Courtesy of Michael Snyder of Economic Collapse
It seems like wherever you turn there is bad news for the U.S. economy. Unemployment is rampant, the cost of gasoline is going up, the cost of food is going up and American families are getting poorer. Millions of jobs continue to leave the country and everyone is wondering why it seems like the “American Dream” is dying.
American consumers are absolutely swamped with staggering levels of credit card debt, student loan debt and mortgage debt and each year the consumer debt crisis only seems to get worse. For millions of American families the money problems never seem to end. Meanwhile, our politicians are doing next to nothing to fix our horrific national debt problem. So yes, there are a whole lot of reasons to be absolutely disgusted with the U.S. economy. We are living in the greatest debt bubble in the history of the world, and anyone with half a brain can see that we are heading for complete and total disaster.
A lot of Americans do not like to read about economics, but what has been going on over the last few years has been nothing short of extraordinary. The Federal Reserve has basically tripled the adjusted monetary base. We have now been conditioned to accept that trillion dollar deficits are “normal”. The U.S. dollar is being systematically destroyed right in front of our eyes and most Americans don’t even seem alarmed about it.
Our entire financial system is coming apart.
The signs are everywhere.
The following are 25 reasons to be absolutely disgusted with the U.S. economy….
#8 The Obama administration had been estimating that the federal budget deficit for fiscal 2011 would be approximately 1.6 trillion dollars. Now it will likely be somewhere around 1.55 trillion dollars which will still be an all-time record.
#11 Thanks to globalism, U.S. workers now must directly compete for jobs with workers in places such as Indonesia. In Indonesia, full-time workers make as little as two dollars a day. So how are Americans supposed to compete with that?
#17 According to the New York Times, as of 2009 the wealthiest 5 percent of all Americans had 63.5 percent of all the wealth in America. Meanwhile, the bottom 80 percent had just 12.8 percent of all the wealth.
#18 According to a recent report from the National Employment Law Project, higher wage industries accounted for 40 percent of the job losses over the past 12 months but only 14 percent of the job growth. Lower wage industries accounted for just 23 percent of the job losses over the past 12 months and a whopping 49 percent of the job growth.
That last statistic really gets me. During the month of April the American people are going to be spending massive amounts of time and money to prepare their taxes.
But what do Americans get in return for their taxes?
What they get is a government that is completely and totally incompetent. Our “leaders” are running the greatest economy in the history of the world into the ground, but unfortunately most Americans have no idea what is happening.
Why are Americans so clueless?
Well, the truth is that over time we have been turned into a nation of idiots and morons.
To get an idea of just how “dumbed down” we have become as a nation, just check out this Harvard entrance exam from 1869.
I wouldn’t have a prayer of passing that exam.
What about you?
Thanks to the slothfulness of society, the deficiencies in our education system and the toxins in our food, air and water it has become hard for most of us to think clearly.
Most of us are fat, dumb and totally clueless. The entire economic system is being shredded and most of us just drool and turn up the television a little louder.
If we have money problems, most of us just run out and apply for another credit card. If our state and local governments run into financial problems they just borrow even more money.
Of course the biggest offender of all is the federal government. What our politicians are doing to future generations is not just criminal. It is beyond criminal. It is absolutely unconscionable.
So please excuse me if I am absolutely disgusted with the U.S. economy.
We took the greatest economy in the history of the world and we wrecked it.
How in the world are we going to explain this to our children and our grandchildren?
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