15 Signs That The Economy Is Rapidly Getting Worse As We Head Into 2013
The Economic Collapse
December 16th, 2012
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How can the mainstream media claim that the U.S. economy is â€śimprovingâ€ť when it is painfully obvious to anyone with a brain that the middle class is being absolutely eviscerated?
According to numbers that were just released, the number of Americans on food stamps rose by more than 600,000 in a single month to an all-time record high of 47.7 million.
Youth unemployment in the U.S. is at a post-World War II high and large companies have announced the elimination of more than 100,000 jobs since Barack Obama won the election.
Consumer debt just hit a new record high and the federal government is accumulating debt at a much faster pace than it was at this time last year. So where is the evidence that the economy is getting better?
The mainstream corporate media says that the decline of the unemployment rate to â€ś7.7 percentâ€ť is evidence that things are improving, but I already haveÂ shown how fraudulent that number is.
The percentage of working age Americans with a job today is exactly where it was back in September 2009 in the midst of the last major economic crisis.
The mainstream media is desperate for any shred of evidence that it can use to make people feel good and show that the Obama administration has our economy on the right track, and so they jump on any number that even looks remotely promising and they ignore mountains of evidence to the contrary.
They donâ€™t seem to care that poverty is absolutely exploding and that the number of Americans on food stamps has risen by nearly 50 percent while Obama has been in the White House. They donâ€™t seem to care that the U.S. share of global GDP has fallen fromÂ 31.8 percentÂ in 2001 toÂ 21.6 percentÂ in 2011.
They donâ€™t seem to care that more good paying jobs are being shipped overseas with each passing day. They donâ€™t seem to care that formerly great U.S. cities that were once the envy of the entire globe are now crime-infested hellholes.
All they seem to care about is putting out news that makes people feel warm and fuzzy and making sure that Obama looks good.
Unfortunately, the truth is that the U.S. economy is steadily getting worse, and 2013 is not looking very promising at all right now. Hopefully at some point the mainstream media will take a break from coverage of the royal pregnancy and the latest celebrity scandals to report on the real problems that we are facing right now.
The following are 15 signs that the economy is rapidly getting worse as we head into 2013â€¦
#1 According to numbers that were just released, the number of Americans on food stamps has risen to a new all-time record ofÂ 47.71 million. That is a huge increase of more than 600,000 over the previous reading of 47.10 million. After about a year of slow growth, it looks like the number of Americans on food stamps is starting to skyrocket once again. Back in the 1970s,Â about one out of every 50 AmericansÂ was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
#2 Youth unemployment in the United States is now at the highest level that we have seenÂ since World War II.
#3 According to Gallup, unemployment in the United States shot upÂ very sharplyÂ during the month of November.
#4 It looks like the unemployment numbers are likely to get even worse. Since the election, dozens of large companies have announcedÂ major layoffs. Overall, large companies have announced the elimination of more than 100,000 jobs since November 6th.
#5 According to the Wall Street Journal, of the 40 biggest publicly traded corporate spenders,Â half of themÂ plan to reduce capital expenditures over the coming months.
#6 Small business owners all over AmericaÂ are declaringÂ that Obamacare is going to force them to start replacing full-time workers with part-time workers during 2013.
#7 One recent survey discovered thatÂ 40 percentÂ of all Americans have $500 or less in savings.
#8 A different recent survey found thatÂ 28 percentÂ of all Americans do not have a single penny saved for emergencies.
#9 62 percent of middle class Americans say that they have had toÂ reduce household spendingÂ over the past year.
#10 Many Americans are trying to make ends meet for their families by going into more debt. Consumer borrowing hitÂ another brand new record highÂ in October. It looks like the American people have not learned from their past mistakes and have decided to roll up consumer debt at a faster pace than ever before.
#11 Median household income in America has fallen forÂ four consecutive years. Overall, it has declined by over $4000 during that time span.
#12 Wall Street bankers are expecting â€śthe worst bonus seasonâ€ť since 2008. Not a lot of people are going to shed tears over this one, but this is a sign that there is trouble in the financial world.
#13 Food banks all over America are reporting that more needy familiesÂ than ever beforeÂ are showing up to get food.
#14 As IÂ wrote the other day, the federal government has run a deficit ofÂ $292 billion dollarsÂ during the first two months of fiscal 2013.
That figure is $57 billion higher than it was during the same period last year. Government debt continues to soar wildly out of control and at some point all of that debt is absolutely going to crush us.
#15 I have written previously about how the once great city of Detroit has becomeÂ a symbol of the downfall of the U.S. economy.
Well, now the state of Michigan is laying the groundwork for a â€śmanaged bankruptcyâ€ť of Detroit. Sadly, many other large U.S. cities will likely follow suit over the next couple of years.
We should truly mourn for what is happening to Detroit. At one time, it was one of the most beautiful cities on earth. But now it is on the cutting edge of Americaâ€™s economic decline.
You can see some amazing before and after pictures of an abandoned Detroit schoolÂ right here. Sadly, what is happening to Detroit will soon be happening to the rest of the country.
A similar thing is happening over in Europe. Greece is on the cutting edge of Europeâ€™s economic decline, and people over there are becoming very desperate.
The following is an excerpt from aÂ Financial Post articleÂ about how the Greek middle class is turning to crime as the depression in that nation gets even worseâ€¦
In the once stable neighborhood of Kordelio, the unemployed and drug users gather in the parks, scaring away mothers and children, and crimes like chain snatching are on the rise. Many long-time residents have left, moving abroad or to their familiesâ€™ villages, leaving behind empty houses, said Evangelia Rombou, 58, who has lived in Kordelio for 22 years.
But it is not just Greece that is grappling with these kinds of issues. Now even countries that had been thought to be â€śstableâ€ť are experiencing significant problems. For example, a massive crime wave has broken outÂ in France. The crime wave in France is being blamed on â€śausterityâ€ť, but the government of France still spends far more than it brings in.
So how bad would things get in France if the French government actually did go to a balanced budget?
And how bad would things get in the United States if the federal government was not stealing more than 100 million dollars an hour from our children and our grandchildren?
Even in the midst of our debt-fueled prosperity we are starting to see glimpses of how desperate people will become when our country is someday forced to live within its means.
For example, the following is from a report about an incident that happened inÂ Columbus, OhioÂ the other dayâ€¦
Columbus Police sprayed Mace on several people in a crowd that had gathered to sign up for a list to get subsidized housing at a northwest Columbus apartment complex.
Police said the crowd started to gather Friday night for the Saturday morning event at The Heritage apartment complex on Gatewood Road near Sunbury Road in northeast Columbus.
Authorities said that its highest number, the crowd reached 2,000 people.
Our entire economy is a giant mirage. Our prosperity has been purchased by stealing from the future.
A few people have been warning that we have completely destroyed our future in the process, but both major political parties just continue to do it and the mainstream media just continues to cheer them on.
At some point this con game will end and this economic mirage will disappear. When that happens, millions of people all over this country are going to become very angry and very desperate.
I hope that you have a plan for what you will do when that happens.
Delivered by The Daily Sheeple
Contributed by Michael Snyder of The Economic Collapse.
Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream , The Truth and Economic Collapse Blog.
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