The Phaserl


19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

by Michael Snyder, The Economic Collapse Blog:

Barack Obama and the Federal Reserve are lying to you.  The “economic recovery” that we all keep hearing about is mostly just a mirage.  The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point.  In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade.  The response to that article was very strong.  Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media.  Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy.  For those out there that still believe that we are doing “just fine”, here are 19 more facts about the messed up state of the U.S. economy…

#1 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#2 The number of part-time workers in America has increased by 54 percent since the last recession began in December 2007.  Meanwhile, the number of full-time jobs has dropped by more than a million over that same time period.

#3 More than 7 million Americans that are currently working part-time jobs would actually like to have full-time jobs.

#4 The jobs gained during this “recovery” pay an average of 23 percent less than the jobs that were lost during the last recession.

#5 The number of unemployed workers that have completely given up looking for work is twice as high now as it was when the last recession began in December 2007.

#6 When the last recession began, about 17 percent of all unemployed workers had been out of work for six months or longer.  Today, that number sits at just above 34 percent.

#7 Due to a lack of decent jobs, half of all college graduates are still relying on their parents financially when they are two years out of school.

#8 According to a new method of calculating poverty devised by the U.S. Census Bureau, the state of California currently has a poverty rate of 23.4 percent.

#9 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#10 In 2007, the average household in the top 5 percent had 16.5 times as much wealth as the average household overall.  But now the average household in the top 5 percent has 24 times as much wealth as the average household overall.

#11 In an absolutely stunning development, the rate of small business ownership in the United States has plunged to an all-time low.

#12 Subprime loans now make up 31 percent of all auto loans in America.  Didn’t that end up really badly when the housing industry tried the same thing?

Read More @

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

7 comments to 19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

  • Rodster

    Don’t you just love even some in the alternative media refer to the global shit hole we entered in 2008 as a recession? The world entered a Global Depression in 2008. When you have a Greek family of 4 with two school children and a cat living in a car because both parents lost their jobs and can’t find work, that’s not a recession. That’s the reality and the world the banksters have given us through the Ponzi Scheme of fractional reserve banking and Govt’s around the world creating MASSIVE debt levels and promising the ultimate welfare state to it’s citizens. Every industrialized nation is doing the same thing.

    • Ed_B

      “The world entered a Global Depression in 2008.”

      Absolutely it did. But no politician and no bankster will ever admit the obvious here. I’ve read a good deal about economics over the past 7-8 years. Although economists differ on their definitions of what exactly constitutes a recession or a depression, the definition that I have seen in multiple places for a depression is: “A period of declining national production that is coupled with persistent long term unemployment at politically unacceptable levels”. Doesn’t this sound EXACTLY like what we are now experiencing? Sure it does. A recession typically lasts about a year. During a recession companies lay off a lot of workers but then rehire them as we come out of the recession and the number of people working at full time jobs increases dramatically. In a depression, a lot more workers are laid off but they are not replaced in a year or so. The economic decline continues for several YEARS, not months. There is no doubt whatever that we are in a depression and that it has not been helped by US Gov or Fed policies. As usual, they have made the situation worse rather than better… and they have borrowed and spent a s***load of money in the process. If they were private company employees, they would have been fired for incompetence by now. Instead, they continue to run for re-election and idiots who know nothing about economics keep voting for these knuckleheads. It’s extremely exasperating!

  • C.I.

    I Support The Cat…………..

  • rich

    Waiting for Something bad to happen

    I think Friday saw a power-shift from the central banks to the global private banks. I think the global banks served notice that the Central bank plan of 1) reining in the risk-taking of the TBTF banks and 2) stimulating growth in the real economy is now dead in the water. There is a new plan. (Let me apologise now for this video being too long. I really did try half a dozen times to make it shorter. I failed. )

    Couple of things I forgot to mention in the video.

    Lobbying in the US by the financial/Insurance and Real Estate sector in 2014 stands at $249,342,399. Its been above $450 million every year since 2008.

    According to the Sunlight Foundation, Mr Melvin L. Watt, head of the FHFA, had received some 45 percent of his total campaign funds in 2009 from donors in the finance and real estate sector.

    Waiting for Something Bad to Happen

  • WillyT

    They certainly have the Markets and the public fooled. Lets see what will actually happen once all this stimulus ends. That should be a good indicator for what lies ahead. Surprised that the markets aren’t more volatile this week. All it took was the (New Jersey Fed, I believe), to say that ending QE might not be a good idea and they bounce right back, like a crack addict with a 50 spot in his hand off to get his next hit.

    With all this bogus information by he lame stream media talking up this economic recovery and instilling false hopes something has to give soon. At some point in the near future the pigeons have to come home to roost. If not then TPTB have a much stronger hold on this fake economic recovery/system than what we think. Don’t hold your breath folks I’m sure they have a master plan that will take effect once they see that QE didn’t work and we will be subject to more of the same BS just a different flavour.

    • Ed_B

      But maybe that’s just it… the so-called stimulus cannot end without causing an OBVIOUS depression to occur and the politicians and their bankster buddies absolutely have to avoid that because it would awaken the sheeple from their slumber. One of the few things that actually frighten these people is a sheeple stampede. They will avoid that at virtually any cost.

      While the Fed has talked a good taper, the sudden emergence of Belgium, of all places, as a UST bond savior is ludicrous. A country with about 1/3 more GDP than the US state of Vermont purchased $450B worth of UST debt? Really? REALLY? No, not at all. Belgium was merely a front for continued Fed bond buying, aka QE, even though the Fed professes to be tapering. This is merely under the table bond buying and the effect is the same whether done by the Fed above board or under it. Tapering merely fits their current narrative better than saying, “Yes, the US economy is so sick that we simply have to keep buying assets to avoid a complete economic collapse”. While politically unacceptable, that would be the truth.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>