http://theeconomiccollapseblog.com
http://albertpeia.com/americaindeclineandloweredexpectations.htm
‘All over
We
live during a time when "the American Dream" is literally being
redefined. In the old days, just about anyone could get a good job that
would pay enough to make it possible to buy a house, buy a nice car and raise a
family.
Unfortunately,
those days are long gone. The following is from a recent NPR article....
The
town of
"Now
you can see what it is. Nothing," says John Beribak.
"The shipyards are gone, the Ford plant is gone, the
steel plant is gone." His voice cracks as he describes the town he's lived
in his whole life.
"I
mean, I grew up across the street from the steel plant when there was 15,000 people working there," he says. "My dad
worked there. I worked there when I got out of the Air Force. It's just
sad."
We
live in an economy that is in serious decline. In this environment no job
is safe. In fact, even Goldman Sachs is laying off workers these days.
Millions
of Americans are suffering from deep depression because they can't find
jobs. Many of them are sitting at home right now blankly starting at
their television screens as they wonder why nobody wants to hire them.
Some have been unemployed for years and have sent out thousands upon thousands
of resumes. The following is from a recent article by J.D. Hicks....
I
have a brilliant cousin with a $180K
Society
has trained us to believe that we are worthless without a job. Indeed, we feel
worthless when we are unemployed with few prospects of making money. Family,
friends, and peers constantly remind us in subtle and not-so-subtle ways that
we “need” a job.
Have
you ever been unemployed?
How
did it make you feel?
How
were you treated by your family and friends?
In
the old days, a college education was almost a guaranteed ticket to the middle
class.
But
these days, a college education guarantees you absolutely nothing.
As a
recent article by Jed Graham detailed, most young
unemployed workers in
For
the first time in history, the number of jobless workers age 25 and up who have
attended some college now exceeds the ranks of those who settled for a high
school diploma or less.
Out
of 9 million unemployed in April, 4.7 million had gone to college or graduated
and 4.3 million had not, seasonally adjusted Labor Department data show.
Overall,
53
percent of all Americans with a bachelor's degree under the age of 25 were
either unemployed or underemployed last year.
It is
tough to tell young college graduates with their whole lives ahead of them that
they need to lower their expectations because
So
where did all the jobs go?
Well,
one place they went is overseas. Over the past couple of decades,
millions upon millions of good jobs have left the
That
is why you see gleaming new factories going up all over
But
as a recent WND article reported, the WTO has a
solution. They plan to replace "Made in
The
World Trade Organization is moving closer to eliminating country-of-origin
labels and replacing them with “Made in the World” initiative labels because
they say we need to “reduce public opposition to free trade” and “re-engineer
global governance.”
As
the number of middle class jobs has steadily declined in recent years, the
number of low paying service jobs has increased.
In a previous article, I discussed how approximately one out of every four
Could
your family survive on 10 dollars an hour?
Today,
you can find hordes of very smart, very talented Americans flipping burgers,
waiting tables and welcoming people to Wal-Mart.
Sadly,
the
Perhaps
we should applaud our leaders for doing such a great job of destroying the
American Dream.
Because
so many Americans are working crappy jobs, a very large percentage of them have
absolutely no savings to speak of.
According
to one survey, 42 percent of all American workers live
paycheck to paycheck.
I am
constantly encouraging people to save up an "emergency fund" that
will enable them to pay their bills for at least 6 months if they suddenly
become unemployed.
Unfortunately,
for many Americans that is simply not possible. Way too many families are
just barely scraping by from month to month.
Another
area of the economy where Americans are facing lowered expectations is in
housing.
In
the old days, most Americans dreamed of owning their own homes.
But
today we are being told that things have changed. For example, a recent
Steve
and Jodi Jacobson bought their Phoenix-area "dream home" in 2005.
They built flagstone steps to the front door. They tiled the kitchen and
bathroom. They entertained often, enjoying their mountain views.
"We
put our soul into that house," says Steve Jacobson, 37.
Then,
home prices tanked more than 50%. Steve, a software quality assurance engineer,
suffered pay cuts. In 2010, foreclosure claimed the home and their $100,000
down payment.
The
Jacobsons didn't lose their desire to live in a
single-family home, however. They now rent one, like many other former
homeowners displaced by foreclosure.
Is
that what we are supposed to tell future generations of Americans?
"Listen
Johnny and Suzie, if you work really, really hard at your minimum wage jobs
perhaps someday you will be able to rent a home that has been foreclosed by a
big, greedy bank".
It is
so sad to watch what is happening to this country.
These
days many Americans are scratching and clawing and doing everything that they
can to make it, but they still find themselves short on money at the end of the
month.
Many
are turning to debt in an attempt to bridge the gap. According to CNN, 40 percent of "low- and
middle-income households" are using credit cards to pay for basic living
expenses.
Overall,
That
is an incredible number.
As
the economy has declined, a lot of families have completely given up trying to
make it on their own and have turned to the
Just
think about that number for a while. It is one of the clearest signs that
Unfortunately,
things are about to get even worse. The next wave of the financial crisis
is unfolding in Europe and we will all be talking
about another "major global recession" very soon.
That
means that unemployment in the
For
the millions upon millions of Americans that are already suffering through the
horror of unemployment, that is really bad news.
Posted
below is a trailer for a new HBO documentary entitled "Hard Times: Lost on
So do
any of you have any stories of lowered expectations to share? Please feel
free to post a comment with your thoughts below....