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Thread: 50 Economic Numbers About The US That Are "Almost Too Crazy To Believe"

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    Default 50 Economic Numbers About The US That Are "Almost Too Crazy To Believe"

    this might serve a nice reference for arguments here or in the POFO. just about every one of these has a link if you go into the zerohedge post

    http://www.zerohedge.com/news/50-eco...-crazy-believe

    The Economic Collapse Blog does a terrific job of periodically putting together a compilation of the scariest data points about the US economy. Today is one such day, and the list of 50 economic numbers presented is indeed, as the author puts it, "almost too crazy to believe"... Almost. As noted: "At this time of the year, a lot of families get together, and in most homes the conversation usually gets around to politics at some point. Hopefully many of you will use the list below as a tool to help you share the reality of the U.S. economic crisis with your family and friends. If we all work together, hopefully we can get millions of people to wake up and realize that "business as usual" will result in a national economic apocalypse." Or, far more likely, 99% of the population can continue watching Dancing with the Stars, as what little wealth remains is terminally transferred to those who are paying attention right below everyone's eyes.

    From the Ecopnomic Collapse Blog:

    The following are 50 economic numbers from 2011 that are almost too crazy to believe....



    #1 A staggering 48 percent of all Americans are either considered to be "low income" or are living in poverty.



    #2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be "low income" or impoverished.



    #3 If the number of Americans that "wanted jobs" was the same today as it was back in 2007, the "official" unemployment rate put out by the U.S. government would be up to 11 percent.



    #4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.



    #5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.



    #6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.



    #7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.



    #8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006. Today, that number has shrunk to 14.5 million.



    #9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.



    #10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.



    #11 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low income jobs.



    #12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. In July, only 81.2 percent of men in that age group had a job.



    #13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.



    #14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.



    #15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.



    #16 As the economy has slowed down, so has the number of marriages. According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married. Back in 1960, 72 percent of all U.S. adults were married.



    #17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.



    #18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.



    #19 Nevada has had the highest foreclosure rate in the nation for 59 months in a row.



    #20 If you can believe it, the median price of a home in Detroit is now just $6000.



    #21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant. That figure is 63 percent larger than it was just ten years ago.



    #22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.



    #23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.



    #24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.



    #25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.



    #26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.



    #27 If you can believe it, one out of every seven Americans has at least 10 credit cards.



    #28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.



    #29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.



    #30 The retirement crisis in the United States just continues to get worse. According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.



    #31 Today, one out of every six elderly Americans lives below the federal poverty line.



    #32 According to a study that was just released, CEO pay at America's biggest companies rose by 36.5% in just one recent 12 month period.



    #33 Today, the "too big to fail" banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.



    #34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.



    #35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.



    #36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.



    #37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.



    #38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.



    #39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.



    #40 Sadly, child poverty is absolutely exploding all over America. According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.



    #41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.



    #42 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.



    #43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.



    #44 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.



    #45 For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped one trillion dollars.



    #46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.



    #47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.



    #48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.



    #49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.



    #50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
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    It's really eye-opening that something like 50% of this country pays NO taxes.

    Meanwhile, we're concerned with increasing the taxes of the 1%? LMAO
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    Quote Originally Posted by texasPHINSfan View Post
    It's really eye-opening that something like 50% of this country pays NO taxes.

    Meanwhile, we're concerned with increasing the taxes of the 1%? LMAO
    How is that eye-opening at all?

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    Quote Originally Posted by Dol-Fan Dupree View Post
    How is that eye-opening at all?
    Pretty easy, actually. If you didn't know that statistic before...
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    Quote Originally Posted by texasPHINSfan View Post
    Pretty easy, actually. If you didn't know that statistic before...
    How so?

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    I don't follow politics. At all.

    This tax-related discussion usually happens with political discourse. Me, personally - I just hadn't read that anywhere since my readings usually don't deal with that topic.

    It is what it is.

    A better question might be why is it so hard to believe someone doesn't know a statistic that isn't common knowledge.
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    I can believe it. After 30 years of right-wing, neoliberal economics practiced by both parties, we have the failed results we're living with today, with more and more people falling into an ever-shrinking safety net.

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    Quote Originally Posted by FinSane View Post
    I can believe it. After 30 years of right-wing, neoliberal economics practiced by both parties, we have the failed results we're living with today, with more and more people falling into an ever-shrinking safety net.
    the american people get what they deserve. they are sheep and they deserve to get sheared. until a generation wakes up and does what's necessary to take back the country its lambs to the slaughter. well at least they have american idol to keep them amused

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    A flat tax would be better than the current system, but with how many CPAs we have out there I doubt a tax code along those lines ever gets instated.
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    The reality is that no one is promised that life is easy or that you are guaranteed a job. It is the responsibility of each individual to get the education or training to enable him or her to find a job in the market place.
    While things may seem tough right now, they are far tougher in most every other country on Earth.

    It appears that today many people want to sit around and complain about how bad things are instead of going out and doing something to improve their own lot in life. Unless you have a severe health problem which prevents you from improving your financial situation. Sitting around complaining about how bad you have it, compared to the 50% of Americans who actually pay taxes and earn most of the income, isn't going to get you into that 50% anytime soon.

    Politicians or the rich aren't responsible for your present economic situation, you are. Yes things are tough today, but they have been just as tough or tougher at other times in American history. Dwelling on how bad you have it and doing nothing except complaining about your situation or blaming it on others, serves absolutely no useful purpose. If you don't like your present situation, change it. You are in control of you own life and sitting around complaining about how bad you have it or how bad things are, isn't going to do anything but cause you to wallow in self pity. It certainly isn't going to help you improve your financial situation one bit.

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    Quote Originally Posted by jw3102 View Post
    The reality is that no one is promised that life is easy or that you are guaranteed a job. It is the responsibility of each individual to get the education or training to enable him or her to find a job in the market place. While things may seem tough right now, they are far tougher in most every other country on Earth. It appears that today many people want to sit around and complain about how bad things are instead of going out and doing something to improve their own lot in life. Unless you have a severe health problem which prevents you from improving your financial situation. Sitting around complaining about how bad you have it, compared to the 50% of Americans who actually pay taxes and earn most of the income, isn't going to get you into that 50% anytime soon.Politicians or the rich aren't responsible for your present economic situation, you are. Yes things are tough today, but they have been just as tough or tougher at other times in American history. Dwelling on how bad you have it and doing nothing except complaining about your situation or blaming it on others, serves absolutely no useful purpose. If you don't like your present situation, change it. You are in control of you own life and sitting around complaining about how bad you have it or how bad things are, isn't going to do anything but cause you to wallow in self pity. It certainly isn't going to help you improve your financial situation one bit.
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    Quote Originally Posted by jw3102 View Post
    The reality is that no one is promised that life is easy or that you are guaranteed a job. It is the responsibility of each individual to get the education or training to enable him or her to find a job in the market place.
    While things may seem tough right now, they are far tougher in most every other country on Earth.

    It appears that today many people want to sit around and complain about how bad things are instead of going out and doing something to improve their own lot in life. Unless you have a severe health problem which prevents you from improving your financial situation. Sitting around complaining about how bad you have it, compared to the 50% of Americans who actually pay taxes and earn most of the income, isn't going to get you into that 50% anytime soon.

    Politicians or the rich aren't responsible for your present economic situation, you are. Yes things are tough today, but they have been just as tough or tougher at other times in American history. Dwelling on how bad you have it and doing nothing except complaining about your situation or blaming it on others, serves absolutely no useful purpose. If you don't like your present situation, change it. You are in control of you own life and sitting around complaining about how bad you have it or how bad things are, isn't going to do anything but cause you to wallow in self pity. It certainly isn't going to help you improve your financial situation one bit.
    I agree somewhat with what you're saying. But yes there are politicians and rich as well as poor who should bare some responsibility.
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    Quote Originally Posted by jw3102 View Post
    The reality is that no one is promised that life is easy or that you are guaranteed a job. It is the responsibility of each individual to get the education or training to enable him or her to find a job in the market place.
    While things may seem tough right now, they are far tougher in most every other country on Earth.

    It appears that today many people want to sit around and complain about how bad things are instead of going out and doing something to improve their own lot in life. Unless you have a severe health problem which prevents you from improving your financial situation. Sitting around complaining about how bad you have it, compared to the 50% of Americans who actually pay taxes and earn most of the income, isn't going to get you into that 50% anytime soon.

    Politicians or the rich aren't responsible for your present economic situation, you are. Yes things are tough today, but they have been just as tough or tougher at other times in American history. Dwelling on how bad you have it and doing nothing except complaining about your situation or blaming it on others, serves absolutely no useful purpose. If you don't like your present situation, change it. You are in control of you own life and sitting around complaining about how bad you have it or how bad things are, isn't going to do anything but cause you to wallow in self pity. It certainly isn't going to help you improve your financial situation one bit.
    Not entirely true anymore. This isn't the America of the past. The deck is stacked. That's why there is such a vast gulf between the haves and have nots. Wall Streets power to dictate the economy instead of being an indicator of it has changed everything. We're talking Enron type corruption but on a countrywide scale. People are screwed. There will always be people that abuse a system that goes for welfare and the stock market. Right now however, the level of abuse by wall street is a 100 fold more detrimental than the abuse of welfare.

    Think about why people are *****ing. They didn't just one day get lazy. They were screwed by gas prices, the housing bubble and the credit crunch. If those things don't happen, we aren't having this discussion. Those things are all caused by the people who manipulate their respective markets through shady tactics.
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    Quote Originally Posted by Finascious D View Post
    Not entirely true anymore. This isn't the America of the past. The deck is stacked. That's why there is such a vast gulf between the haves and have nots. Wall Streets power to dictate the economy instead of being an indicator of it has changed everything. We're talking Enron type corruption but on a countrywide scale. People are screwed. There will always be people that abuse a system that goes for welfare and the stock market. Right now however, the level of abuse by wall street is a 100 fold more detrimental than the abuse of welfare.Think about why people are *****ing. They didn't just one day get lazy. They were screwed by gas prices, the housing bubble and the credit crunch. If those things don't happen, we aren't having this discussion. Those things are all caused by the people who manipulate their respective markets through shady tactics.
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    Quote Originally Posted by Finascious D View Post
    Not entirely true anymore. This isn't the America of the past. The deck is stacked. That's why there is such a vast gulf between the haves and have nots. Wall Streets power to dictate the economy instead of being an indicator of it has changed everything. We're talking Enron type corruption but on a countrywide scale. People are screwed. There will always be people that abuse a system that goes for welfare and the stock market. Right now however, the level of abuse by wall street is a 100 fold more detrimental than the abuse of welfare.

    Think about why people are *****ing. They didn't just one day get lazy. They were screwed by gas prices, the housing bubble and the credit crunch. If those things don't happen, we aren't having this discussion. Those things are all caused by the people who manipulate their respective markets through shady tactics.
    I just don't agree that Wall Street is the problem. I think that many individuals who are invested in stocks should not be. They don't have the risk tolerance to deal with the ups and downs of the market on a daily basis. I have been an active investor in the stock markets since the early 1980's. I have always understood that there is risk in the market and that you have to be able to handle this risk.

    I have a lot of friends who were invested in the stock market prior to the huge sell off in late 2008 and early 2009. Most of these individuals couldn't stand seeing their retirement savings depleted by this sell off, so they got out of the market after losing thousands of dollars and have refused to get back in the market, even though the DOW is up well over five thousand points from its 2009 low.
    Since I had been an investor for over 25 years when the sell off took place. I didn't sell a single share of stock as the markets fell. Instead, I purchased shares of large cap stocks which were selling at prices they had not sold at in years.

    While many of my friends have never recovered from the losses they took by selling their stocks at prices well below what they paid for them. I was able to quickly recover from my paper losses within less then a year and I have been fortunate to have made a great deal of money over the last three plus years as the market has continued to rise. So my view is that if you lost money in the stock market over the last four or five years, it is probably because you didn't understand the market and you probably should not have been in the market in the first place.

    Regarding your statement that people are upset because they have been screwed by gas prices, the housing bubble and the credit crunch, I again don't agree that this is the fault of the government or Wall Street.

    Gas prices tend to rise based on what is happening in the world at any given time. We are also living in a time where we are no longer the only major country using a massive amount of energy. China and India are no longer basically agricultural nations. They rely a great deal on the same energy sources which America used to dominate in regards to consumption. I have been fortunate enough to travel around Europe and parts of Asia in recent years and I can assure you that the prices we are paying for gasoline today is a great deal less then what the citizens of these areas are paying for their gasoline. The world has changed and the United States can not longer dominate the use of the natural resources as we did in the past. High gas prices are a fact of life today and I don't see this changing for the better anytime in the near future.

    As far as the housing bubble and the credit crush goes. The reality is that it was individuals who purchased homes they couldn't really afford and charged items on credit cards they couldn't pay for who created these two problems. While credit and home loans were too easily accessible prior to 2008. No one forced anyone to buy a home which they couldn't afford or to go out and max out their credit cards just so they could buy more, "THINGS". People wanting it, NOW" even if they couldn't afford it ,was the problem.

    To me, the access to easy credit and easy loans created a scenario where many individuals felt that they had the right to live beyond their means. They didn't care if they could really afford the home or other items they were taking out loans to purchase or charging on one of their ten or more credit cards.

    I am happy to see that it is more difficult to take out home loans today and that banks and credit card companies have cut back on the availability of the easy access to these cards. I have always believed that if you don't have the money in the bank to pay for an item, you shouldn't be buying it in the first place. The fact is that prior to the recession in 2008, nearly 50% of Americans were living beyond their means. I blame these individuals for this, not the banks, credit card companies, Wall Street or the politicians.

    Hopefully we have learned our lesson as a nation regarding easy credit and we will never return to the unlimited access to credit cards and no income verification loans which led to the worst economic decline we have seen since the Great Depression.

    People in America need to learn to live within their means and if that means they can no longer buy every new product on the market, and they have to wait to buy a home until they can actually afford to make the payments, so be it.

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    Quote Originally Posted by jw3102 View Post
    People in America need to learn to live within their means and if that means they can no longer buy every new product on the market, and they have to wait to buy a home until they can actually afford to make the payments, so be it.
    And as for the giant companies that are highly leveraged thus started going under? Whose fault is that? Wallstreets? The peoples?
    And the point is the housing bubble was created by banks/mortgage companies selling off bad mortgages thus spreading the bad debt. The derivatives market? Those were all caused by wall street companies, hence why wallstreet companies needed bailing out. You can't take away their culpability, no matter how much you want to. They played a shell game, and they almost sunk the entire world economy. That there is no getting around.
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    Quote Originally Posted by unluckyluciano View Post
    And as for the giant companies that are highly leveraged thus started going under? Whose fault is that? Wallstreets? The peoples?
    And the point is the housing bubble was created by banks/mortgage companies selling off bad mortgages thus spreading the bad debt. The derivatives market? Those were all caused by wall street companies, hence why wallstreet companies needed bailing out. You can't take away their culpability, no matter how much you want to. They played a shell game, and they almost sunk the entire world economy. That there is no getting around.

    I find fault with the banks and credit card companies only for making loans and credit too easy to access during those years. My problem is in trying to understand why anyone would charge more on a credit card than they can afford to pay back each month. Also, as I pointed out earlier, no one forced anyone to take out a loan on a house they could not afford. Many people lied about their income in order to obtain these loans and they merely walked away from these loans once the market on home values collapsed.

    The fact is that if all the individuals who took out home loans and charged freely on their credit cards had repaid these debts, there would never have been a banking crisis to begin with. I agree banks and credit card companies were too lax in their lending practices and the granting of credit card access but it was all the individuals who decided to live beyond their means who were really at fault for the economic decline of the past few years.

    Blaming the banks and Wall Street for the inability of millions of individuals to live within their income is merely attempting to place the blame on the wrong individuals, as far as I am concerned. Just because someone is willing to loan you more money than you can afford to pay back certainly doesn't mean you should take this money, if you know that you will never be able to pay it back. Every individual should be held accountable for repaying the money they borrowed. Blaming the banks and the credit card companies for the credit problems is the easy way out. Instead, we should all be placing the blame where it truly lies.
    On all those individuals who wanted to live a lifestyles they didn't deserve by taking out loans they could not repay and by living above their means by charging their lifestyle on credit cards which they knew in advance they could not truly afford.

  22. #18
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    Love how number 50 leaves out the nearly 5 trillion dollars George Bushes administration racked up during his tenure, while trying to make Obama look bad. Aren't these the very programs and deficits Bush and congress of the 90's and early 2000's put into motion. I am not giving Obama a pass just trying to keep it real. Not saying Obama is any better, but just hacking the budget by 30% would cause a depression. #50 is crap.


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