July 31, 2012
Do you want to know when the “economic collapse” is going to happen? Just open up your eyes and take a look. The “economic collapse” is already happening all around us. So many people talk about the coming economic collapse as if it is some massively hyped event that they will be able to point to on the calendar, and a lot of writers spend a lot of time speculating about exactly when it will happen. But as I have written about before, the economic collapse is not a single event. The economic collapse has been happening, it is happening right now, and it will be getting a lot worse. Yes, there will be moments of great crisis. We saw one of those “waves” back in 2008 and another “wave” is rapidly approaching. But all of the waves are part of a process that is continually unfolding. Over the past 40 years, the United States and Europe have piled up the greatest mountain of debt in the history of the world, and now a tremendous amount of pain is heading our way. Economic conditions in the United States and Europe have already deteriorated badly and they are going to continue to deteriorate. Nothing is going to stop what is coming.
But many people are still in denial about our economic decline. Some people still believe that everything is going to be just fine. Way too often I get comments on my site that go something like this….
“I just don’t know what you are talking about. Where I live everything is just fine. The malls are packed, the restaurants are full and everybody I know is going on vacation this summer. Personally, I am doing great. I just bought a 60 inch television and a new boat. Every year all the ‘doom and gloom’ types such as yourself proclaim that an economic collapse is right around the corner but it never happens. And you know what? It is not going to happen. Those in charge know what they are doing and America has the greatest economy on earth. We have overcome challenges before and we will be able to handle whatever comes this time. Your lack of faith in America and in the American people astounds me. Everything is going to be just fine, so why don’t you just *************************************.”
You get the idea.
I definitely understand that most Americans are terribly self-involved these days, but when I read comments like this I am once again amazed at just how delusional some people can be.
Why can’t people just open their eyes and look at the evidence of economic collapse that is all around us?
Yes, there are wealthy enclaves all over the country where things may seem better than ever, but that is not the reality for most Americans.
All over the country, our infrastructure is in shambles.
All over the country, our once proud cities are being transformed into hellholes.
All over the country, formerly middle class families are living in their cars.
There are dozens and dozens of economic statistics that clearly show that we are in the midst of a long-term economic decline. I have listed 65 of them below, but I could have easily doubled or tripled the size of the list.
I simply do not understand how anyone can believe that things are “great” or that the U.S. economy is going to be “just fine”.
We are living through a complete and total economic nightmare, and hopefully we can get more Americans to wake up from their entertainment-induced comas so that they can begin to understand exactly what is happening to this country.
The following are 65 signs that the economic collapse is already happening all around us….
1. Since Barack Obama entered the White House, the number of long-term unemployed Americans has doubled from 2.7 million to 5.4 million.
2. The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.
4. Unemployment in the eurozone has hit another brand new record high. It is now sitting at 11.2 percent. It has risen for 14 months in a row.
5. The U.S. economy lost more than 220,000 small businesses during the recent recession.
6. The percentage of Americans that are self-employed fell by more than 20 percent between 1991 and 2010.
7. Overall, the number of “new entrepreneurs and business owners” droppedby a staggering 53 percent between 1977 and 2010.
8. The unemployment rate in Spain is now up to 24.6 percent.
9. Morgan Stanley is projecting that the unemployment rate in Greece will exceed 25 percent in 2013.
10. Since Barack Obama became president, the price of a gallon of gasoline has risen from $1.85 to $3.49.
12. About three times as many new homes were sold in the United States in 2005 as will be sold in 2012.
13. While Barack Obama has been in the White House, home values in the United States have declined by 12 percent.
14. According to AARP, 600,000 American homeowners that are 50 years of age or older are currently in foreclosure.
15. Right now there are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
16. According to Gallup, the current level of homeownership in the United States is the lowest that they have ever measured.
17. Federal housing assistance increased by a whopping 42 percentbetween 2006 and 2010.
18. In some areas of Detroit, Michigan you can buy a three bedroom homefor just $500.
19. All around us our cities are crumbling. According to the American Society of Civil Engineers, 2.2 trillion dollars is needed just to repair critical infrastructure in the United States.
20. The unemployment rate in New York City is now back up to 10 percent. That equals the peak unemployment rate in New York City during the last recession.