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Feeling Depressed? 27 Depressing Statistics About The U.S. Economy That Will Make You Feel Even Worse

ilene's picture




 

No little pills are going to fix these problems. - Ilene at Phil's Stock World 

Courtesy of Michael Snyder: 27 Depressing Statistics About The U.S. Economy That Will Make You Feel Even Worse

depressionIf you know someone that believes that the U.S. economy is in great shape, just show that person the following statistics.  But please don't show these statistics to anyone that is feeling depressed or that has just lost a job - it might push such a person over the edge. 

The sad truth is that the U.S. economy is in the midst of a long-term decline and it is coming apart at the seams.  Right now the Obama administration and the Federal Reserve are attempting to "paper over" our economic problems with massive amounts of government debt and paper currency, but in the end it is not going to work.  When you analyze the numbers objectively, it leads to the inescapable conclusion that we are headed for another Great Depression. 

That is a very depressing thought, but there is no denying that decades of debt and incredibly bad decisions are starting to catch up with us.  The economic pain that is coming is going to be absolutely mind blowing.

It would be nice if our politicians and our business leaders suddenly started making incredibly wise decisions so that we could bring the U.S. economy in for a "soft landing", but the chance of that happening is so small that it is not even worth mentioning.

It is time for all of us to face up to the truth.  In this day and age it is really easy to get caught up in the trap of feeling depressed, but once we understand exactly how bad our problems are it can be empowering because then we can start focusing on solutions.

The following are 27 depressing statistics about the U.S. economy that are almost too crazy to believe....

#1 The Obama administration projects that the federal budget deficit will be approximately $1,600,000,000,000 this year.  Right now the Republicans and the Democrats are fighting tooth and nail over budget cuts.  The Republicans are proposing to cut the budget deficit by 3.8%.  The Democrats only want to cut it by 2.1%.

#2 The U.S. economy actually grew more between 1930 and 1940 than it did during the decade that recently ended.

#3 Over the last decade, the number of Americans without health insurance has risen from about 38 million to about 52 million.

#4 Agricultural commodities are absolutely soaring.  The price of corn has more than doubled over the last 12 months.  Considering the fact that corn is in literally thousands of our food products, that is a very frightening statistic.

#5 Between 1999 and 2009, real median household income in the United States declined by 5.0%.

#6 It is being estimated that total U.S. government debt will grow by 42 percent by the year 2015.

#7 According to the Pentagon, the cost of the first week of attacks on Libya was 600 million dollars.

#8 The average American now spends approximately 23 percent of his or her income on food and gas.

#9 According to the U.S. Energy Department, the average U.S. household will spend approximately $700 more on gasoline in 2011 than it did during 2010.

#10 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year.  Their biggest customer is the United States.

#11 According to the Economic Policy Institute, almost 25 percent of U.S. households now have zero net worth or negative net worth.  Back in 2007, that number was just 18.6 percent.

#12 China produced 19.8 percent of all the goods consumed in the world last year.  The United States only produced 19.4 percent.

#13 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.

#14 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

#15 U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market in 2005.

#16 According to RealtyTrac, one out of every 45 U.S. households was hit with a foreclosure filing in 2010.

#17 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010.

#18 New home sales in the United States set a brand new all-time record low in the month of February.

#19 Now home sales in the United States are now down 80% from the peak in July 2005.

#20 The financial condition of American families continues to deteriorate rapidly.  In 2010, one out of every eight American families had at least one family member that was unemployed.  That number was the highest it has been since the U.S. Labor Department began keeping track of that statistic back in 1994.

#21 There are now more than 6 million Americans that the government says have given up looking for work completely.

#22 According to the U.S. Bureau of Labor Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks.

#23 Americans now owe more than $900 billion on student loans, which is also an all-time record high.

#24 Average household debt in the United States has now reached a level of 136% of average household income.

#25 According to the Federal Reserve, between 2007 and 2009 median household net worth in the United States fell by 23 percent.

#26 The Federal Reserve also says that median household debt in the United States has risen to $75,600.

#27 According to a recent article posted on the website of the American Institute of Economic Research, the purchasing power of a U.S. dollar declined from $1.00 in 1913 to 4.6 cents in 2009.  Sadly, the Federal Reserve is working very hard to get rid of the little bit of purchasing power that the U.S. dollar has left. 

 

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Thu, 04/07/2011 - 06:22 | 1144531 Sathington Willougby
Sathington Willougby's picture

The S&P500 is the economy.  Nothing else.

Thu, 04/07/2011 - 11:50 | 1145509 newworldorder
newworldorder's picture

You are correct.

Thu, 04/07/2011 - 02:50 | 1144397 The Navigator
The Navigator's picture

Thanks Ilene

Being armed with some information/facts may be depressing but it also shines a light on where we should be heading, ie future trends. Corn prices doubling, arm yourself with silver (physical and in great quantity) - Americans spend 23% of income on food and gas (add another 40-50% on Fed, state, local taxes and you're left with 25% to pay rent/mortgage and all other living expenses) and you shouldn't wonder why you feel pinched each month.

The writing is on the wall, right there in front of our noses - prepare, find a different way, eat food you grow, pay off your mortgage, make money 'on the side', create your own job (don't look for someone else to sub-contract you). Rely on no one for your income, your happiness, your future - you make it or it doesn't happen.

Thu, 04/07/2011 - 04:47 | 1144461 falak pema
falak pema's picture

Maybe its time to resuscitate the Mohican tribe? They were much better than current tribe. They polluted less and ate clean : pity they didn't eat all those early white settlers. Would have saved the world a lot of trouble. Instead, they got eaten by the red coats. But never say die...all it takes is a Noah to repopulate the world...BTW what was Noah's wife's name??? He didn't do it all on his own...the Ark thing. I'm enjoying my black humor this morning. Must be 'cos the coffee ran out in my cup.

Thu, 04/07/2011 - 02:23 | 1144384 Creed
Creed's picture

OK, you folks disgust me. :)

Gloom & doom this, gloom & doom that.

All is black, nothing is white, the best to hope for is grey.

Almost everyone on this stupid thread wants to sell America & Americans short.

Y'all go right ahead & underestimate America, but make sure to hold onto your Kotex, you're gonna need it.

Thu, 04/07/2011 - 02:02 | 1144368 D.M.
D.M.'s picture

Reading these comments are the only thing keeping me sane as everyone around me is completely oblivious to the mess we are in. I really wish I was dead, fuck living like this...

Wed, 04/06/2011 - 23:10 | 1143980 newworldorder
newworldorder's picture

If you and yours have a job these statistics mean nothing to you.

If you are still on unemployment benefits and looking for work you still have hope.

If you are over 50 and layed off you have probably been out of work for an least 6 months. Your chances of finding work are diminishing daily.

If you are a white male, over 50 with no political connections or have a financial or criminal blemish on your background check, good luck with that work thing. You might as well plan an early entry into SS retirement.

Thu, 04/07/2011 - 01:00 | 1144274 TheMerryPrankster
TheMerryPrankster's picture

Yeah but on the upside, the whole world ends in December 2012.

Balanced on the biggest wave, race towards an early grave.

http://www.youtube.com/watch?v=9AggarygT2E&feature=related

Wed, 04/06/2011 - 23:00 | 1143953 FreeMoney Bernie
FreeMoney Bernie's picture

Why is it Michelle Bachman and Sarah Palin exhibit more intelligence in a horizontal position then a vertical position?

Wed, 04/06/2011 - 23:02 | 1143952 Pez
Pez's picture

We can all die of cardiac arrests and the will be a BIG + for Obummah Care.

Wed, 04/06/2011 - 23:00 | 1143951 Pez
Pez's picture

Hey, why the sad face? McDonald's is hiring 50,000 workers! and Ronald can put smiles on the sourest of pusses.

Wed, 04/06/2011 - 22:51 | 1143917 nick howdy
nick howdy's picture

Message to our elected assholes: I think you can stop "helping" us now.

Wed, 04/06/2011 - 22:10 | 1143811 nah
nah's picture

were out of credit its slave wage time

Wed, 04/06/2011 - 21:27 | 1143664 ebworthen
ebworthen's picture

 

Jesse is in fine form today as well:

"It tends to support the theory of Bernays, that the great bulk of people do not act on reason, but on their emotions which are easily controlled and influenced, and therefore subject to manipulation. I can think of no better example of this than how the Tea Party was turned away from its initial cause of financial reform and put to the task of plundering the weak, the victims of the Wall Street and governing class frauds."

http://jessescrossroadscafe.blogspot.com/2011/04/sp-500-and-ndx-futures-daily-charts_06.html

 

Wed, 04/06/2011 - 21:00 | 1143597 ebworthen
ebworthen's picture

My civil disorder meter just moved up; good thing I'm in the "country".

Those of you in the big cities better have a damn good escape plan.

Thu, 04/07/2011 - 00:52 | 1144258 TheMerryPrankster
TheMerryPrankster's picture

Solylent green is people. Cities are full of people. If you live in the boonies, you'll starve, there aren't enough people there to make it economical to make Solylent Green.

Just in case you are feeling optimistic:

http://www.hermes-press.com/collapse.htm

Wed, 04/06/2011 - 20:13 | 1143421 steadysteve
steadysteve's picture

Even the liberals I know are aware that things are messed up and are losing faith in Ocommie.

Wed, 04/06/2011 - 19:27 | 1143282 tawdzilla
tawdzilla's picture

"#11 According to the Economic Policy Institute, almost 25 percent of U.S. households now have zero net worth or negative net worth.  Back in 2007, that number was just 18.6 percent."

If this 10% annual clip holds, most of the US should be flat broke within 15 years. 

Wed, 04/06/2011 - 20:14 | 1143425 whatz that smell
whatz that smell's picture

most is a very disturbing word.

Wed, 04/06/2011 - 20:23 | 1143466 tawdzilla
tawdzilla's picture

The elites will not go broke.  Silly rabbit, Trix are for Kids.

Wed, 04/06/2011 - 19:14 | 1143255 Dirt Rat
Dirt Rat's picture

These statistics don't make me depressed at all. They just make me want to load up the trunk of my Pontiac Grand Am with Molotov cocktails and hit the streets.

/just kidding...sort of

Thu, 04/07/2011 - 00:47 | 1144246 TheMerryPrankster
TheMerryPrankster's picture

Just don't put the Molotov cocktails next to the flares when you load up your trunk. You never know when some drunk will rearend you. At some point soon, the price of gas will be so high that even Molotov Cocktails are a luxury. Anybody got a recipe for flaming crisco grease balloons?

Wed, 04/06/2011 - 18:47 | 1143171 SmittyinLA
SmittyinLA's picture

#3 Over the last decade, the number of Americans Poeple in America without health insurance has risen from about 38 million to about 52 million.

Wed, 04/06/2011 - 19:34 | 1143301 KickIce
KickIce's picture

I thought we all had health care now, or is that just the illegals?

Wed, 04/06/2011 - 21:03 | 1143607 ebworthen
ebworthen's picture

Make certain you own nothing and change rental units every 6 months.

Hit up the emergency rooms in different counties so they don't get to know you; and if it gets bad you may have to go to another state.

Wait a year or two and the hospitals, municipalities, and insurance companies will have your bills all written off and passed on to the American citizen household, especially the one's with homes or property that pay taxes (the damn fools).

Wed, 04/06/2011 - 22:17 | 1143829 James
James's picture

I live in a RV. parked at various Walmarts! Thers one every 8 miles or so.

Truck stops work good too.

Wed, 04/06/2011 - 19:26 | 1143280 ilene
ilene's picture

Are you the smitty I know?

Wed, 04/06/2011 - 18:38 | 1143130 ilene
ilene's picture

32) all those student loans and I'm working at McDonalds! 

Wed, 04/06/2011 - 19:30 | 1143293 KickIce
KickIce's picture

Yep, anymore gotta drop 100K so you can beat out the HS grad for the minimum wage job.

Wed, 04/06/2011 - 18:35 | 1143102 ilene
ilene's picture

Are we on 31 now?  Japan

Wed, 04/06/2011 - 18:31 | 1143095 John Law Lives
John Law Lives's picture

This is another interesting chart showing the percentage of citizens in each US State + Washington DC that are on Food Stamps and the percentage of citizens in each US State + Washington DC that are counted as unemployed (U-6).

This is a factor in the misery index:

http://frac.org/wp-content/uploads/2011/02/SNAPandU6.pdf

Wed, 04/06/2011 - 18:23 | 1143045 geno-econ
geno-econ's picture

Great reality list. I have a list entitled "Potential Bubbles and Mischievious Business and Government Behavior". It is up to 35 and growing. Will share on ZH, unless I get a call from CIA or Homeland Security.

Wed, 04/06/2011 - 18:28 | 1143079 rosiescenario
rosiescenario's picture

...that explains the black Ford Crown Victoria seen circling your block...

Wed, 04/06/2011 - 18:19 | 1143031 stiler
stiler's picture

Feeling repressed?

Wed, 04/06/2011 - 18:06 | 1142960 Monday1929
Monday1929's picture

Y

Wed, 04/06/2011 - 18:04 | 1142956 Shell Game
Shell Game's picture

#28.  97% of the country is in a state of denial of the first 27 facts.

Wed, 04/06/2011 - 18:01 | 1142947 falak pema
falak pema's picture

#30 More guns owned than you could put up every 'pigeon' hole in USA. (just half kidding).

Wed, 04/06/2011 - 18:44 | 1143149 OldTrooper
OldTrooper's picture

That's one of the few things that gives me hope, actually.  Hardly depressing.

Wed, 04/06/2011 - 21:21 | 1143656 Imminent Crucible
Imminent Crucible's picture

Then, too, it depends on who's stockpiled the most ammo.

Thu, 04/07/2011 - 01:09 | 1144298 FEDbuster
FEDbuster's picture

Brass and lead, the true precious metals.

Wed, 04/06/2011 - 18:00 | 1142937 PulauHantu29
PulauHantu29's picture

ANYONE who buys a depreciating item--like a house--deserves the misery they get for being an idiot.

Thu, 04/07/2011 - 03:27 | 1144421 Confused
Confused's picture

I junked you. I wouldn't even know where to begin. 

Wed, 04/06/2011 - 18:09 | 1142976 Shell Game
Shell Game's picture

"...even when it is their home, with no plans to sell."  -from The Over-Simplified World According to PulauHantu29

Wed, 04/06/2011 - 17:56 | 1142923 Rainman
Rainman's picture

Does this mean I won't get change for buying food with a 1/4 oz. American Eagle....?? Maybe so when a bag of groceries costs 400 fiatscos.

Wed, 04/06/2011 - 17:56 | 1142914 vast-dom
vast-dom's picture

just don't tell this to Ackerman.....

and it's gonna get worse folks.......

Wed, 04/06/2011 - 18:03 | 1142943 akak
akak's picture

Not to worry ---- the shell of arrogant denial in which Quackerman is encased is utterly impervious to the passage of facts.  He remains immune to the growing realization that the only thing truly deflating is his credibility on economic analysis.

Wed, 04/06/2011 - 17:56 | 1142913 lynnybee
lynnybee's picture

unfortunately, yes, I am depressed.   depressed is what I do best .......... but, I call it "reality."

Wed, 04/06/2011 - 17:51 | 1142900 mynhair
mynhair's picture

29.  No silver left at the coin dealer.

Wed, 04/06/2011 - 19:54 | 1143370 Long-John-Silver
Long-John-Silver's picture

Silver; the first element to go extinct.

Thu, 04/07/2011 - 00:57 | 1144268 medicalstudent
medicalstudent's picture

pillage the best first.

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