Like our NEW page on Facebook.
Click here > EducateInspireChange.org
The "coming economic collapse" has already been
happening. You see, the truth is that the economic collapse is not a
single event. It has already started, it is happening right now, and it
will accelerate during the years ahead. The statistics in this article
showvery clearly that the U.S. economy has fallen
dramatically over the past ten years or so. Unfortunately, there are lots
of mockers out there that love to mock the idea of an economic collapse even
though one is happening right in front of our eyes. They love to say
stuff like this (and I am paraphrasing): "An economic collapse is never
going to happen. We can consume far more wealth than we produce
forever. We can pile up gigantic mountains of debt forever. There is
no way that the party is over. In fact, the party is just getting
started. Woo-hoo!" That sounds absolutely ridiculous, but
"economists" and "journalists" actually write things that
reflect these kinds of sentiments every single day. They do not seem
alarmed about the fact that our national debt is nearly 17 times larger than it
was 30 years ago. They do not seem alarmed about the fact that the total
amount of debt in our country is more than 28 times larger than it was 40 years
ago. They do not seem alarmed about the fact that our economic
infrastructure is being absolutely gutted and we are steadily becoming poorer
as a nation. They just think that the magic formula of print, borrow,
spend and consume can go on indefinitely. Unfortunately, the truth is
that a massive economic disaster has already started to unfold. We
inherited the greatest economic machine in the history of the world, but we
totally wrecked it. We have been able to live far, far beyond our means
for the last couple of decades thanks to the greatest debt bubble in the
history of the planet, but now that debt bubble is getting ready to
burst. Anyone with half a brain should be able to see what is
coming. Just open your eyes and look at the facts. The following
are 40 stats that prove the U.S. economy has already been collapsing over the
past decade...
#1 According
to the World Bank, U.S. GDP accounted for 31.8
percentof all global economic activity in 2001. That
number dropped to 21.6
percent in 2011.
#2 The
United States was once ranked #1 in the world in GDP per capita. Today we
have slipped to #14.
#3 The
United States has fallen in the global economic competitiveness rankings
compiled by the World Economic Forum for
four years in a row.
#4 Since
the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.
#5 Back in
the year 2000, our trade deficit with China was 83 billion dollars.
Last year, it was 315 billion dollars.
#6 In the
year 2000, about 17 million Americans were employed in
manufacturing. Today, only about 12 million Americans are employed in
manufacturing.
#7 The
United States has lost more than 56,000 manufacturing facilities since 2001.
#8 The
United States has lost a staggering 32 percent of its manufacturing jobs since
the year 2000.
#9 Between December
2000 and December 2010, 38 percent of the manufacturing jobs in
Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were
lost and 48 percent of the manufacturing jobs in Michigan were lost.
#10 Back in
1998, the United States had 25 percent of the world’s high-tech export market
and China had just 10 percent. Today, China’s high-tech exports are more than twice the size of U.S. high-tech exports.
#11 In 2002,
the United States had a trade deficit in "advanced technology
products" of $16 billion with the rest of the world. In 2010, that
number skyrocketed to $82
billion.
#12 The
United States has lost more
than a quarter of
all of its high-tech manufacturing jobs since the year 2000.
#13 The
number of full-time workers in the United States is nearly 6 million below the old record that was set back in
2007.
#14 The
average duration of unemployment in the United States isnearly three times as long as it was back in the year
2000.
#15 Throughout
the year 2000, more than 64
percent of all
working age Americans had a job. Today, only 58.7 percent of all working age Americans have a
job.
#16 The
official unemployment rate has been at 7.5 percent or higher for 54
months in a row. That is the longest stretch in U.S.
history.
#17 The U.S.
government says that the number of Americans "not in the labor force"
rose by 17.9 million between 2000 and 2011. During
the entire decade of the 1980s, the number of Americans "not in the labor
force" rose by only 1.7 million.
#18 The
average number of hours worked per employed person per year has fallen by about 100 since the year 2000.
#19 The U.S.
economy continues to trade good
paying jobs for
low paying jobs. 60 percent of the jobs lost during the last
recession were mid-wage jobs, but 58 percent of the jobs created since then have
been low wage jobs.
#20 The U.S.
economy lost more than 220,000 small businessesduring
the recent recession.
#21 The
percentage of Americans that are self-employed has steadily declined over the past decade and is now at an
all-time low.
#22 According to economist Tim
Kane, the following is how the number of startup jobs per 1000
Americans breaks down by presidential administration...
Bush Sr.: 11.3
Clinton: 11.2
Bush Jr.: 10.8
Obama: 7.8
#23 In the
year 2000, there were only 17 million Americans on food stamps. Today,
there are more than 47 million Americans on food stamps.
#24 In the
year 2000, the ratio of social welfare benefits to salaries and wages was
approximately 21 percent.
Today, the ratio of social welfare benefits to salaries and wages is
approximately 35 percent.
#25 Since
Barack Obama entered the White House, the average price of a gallon of gasoline
in the United States has risen from $1.85 to $3.64.
#26 More
than twice as many new homes were sold in the United States in 2005 as will be sold in 2013.
#27 Right
now there are 20.2
million Americans that
spend more than half of their incomes on housing. That represents a 46
percent increase from 2001.
#28 The
price of ground beef increased by 61 percent between 2002 and 2012.
#29 According
to USA Today,
water bills have actually tripled over the past 12 years in some areas of the
country.
#30 In 1999, 64.1
percent of all
Americans were covered by employment-based health insurance. Today, only 55.1
percent are
covered by employment-based health insurance.
#31 Median
household income in the United States has
fallen for four years in a row.
#32 As I
mentioned recently, the
homeownership rate in America is now at its lowest level in
nearly 18 years.
#33 Back in
the year 2000, the mortgage delinquency rate was about 2 percent.
Today, it is nearly 10 percent.
#34 Median
household income for families with children dropped by a whopping $6,300 between 2001 and 2011.
#35 Back in
2007, about 28 percent of all working families were
considered to be among "the working poor". Today, that number
is up to 32 percent even though our politicians tell us
that the economy is supposedly recovering.
#36 According
to the Federal Reserve, the median net worth of families in the United States
declined "from $126,400 in 2007 to $77,300 in 2010".
#37 According
to the New York Times, the average debt burden for U.S. households that earn
$20,000 a year or less "more than doubled to $26,000 between 2001 and 2010".
#38 Medicare
spending increased by 138 percent between 1999 and 2010.
#39 During
Obama's first term, the federal government accumulated more debt than it did
under the first 42 U.S presidents combined.
#40 Today, more than a million public school students in the United
States are homeless. This is the first time that has ever happened in our
history. That number has risen by 57 percent since the 2006-2007 school year.
Other articles you may like:
