There are many reasons to believe that matters are bad and going to get worse. Here are 20 from The Economic Collapse:
#1 The United States has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#2 The European Commission has formally declared that Europe has now entered another recession. German banks are leveraged 32 to 1 and the European financial system is rapidly approaching a nightmare. Lehman Brothers was only leveraged 30 to 1 when it finally collapsed.
#3 There are clear signs that economic activity is also significantly slowing down in the United States. For example, new orders for goods manufactured in the United States experienced the biggest drop in three years in January.
#4 U.S. consumers are busy racking up staggering amounts of debt once again. Total consumer debt rose at an annual rate of 9.3 percent in December. It is now sitting at a grand total of 2.498 trillion dollars.
#5 The U.S. Postal Service has announced plans to eliminate 35,000 more jobs.
#6 There are more unemployed Americans than there are people living in the entire nation of Greece.
#7 The percentage of American men that have jobs is near an all-time record low.
#8 Right now, there are 88 million working age Americans that do not have jobs and that the government says are not looking for jobs.
#9 The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.
#10 In January 2009, there were 2.6 million “long-term unemployed workers” according to the federal government. Today, there are 5.6 million.
#11 The average price of a gallon of gasoline in the United States has risen by14 cents in just the past week, and the average price of a gallon of gasoline in the state of California is now an astounding $4.29. Sadly, the price of gas is expected to continue rising over the next few months.
#12 The U.S. housing market continues to struggle deeply. Home prices in the 4th quarter of 2011 were four percent lower than they were during the 4th quarter of 2010. Overall, U.S. home prices are 34 percent lower than they were back at the peak of the housing bubble.
#13 Large numbers of Americans are putting off basic health procedures due to the declining economy. Just consider the following example from a recentHuffington Post article….
Americans between the ages of 50 to 64 got 500,000 fewer colonoscopies, or screenings aimed at detecting colon cancer, during the recession, compared to the two years before, according to a recent study from researchers at the University of North Carolina’s medical school.
#14 The number of Americans on food stamps has increased by almost 50 percent since Barack Obama first took office.
#15 Right now, 48 percent of all Americans are considered to be either “low income” or “living in poverty”.
#16 The U.S. government is stealing about 150 million dollars from our children and our grandchildren every single hour of every single day.
#17 If Bill Gates gave all of his money to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.
#18 Since the Federal Reserve was created, the U.S. dollar has declined in value by more than 95 percent and the U.S. national debt has gotten more than 5000 times larger.
#19 Approximately 25 million American adults are living with their parents. Most of them are doing it for economic reasons.
#20 According to a new Politico poll, only 30 percent of all Americans believe that the next generation will be “better off economically” than the previous generation.