For this article, I want to present the following report that comes from Michael Snyder, who writes for the "Investment Watch" blog, at www.investmentwatchblog.com. It is entitled: "19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape" and takes a point by point look at how truly bad the economic outlook is in the United States at this very moment... I have that report right here for everyone to read for themselves, and as always my usual thoughts and comments to follow:
19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape
Job cuts climbed to the highest level in more than a year, as U.S.-based employers announced plans to reduce payrolls by 52,961 in May, according to a report from Challenger, Gray & Christmas.
The most eye-opening measure of how poorly the vast majority are faring these days comes from comparing the periods after the Great Recession and the Great Depression.The 90 percent, the vast majority, saw their income decline in 2012 compared with 2009, the year the Great Recession officially ended. Average annual income was down $556, or almost 2 percent, adjusted for inflation, to $30,997.But in 1936, three years after the Great Depression ended, the vast majority enjoyed 31 percent more income than in 1933. The average increase, in today’s dollars, was $2,146 per household.
Points #1 and #2 for example are absolutely true, and the failure of Radio Shack in America is just the tip of the iceberg about how bad the retail market is right now in the US... Anyone living in America only needs to just go to their local mall to see that there are almost no shoppers present, and retailers are all in danger of bankruptcy.
Point #7 brings home the disaster of the US college system right now, especially where graduates can no longer be guaranteed jobs and instead are saddled with college debt that they can never ever repay.
Point #11 is troubling.. With no proper income, most Americans can no longer to make huge purchases which of course fuels the retail business disaster that is covered in points #1 and #2.....
Same as point #12.... Retail auto markets have their newer vehicles priced to the point that most Americans can never purchase a new vehicle.... The logic would dictate that all auto manufacturers should be LOWERING their sticker prices for new vehicles, but due to their want for greed that is impossible...
Point #16 is the saddest of all.... Children should never ever be living in poverty. But the US government would rather spend money on wars and Israel than actually work on feeding the most cherished and needy part of their population.
And of course point #19 brings home the fact that America is in steep decline.. Fewer people with disposable income in a nation dependent on consumer spending to drive its economy.
One other note.... For those who are living in Canada, what is happening in the US definitely does reflect on the trends in this nation as well.... I have seen a drastic reduction in consumer spending in retail malls here as well and there are indeed many retailers that are either going bankrupt or on the verge of bankruptcy. The fact is that what happens in the US absolutely does severely affect Canada simply because our major trading partner has always been the US. I said before that when the US sneezes, Canada always catches the cold....
The bottom line is that the US economic collapse is no laughing matter, and to me those who honestly think that the US economy (and Canada's as well) is on the "road to recovery" or is in "good shape" are living in a dream world.... They need to wake the hell up to the truth and very quickly..
More to come