Why the US is in an invisible Depression

[MissJ]

How many Americans on food stamps own an iPhone?

my off the cuff guess would be at least 25%

I am a poker player, weekends only because I have a real job.

Recently, I was playing a tournament with a girl in her mid twenties who was constantly on her iPhone (I have an iPhone too.....) and she was bragging how she cannot wait to bust out of the tournament so she can go play $10/20 Omaha (which is a game that you should buy into for no less than $300). then she is BRAGGING how she is on unemployment and food stamps and she brags in such a way that she expects people will think she is clever....probably because in the past she has gotten accolades for just such behavior....

and I'm thinking: "I paid over $2,000 in taxes alone last month....."

 

[Burt Gummer]

Speaking of raising taxes on the slaves as a solution ....

Show This To Anyone That Believes That Taxes Are Too Low


15. The United States is the only nation on the planet that tries to tax citizens on what they earn in foreign countries. >> this is because we are corporate assets, common stock - you can't just leave .... our owners always want their cut.

 

[ATCclears]

Mish's Global Economic Trend Analysis: Exit Strategy? What Exit Strategy?

 

[mckenzb]

My old philosophy professor, a libertarian, used to remind us that we cannot survive by doing each other's laundry. In realistic terms, that is what a "service" economy is. In order to fuel an economy, someone somewhere has to take something out of the ground, make it into a product that didn't previously exist, and sell it at a profit. Selling information to each other doesn't qualify. Making furniture out of trees, or making cars out of iron ore, aluminum ore, and plastic does. How much of the latter is America doing these days? Almost none. That's why there are no livable wage jobs for high school graduates.

The Right is fond of saying that small business is our greatest job creator, but small business typically doesn't manufacture things. Small businesses typically sell services. Such businesses typically offer less than full time jobs, paying minimum wage, with no benefits and no future.

A service based economy can exist only upon the foundation provided by manufacturing businesses. The US has no such manufacturing foundation any more. All that went to China, India, and Mexico long ago. The dollar has been devalued in relation to actual commodities (inflation) to the point where we are becoming cost competitive in the labor market with Japan. Things won't turn around employment-wise until we're cost competitive with China, India, and Mexico where the bulk of manufacturing is going on now. What does that future look like for American manufacturing workers? Take a look at lifestyles in those three countries.

This is where unregulated capitalism always takes us, and we never learn the lesson.

I agree with 99% of what you wrote about except your final sentence. We (America) are an extremely regulated capitalist society. Which is why you've been seeing the vast majority of our manufacturing jobs going overseas. The American people refuse to pay high prices for their goods, and the only way for corporations to accommodate this is to ship manufacturing over seas where they don't fight the bullbubblegum over protective government agencies that are trying to justify their high paying jobs by screwing with companies trying to provide an inexpensive service.

But in my opinion that's only half of our countries problem. The other half are the unions in the country are more powerful than the companies that employ the union labor. Normally they'd just disappear because they'd be pricing them self out of the market, but our ridiculous liberal government has created mass big scale government jobs in the past 4 years feeding their greedy little mouths. Unions have driven the wages up so high in most trades that it destroys the ability to create more employment.

Enough of my rant, let me leave with this: It'll be a sad day when these dipbubblegums on capitol hill try sending someone to pick up my firearms. I'm legitimately scared about the direction this government is taking us. After (If) they take our guns, how exactly are we suppose to keep them fearful of bubblegumting on us even more.

Brian

 

[knuckle Head]

You know I thought indentured servitude was outlawed in the U.S.

So if it was, what is this U.S. National Debt Clock : Real Time

If this is not indentured servitude then what is it, I have to work to pay this off like most on here and it keeps getting deeper and deeper, kind like the old coal miners who worked in the coal mine all day, rented a shack from the coal mine, bought coal from the mine to cook and heat their homes with, boguht their from the coal mine store and at the end month were deeper in dept than they the month before.

My question is, how much longer are the miners going to tolerate it, when the coal miners in the southeast decide it was enough it was not a pretty picture.

 

[HBIII]

You know I thought indentured servitude was outlawed in the U.S.

So if it was, what is this U.S. National Debt Clock : Real Time

If this is not indentured servitude then what is it, I have to work to pay this off like most on here and it keeps getting deeper and deeper, kind like the old coal miners who worked in the coal mine all day, rented a shack from the coal mine, bought coal from the mine to cook and heat their homes with, boguht their from the coal mine store and at the end month were deeper in dept than they the month before.

My question is, how much longer are the miners going to tolerate it, when the coal miners in the southeast decide it was enough it was not a pretty picture.

I totally agree with you in principle. Thing is, there is no serious repercussions for going further into debt. Worst case scenario you declare bankruptcy which boils down to hitting the financial equivalent of the reset button and you get to start over. All the while you keep a roof over your head, heat or A/C going, and probably the newest iPhone in your pocket. What is there to really complain about right now?

panem et circenses my friend

 

[knuckle Head]

Yeah but just how much longer will this go on, before it comes to a head. 2013 i doubt it, 2014 nah still a little too soon, 2015 HMMMMMM don't know know depends what happens in 2013 & 2014 2016 or 2017 could be, Before 2018 darn good chance. Before 2020 I would put money on it for sure, for sure

 

[HBIII]

Unfortunately, I agree with you on the approximate timeline. Though I really hope we are wrong.

 

[Burt Gummer]

Say Goodbye To The Good Life

Right now, things are still relatively good in America. Yes, there are a whole host of economic numbers that look really bad, but what we are experiencing right now is nothing compared to the horrific economic pain that is coming.

When our economy finally crashes, nobody is going to be able to press a button and restore things to how they were previously. We will be told that we have to "adjust" and consider "new solutions" to our "new challenges". Someday we will look back on the good life that we were enjoying in 2010, 2011 and 2012 and wish that we could go back to those days.

So enjoy the relative peacefulness and prosperity of these times while you still can. A horrific economic collapse is on the way, and once it strikes none of our lives will ever be the same.

 

[EZLivin]

Timelines. Here are some from my notes:

July/August 2013 - beginning of next appreciation phase for non-gov assets (metals, collectibles, and stocks). This phase of cycle runs 2013 thru 2016.
2014 - Civil unrest cycle begins, fueled by government employee layoffs.
2016-2020 - Global economy unable to be patched together any longer. Global economy, and many governments, fail. New international trade currency introduced.
2025-2030 - Crisis phase ends, rebuilding phase begins.

Those notes are a few of the main points I put together based on different cycle models others have done (Armstrong, H&S, others). When I factor in the work of John Williams, Celente, and numerous others I am appalled that people are still oblivious to the situation. The data is there, the likely outcomes are as close to set in stone as anything can be, yet people are still mostly oblivious. Sad.

 

[Burt Gummer]

That is as good a timeline as any because no one knows except the Oligarchs themselves.

In the short term, meaning 1-3 years, I see false flags galore and propaganda starting wide spread fear, draconian laws, and even more atrocities against innocents abroad AND here. The people in the center of the hurricane will no longer be safe.

Our inflated standard of living will continue to sink into the abyss. (Boiling Frog). The sheep will look to mommy gov for salvation and handouts (gun control and cheese). Within three years if you are a 'gun lover' you will be placed in the same category as a racist, bigot, or simply 'mentally ill.'

The future is going to be bad, but the here and now isn't so bad - so enjoy it while it lasts.

http://www.thedailysheeple.com/is-it-too-late-to-start-prepping_122012

 

[knuckle Head]

But, But Burt, Don't be so negative dude..........

Oh wait, you are not the only person seeing things this way.

<broken link removed>

All of this wouldn't have anything to do with the out of control DC waste, fraud, abuse The indentured servitude we have been put into with each tax payer now being $143,735.00 in debt, yeah since I looked at this two days ago the num nuts in DC have put me $39.00 further in debt, just two days ago it was $142,696.00 per tax payer. U.S. National Debt Clock : Real Time lets see $29.00 in two days 39 /2 = 19.5 x 365 = $7,117.5

So not matter what I do this year I will go a minimum of another $7k in debt thanks to the num nuts in DC, I feel like a W.VA or KY coal miner in the 1930's

 

[ATCclears]

Fed gov to hit borrowing limit by Monday

http://online.wsj.com/public/resources/documents/Geithner12262012.pdf

 

[knuckle Head]

Oh I am sure the embysols in DC (Demwitt Campus) will kick the can down the road again and raise the debt limit another $2 or $3 trillion, and then in a few weeks we will hear that the bloodsuckers and the fed. banks have increased the printing of $100.00 bills again.

Just remeber they have our best interest at heart,

 

[Burt Gummer]

Amazing statistic - leeches now outnumbers private sector jobs in 11 states. Geezus, this is getting crazier by the day.

In California, there are 139 "takers" for every 100 private sector workers. Think about that for a minute. Parasites actually outnumber workers.

The whole Fiscal Cliff thing is a sad joke. They'll just borrow more and more. If every one of us paid a 100% tax rate starting tomorrow it would take 22 years to pay off the CURRENT debt.

Lost cause. We are at the bottom of the global economic totem pole.

The stage actors - the politicians - are just putting on a show to pretend they are 'doing something.'

Government Dependents Outnumber Those With Private Sector Jobs In 11 U.S. States

 

[knuckle Head]

View attachment 51128

Amazing statistic - leeches now outnumbers private sector jobs in 11 states. Geezus, this is getting crazier by the day.

In California, there are 139 "takers" for every 100 private sector workers. Think about that for a minute. Parasites actually outnumber workers.

The whole Fiscal Cliff thing is a sad joke. They'll just borrow more and more. If every one of us paid a 100% tax rate starting tomorrow it would take 22 years to pay off the CURRENT debt.

Lost cause. We are at the bottom of the global economic totem pole.

The stage actors - the politicians - are just putting on a show to pretend they are 'doing something.'

Government Dependents Outnumber Those With Private Sector Jobs In 11 U.S. States

I was so shocked I actually laughed at the first statistic, this is crazy

 

[knuckle Head]

Well if we are not In a silent Depression, I am sure this will help shove us into one.

Americans for Tax Reform : $1 Trillion Obamacare Tax Hike Hitting on Jan. 1

Obama Orders Pay Raise for Biden, Members of Congress, Federal Workers | The Weekly Standard

 

[knuckle Head]

But then again maybe we are in a Silent Depression,

<broken link removed>

 

[Father of four]

Probably will not be a silent or invisible Depression in a couple of days.

 

[ATCclears]

This isn't my quote, but it's a keeper:

"Witnessing Republicans and Democrats bicker over the U.S. debt is like watching two drunks argue over a bar bill on the Titanic."