50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

The Business Insider ^ | 6-4-2010 | Michael Snyder

[blam]

50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Michael Snyder
Jun. 4, 2010, 9:29 AM

Most Americans know that the U.S. economy is in bad shape, but what most Americans don't know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a "downturn" or a "recession". What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen.

Our greed and our debt are literally eating our economy alive. Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era. We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world. A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious.

But the truth is that you cannot defy the financial laws of the universe forever. What goes up must come down. The borrower is the servant of the lender. Cutting corners always catches up with you in the end.

Sometimes it takes cold, hard numbers for many of us to fully realize the situation that we are facing.

Click here to see the stats >

[snip]

[americanophile]

bookmark

[Jet Jaguar]

BTTT

[blam]

Key Indicators Of A New Great Depression II

[Scott from the Left Coast]

At the risk of being out on a limb: THIS is the great depression. The one in the 1930's, that will soon be relegated to being just another old historical artifact.

[Huck]

It’s morning in Moronica.

[Captain Beyond]

bflr

[Richard from IL]

Thanks for posting.

[gunsequalfreedom]

He left out corruption

[gusopol3]

you mean unions ?

[Cincinatus]

Stats 42-45 are irrelevant class-warfare factoids. Makes me wonder about the author's real agenda. The distribution of wealth isn't a problem -- except to the extent that it fosters resentment and a willingness to make class warfare. A strong economy helps everybody; a rising tide lifts all boats.

I am really fed up with this stupid class warfare.

[badgerlandjim]

bump

[raybbr]

Stats 42-45 are irrelevant class-warfare factoids. Makes me wonder about the author's real agenda.

Wow! Four facts, to you, overshadow everything else. Some people WANT to see things.

[Justa]

Lost me at: “We have nearly totally dismantled our once colossal manufacturing base

[Steamburg]

The first premise stated in the second paragraph “Our greed and our debt are literally eating our economy alive.” Shows that this ass hat is starting with a lie and it doesn’t get better. Take the government interference out of this equation and it rights itself in six months.
It is the greed of the politicians not the people who make this a sour economy. The people make it run because there are rewards for achievement until the government becomes involved.

[Notary Sojac]

Take the government interference out of this equation and it rights itself in six months.

I only wish you were right. We are dealing with the aftermath of twenty years of "economic growth" which was almost entirely based on funny money bubbles.

Take the right corrective steps, and we're looking at ten years of pain, take the wrong ones and maybe it's half a century, but there is no quick fix and if conservative candidates for office say so, they will be poisoning the future of the conservative movement.

[Frenchtown Dan]

We’ve sent most of our manufacturing overseas.

[LibLieSlayer]

We are definitely in a Depression... and we are at the start... this will be a long painful ride.

LLS

[quintr]

bookmark for later

[SampleMan]

Stats 42-45 are irrelevant class-warfare factoids.

Indeed, there is nothing that aggravates the "gap" as much as progressive taxation. As an example, assume that we decided to collect 100% of our revenue from grocery stores. Because everyone requires food and they are all taxed evenly (if not fairly), they can just adjust their prices higher. Their pre-tax income goes through the roof, and the Democrats get to demonize Big Grocery and call it a travesty of Capitalism.