Elk County Forum

General Category => Politics => Topic started by: Warph on March 11, 2013, 01:30:49 AM

Title: Doom and Gloom...
Post by: Warph on March 11, 2013, 01:30:49 AM
              (http://inlandpolitics.com/blog/wp-content/uploads/2010/02/gloom-doom.jpg)

The Economic Collapse Is Almost Here

by Mr. Doom and Mr. Gloom
March 3, 2013


               (http://theeconomiccollapseblog.com/wp-content/uploads/2013/03/12-Things-That-Just-Happened-That-Show-The-Next-Wave-Of-The-Economic-Collapse-Is-Almost-Here-300x192.jpg)


Are we running out of time?  For the last several years, we have been living in a false bubble of hope that has been fueled by massive amounts of debt and bailout money.  This illusion of economic stability has convinced most people that the great economic crisis of 2008 was just an "aberration" and that now things are back to normal.  Unfortunately, that is not the case at all.  The truth is that the financial crash of 2008 was just the first wave of our economic troubles.  We have not even come close to recovering from that wave, and the next wave of the economic collapse is rapidly approaching.  Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency.  As each wave of the crisis hits us, the solutions that our leaders will present to us will involve even more debt and even more money printing.  And each time, those "solutions" will only make our problems even worse.  Right now, events are unfolding in Europe and in the United States that are pushing us toward the next major crisis moment.  I sincerely hope that we have some more time before the next crisis overwhelms us, but as you will see, time is rapidly running out.

The following are 12 things that just happened that show the next wave of the economic collapse is almost here:

#1 According to TrimTab's CEO Charles Biderman, corporate insider purchases of stock have hit an all-time low, and the ratio of corporate insider selling to corporate insider buying has now reached an astounding 50 to 1:

While retail is being told to buy-buy-buy, Biderman exclaims that "insiders at U.S. companies have bought the least amount of shares in any one month," and that the ratio of insider selling to buying is now 50-to-1 - a monthly record.

#2 On Friday we learned that personal income in the United States experienced its largest one month decline in 20 years...

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That's the most dramatic decline since January 1993, according to the Commerce Department.#3 In a stunning move, Michigan Governor Rick Snyder says that he will appoint an emergency financial manager to take care of Detroit's financial affairs:

Snyder, 54, took a step he avoided a year ago, empowering an emergency financial manager who can sweep aside union contracts, sell municipal assets, restructure services and reorder finances. He announced the move yesterday at a public meeting in Detroit.
If this does not work, Detroit will almost certainly have to declare bankruptcy.  If that happens, it will be the largest municipal bankruptcy in U.S. history.


#4 On Friday it was announced that the unemployment rate in Italy had risen to 11.7 percent.  That was a huge jump from 11.3 percent the previous month, and Italy now has the highest unemployment rate that it has experienced in 21 years.

#5 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent.

#6 On Friday it was announced that the unemployment rate in the eurozone as a whole had just hit a brand new record high of 11.9 percent.

#7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent, and it is being projected that it will reach 30 percent by the end of the year.

#8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters filled the streets of Lisbon and other Portuguese cities to protest the austerity measures that are being imposed upon them.  It was reportedly the largest protest in the history of Portugal.

#10 According to Goldman Sachs, bank deposits declined all over Europe during the month of January.

#11 Over the weekend, the deputy governor of China's central bank declared that China is prepared for a "currency war":

A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.



#12 Italy is an economic basket case at this point, and the political gridlock in Italy is certainly not helping matters.  Former comedian Beppe Grillo's party could potentially tip the balance of power one way or the other in Italy, and over the weekend he made some comments that are really shaking things up over in Europe.  

For one thing, he is suggesting that Italy should hold a referendum on the euro:

"I am a strong advocate of Europe. I am in favor of an online referendum on the euro," Beppe Grillo told Bild am Sonntag.

Such a vote would not be legally binding in Italy, where referendums can only be used to repeal laws or parts of laws, but would carry political weight. Grillo has said in the past that membership of the euro should be up to the Italian people.


In addition, Grillo is also suggesting that Italy's debt has gotten so large that renegotiation is the only option:

In an interview with a German magazine published on Saturday, Mr Grillo said that “if conditions do not change” Italy “will want” to leave the euro and return to its former national currency.

The 64-year-old comic-turned-political activist also said Italy needs to renegotiate its €2 trillion debt.

At 127 per cent of gross domestic product (GDP), it is the highest in the euro zone after Greece.
“Right now we are being crushed, not by the euro, but by our debt. When the interest payments reach €100 billion a year, we’re dead. There’s no alternative,” he told Focus, a weekly news magazine.

He said Italy was in such dire economic straits that “in six months, we will no longer be able to pay pensions and the wages of public employees.”


And of course government debt has taken center stage in the United States as well.

The sequester cuts have now gone into effect, and they will definitely have an effect on the U.S. economy.  Of course that effect will not be nearly as dramatic as many Democrats are suggesting, but without a doubt those cuts will cause the U.S. economy to slow down a bit.

And of course the U.S. economy has already been showing plenty of signs of slowing down lately.  If you doubt this, please see my previous article entitled "Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money".

So what comes next?

Well, everyone should keep watching Europe very closely, and it will also be important to keep an eye on Wall Street.  There are a whole bunch of indications that the stock market is at or near a peak.  For example, just check out what one prominent stock market analyst recently had to say:

"Every reliable technical tool is warning of major peaking action," said Walter Zimmerman, the senior technical analyst at United-ICAP. "This includes sentiment, momentum, classical chart patterns, and Elliott wave analysis.

"Most of the rally in the stock market since 2009 can be chalked up to the Federal Reserve’s attempt to create a ‘wealth effect’ through higher stock market prices. This only exacerbates the downside risk. Why? The stock market no is longer a lead indicator for the economy. It is instead reflecting  Fed manipulation. Pushing the stock market higher while the real economy languishes has resulted in another bubble.

"The next leg down will not be a partial correction of the advance since the 2009 lows. It will be another major financial crisis. The worst is yet to come
."


Sadly, most people will continue to deny that anything is wrong until it is far too late.

Many areas of Europe are already experiencing economic depression, and it is only a matter of time before the U.S. follows suit.

Time is running out, and I hope that you are getting ready.

So what do you think?

How much time do you believe that we have left before the next wave of the economic collapse strikes?



               (http://theeconomiccollapseblog.com/wp-content/uploads/2013/03/Jeff-Rowley-Big-Wave-Surfer-wipeout-Photo-Jaws-Peahi-by-Xvolution-Media-425x254.jpg)
Title: Re: Doom and Gloom...
Post by: Warph on March 11, 2013, 02:32:28 AM
               (http://1.bp.blogspot.com/_1C84-Z5vL9o/TFhLzJIC0AI/AAAAAAAAARc/NZ7EseVc19o/s1600/mr+doom+and+gloom.jpg)

The Chart That Proves That The Mainstream Media Is Lying To You About Unemployment

by Mr. Doom and Mr. Gloom
March 10, 2013


The mainstream media is absolutely giddy that the U.S. unemployment rate has hit a "four-year low" of 7.7 percent.  But is unemployment in the United States actually going down?  After all, you would think that it should be.  The Obuma administration has "borrowed" more than 6 trillion dollars from future generations of Americans, interest rates have been pushed to all-time lows, and the Federal Reserve has been wildly printing more money in a desperate attempt to "stimulate" the economy.  So have those efforts been successful?  Well, according to the mainstream media, the U.S. unemployment rate is falling steadily.  Headlines all over the nation boldly declared that "236,000 jobs" were added to the economy in February, but what they didn't tell you was that the number of Americans "not in the labor force" rose by 296,000.  And that is how they are getting the unemployment rate to go down... by pretending that huge numbers of unemployed Americans don't want jobs.  Sadly, as you will see below, the truth is that the percentage of working age Americans that have a job is just 0.1% higher than it was exactly three years ago.  And we have not even come close to getting back to where we were before the last economic crisis.  For example, more than 146 million Americans were employed back in 2007.  But today, only 142.2 million Americans have a job even though our population has grown steadily since then.  So where in the world is this "economic recovery" that they keep talking about?

At this point, the "unemployment rate" has become so meaningless that it really isn't even worth paying much attention to.  If you really want to know what the employment picture looks like in the United States, you need to look at the employment-population ratio.

Many economists consider the employment-population ratio to be far superior to other measurements of employment...


A chart of the employment-population ratio in the United States over the past several years is posted below:
(http://theeconomiccollapseblog.com/wp-content/uploads/2013/03/Employment-Population-Ratio-2013.png)

As you can see, the percentage of Americans with a job fell from about 63 percent to below 59 percent during the last economic crisis.  Since that time, it has not risen back above 59 percent.  This is the first time in the post-World War II era that we have not seen the employment rate bounce back following a recession.  At this point, the employment-population ratio has been below 59 percent for 42 months in a row.

Yes, we should be thankful that things have stabilized, but as you can see there has been no recovery.  The percentage of Americans with a job is essentially exactly where it was three years ago.  Despite the trillions of dollars that the U.S. government has borrowed, and despite the reckless money printing that the Federal Reserve has been doing, the employment situation in the U.S. has not turned around.

Data for the employment-population ratio from the beginning of 2008 is posted below:
2008-01-01 62.9
2008-02-01 62.8
2008-03-01 62.7
2008-04-01 62.7
2008-05-01 62.5
2008-06-01 62.4
2008-07-01 62.2
2008-08-01 62.0
2008-09-01 61.9
2008-10-01 61.7
2008-11-01 61.4
2008-12-01 61.0
2009-01-01 60.6
2009-02-01 60.3
2009-03-01 59.9
2009-04-01 59.8
2009-05-01 59.6
2009-06-01 59.4
2009-07-01 59.3
2009-08-01 59.1
2009-09-01 58.7
2009-10-01 58.5
2009-11-01 58.6
2009-12-01 58.3
2010-01-01 58.5
2010-02-01 58.5
2010-03-01 58.5
2010-04-01 58.7
2010-05-01 58.6
2010-06-01 58.5
2010-07-01 58.5
2010-08-01 58.5
2010-09-01 58.5
2010-10-01 58.3
2010-11-01 58.2
2010-12-01 58.3
2011-01-01 58.3
2011-02-01 58.4
2011-03-01 58.4
2011-04-01 58.4
2011-05-01 58.4
2011-06-01 58.2
2011-07-01 58.2
2011-08-01 58.3
2011-09-01 58.4
2011-10-01 58.4
2011-11-01 58.5
2011-12-01 58.6
2012-01-01 58.5
2012-02-01 58.6
2012-03-01 58.5
2012-04-01 58.5
2012-05-01 58.6
2012-06-01 58.6
2012-07-01 58.5
2012-08-01 58.4
2012-09-01 58.7
2012-10-01 58.7
2012-11-01 58.7
2012-12-01 58.6
2013-01-01 58.6
2013-02-01 58.6

So is there anyone out there that still wants to insist that the employment picture in the United States is getting significantly better?

Anyone that wants to claim that "unemployment is going down" should at least wait until the unemployment-population ratio gets back up to 59 percent.  Otherwise they just look foolish.

Yes, the Dow is at an all-time high right now.  But a bubble is always the biggest right before it bursts.

The more astute Americans understand that the Dow has been pumped up with all of the funny money that the Fed has been printing.  And these  Americans understand that the stock market really does not accurately reflect the health of the U.S. economy as a whole.

Just consider these numbers:e

-The number of homeless people sleeping in homeless shelters in New York City has increased by 19 percent over the past year.

-The number of Americans on food stamps has risen from 32 million to 47 million while Barack Obama has been in the White House.

-According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income" at this point.

-Median household income in the United States has fallen for four consecutive years.


No, the truth is that everything is most definitely not fine.

If everything is fine, then why did the Federal Reserve inject another 100 billion dollars into foreign banks during the last full week of February?

The U.S. government and the Federal Reserve are desperately trying to prop up the entire global economy.  Unfortunately, the global financial system has been built on a foundation of sand and the tide is coming in.

Back in 2008, a derivatives crisis was one of the primary causes of the worst financial panic since the Great Depression.

So did we learn our lesson?

No, the boys on Wall Street are back at it again as a recent article by Jim Armitage described...

Historically, stock markets, being driven by humans, have tended to have a similar length memory of catastrophes, before making the same dumb mistakes again.

But it hasn't even been five years since derivatives (on that occasion based on daft mortgages) blew up the world, and yet these exotic creatures have already returned. With a vengeance.

Research from Thomson Reuters declared that banks were creating more derivatives known as asset-backed securities than at any time since before the Lehman Brothers crash. Of those, 22 percent were made up of – and forgive me the alphabet soup here – CDOs and CLOs. The very type of derivatives that exploded last time. At this stage last year, only 6 percent fell into those categories.

In other words, banks are creating more of the riskiest types of the riskiest products.
At some point, we will have another derivatives crisis even worse than the last one.

When that happens, financial markets all over the globe will crash, economic activity will grind to a standstill and unemployment will go skyrocketing once again.

But as you saw above, we have never even come close to recovering from the last crisis.

So you can believe the mind-numbing propaganda that the mainstream media is trying to feed you if you want.  Unfortunately, the reality of the matter is that we have not recovered from the last major economic crisis, and another one is rapidly approaching.

I hope that you are getting ready.

Title: Re: Doom and Gloom...
Post by: Warph on March 11, 2013, 03:11:57 AM
                     [youtube]http://www.youtube.com/watch?v=rPFGWVKXxm0&feature=player_detailpage[/youtube]

                        Signs That America Is In Decline

(http://theeconomiccollapseblog.com/wp-content/uploads/2012/11/34-Signs-That-America-Is-In-Decline.jpg)

by Mr. Doom and Mr. Gloom
November 29th, 2012


The United States is clearly in an advanced state of decline.  Many people around the world (and even inside America) rejoice at this, but not me.  I mourn for the country that I was born in and that I still love.  Yes, the United States has never been perfect, but the Republic that our Founding Fathers started truly has been a light to the rest of the world in a lot of ways over the centuries.  Unfortunately, our foundations are badly rotting and our nation is collapsing all around us.  Many Americans like to think that the United States is greater today than it has ever been before, but the truth is that America is like a patient that has stage 4 cancer that has spread to almost every area of the body.  Our nation is being destroyed in thousands of different ways, and more distressing news emerges with each passing day.  This article will mainly focus on the economic decline of America, but much could also be said about our social, political, moral and spiritual decline as well.  We are simply not the same country that we used to be.  Americans are proud, selfish, greedy, arrogant, ungrateful, treacherous and completely addicted to entertainment and pleasure.  Our country is literally falling apart all around us, but most Americans are so plugged into entertainment that they can't even be bothered to notice what is happening.  Most Americans seem to assume that we will always have endless prosperity just because of who we are, but unfortunately that simply is not true.  We inherited the greatest economic machine the world has ever seen and we have wrecked it, and now a very painful day of reckoning is approaching.  But most people will not understand until it is too late.

The following are signs that America is in decline:

#1 According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001.  That number dropped to 21.6 percent in 2011.  That is not just a decline - that is a freefall.  Just check out the chart in this article.

#2 According to The Economist, the United States was the best place in the world to be born into back in 1988.  Today, the United States is only tied for 16th place.

#3 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#4 According to the Wall Street Journal, of the 40 biggest publicly traded corporate spenders, half of them plan to reduce capital expenditures in coming months.

#5 More than three times as many new homes were sold in the United States in 2005 as will be sold in 2012.

#6 America once had the greatest manufacturing cities on the face of the earth.  Now many of our formerly great manufacturing cities have degenerated into festering hellholes.  For example, the city of Detroit is on the verge of financial collapse, and one state lawmaker is now saying that "dissolving Detroit" should be looked at as an option.

#7 In 2007, the unemployment rate for the 20 to 29 age bracket was about 6.5 percent.  Today, the unemployment rate for that same age group is about 13 percent.

#8 Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, less than 65 percent of all men in the United States have jobs.

#9 If you can believe it, approximately one out of every four American workers makes 10 dollars an hour or less.

#10 Sadly, 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

#11 Median household income in America has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

#12 The U.S. trade deficit with China during 2011 was 28 times larger than it was back in 1990.

#13 Incredibly, more than 56,000 manufacturing facilities in the United States have been shut down since 2001.  During 2010, manufacturing facilities were shutting down at the rate of 23 per day.  How can anyone say that "things are getting better" when our economic infrastructure is being absolutely gutted?

#14 Back in early 2005, the average price of a gallon of gasoline was less than 2 dollars a gallon.  During 2012, the average price of a gallon of gasoline has been $3.63.

#15 In 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  Today, only 55.1 percent are covered by employment-based health insurance.

#16 As I have written about previously, 61 percent of all Americans were "middle income" back in 1971 according to the Pew Research Center.  Today, only 51 percent of all Americans are "middle income".

#17 There are now 20.2 million Americans that spend more than half of their incomes on housing.  That represents a 46 percent increase from 2001.

#18 According to the U.S. Census Bureau, the poverty rate for children living in the United States is about 22 percent.

#19 Back in 1983, the bottom 95 percent of all income earners in the United States had 62 cents of debt for every dollar that they earned.  By 2007, that figure had soared to $1.48.

#20 Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

#21 Total credit card debt in the United States is now more than 8 times larger than it was just 30 years ago.

#22 The value of the U.S. dollar has declined by more than 96 percent since the Federal Reserve was first created.

#23 According to one survey, 29 percent of all Americans in the 25 to 34 year old age bracket are still living with their parents.

#24 Back in 1950, 78 percent of all households in the United States contained a married couple.  Today, that number has declined to 48 percent.

#25 According to the U.S. Census Bureau, 49 percent of all Americans live in a home that receives direct monetary benefits from the federal government.  Back in 1983, less than a third of all Americans lived in a home that received direct monetary benefits from the federal government.

#26 In 1980, government transfer payments accounted for just 11.7 percent of all income.  Today, government transfer payments account for more than 18 percent of all income.

#27 In November 2008, 30.8 million Americans were on food stamps.  Today, 47.1 million Americans are on food stamps.

#28 Right now, one out of every four American children is on food stamps.

#29 As I wrote about the other day, according to one calculation the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."

#30 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid, and things are about to get a whole lot worse.  It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

#31 In 2001, the U.S. national debt was less than 6 trillion dollars.  Today, it is over 16 trillion dollars and it is increasing by more than 100 million dollars every single hour.

#32 The U.S. national debt is now more than 23 times larger than it was when Jimmy Carter became president.

#33 According to a PBS report from earlier this year, U.S. households that make $13,000 or less per year spend 9 percent of their incomes on lottery tickets.  Could that possibly be accurate?  Are people really that foolish?

#34 As the U.S. economy has declined, the American people have been downing more antidepressants and other prescription drugs than ever before.  In fact, the American people spent 60 billion dollars more on prescription drugs in 2010 than they did in 2005.

So what are our "leaders" doing about all of this?

Not much.

They just continue to insist that everything is "just fine".

Sadly, the truth is that they live in a world that is very different from most of the rest of us.

Barack Obuma is getting ready to take a 20 day vacation to Hawaii.

When was the last time you got to take a 20 day vacation?

And most of our "leaders" have no idea what it is like to struggle from month to month on a paycheck.

Overall, more than half of the members of Congress are millionaires.  We are led by wealthy men who are serving the interests of other wealthy men.

But the problem with our system is not limited to the president and the members of Congress.  The truth is that the political system in America has become a colossal beast that just continues to grow no matter who is in power.  The political establishment of both parties is totally dependent on this beast, and they will continue to feed it and serve it because it has been very good to them.  The following is from an outstanding article by Steve McCann:

http://www.americanthinker.com/2012/11/the_governing_class_and_the_decline_of_america.html#ixzz2DdCUjlsK


The Republican and Democratic political establishments are made up of the following:  

1) many current and nearly all retired national office holders whose livelihood and narcissistic demands depends upon fealty to Party and access to government largesse;

2) the majority of the media elite, including pundits, editors, writers and television news personalities based in Washington and New York whose proximity to power and access is vital to their continued standard of living; 

3) academia, numerous think-tanks, so-called non-government organizations, and lobbyists who fasten onto those in the administration and Congress for employment, grants, favorable legislation and ego-gratification; 

4) the reliable deep pocket political contributors and political consultants whose future is irrevocably tied to the political machinery of the Party; and

5) the crony capitalists, i.e. leaders of the corporate and financial community as well as unions whose entities are dependent on or subject to government oversight and/or benevolence .
Do you think that there is any chance that this insidious system will be uprooted any time soon?


Of course not.

We will continue on the same path that we are on right now and America will continue to decline.

Many will rejoice as America falls, but I will not.

I will mourn for a mighty Republic that has fallen and for a dream that has been lost.



(http://theeconomiccollapseblog.com/wp-content/uploads/2012/11/Lowering-The-American-Flag.jpg)
Title: Re: Doom and Gloom...
Post by: Warph on March 12, 2013, 04:58:25 AM
(http://www.veteranstoday.com/wp-content/uploads/2010/08/housing-market.jpg)

New study confirms economy was destroyed
by Democrat policies

by Mr. Doom & Mr. Gloom

(http://cdn2-b.examiner.com/sites/default/files/styles/image_content_width/hash/79/9b/1356082197_8467_3.jpg?itok=bSIJWK7j)

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act--enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let's review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

 
Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown:

[youtube]http://www.youtube.com/watch?v=cMnSp4qEXNM&feature=player_embedded#![/youtube]

John McCain also co-sponsored urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed anyone who suggested reforms were necessary...to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.

-No one was making bad loans to unqualified people until Democrats came along and threatened to drag banks into court and have them fined and branded as racists if they didn't go along with the left's Affirmative Action lending policies...all while federally insuring their losses. Even the New York Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.

-Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left's favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').

-Even The New York Times admitted that there is "little evidence" of any connection between the "Republican" deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Obama excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy with zero accountability.

(http://www.prepareandprosper.net/wp-content/uploads/2011/08/Housing-Crash.gif)


(...)

The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn't afford them -- just like you would expect of socialists. See our web site for more.
-- http://www.ProudToBeCanadian.ca
http://www.proudtobecanadian.ca/index...
-- http://www.proudtobecanadian.ca/blog/...


Title: Re: Doom and Gloom...
Post by: Warph on March 27, 2013, 12:38:25 PM
        "The Sleeping Giant"


[youtube]http://www.youtube.com/watch?v=I8llCpBzjoI[/youtube]
Title: Re: Doom and Gloom...
Post by: Warph on March 28, 2013, 07:16:47 PM
(http://www.drawuntilitsfunny.com/files/comics/2011-05-10-im-broke.gif)


The Global Elite Are Very Clearly Telling Us That They
Plan To Raid Our Bank Accounts

(http://bestdemotivationalposters.com/wp-content/uploads/2012/06/im-so-broke-wallet-poor-best-demotivational-posters.jpg)

March 27, 2013

Don't be surprised when the global elite confiscate money from your bank account one day. 
They are already very clearly telling you that they are going to do it.
 

Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup - an organization of eurozone finance ministers that was instrumental in putting together the Cyprus "deal" - and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.  What that means is that when the chips are down, they are going to come after YOUR money.  So why should anyone put a large amount of money in the bank at this point?  Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails.  And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk?  What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system.  In order for any financial system to work, people must have faith in the safety and security of that financial system.  People put their money in the bank because they think that it will be safe there.  If you take away that feeling of safety, you jeopardize the entire system.

So exactly how did the big banks in Cyprus get into so much trouble?  Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing.  They have been gambling with our money.  In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.

But what happened in Cyprus is just the tip of the iceberg.  All over the planet major financial institutions are being incredibly reckless with client money.  They are leveraged to the hilt and they have transformed the global financial system into a gigantic casino.

If they win on their bets, they become fabulously wealthy.

If they lose on their bets, they know that the politicians won't let the banks fail.  They know that they will get bailed out one way or another.

And who pays?

We do.

Either our tax dollars are used to fund a government-sponsored bailout, or as we have just witnessed in Cyprus, money is directly confiscated from our bank accounts.

And then the game begins again.

People need to understand that the precedent that has just been set in Cyprus is a game changer.

The next time that a major bank fails in Greece or Italy or Spain (or in the United States for that matter), the precedent that has been set in Cyprus will be looked to as a "template" for how to handle the situation.

Eurogroup president Jeroen Dijsselbloem has even publicly admitted that what just happened in Cyprus will serve as a model for future bank bailouts.  Just check out what he said a few days ago...

"If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'. If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders"
Dijsselbloem insists that this will cause people "to think about the risks" before they put their money somewhere...

"It will force all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realise that it may also hurt them. The risks might come towards them."
Well, as depositors in Cyprus just found out, there is a risk that you could lose 40 percent (and that is the best case scenario) of your money if you put it in the bank.

Why would anyone want to take that risk - especially in a nation that is already experiencing very serious financial troubles such as Greece, Italy or Spain?

As if that was not enough, Dijsselbloem later went in front of the Dutch parliament and publicly defended a wealth tax like the one that was just imposed in Cyprus.

Dijsselbloem is being widely criticized, and rightfully so.  But at least he is being more honest that many other politicians.  His predecessor as the head of the Eurogroup, Jean-Claude Juncker, once said that "you have to lie" to the people in order to keep the financial markets calm...

Mr. Dijsselbloem's style contrasts with that of his predecessor, Jean-Claude Juncker, Luxembourg's prime minister, who spoke in a low mumble at news conferences and was expert at sidestepping questions. Mr. Juncker once even advocated lying as a way to prevent financial markets from panicking—as they did Monday after Mr. Dijsselbloem's comments.

"When it becomes serious, you have to lie," Mr. Juncker said in April 2011. "If you have pre-indicated possible decisions, you are feeding speculation in the financial markets."
But Dijsselbloem is certainly not the only one among the global elite that is admitting what is coming next.  Just check out what Joerg Kraemer, the chief economist at Commerzbank, recently told Handelsblatt about what he believes should be done in Italy...

"A tax rate of 15 percent on financial assets would probably be enough to push the Italian government debt to below the critical level of 100 percent of gross domestic product"
Yikes!

And as I wrote about the other day, the Finance Minister of New Zealand is proposing that bank account holders in his nation should be required to "take a haircut" if any banks in his nation fail.

They are telling us what they plan to do.

They are telling us that they plan to raid all of our bank accounts when the global financial system fails.

And calling it a "haircut" does not change the fact of what it really is.  The truth is that when they confiscate money from our bank accounts it is outright theft.  Just check out what the Daily Mail had to say about the situation in Cyprus...

People who rob old ladies in the street, or hold up security vans, are branded as thieves. Yet when Germany presides over a heist of billions of pounds from private savers’ Cyprus bank accounts, to ‘save the euro’ for the hundredth time, this is claimed as high statesmanship.

It is nothing of the sort. The deal to secure a €10 billion German bailout of the bankrupt Mediterranean island is one of the nastiest and most immoral political acts of modern times.

It has struck fear into the hearts of hundreds of millions of European citizens, because it establishes a dire precedent.
And when you cause paralysis in the banking system, a once thriving economy can freeze up almost overnight.  The following is an excerpt from a report from someone that is actually living over in Cyprus...

As it stands now, nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed. If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise. If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. TONIGHT there are demonstrations at most street corners and especially at the parliament building (just 2 miles from me).

Many are thinking that the ECB and EU are allowing Cyprus to fail as a test ground for new financial standards.

Just wanted all you guys to know the real story of whats going on here. Prayers are appreciated (although this is very interesting to watch) many of my local friends have lots of money in the banks.
Would similar things happen in the United States if there was a major banking crisis someday?

That is something to think about.

In any event, the problems in the rest of Europe continue to get even worse...

-The stock market in Greece is crashing.  It is down by more than 10 percent over the past two days.

-The stock markets in Italy and Spain are experiencing huge declines as well.  Banking stocks are being hit particularly hard.

-The Bank of Spain says that the Spanish economy will sink even deeper into recession this year.

-The latest numbers from the Spanish government show that Spain's debt problem is rapidly getting worse...

"The central government’s interest bill surged 15 percent last year to 26 billion euros, while tax receipts slumped 21 percent. The cost of servicing debt represented 30 percent of the taxes collected at the end of December, up from 20 percent a year earlier."

-The euro took quite a tumble on Thursday and the euro will likely continue to decline steadily in the weeks and months to come.


For a very long time I have been warning that the next major wave of the economic collapse is going to originate in Europe.

Hopefully people are starting to see what I am talking about.

As this point, the major banks in Europe are leveraged about 26 to 1, and that is close to the kind of leverage that Lehman Brothers had when it finally collapsed.  As a whole, European banks are drowning in debt, they are taking risks that are almost incomprehensible and now faith in those banks has been greatly undermined by what has happened in Cyprus.

Anyone that cannot see a crisis coming in Europe simply does not understand the financial world.  A moment of reckoning is rapidly approaching for Europe.  The following is from a recent article by Graham Summers...

At the end of the day, the reason Europe hasn’t been fixed is because CAPITAL SIMPLY ISN’T THERE. Europe and its alleged backstops are out of money. This includes Germany, the ECB and the mega-bailout funds such as the ESM.

Germany has already committed to bailouts that equal 5% of its GDP. The single largest transfer payment ever made by one country to another was the Marshall Plan in which the US transferred an amount equal to 5% of its GDP. Germany WILL NOT exceed this. So don’t count on more money from Germany.

The ECB is chock full of garbage debts which have been pledged as collateral for loans. If anyone of significance defaults in Europe, the ECB is insolvent. Sure it can print more money, but once the BIG collateral call hits, money printing is useless because the amount of money the ECB would have to print would implode the system.

And then of course there are the mega bailout funds such as the ESM. The only problem here is that Spain and Italy make up 30% of the ESM's supposed “funding.” That’s right, nearly one third of the mega-bailout fund’s capital will come from countries that are bankrupt themselves.

What could go wrong?

Right now, close to half of all money that is on deposit at banks in Europe is uninsured.  As people move that uninsured money out of the banks, the amount of money that will be required to "fix the banks" will go up even higher.

It would be wise to try to avoid the big banks at this point - especially those with very large exposure to derivatives.  Any financial institution that uses customer money to make reckless bets is not to be trusted.

If you can find a small local bank or credit union to do business with you will probably be better off.

And don't think that this kind of thing can never happen in the United States.


One of the key players that was pushing the idea of a "wealth tax" in Cyprus was the IMF.  And everyone knows that the IMF is heavily dominated by the United States.  In fact, the headquarters of the IMF is located right in the heart of Washington D.C. not too far from the White House.  When I worked in D.C. I would walk by the IMF headquarters quite a bit.

So if the United States thought that confiscating money from bank accounts was a great idea in Cyprus, why wouldn't they implement such a thing here under similar circumstances?

The global elite are telling us what they plan to do, and the game has dramatically changed.


Move your money while you still can.

Unfortunately, it is already too late for the people of Cyprus.


(http://trollable.com/wp-content/uploads/2012/09/Im-so-broke.jpg)
Title: Re: Doom and Gloom...
Post by: Warph on March 30, 2013, 04:34:24 AM
Welfare Stinks

Now, don’t tell me that welfare recipients aren’t innovative!
No reason to stand on your feet waiting to get your check.
Just put your flip-flops next in line and go back and sit on your butt and play games on your free iPhone.

(http://commonsensepostdotcom.files.wordpress.com/2013/03/welfare-stinks.jpg?w=640)

[youtube]http://www.youtube.com/watch?v=SzWkqfQ17Eo&feature=player_embedded[/youtube]
Title: Re: Doom and Gloom...
Post by: Warph on April 01, 2013, 10:21:52 PM
(http://www.dedleg.com/wordpress/wp-content/uploads/2011/02/doom_and_gloom.jpg)

Why Is The World Economy Doomed?

The Global Financial Pyramid Scheme By The Numbers

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/03/Why-Is-The-World-Economy-Doomed-The-Global-Financial-Pyramid-Scheme-By-The-Numbers.png)

Why is the global economy in so much trouble?  How can so many people be so absolutely certain that the world financial system is going to crash?  Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail.  In the United States today, there is approximately 56 trillion dollars of total debt in our financial system, but there is only about 9 trillion dollars in our bank accounts.  So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off all of our debts.  Overall, there is about 190 trillion dollars of total debt on the planet.  But global GDP is only about 70 trillion dollars.  And the total notional value of all derivatives around the globe is somewhere between 600 trillion and 1500 trillion dollars.  So we have a gigantic problem on our hands.  The global financial system is a very shaky house of cards that has been constructed on a foundation of debt, leverage and incredibly risky derivatives.  We are living in the greatest financial bubble in world history, and it isn't going to take much to topple the entire thing.  And when it falls, it is going to be the largest financial disaster in the history of the planet.

The global financial system is more interconnected today than ever before, and a crisis at one major bank or in one area of the world can spread at lightning speed.  As I wrote about yesterday, the entire European banking system is leveraged 26 to 1 at this point.  A decline in asset values of just 4 percent would totally wipe out the equity of many of those banks, and once a financial panic begins we could potentially see major financial institutions start to go down like dominoes.

We got a taste of what that is like back in 2008, (which I lost $40,000 on the stock market... Warph)  and it is inevitable that it will happen again.

(http://tobinelliott.files.wordpress.com/2012/05/wad.jpg?w=261&h=232)

Anyone that would tell you that the current global financial system is sustainable does not know what they are talking about.  Just look at the numbers that I have posted below:

The following is the global financial pyramid scheme by the numbers...

-$9,283,000,000,000 - The total amount of all bank deposits in the United States.  The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to "guarantee" those deposits.  In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.
http://www.zerohedge.com/news/2013-03-19/us-deposits-perspective-25-billion-insurance-9283-billion-deposits-297514-billion-de

-$10,012,800,000,000 - The total amount of mortgage debt in the United States.  As you can see, you could take every penny out of every bank account in America and it still would not cover it.
http://www.zerohedge.com/news/2013-03-19/us-deposits-perspective-25-billion-insurance-9283-billion-deposits-297514-billion-de

-$10,409,500,000,000 - The M2 money supply in the United States.  This is probably the most commonly used measure of the total amount of money in the U.S. economy.
http://research.stlouisfed.org/fred2/series/M2

-$15,094,000,000,000 - U.S. GDP.  It is a measure of all economic activity in the United States for a single year.
http://www.tradingeconomics.com/

-$16,749,269,587,407.53 - The size of the U.S. national debt.  It has grown by more than 10 trillion dollars over the past ten years.
http://www.treasurydirect.gov/NP/BPDLogin?application=np

-$32,000,000,000,000 - The total amount of money that the global elite have stashed in offshore banks (that we know about).
"

-$50,230,844,000,000 - The total amount of government debt in the world.
"

-$56,280,790,000,000 - The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system.
"

-$61,000,000,000,000 - The combined total assets of the 50 largest banks in the world.
http://www.gfmag.com/tools/best-banks/11382-worlds-50-biggest-banks-2011.html#axzz2O7JASwjs

-$70,000,000,000,000 - The approximate size of total world GDP.
http://en.wikipedia.org/wiki/World_economy

-$190,000,000,000,000 - The approximate size of the total amount of debt in the entire world.  It has nearly doubled in size over the past decade.
(http://www.mybudget360.com/wp-content/uploads/2012/04/total-global-debt.jpg)

-$212,525,587,000,000 - According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States.  But those banks only have total assets of about 8.9 trillion dollars combined.  In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.

-$600,000,000,000,000 to $1,500,000,000,000,000 - The estimates of the total notional value of all global derivatives generally fall within this range.  At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.

Are you starting to get the picture?

Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts.

(http://tobinelliott.files.wordpress.com/2012/05/wad.jpg?w=261&h=232)

What we witnessed back in 2008 was just a little "hiccup" in the system.  It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized.

Next time it won't be so easy.

The next wave of the economic collapse is quickly approaching.  A full-blown economic depression has already started in southern Europe.  Unemployment is at record highs and economic activity is contracting rapidly.

The major offshore banking centers in Cyprus are on the verge of collapsing.  It was just announced that they will now be closed until Tuesday, but nobody really knows for sure when they will be allowed to reopen.  And there is already talk that when they do reopen that there will be strict limits on how much money people can take out.

And now the IMF is warning that the three biggest banks in Slovenia are failing and that a billion euros will be needed to bail them out.

The dominoes are starting to tumble, and the United States won't be immune.  In fact, the greatest financial problems that the United States has ever seen are on the horizon.

But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want.

The mainstream media will provide you with all of the positive economic news that you could possibly want.  They are giddy about the fact that the Dow keeps hitting all-time highs and they would have us all believe that we are in the midst of a robust economic recovery.  You can listen to them if you want to.

But when you are tempted to believe that everything is going to be "okay" somehow, just go back and look at the numbers there were posted above one more time.

There is no way that the global financial pyramid scheme is going to be able to hold up for too much longer.  At some point it is going to totally collapse.  When that happens, will you be ready?

(http://tobinelliott.files.wordpress.com/2012/05/wad.jpg?w=261&h=232)
Title: Re: Doom and Gloom...
Post by: Warph on April 07, 2013, 03:33:24 AM
Despite the stream of “happy happy, joy joy” news released by the White House and the mainstream media about the tiny increase of jobs in America, the full, big-picture truth is far from cheery.

The U.S. Dept. of Labor has just released some disturbing news that Demo-rats would likely prefer Americans didn’t know.  More than 9 million people have dropped out of the labor force since the Clown Prince of Screw-ups, Barack Obuma’s first inauguration in 2009, and labor participation in the United States is now at the lowest it has been since Jimmy "Pea-nut" Carter was kicking back in the Oval Office.

Welcome back, Carter... Warph


(http://www.frugal-cafe.com/public_html/frugal-blog/frugal-cafe-blogzone/wp-content/uploads/2011/09/obama-mirror-jimmy-carter.jpg)


Not the News the White House Touts: Unemployment drops a bit, but…

Labor Dept Reports Record 89,967,000 Americans Not in Labor Force,
Another 663,000 Dropped Out in March


by Mr. Doom & Mr. Gloom
April 06, 2013


(http://www.frugal-cafe.com/public_html/frugal-blog/frugal-cafe-blogzone/wp-content/uploads/2013/04/dept-of-labor-logo.jpg)

Reported by CNS News, Record 89,967,000 Not in Labor Force; Another 663,000 Drop Out In March:

A record 89,967,000 Americans were not in the labor force in March, according to the Bureau of Labor Statistics. That is an increase of 663,000 from the 89,304,000 Americans who were not in the labor force in February.
http://www.bls.gov/webapps/legacy/cpsatab1.htm

Since President Barack Obama was first inaugurated in January 2009, 9,460,000 people have dropped out of the labor force.

The BLS counts a person as not in the civilian labor force if they are at least 16 years old, are not in the military or an institution such as a prison, mental hospital or nursing home, and have not actively looked for a job in the last four weeks. The department counts a person as in the civilian labor force if they are at least 16, are not in the military or an institution such as a prison, mental hospital or nursing home, and either do have a job or have actively looked for one in the last four weeks.

The number of people that BLS considers “in the labor force” affects the unemployment rate–which is the percentage of people “in the labor force” who are unable to find a job during the month. If someone previously considered “not in the labor force” were to go out and search for a job and not find one, they would have to be counted as in the labor force for that period–and thus would increase the unemployment rate.

To the degree that Americans choose to simply drop out of the labor force rather than search unsuccessful for a job they decrease the unemployment rate.




From Tyler Durden at Zero Hedge:

People Not In Labor Force Soar By 663,000 To 90 Million...
Labor Force Participation Rate At 1979 Levels

Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work . The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work.  This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers.  And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3%... the lowest since 1979!  But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving."



People not in labor force:
(http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/03/Labor%20Force_2.jpg)


Labor participation rate:
(http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/03/Labor%20Force%20Rate.jpg)
Title: Re: Doom and Gloom...
Post by: Ross on April 07, 2013, 07:28:28 AM
Warph thanks for putting this information all together on one page.
This is a very well done job of condensing a lot of information.

I have been trying to educate my nieces and nephews and great nieces and nephews, for the last couple of years that the day is coming!

Some of them are highly educate and make very good livings so I can understand why they would choose to ignore the warning signs.
But I am hoping this page you have so diligently put together will serve as a genuine wake up call.

Excellent job Warph. Thanks again.
Title: Re: Doom and Gloom...
Post by: Diane Amberg on April 07, 2013, 09:27:35 AM
So you are that crazy uncle every family has? ;D ;D ;D ;D ;D. Wasn't it the parents job to do that kind of "education?"
  How do you know they are ignoring anything? Perhaps they are just being polite to their uncle. Is there a white horse and some armor involved...or perhaps a windmill? Gloom and doom...not like we haven't seen these times  before.We made it through and I'm sure will so again...eventually.
Title: Re: Doom and Gloom...
Post by: Ross on April 07, 2013, 10:03:36 AM

So you are that crazy uncle every family has? ;D ;D ;D ;D ;D. Wasn't it the parents job to do that kind of "education?"

You just gotta dig them fingernails in don’t you! If you find me so despicable why read my posts.

Yes, I am that crazy uncle and great uncle and great-great uncle that cares about his family.

Really it is not the parent’s job to do that kind of education, when these are not children I am talking about. Perhaps if teachers in school had actually taught economics, finance and world affairs and the importance of world current affairs these people would have an inkling. 


  How do you know they are ignoring anything?

I don’t remember saying that they are ignoring me?
Do you know something about my kin that I don’t know?
Please share.

Perhaps they are just being polite to their uncle.

Sure they are, they know I love each and everyone of them, and I know they love me as well.

Is there a white horse and some armor involved...or perhaps a windmill?

If there is a white horse involved you sure ain’t riding it.

Gloom and doom...not like we haven't seen these times  before.We made it through and I'm sure will so again...eventually.

You are about as BRILLIANT as they come.

When have we made it through what is most likely about to happen.
You must be a lot older than I am, because I have never lived through such a thing,
I have never lived through the great depression.

But with all your Brilliance, I suppose there is no need to be prepared for the worst while praying for the best.

One of the greatest child development things I learned in the Boy scouts was “Be Prepared”

But any way my post was simply to Thank Warph for the post, nothing more.

Which means it was not meant to set you off with your fingernails digging and clawing.

I hope you can enjoy the rest of your Sunday. I know I am. I’m heading out to work in my garden. We have an absolutely beautiful spring day going on.
Title: Re: Doom and Gloom...
Post by: Diane Amberg on April 07, 2013, 04:06:24 PM
Leave it to you to assume I meant your relatives were ignoring YOU. If that was what I meant I would have said so. Why do you think they are ignoring the economic news, etc. that we all read as adults unless you personally teach them? You said they aren't children. Shouldn't they be living their lives and standing on their own two feet by now? ( It's bird. it's a... It's super Ross..... ;D)
 Exactly when would you like all those subjects taught? Jr. High? When did you take them? Guess what... some things are not taught in depth until college. Ya don't go, ya don't get.
I don't think you are despicable.  I just think you're a bit of a self proclaimed superman today. Or was that Mighty Mouse?
  In fact perhaps you should teach those kids' parents as well since you don't think it's still their job to "teach"their adult children any longer, especially since you say you're just a dumb hick and they don't have a clue. The blind leading the blind? Ouch!   ;D ;D ;D ;D
 Haven't you yet figured out I'm just poking you for fun?  Lighten up. Ya started this yourself.
By the way ,how could you have missed all the problems in the early 70s, including gasoline rationing, and the recession in the early 80s?. It just about brought down silicon valley. There were more of course. It's always an up and down ride.The one now is nothing new, just worse than most.
 People who plan and save always come out alright. Even at 10% unemployment ,90% are working and people on pensions and/or SS have that to spend to help the economy.
Title: Re: Doom and Gloom...
Post by: Ross on April 07, 2013, 04:51:53 PM
Leave it to you to assume I meant your relatives were ignoring YOU. If that was what I meant I would have said so. Why do you think they are ignoring the economic news, etc. that we all read as adults unless you personally teach them? You said they aren't children. Shouldn't they be living their lives and standing on their own two feet by now? ( It's bird. it's a... It's super Ross..... ;D)
 Exactly when would you like all those subjects taught? Jr. High? When did you take them? Guess what... some things are not taught in depth until college. Ya don't go, ya don't get.
I don't think you are despicable.  I just think you're a bit of a self proclaimed superman today. Or was that Mighty Mouse?
  In fact perhaps you should teach those kids' parents as well since you don't think it's still their job to "teach"their adult children any longer, especially since you say you're just a dumb hick and they don't have a clue. The blind leading the blind? Ouch!   ;D ;D ;D ;D
 Haven't you yet figured out I'm just poking you for fun?  Lighten up. Ya started this yourself.
By the way ,how could you have missed all the problems in the early 70s, including gasoline rationing, and the recession in the early 80s?. It just about brought down silicon valley. There were more of course. It's always an up and down ride.The one now is nothing new, just worse than most.
 People who plan and save always come out alright. Even at 10% unemployment ,90% are working and people on pensions and/or SS have that to spend to help the economy.

I was simply Thanking Warph for a great post.
Now I'd like to invite you for a long walk on a short pier, but I don't have a pier!
Do you have one. So you comprehend, I'm speaking of a short pier.

Title: Re: Doom and Gloom...
Post by: Warph on April 08, 2013, 05:45:09 AM
Now, now, guys... be nice  :laugh:

Create in me a clean heart, O God,
And renew a right spirit within me.
Cast me not away from Thy presence;
And take not Thy Holy Spirit from me.
Restore unto me the joy of Thy salvation;
And uphold me with Thy free Spirit.

...Psalm 51:10



Thanks, Ross.  Something I should have added that I forgot... sorry:

(http://www.theobamafile.com/_Image0/EconomicIndicators.jpg)



The state of America's economy today will impact the prosperity of future generations tomorrow. We created this data card because we want every American to have a simple and easy way to track and discuss the key economic indicators that show the true state of our nation's economy. The items featured in this card affect every American personally, whether we know it or not.  
 
Sources:

1.  http://www.bls.gov (monthly)

2.  http://www.bls.gov (monthly)

3.  http://data.bls.gov/timeseries/LNS11300000 (monthly)

4.  http://www.eia.gov/petroleum/gasdiesel/ (weekly)

5.  http://www.usdebtclock.org/ (real time)

6.  http://www.usdebtclock.org/ (real time)

7.  http://www.census.gov/ (annual)

8.  http://www.realtor.org/research-and-statistics (monthly), http://ycharts.com/indicators/sales_price_of_existing_homes

9.   http://www.fns.usda.gov/fns/ (annual)

10.  http://ehbs.kff.org/pdf/8226.pdf (annual), http://ehbs.kff.org/?page=charts&id=1&sn=6&p=1

11.  http://www.miseryindex.us/ (monthly)

 
Title: Re: Doom and Gloom...
Post by: jarhead on April 08, 2013, 08:29:31 AM
You win that bet Ross. No way did I think she could go this long with out the name calling and shit stirring. Coffee is on me---see ya in the Smoke Shack.
Title: Re: Doom and Gloom...
Post by: Diane Amberg on April 08, 2013, 12:02:04 PM
Ross, you missed my point entirely and yes, I know what you were doing in the" thank you," but the rest seemed so self serving and  silly,I coudn't help but laugh at it. I assume you'll be joining the bunker brigade soon since the end of our world is right around the corner?
 Sorry you couldn't see the humor, but I'll apoligize if you'd feel better. As far as the plank ,sorry, the only ones available now are full of trout fishing folks since the season just opened. Leaving again since the "club' is still touchy and grouchy. Too bad. :angel:
Title: Re: Doom and Gloom...
Post by: Ross on April 08, 2013, 01:23:24 PM
You win that bet Ross. No way did I think she could go this long with out the name calling and shit stirring. Coffee is on me---see ya in the Smoke Shack.


Love ya Jarhead!
Now watch her spout something about queer, gay or some such bull. She don't quit.
I must assume she must be bored with her lifestyle.

The liver was simply delicious.

No, that's not code. LOL
Title: Re: Doom and Gloom...
Post by: Warph on April 14, 2013, 07:11:33 PM
(http://inlandpolitics.com/blog/wp-content/uploads/2010/02/gloom-doom.jpg)

Income Tax In America

by Mr. Doom & Mr. Gloom




100 years old and still killing us.  America was much better off before the income tax.  Did you know that the greatest period of economic growth in American history was during a time when there was absolutely no federal income tax?  Between the end of the Civil War and 1913, there was an explosion of economic activity in the United States unlike anything ever seen before or since.  Unfortunately, a federal income tax was instituted in 1913, and this year it turned 100 years old. 

But there was no fanfare, was there?  There was no celebration because the federal income tax is universally hated.  Sadly, most Americans just assume that there is no other option to an income tax.  Most Americans just assume that it has always been with us and that it will always be with us.  This year, the American people will shell out approximately $4.22 trillion in state and federal income taxes.  That amount is equivalent to approximately 29.4 percent of all income that Americans will bring in this year, and that does not even take into account the dozens of other taxes that Americans pay each year.  At this point, the U.S. tax code is about 13 miles long, and those that are honest and pay their taxes every year are being absolutely shredded by this system. 

But wouldn't the federal government go broke if we didn't have a federal income tax?  No, actually the truth is that the federal government did just fine before there was an income tax.  In fact, the U.S. national debt has gotten more than 5000 times larger since the federal income tax and the Federal Reserve were created by Congress back in 1913.  As I have written about previously, the Federal Reserve system was actually designed to trap the United States in a debt spiral from which it could never possibly escape, and the federal income tax was needed to greatly expand the size of the federal government and to soak the American people of the funds necessary to service that debt.  But it doesn't have to be this way.  America was once much better off before the income tax and the Federal Reserve were created, and we could easily go to such a system again.


What we desperately need to do is to teach the American people a little history lesson.  The truth is that the greatest period of economic growth in U.S. history was between the Civil War and 1913 when there was no federal income tax at all.  The following is from Wikipedia...

The Gilded Age saw the greatest period of economic growth in American history. After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization. From 1869 to 1879, the US economy grew at a rate of 6.8% for real GDP and 4.5% for real GDP per capita, despite the panic of 1873.  The economy repeated this period of growth in the 1880s, in which the wealth of the nation grew at an annual rate of 3.8%, while the GDP was also doubled.

Sadly, most Americans cannot even conceive of an economy like that.  Most Americans cannot even imagine having a nation without a massively bloated federal government and without an unelected central bank centrally planning our financial system.

But you know what?

It worked.  In fact, it worked fantastically well.


The period between the Civil War and 1913 propelled the United States to greatness.  Just check out all of the good things that Wikipedia says happened for the U.S. economy during those years...

The rapid economic development following the Civil War laid the groundwork for the modern U.S. industrial economy. By 1890, the USA leaped ahead of Britain for first place in manufacturing output.

An explosion of new discoveries and inventions took place, a process called the "Second Industrial Revolution." Railroads greatly expanded the mileage and built stronger tracks and bridges that handled heavier cars and locomotives, carrying far more goods and people at lower rates. Refrigeration railroad cars came into use. The telephone, phonograph, typewriter and electric light were invented. By the dawn of the 20th century, cars had begun to replace horse-drawn carriages.

Parallel to these achievements was the development of the nation's industrial infrastructure. Coal was found in abundance in the Appalachian Mountains from Pennsylvania south to Kentucky. Oil was discovered in western Pennsylvania; it was mainly used for lubricants and for kerosene for lamps. Large iron ore mines opened in the Lake Superior region of the upper Midwest. Steel mills thrived in places where these coal and iron ore could be brought together to produce steel. Large copper and silver mines opened, followed by lead mines and cement factories.

In 1913 Henry Ford introduced the assembly line, a step in the process that became known as mass-production.



But if we didn't have an income tax, how did we fund the government?  Well, we mostly did it with tariffs and excise taxes.  The following is from a recent article by Thomas R. Eddlem...
http://www.thenewamerican.com/culture/history/item/14268-before-the-income-tax


Prior to ratification of the 16th (income tax) Amendment in February 1913, the federal government managed its few constitutional responsibilities without an income tax, except during the Civil War period. During peacetime, it did so largely — or even entirely — on import taxes called “tariffs.” Congress could afford to run the federal government on tariffs alone because federal responsibilities did not include welfare programs, agricultural subsidies, or social insurance programs like Social Security or Medicare. After the Civil War, tariff revenues sometimes suffered under a protectionist policy ushered in by the Republican Party that supplemented federal income via excises on alcohol, tobacco, and inheritances. But before the war, the need for tariff revenue to finance the federal government generally kept the tariff at reasonable levels. During wartime throughout early American history, the Founding Fathers were able to raise additional revenue employing a different method of direct taxation authorized by the U.S. Constitution prior to the 16th Amendment. These alternative taxing methods gave the young American nation embarrassing peacetime budget surpluses that several times came close to paying off the national debt.


So why didn't we stick with that system?

Well, early in the 20th century the "progressives" and the social planners started to take control in Washington.

And one of the things that "progressives" and social planners love is an income tax.  In fact, the second plank of the Communist Manifesto is a "heavy progressive or graduated income tax".


Of course they promised us that income tax rates would always remain low.  And at first they were quite low.  The following is from an article by Adam Young... http://mises.org/daily/1597

The presidential election of 1912 was contested between three advocates of an income tax. The winner, Woodrow Wilson, after the ratification of the Sixteenth Amendment, called a special session of Congress in April 1913, which proceeded to pass an income tax of 1% on incomes above $3,000 and applied surcharges between 2% and 7% on income from $20,000 to $500,000.

But once the "progressives" and the social planners get their feet in the door, they always want more.

And we have seen how things have worked out.  Today, the American people are being taxed into oblivion.
 
There are dozens of other taxes that the American people pay each year in addition to federal and state income taxes...

#1 Building Permit Taxes

#2 Capital Gains Taxes

#3 Cigarette Taxes

#4 Court Fines (indirect taxes)

#5 Dog License Taxes

#6 Drivers License Fees (another form of taxation)

#7 Federal Unemployment Taxes

#8 Fishing License Taxes

#9 Food License Taxes

#10 Gasoline Taxes

#11 Gift Taxes

#12 Hunting License Taxes

#13 Inheritance Taxes

#14 Inventory Taxes

#15 IRS Interest Charges (tax on top of tax)

#16 IRS Penalties (tax on top of tax)

#17 Liquor Taxes

#18 Luxury Taxes

#19 Marriage License Taxes

#20 Medicare Taxes

#21 Medicare Tax Surcharge On High Earning Americans Under Obamacare

#22 Obamacare Individual Mandate Excise Tax (if you don't buy "qualifying" health insurance under Obamacare you will have to pay an additional tax)

#23 Obamacare Surtax On Investment Income (a new 3.8% surtax on investment income that goes into effect next year)

#24 Property Taxes

#25 Recreational Vehicle Taxes

#26 Toll Booth Taxes

#27 Sales Taxes

#28 Self-Employment Taxes

#29 School Taxes

#30 Septic Permit Taxes

#31 Service Charge Taxes

#32 Social Security Taxes

#33 State Unemployment Taxes (SUTA)

#34 Tanning Tax (a new Obamacare tax on tanning services)

#35 Telephone Federal Excise Taxes

#36 Telephone Federal Universal Service Fee Taxes

#37 Telephone Minimum Usage Surcharge Taxes

#38 Telephone State And Local Taxes

#39 Tire Taxes

#40 Tolls (another form of taxation)

#41 Traffic Fines (indirect taxation)

#42 Utility Taxes

#43 Vehicle Registration Taxes

#44 Workers Compensation Taxes

Yet even with all of these taxes, our local governments, our state governments and our federal government are all absolutely drowning in debt.


(http://theeconomiccollapseblog.com/wp-content/uploads/2013/04/America-Is-Broke.jpg)


There is a number of reasons why our federal income tax system has become a complete and utter abomination that can never be fixed...

1 - The U.S. tax code is now 3.8 million words long.  If you took all of William Shakespeare's works and collected them together, the entire collection would only be about 900,000 words long.

2 - According to the National Taxpayers Union, U.S. taxpayers spend more than 7.6 billion hours complying with federal tax requirements.  Imagine what our society would look like if all that time was spent on more economically profitable activities.

3 - 75 years ago, the instructions for Form 1040 were two pages long.  Today, they are 189 pages long.

4 - There have been 4,428 changes to the tax code over the last decade.  It is incredibly costly to change tax software, tax manuals and tax instruction booklets for all of those changes.

5 - According to the National Taxpayers Union, the IRS currently has 1,999 different publications, forms, and instruction sheets that you can download from the IRS website.

6 - Our tax system has become so complicated that it is almost impossible to file your taxes correctly.  For example, back in 1998 Money Magazine had 46 different tax professionals complete a tax return for a hypothetical household.  All 46 of them came up with a different result.

7 - In 2009, PC World had five of the most popular tax preparation software websites prepare a tax return for a hypothetical household.  All five of them came up with a different result.

8 - The IRS spends $2.45 for every $100 that it collects in taxes.

9 - According to The Tax Foundation, the average American has to work until April 17th just to pay federal, state, and local taxes.  Back in 1900, "Tax Freedom Day" came on January 22nd.

10 - When the U.S. government first implemented a personal income tax back in 1913, the vast majority of the population paid a rate of just 1 percent, and the highest marginal tax rate was just 7 percent.

11 - Residents of New Jersey pay $1.64 in taxes for every $1.00 of federal spending that they get back.

12 - The United States is the only nation on the planet that tries to tax citizens on what they earn in foreign countries.

13 - According to Forbes, the 400 highest earning Americans pay an average federal income tax rate of just 18 percent.

14 - Warren Buffett had an effective tax rate of just 17.4 percent for 2010.

15 - The top 20 percent of all income earners in the United States pay approximately 86 percent of all federal income taxes.

16 - Sadly, as Bill Whittle has shown, you could take every single penny that every American earns above $250,000 and it would only fund about 38 percent of the federal budget.

17 - The United States has the highest corporate tax rate in the world (35 percent).  In Ireland, the corporate tax rate is only 12.5 percent.  This is causing thousands of corporations to move operations out of the United States and into other countries.

18 - Some tax havens are doing a booming business in setting up sham headquarters for U.S. corporations.  For example, the city of Zug, Switzerland only has a population of 26,000 people but it is the headquarters for 30,000 companies.

19 - In 1950, corporate taxes accounted for about 30 percent of all federal revenue.  In 2012, corporate taxes will account for less than 7 percent of all federal revenue.

The wealthy have become absolute masters at avoiding taxes, and the poor are not able to pay much.

So who always gets squeezed?

The middle class does.

No matter what our politicians promise us, the hammer is always brought down on the middle class.


And now, according to The Huffington Post, the IRS says that it can even read our old emails without a warrant to make sure that we are paying all of the taxes that we should be...
http://www.huffingtonpost.com/2013/04/10/irs-email-warrant_n_3055988.html

The IRS apparently interprets that authority very broadly, the documents show: as long as you've stored your email in a cloud service like Google Mail, and as long as those emails haven't been deleted after a few months, the agency thinks it doesn't need a warrant to read them.

The idea of IRS agents poking through your email account might sound at the very least creepy, and maybe unconstitutional. But the IRS does have a legal leg to stand on: the Electronic Communications Privacy Act of 1986 allows government agencies to in many cases obtain emails older than 180 days without a warrant.

That's why an internal 2009 IRS document claimed that "the government may obtain the contents of electronic communication that has been in storage for more than 180 days” without a warrant.



It should be noted that the IRS is claiming that it does not use emails "to target" specific taxpayers, but notice that they are not promising not to use old emails against taxpayers once they are officially being audited or investigated...

"Contrary to some suggestions, the IRS does not use emails to target taxpayers. Any suggestion to the contrary is wrong."


In any event, the truth is that we have one of the most complicated and one of the most intrusive tax systems in the history of the world.

Don't the American people deserve better?

What do you think?

Should America go back to a system where there is no income tax and no Federal Reserve?  I think so!

....Warph


Title: Re: Doom and Gloom...
Post by: Warph on April 16, 2013, 01:50:55 PM
(http://asianconservatives.com/wp-content/uploads/2012/05/ObamaCare.jpg)

Let's talk "ObumaCare."

One of the many reasons conservatives dislike government overreach is because government is so often wrong about so much...
Right?  And what’s worse, regardless of the magnitude of the government’s failures, "We the People" are stuck with the consequences of those policies... in most cases, FOREVER.

This is not a new phenomenon. Hell, this has been going on for decades.  Upon its establishment in 1965 the House Ways and Means Committee estimated that the cost of Medicare would rise to $12 billion by 1990.  Unfortunately for American taxpayers that prediction was off by a power of nine, coming in at $110 billion.  And things haven’t gotten any better since then.  By 2011 Medicare costs ballooned to over $550 billion, having grown by 8.3% in a year when inflation was 3.2%.
http://online.wsj.com/article/SB10001424052748703746604574461610985243066.html

But of course Medicare is but one example.  Medicaid had a similar experience.  The same House committee estimated that Medicaid’s first-year costs would be $238 million.  Instead it came in more like $1 billion... a tad more than they thought... (typical government way of screwing the taxpayer).  It was projected to cost $9 billion by 1990 and, surprise, it came in at $67 billion.  By 2011 the federal share of the program tipped the scales at $299 billion!  That old song, "South of the Border, Down Mexico Way," comes to mind.
http://online.wsj.com/article/SB10001424052748703746604574461610985243066.html

Tellingly, before government set its claws into healthcare it tracked very close to overall inflation. Since 1965 however, healthcare costs have increased by 2.3 times the rate of general inflation. To put that in perspective, inflation would have made something that cost $100 dollars in 1965 cost $718 dollars in 2012. That’s a pretty big jump, but if that $100 dollar item had increased at the rate of healthcare inflation since government got involved it would cost 2.3 times as much, or $1,651. At the same time, healthcare costs went from 5.1% of GDP in 1960 to approximately 18% today.
http://online.wsj.com/article/SB10001424052748703746604574461610985243066.html

This record of financial incompetence (nevermind operational incompetence and malfeasance... that will ALWAYS be around) could never survive for five decades in the private sector.  But in government, no problem, and it’s not just healthcare.  Hell, think of Solyndra... of General Motors.... ethanol mandates...  school lunches.  The fact of the matter is, bureaucrats sitting on there fat ass in the otherworldly universe of Washington have a long history of making decisions about which they are totally and  unequivocally unqualified and ill-informed, and more importantly, sooooo disconnected from the consequences of those decisions.

Millions of jobs will be lost, one small company at a time...  people will have a difficult time finding a full time job....  Healthcare premiums will be going up....  there will be a doctor shortage.... big-time doctor shotage...  Obamacare will become a regulatory anvil around the neck of American prosperity.  Luckily though the Obama administration is on the job seeking to ensure that it doesn’t become a “third world experience.“  Which, it’s looking like it just might become.  And to put a cherry on top, with our practically no existent GDP growth, apparently we can look forward to China overtaking the United States by 2016.  What can I say... it's happening.

As bad as those things are, it actually gets worse. Sorry.  Your individual liberty is simply going to disappear.  Many employees are now going to have to begin reveling to employers their weight, body fat measures, cholesterol levels and more.  Pharmacy giant CVS states that all its employees will now have to either quit smoking or enroll in an addiction program by 2014.  That is of course because smokers generally have higher healthcare costs than do nonsmokers, and since CVS is paying for that healthcare, they get to make the rules.  Don’t like it?  Then quit.

But then it’s not only smokers who cost more.  Fat people generally cost more than thin people.  Does that mean that a company can dictate that employees must be Oreo or Doritos or Coke free by the end of the year or enroll in an addiction program?  How about motorcycle riders?  They are 5 times more likely to be involved in a traffic accident than are car drivers.  Does that mean that companies can tell you what you what kind of vehicle you can drive?  How about unmarried women having sex out of wedlock, particularly minority women, where 77% of black births and 53% of Hispanic births are to unwed mothers?  Given that sick children inflict an increased financial & healthcare burden on unwed mothers than they do on married mothers, can a company demand that unmarried female employees purchase and utilize birth control?  (If so, how would they ensure compliance with usage?)  Sure, all of this sounds farfetched, but so too once did the idea of schools telling moms what they can put in their children’s lunchboxes, cities banning Happy Meals and soft drinks and companies actually firing employees for being smokers.

At the end of the day, Obamacare may very well be the last stake in the coffin of individual liberty and American prosperity.  Think of it this way… through the tax code the government already exercises a tremendous amount of influence on your life by deciding how much of your money you can keep... right?  It’s pretty personal, but it’s largely financial, even if it impacts much of the rest of your life.  Through the EPA the government influences your life, although thankfully for most of us it’s at an arm’s length, via regulation of the companies one works for and the firms we buy from.  With Obamacare that scant remaining barrier between government and individual choice will disappear.  Government is indirectly harnessing employers to expand its power over every aspect of your life, including the most intimate parts of it.  And you can be sure it will stay indirect for only so long.  Once government mandates can decide what you can eat, how much you have to exercise, the kind of transportation you choose and how you have sex... what is left of liberty?  Not much.... Add to that the evisceration of the greatest economic engine the world has ever known and you wonder how long before it all comes crumbling down.  Now where does one go to get insurance to protect against that?  But... what the hell.  I'll probably be wearing diapers and forgeting to zip my fly in another couple of years from now, anyway.


....Warph
Title: Re: Doom and Gloom...
Post by: Warph on June 04, 2013, 12:38:07 AM


(http://inlandpolitics.com/blog/wp-content/uploads/2010/02/gloom-doom.jpg)

40 Statistics About The Fall Of The U.S. Economy That Are Almost Too Crazy To Believe


If you know someone that actually believes that the U.S. economy is in good shape, just show them the statistics in this article. 

When you step back and look at the long-term trends, it is undeniable what is happening to us.  We are in the midst of a horrifying economic decline that is the result of decades of very bad decisions. 

**30 years ago, the U.S. national debt was about one trillion dollars.  Today, it is almost 17 trillion dollars. 

**40 years ago, the total amount of debt in the United States was about 2 trillion dollars.  Today, it is more than 56 trillion dollars. 

At the same time that we have been running up all of this debt, our economic infrastructure and our ability to produce wealth has been absolutely gutted.  Since 2001, the United States has lost more than 56,000 manufacturing facilities and millions of good jobs have been shipped overseas.  Our share of global GDP declined from 31.8 percent in 2001 to 21.6 percent in 2011.  The percentage of Americans that are self-employed is at a record low, and the percentage of Americans that are dependent on the government is at a record high.  The U.S. economy is a complete and total mess, and it is time that we faced the truth.


The following are 40 statistics about the fall of the U.S. economy that are almost too crazy to believe:

#1 Back in 1980, the U.S. national debt was less than one trillion dollars.  Today, it is rapidly approaching 17 trillion dollars...


(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/National-Debt-425x255.png)


#2 During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.

#3 The U.S. national debt is now more than 23 times larger than it was when Jimmy Carter became president.

#4 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.

#5 The federal government is stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day.

#6 Back in 1970, the total amount of debt in the United States (government debt + business debt + consumer debt, etc.) was less than 2 trillion dollars.  Today it is over 56 trillion dollars...


(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Total-Debt-425x255.png)


#7 According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001.  That number dropped to 21.6 percent in 2011.

#8 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#9 According to The Economist, the United States was the best place in the world to be born into back in 1988.  Today, the United States is only tied for 16th place.

#10 Incredibly, more than 56,000 manufacturing facilities in the United States have been permanently shut down since 2001.

#11 There are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.

#12 According to the New York Times, there are now approximately 70,000 abandoned buildings in Detroit.

#13 When NAFTA was pushed through Congress in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars.  By 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

#14 Back in 1985, our trade deficit with China was approximately 6 million dollars (million with a little "m") for the entire year.  In 2012, our trade deficit with China was 315 billion dollars.  That was the largest trade deficit that one nation has had with another nation in the history of the world.

#15 Overall, the United States has run a trade deficit of more than 8 trillion dollars with the rest of the world since 1975.

#16 According to the Economic Policy Institute, the United States is losing half a million jobs to China every single year.

#17 Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, less than 65 percent of all men in the United States have jobs.

#18 At this point, an astounding 53 percent of all American workers make less than $30,000 a year.

#19 Small business is rapidly dying in America.  At this point, only about 7 percent of all non-farm workers in the United States are self-employed.  That is an all-time record low.

#20 Back in 1983, the bottom 95 percent of all income earners in the United States had 62 cents of debt for every dollar that they earned.  By 2007, that figure had soared to $1.48.

#21 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

#22 According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.

#23 The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.

#24 According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income".

#25 According to the U.S. Census Bureau, 49 percent of all Americans live in a home that receives direct monetary benefits from the federal government.  Back in 1983, less than a third of all Americans lived in a home that received direct monetary benefits from the federal government.

#26 Overall, the federal government runs nearly 80 different "means-tested welfare programs", and at this point more than 100 million Americans are enrolled in at least one of them.

#27 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid, and things are about to get a whole lot worse.  It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

#28 As I wrote recently, it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

#29 At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for every single household in the United States.

#30 Right now, there are approximately 56 million Americans collecting Social Security benefits.  By 2035, that number is projected to soar to an astounding 91 million.

#31 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.

#32 Today, the number of Americans on Social Security Disability now exceeds the entire population of Greece, and the number of Americans on food stamps now exceeds the entire population of Spain.

#33 According to a report recently issued by the Pew Research Center, on average Americans over the age of 65 have 47 times as much wealth as Americans under the age of 35.

#34 U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

#35 As I mentioned recently, the homeownership rate in America is now at its lowest level in nearly 18 years.

#36 There are now 20.2 million Americans that spend more than half of their incomes on housing.  That represents a 46 percent increase from 2001.

#37 45 percent of all children are living in poverty in Miami, more than 50 percent of all children are living in poverty in Cleveland, and about 60 percent of all children are living in poverty in Detroit.

#38 Today, more than a million public school students in the United States are homeless.  This is the first time that has ever happened in our history.

#39 When Barack Obama first entered the White House, about 32 million Americans were on food stamps.  Now, more than 47 million Americans are on food stamps.

#40 According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."



May 26th, 2013 | Sources: Debt, Dependent On The Government, Economic Decline, Economic Infrastructure, Global GDP, Long-Term Trends, Manufacturing, Produce Wealth, Self-Employed, Statistics, The U.S. Economy, This Debt, U.S. National Debt, Wealth | Category: Commentary, Government Debt, The Next Great Depression, Trade

....Mr. Doom & Mr. Gloom
Title: Re: Doom and Gloom...
Post by: Warph on June 04, 2013, 01:27:00 AM

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/10-Amazing-Charts-That-Demonstrate-The-Slow-Agonizing-Death-Of-The-American-Worker-300x199.jpg)

10 Amazing Charts That Demonstrate The Slow,
Agonizing Death Of The American Worker


The middle class American worker is in danger of becoming an endangered species.  The politicians are not telling you the truth, and the mainstream media is certainly not telling you the truth, but the reality is that there is nothing but bad news on the horizon for workers in the United States.  

In the old days, when the big corporations that dominate our society did well, that also meant good things for American workers since those corporations would need more of us to work for them.  But in the emerging one world economic system that our economy is being merged into, those corporations have other choices now. 

For instance, the big corporations can now choose to limit the number of "expensive" American workers that they employ by shipping millions of jobs to the other side of the world.  And from their perspective, it makes perfect sense.  They can make much bigger profits by hiring people on the other side of the planet to work for them for less than a dollar an hour.  If they can get good production out of those people, then why should they hire Americans for ten to twenty times as much, plus have to give those Americans health insurance and other benefits? 

Another major factor in the slow, agonizing death of the American worker is technology.  We live during a period when technology is advancing at a pace that is almost unimaginable at the same time that it is steadily becoming cheaper and cheaper.  That means that it is going to become easier and easier for companies to replace workers with robots and computers.  As I have written about previously, it is being projected that our economy will lose millions of jobs to technology in the coming years.  Yes, some of us will still be needed to help build the robots and the computers, but not all of us will.  And of course the overall general weakness of the economy is not helping matters either.  The American people inherited the greatest economic machine in the history of the world, and we have wrecked it.  Decades of very foolish decisions have resulted in the period of steady economic decline that we are experiencing now.

America is simply not the economic powerhouse that it once was.  Back in 2001, the U.S. economy accounted for 31.8 percent of global GDP.  By 2011, the U.S. economy only accounted for 21.6 percent of global GDP.  That is a collapse any way that you want to look at it.

Today, American workers are living in an economy that is rapidly declining, and their jobs are steadily being stolen by robots, computers and foreign workers that live in countries where it is legal to pay slave labor wages.  Politicians from both political parties refuse to do anything to stop the bleeding because they think that the status quo is working just great.

So don't expect things to get better any time soon.

The following are 10 amazing charts that demonstrate the slow, agonizing death of the American worker:



#1 Wages And Salaries As A Percentage Of GDP

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Wages-And-Salaries-As-A-Percentage-Of-GDP-425x255.png)


As you can see, wages as a percentage of GDP are hovering near an all-time record low.  That means that American workers are bringing home a smaller share of the economic pie than ever before.


#2 Average Annual Hours Worked Per Employed Person In The United States

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Average-Annual-Hours-Worked-per-Employed-Person-in-the-United-States-425x255.png)

We are an economy that is rapidly trading good paying full-time jobs for low paying part-time jobs.  The decline in average annual hours worked that we have witnessed represents the equivalent of losing millions of jobs.  There has been an explosion of "the working poor" in the United States, and this trend is probably only going to accelerate in the years to come.


#3 Manufacturing Employment

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Manufacturing-Employment-425x255.png)

As you can see, there are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.  The United States has lost more than 56,000 manufacturing facilities since 2001, and yet our politicians stand around and do nothing about it.


#4 Employment-Population Ratio

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Employment-Population-Ratio-20131-425x255.png)

This is one of my favorite charts.  It shows that there has been absolutely no employment recovery at all since the end of the last recession.  The percentage of working age Americans that have a job has stayed under 59 percent for 44 months in a row.  How much worse will things get when the next major economic downturn strikes?


#5 Labor Force Participation Rate

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Labor-Force-Participation-Rate-425x255.png)

This is how the Obama administration is getting the "unemployment rate" to magically go down.  They are pretending that millions upon millions of Americans simply do not want to work anymore.  As you will notice, the decline of the labor force participation rate has accelerated greatly since Barack Obama entered the White House.


#6 Duration Of Unemployment

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Duration-Of-Unemployment-425x255.png)

The average amount of time that it takes an unemployed worker to find a new job has declined slightly, but it is still far above normal historical levels.  It is a crying shame that it takes the average unemployed worker two-thirds of a year to find a new job, but this is the new economic reality that we are all living in.


#7 Delinquency Rate On Residential Mortgages

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Delinquency-Rate-On-Residential-Mortgages-425x255.png)

Since there are not enough jobs for all of us, and since our wages are not rising as rapidly as the cost of living is, a whole bunch of us are falling behind on our mortgages.  As you can see, the mortgage delinquency rate has only dropped slightly and is still way, way above typical levels.


#8 New Homes Sold

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/New-Homes-Sold-425x255.png)

American workers also don't have enough money to go out and buy new homes either.  Yes, new home sales have rebounded slightly this year, but we are nowhere near where we used to be.


#9 Consumer Credit

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Consumer-Credit-425x255.png)

Millions of American families continue to resort to going into debt in a desperate attempt to make ends meet.  After a slight interruption during the last recession, consumer credit once again is growing at a frightening pace.


#10 Self-Employment At A Record Low

(http://theeconomiccollapseblog.com/wp-content/uploads/2013/05/Self-Employed-As-A-Share-Of-Non-Farm-Employment1-425x255.png)



Since there aren't enough jobs for everyone, why aren't more Americans trying to start their own businesses?  Well, the reality of the matter is that the government has made it exceedingly difficult to start your own business today.  Taxes, rules, regulations and red tape are choking the life out of millions of small businesses in the United States.  As a result, the percentage of self-employed Americans is at a record low.

As all of these long-term trends continue, the middle class will continue to shrink, poverty in America will continue to explode and government dependence will continue to rise.

The numbers don't lie.  Today, the number of Americans on Social Security Disability now exceeds the entire population of Greece, and the number of Americans on food stamps now exceeds the entire population of Spain.

We are in the midst of a horrifying economic collapse, and the next major wave of that collapse is rapidly approaching.

Are you ready?


 
....Mr. Doom & Mr. Gloom