited)

Jameson: "What is your plan for turning the economy around?"

How about overthrowing the current corrupt central socialist government and replacing it with a benevolent despot?

HUH??

Are you insinuating the current Despotic Regime is corrupt, unconstitutional, over-officious, and PURPOSELY cratering "America as we know it"??

(oh wait -- the problem HAS be diagnosed. Onto Jensen's Solution. Jameson's "solution" is to import more Third World Riff-Raff and more crippling regime regulations, institutional lying and corruption )

Liberator  posted on  2014-11-18   11:13:49 ET  Reply   Trace   Private Reply  


#17. To: IbJensen (#0)

#14 On a purchasing power basis, China now actually has a larger economy than the United States does.

#15 It is hard to believe, but there are 49 million people that are dealing with food insecurity in America today.

#16 There are six banks in the United States that pretty much everyone agrees fit into the “too big to fail” category. Five of them have more than 40 trillion dollars of exposure to derivatives.

#19 An astounding 40 million dollars has been spent just on vacations for Barack Obama and his family.

If our economy truly was “recovering”, there would be lots of good paying middle class jobs available. But that is not the case at all.

I think the above is all we need to know about THE truth about the US Economy (and future.)

Liberator  posted on  2014-11-18   11:36:10 ET  Reply   Trace   Private Reply  


#18. To: IbJensen (#0)

FOR THE FIRST TIME IN OUR HISTORY MORE BUSINESSES ARE FAILING THAN ARE BEING CREATED !!!!!!!

Recovery?...... what a bunch of BS !!!! IT'S GETTING WORSE !!!!

But...but...Not according to MSNBC, Jon Stewart, Der 0bola, MIT and Ivy League economists! Our economy is BOOMING, jobs are plentiful, and EVERYONE is getting FREE STUFF!! Every day is like Christmas morning out there!!

*snicker*

There's going to be more devastation by the O'BASTARD in the White House!!!

NO!! Not by this beloved American Patriot!! But...He promise America "A RAT in every pot!!"

Liberator  posted on  2014-11-18   11:42:20 ET  Reply   Trace   Private Reply  


#19. To: Liberator (#13)

Wow you dug this one up:)

Well it turns out the large business I work for requires drug testing before official hire. I started on Monday and joked to my buddy "what happens with CO employees, do they get a pass with pot? He laughed and told me the company drug policy is for all employees no matter the state.

No wonder given the programs.

So I have no hope of working with a good chunk of LPers:)

But as many as received him, to them gave he power to become the sons of God, even to them that believe on his name (John 1:12)

redleghunter  posted on  2014-11-19   0:26:47 ET  Reply   Trace   Private Reply  


#20. To: Liberator (#17)

#19 An astounding 40 million dollars has been spent just on vacations for Barack Obama and his family.

With all that is spent on maintaining the worst family is tallied the amount is equal to the budgets of many third world countries.

What am I talking about? We are a third world country.

IbJensen  posted on  2014-11-19   8:01:13 ET  Reply   Trace   Private Reply  


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