To those still foolish enough (or delusionally optimistic) to believe that our economy has turned the corner and is headed back to pre-2008 days, turn off your TVs and cancel whatever newspapers you are reading. It just ain’t happening and it isn’t about to begin!
The post below describes the situation thusly (my emboldening):
we are now witnessing are the early stages of the complete and total breakdown of the U.S. economic system. The U.S. government, state governments, local governments, businesses and American consumers have collectively piled up debt that is equivalent to approximately 360 percent of GDP. At no point during the Great Depression (or at any other time during our history) did we ever come close to such a figure. We have piled up the biggest mountain of debt that the world has ever seen, and now that gigantic debt bubble is beginning to pop. As this house of cards comes crashing down, the economic pain is going to become almost unimaginable.
Regular readers of this blog know I am in agreement with this assessment and have been for more than a year. For those who disagree, read the following article. It is scary, so read it at ground level, away from sharp objects.
There is more financial data that could have been included that would further buttress the conclusions below. However, there is likely enough there to make you a believer if you are not already. When you finish, you might consider what steps you can take to protect yourself and your family.
I am unfamiliar with the blogsite, but everything appears to be well-documented. (I have not checked each of the links.)
40 Bizarre Statistics That Reveal The Horrifying Truth About The Collapse Of The U.S. Economy
Most Americans still appear to be operating under the delusion that the “recession” will soon pass and that things will get back to “normal” very soon. Unfortunately, that is not anywhere close to the truth. What