EconomicCollapseBlog, Sept 26, 2016
#1 When Barack Obama entered the White House, the U.S. government was 10.6 trillion dollars in debt. Today, the U.S. government is 19.5 trillion dollars in debt, and Obama still has several months to go until the end of his second term. That means that an average of more than 1.1 trillion dollars a year will be added to the national debt during his presidency. We are stealing a tremendous amount of consumption from the future to make the economy look much, much better than it otherwise would be, and we are systematically destroying the future in the process.
#2 As Obama prepares to leave office, the rate at which we are adding to the national debt is actually increasing. During the fiscal year that is just ending, the U.S. government has added another 1.36 trillion dollars to the national debt.
#3 It isn’t just the federal government that is on a massive debt binge. Total U.S. corporate debt has nearly doubled since the end of 2007.
#4 Default rates on U.S. corporate debt are the highest that they have been since the last financial crisis.
#5 Corporate profits have fallen for five quarters in a row.
#6 During the month of August, commercial bankruptcy filings were up 29 percent compared to the same period a year ago.
#7 The rate of new business formation in the United States dropped dramatically during the last recession and has hovered at that new lower level ever since.
#8 This is the weakest “economic recovery” since 1949.
#9 Barack Obama is on track to be the only president in all of U.S. history to never have a single year when the U.S. economy grew by at least 3 percent.
#10 In August, the Cass Freight Index dipped to the lowest level that we have seen since 2010. What this means is that the total amount of stuff being shipped around the country by air, by rail and by truck is really dropping, and this is a clear sign that real economic activity is slowing down in a major way.
#11 Capital expenditure growth has turned negative, and this is almost always followed by a new recession.
#12 The percentage of Americans with a full-time job has been about 48 percent since 2010. You have to go back to 1983 to find a time when full-time employment in this country was so low.
#13 The labor force participation rate peaked back in 1997 and has been steadily falling ever since.
#14 The “inactivity rate” for men in their prime working years is higher today than it was during the last recession.
#15 The United States has lost more than five million manufacturing jobs since the year 2000 even though our population has become much larger.
#16 The total number of government employees now outnumbers the total number of manufacturing employees in the United States by almost 10 million.
#17 Median incomes have fallen in more than 80 percent of the major metropolitan areas in this country since the year 2000.
#18 The rate of homeownership in the U.S. has fallen every single year while Barack Obama has been in the White House.
#19 Approximately one out of every five young adults are currently living with their parents.
#20 The auto loan debt bubble recently surpassed the one trillion dollar mark for the first time ever.
#21 Auto loan delinquencies are at the highest level since the last recession.
#22 Middle class Americans have become a minority in this nation.
#23 According to the Federal Reserve, 47 percent of all Americans could not even pay an unexpected $400 emergency room bill without borrowing the money from somewhere or selling something.
#24 The number of New Yorkers sleeping in homeless shelters just set a brand new record high, and the number of families permanently living in homeless shelters is up a whopping 60 percent over the past five years.
#25 The top 5% of households that dominate government, Corporate America, finance, the Deep State and the media have been doing extraordinarily well during the past eight years of stock market bubble and “recovery,” and so they report that the economy is doing splendidly because they’ve done splendidly.
By recklessly creating money out of thin air and pumping it into the financial markets, the Federal Reserve has greatly enriched the elite, but they have also dramatically increased the gap between the very wealthy and the rest of us.
But in the process the stage has been set for the greatest economic and financial implosion in U.S. history, and the pain that is coming is going to affect every man, woman and child in this country.
The next president is going to inherit the biggest economic problems that this nation has ever faced.
Правительство США жестоко нарушало мои права человека при проведении кампании террора, которая заставила меня покинуть свою родину и получить политическое убежище в СССР. См. книгу «Безмолвный террор — История политических гонений на семью в США» — «Silent Terror: One family’s history of political persecution in the United States» — http://arnoldlockshin.wordpress.com
Правительство США еще нарушает мои права, в течении более 12 лет отказывается от выплаты причитающейся мне пенсии по старости. Властители США воруют пенсию!! Всё это — ещё доказательство, что настоящий действующий закон в США — Закон джунглей.
ФСБ — Федеральная служба «безопасности» России — вслед за позорным, предавшим страну предшественником КГБ, выполняет приказы секретного, кровавого хозяина (boss) — американского ЦРУ (CIA). Среди таких «задач» — запретить меня выступать в СМИ и не пропускать большинства отправленных мне комментариев. А это далеко не всё…
Арнольд Локшин, политэмигрант из США