The United States is drowning in a
sea of red ink from coast to coast and most Americans have absolutely no idea
what is about to happen. Hopefully you have started to prepare for the
Below you will find a list of numbers - 1 through 30. For each number,
a statistic has been chosen that demonstrates the financial nightmare that the
A lot of politicians are claiming that they can stop the coming financial crisis from happening. But the truth is that unless our entire financial system is fundamentally transformed, nothing is going to be able to stop the financial nightmare that is headed our way.
Unfortunately, the vast majority of our politicians still believe that the current financial system can be fixed and the vast majority of them still fully support the Federal Reserve.
That is going to prove to be a gigantic mistake. The following are 30
facts that show that the
1 - For fiscal year 2011, the
2 - The balance sheet of the Federal Reserve has been ballooning like crazy. At this point, the Federal Reserve has very little capital backing a balance sheet that is well over 2 trillion dollars.
The following is how Michael Pento of Euro Pacific Capital describes the situation that the Fed is in....
Today, the Fed has $52.5 billion of capital backing a $2.7 trillion balance sheet.
Prior to the bursting of the credit bubble, the public was shocked to learn that our biggest investment banks were levered 30-to-1. When asset values fell, those banks were quickly wiped out. But now the Fed is holding many of the same types of assets and is levered 51-to-1! If the value of their portfolio were to fall by just 2%, the Fed itself would be wiped out.
3 - It is being estimated that it would take a total of 3 trillion euros
to bail out all of the countries in Europe that are in imminent danger of
financial implosion. Europe is heading for a gigantic financial crisis,
and when it happens the
4 - As the
5 - The U.S. Postal Service has lost more than 5 billion dollars over the past year. It looks like the federal government is going to have to help the U.S. Postal Service out financially.
6 - Freddie Mac says that it is going to need another $6 billion bailout from the federal government.
7 - Fannie Mae says that it is going to need another $7.8 billion bailout from the federal government.
8 - We are told that the economy is recovering, but the number of Americans on food stamps has grown by another 8 percent over the past year.
9 - The
10 - The total cost of just three federal government programs - the Department of Defense, Social Security and Medicare - exceeded the total amount of taxes brought in during fiscal 2010 by 10 billion dollars.
12 - The "free trade" agenda being pushed by
our globalist politicians is absolutely killing us. Even in industries
that we were once dominant in we are now getting wiped out. For instance,
13 - Since 1985, the federal government has added 13 trillion dollars to the national debt.
15 - Amazingly, the
16 - According to U.S. Senator Bernie Sanders, the Federal Reserve made 16 trillion dollars in secret loans to big corporations, Wall Street banks, foreign nations and wealthy individuals during the financial crisis.
17 - The "too big to fail" banks just keep getting larger and larger. In the year 2000, Citigroup, JPMorgan Chase, Bank of America and Wells Fargo held approximately 22 percent of all banking deposits in FDIC-insured institutions. By the middle of 2009 that figure was up to 39 percent. That is an increase of 17 percent in less than a decade.
18 - More Americans than ever are totally dependent on the government. In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for more than 18 percent of all income.
19 - As a result of the lack of good jobs, we have huge numbers of Americans in their prime working years that cannot financially support themselves. As I have written about previously, 19% of all American men between the ages of 25 and 34 are living with their parents.
21 - Income inequality is rising to very dangerous levels. According to a joint House and Senate report entitled "Income Inequality and the Great Recession", the top one percent of all income earners in the United States brought in a total of 10.0 percent of all income in 1980, but by the time 2008 had rolled around that figure had skyrocketed to 21.0 percent.
22 - It is not just the federal government with a debt problem. State and local government debt has reached an all-time high of 22 percent of U.S. GDP. Many state and local governments are even closer to going broke than the federal government is.
23 - If you can believe it, during 2010 an average of 23 manufacturing
facilities a day were shut down in the
24 - Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.
25 - According to Shadow Government Statistics, the
"real" rate of unemployment in the
26 - The Pension Benefit Guaranty Corporation (an agency of the federal government) says that it ran a deficit of $26 billion during the fiscal year that just ended and that it will probably need a bailout from the federal government.
27 - In the midst of everything else, the
28 - The
29 - The federal government has borrowed more than 29,000 dollars per household since Barack Obama first took office.
30 - 30 years ago, the
Please share these facts with as many people as you can. The reality is that most Americans have no idea just how bad things have become.
Instead of dealing with the problems that this country is facing, most Americans just try to numb the pain. As a nation, we are incredibly addicted to pleasure and entertainment. It is so much easier to spend endless hours staring at the television than it is to get out there and try to do something to turn this country around.