‘Not so fast. Those that are
publicly declaring that an economic recovery has arrived are ignoring a whole
host of numbers that indicate that the
The Obama administration would have us believe that unemployment in the United States has declined, but the truth is that the percentage of working age Americans that are employed has stayed very, very flat for more than two years and now there are some measures of unemployment that are actually getting worse.
For example, according to Gallup the unemployment rate in the
Initial unemployment claims are rising again. For the week ending March 3rd, they increased by 8,000 over the previous week to 362,000. This is not the kind of good news that people were hoping for.
Right now there are millions of
Americans in their prime working years that are sitting at home wondering what
to do with their lives. The average duration of unemployment in the
But a lot of Americans have bought into the propaganda about an economic recovery and they are out running up huge amounts of debt once again. In January, consumer credit increased by much more than expected. The following is from a recent Reuters report....
which includes auto loans as well as student loans made by the government, rose $20.723 billion during the month. That was the biggest
increase in dollar terms since November 2001, when credit was surging in the
wake of the September 11 attacks in
Don't fall into the trap of debt slavery. During the last recession millions of Americans lost their homes and most of what they owned because they got overextended.
Don't do it.
*The number of new homes sold in the
*According to CoreLogic,
percent of all homes with a mortgage in the
Why are things still getting worse for the U.S housing market?
That is a really good question.
We should have seen some improvement by now.
But it isn't happening.
Also, poverty in America continues to explode.
For example, the number of Americans on food stamps has increased to 46.5 million - a brand new all-time record.
If we really were in an economic recovery, wouldn't that number be going down?
We should be thankful that the
The big problem is that our nation is covered in an ocean of constantly expanding debt.
U.S. consumers are drowning in debt,
U.S. businesses have pushed debt levels to the red line, and the
Of course government debt is our biggest debt problem of all.
All over the nation, state and local governments are on the verge of financial ruin.
If we were in the middle of an
economic recovery, so many states would not be in crisis mode. A recent
article in the
A lot of local governments around the
nation are on the verge of total financial collapse. Stockton, California
has announced that they will be defaulting on some debt payments, and
Keep your eyes open for more news items like this in the months ahead.
Of course the biggest problem of all is the U.S. national debt and it continues to rapidly get worse.
According to the Congressional Budget
The Congressional Budget Office also
says that the
Are there any words in the English language that are strong enough to describe how foolish we have been?
Of course we won't be able to accumulate so much debt indefinitely. At some point the trillion dollar deficits will stop and our false prosperity will disappear.
If you want to get an idea of what happens then, just take a look at Greece.
But Barack Obama and most members of
What they care about is winning the next election so that they can continue living their fabulous lives.
Barack Obama is supposed to be taking
care of the American people, but instead he has been very busy taking care of
the people who helped him get elected. Politics in
More than half of Obama’s 47 biggest fundraisers, those who collected at least $500,000 for his campaign, have been given administration jobs. Nine more have been appointed to presidential boards and committees.
least 24 Obama bundlers were given posts as foreign ambassadors, including in
The federal government is not going to save you.
Our politicians are not going to save you.
You better figure out how you are going to take care of yourself and your family in the years ahead because this is about as good as things are going to get.
This "economic recovery" is about to end and more pain is about to begin.