Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months

Tyler Durden's picture




 

And we thought last month's delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. It is unclear just which atmospheric phenomenon will get the blame for this unprecedented surge in poverty, which comes at a time when the pre-election economic data euphoria was adamant that the US economy was on an escape velocity to utopia. Instead what we do know is that in August and September, over three times as many foodstamp recipients were add to the economy as jobs (324,000). We also know that with the imminent impact of Sandy, which will send foodstamp recipients soaring, it is now looking quite possible that the US may end 2012 with just over a mindboggling 50 million Americans living in absolute poverty and collecting the $134.29 average monthly benefit per person, instead of working. Welcome to the recovery indeed.

Individual Americans on foodstamps:

Foodstamps at the household level rose to a record 24 million:

Aggregating foodstamp, disability and nonfarm payrolls data shows that since the start of the Depression in December 2007, 21.8 million Americans have shifted more or less permanently to the entitlement line, even as the US still has to generate 4.4 million jobs just to break even.

And the same shown on a monthly basis:

Source: SNAP

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Sun, 12/09/2012 - 23:51 | 3047831 Yen Cross
Yen Cross's picture

Lots of Sandy RATS looking for a new home /

Mon, 12/10/2012 - 00:05 | 3047860 petolo
petolo's picture

NEXT..........Ration Stamps 

Mon, 12/10/2012 - 02:05 | 3047897 Yen Cross
Yen Cross's picture

Manhattan Rat souffle... BYOB   ( Bring your own bankster)... ;-}

  I'm mental/   Quentin Tarantino flix keep popping into my mind/ go figure

Mon, 12/10/2012 - 10:53 | 3048439 foodstampbarry
foodstampbarry's picture

Go buy a flat screen and a pack of menthols. KFC has a good deal going on also.

Sun, 12/09/2012 - 23:48 | 3047819 reader2010
reader2010's picture

The money that they spend on your food stamps is peanuts compared to the money they spend on the corporate food stamps.

Mon, 12/10/2012 - 00:36 | 3047915 tmosley
tmosley's picture

Especially given that the entire food stamp program is a JPMorgan subsidy.

Mon, 12/10/2012 - 00:45 | 3047938 toomanyfakecons...
toomanyfakeconservatives's picture

JPM... the company that profited off WWI before anyone knew what modern day war profiteering was.

Sun, 12/09/2012 - 23:50 | 3047822 Miffed Microbio...
Miffed Microbiologist's picture

I was contemplating who was going to pay for all this when I unfortunately noticed my reflection in the window. Oh what a good time to be a wage slave.

Miffed:-)

Sun, 12/09/2012 - 23:50 | 3047824 yellowsub
yellowsub's picture

That's 1 million more people contributing to the economy again!

Sun, 12/09/2012 - 23:56 | 3047827 Dr. Engali
Dr. Engali's picture

The sad thing is that even though the system is designed to hide the soup lines they are still starting to form because people are running out of food stamps. I can't believe some of the lines I'm seeing at the help shelters lately. It's really pretty disturbing.

Mon, 12/10/2012 - 00:11 | 3047874 DavosSherman
DavosSherman's picture

Nice of you to volunteer.  Interesting reading your comment.  Thank you.

Mon, 12/10/2012 - 01:16 | 3047961 Dr. Engali
Dr. Engali's picture

I live in a city of about 35,000 people so chances are pretty good that if your semi involved in the community you are going to run into somebody you know. I bring this up because I see people I would never have expected to see in the food lines waiting for whatever assistance they can get.

Mon, 12/10/2012 - 01:22 | 3047986 newengland
newengland's picture

Yes. Weird that anyone would junk his/her comment...unless they were a government PR, unhappy that truth leaks out.

'davossherman's comments are usually rational ZH. I guess it's upsetting for PRs to see s/he has a heart.

Mon, 12/10/2012 - 08:22 | 3048192 DavosSherman
DavosSherman's picture

Thanks NewEngland.  It's the ilene bullshit.  Probably that fucking skank, Orly, LadyEconomist or some other clueless troll that I had to clue in on the fact that economicially they were clueless fucking morons.

Mon, 12/10/2012 - 00:31 | 3047892 newengland
newengland's picture

Dr. Engali,

We see that too here in my part of the world, and I'm reminded of my mother's advice: charity begins at home. Genuine community gives time. There is never enough money.

Wall St owns Washington: they both take most and give least...because they are 'worth it' in their minds, with their celebrity freak pals.

There are record numbers of people turning up at pantries here because no government assistance programme can feed their family sufficiently after so very long unemployed or working fewer paid hours due to the ongoing depression which the elites and their media deny exists.

And I live in a place with one of the lowest official unemployment rates in the USA.

Mon, 12/10/2012 - 00:40 | 3047924 DaveyJones
DaveyJones's picture

been noticing and thinking the same. probably not a good sign eh?

Sun, 12/09/2012 - 23:55 | 3047839 tooriskytoinvest
tooriskytoinvest's picture

Impending Stock Market Crash: Time Is Short, Too Many Problems To Solve. The Fiscal Cliff Negotiations Are Failing. If US Can’t Avert Fiscal Cliff, Everything Will Collapse!

http://investmentwatchblog.com/impending-stock-market-crash-time-is-short-too-many-problems-to-solve-the-fiscal-cliff-negotiations-are-failing-if-us-cant-avert-fiscal-cliff-everything-will-collapse/

Mon, 12/10/2012 - 00:11 | 3047872 DavosSherman
DavosSherman's picture

The "fiscal cliff" means shit.  A Moron Bernanke coined POS term.

They won't do shit, Bernanke will continue to print, these fucking dickless assholes will continue to spend more than they take in with revenues.

The states is where your eyes should be.  They can't print, they have to balance, revenues will dip and they'll tax you up the ass.

Sun, 12/09/2012 - 23:57 | 3047843 monopoly
monopoly's picture

We have our own 1930s style soup lines. But now it is all done electronically. Just swipe the card and off you go. Absurd.

Mon, 12/10/2012 - 00:08 | 3047864 DavosSherman
DavosSherman's picture

So the fucking dickless asshole bankster morons like JPM Chase can profit off the disaster they made and you and I paid for.

Sipe the JPM Chase issued Obummer ebt card and Jamie Dickless Asshole profits.

Who is your White House Chief of Staff???

Mon, 12/10/2012 - 11:02 | 3048473 Everybodys All ...
Everybodys All American's picture

Could you imagine the optics if they didn't have the EBT card? No way in hell would Obama have been re-elected.

Sun, 12/09/2012 - 23:58 | 3047850 Bansters-in-my-...
Bansters-in-my- feces's picture

"Chow,chow...chow......

Love my wiskis.

Mon, 12/10/2012 - 00:03 | 3047857 booboo
booboo's picture

The Government will give  you a fish before it will allow you catch one, has anyone been paying attention to the new fish and game regulations. Fucking government does not want you to be self sufficient. They promote dependency. 

 

Mon, 12/10/2012 - 00:07 | 3047865 magpie
magpie's picture

...but the more you have to deliver, the more broken promises there will be.

Mon, 12/10/2012 - 00:35 | 3047862 DavosSherman
DavosSherman's picture

We ain't seen nothin yet...

Just wait to the "dawler" goes.

This shit is totally fucked, that is all there is to it.

Part II: A fucking dawler crises of BIBLICAL proportions!

Want to end up like Job and suffer, read ilene verse redux http://www.zerohedge.com/contributed/2012-12-07/hidden-dangers-gold#comm...

 

Unemployment is 22.8 percent.

From Jim Quinn's the Burning Platform:

 

  • There are 16.9 million 16 to 19 year olds and 4.3 million of them are employed. That means 75% of them are NOT EMPLOYED.
  • There are 21.9 million 20 to 24 year olds and 13.5 million of them are employed. That means 38% of them are NOT EMPLOYED.

No matter how the BLS spins the data, the truth is that the youth unemployment rate in the United States of America is 54%.

Some more facts:

38 million earn less than $10,000 per year

50 million earn less that $15,000

61 million earn less than $20,000 annually

Simply put: 100 million wage earners, or 2/3 the entire workforce, earn less
than $40,000 per year.

There are roughly 127 million people dependent on government transfers: 61
million recipients of Social Security and Medicare

Medicaid for the 11 million people drawing lifetime SSI Social Security
disability

66 million people receiving welfare (SNAP food stamps, housing credits,
Medicaid, etc.)

Mon, 12/10/2012 - 01:13 | 3047979 newengland
newengland's picture

The $ amount only makes U.S. citizens poor if the cost of living is much greater. What is that cost of living crushing many families? It is the cost of food, fuel, 'health' insurance, car insurance,  tax and government. It is the cost of government paid most by biggest banks, Wall St, insurance companies, and the pharmaceutical industry  - all the construct of the shadow world government Trilateral Commission.

Fake prosperity lured people into the debt maker's trap. They are global marauders, and every country will suffer. This too shall pass.

Stay close to home. Defend the person stood next to you.

'Do You Hear What I Hear?' A Christmas carol.

Mon, 12/10/2012 - 10:29 | 3048389 blunderdog
blunderdog's picture

It's housing.  The increase in fuel-prices is rough, but food and insurances haven't changed enough.

What happened is the RE bubble drove housing costs in the stratosphere, and now that wages have started correcting and the Feds can't permit housing to correct, everyone's pretty much fucked under impossible rents/mortgages.

Mon, 12/10/2012 - 00:13 | 3047870 newengland
newengland's picture

Loadsamoney for the issuer of food stamps: JP Morgue.

No wonder Obama puts a dog on his 'holiday card'. 

'Here, boy. C'mon. There's a good boy, Obama.  Mush.'

Endless holiday for the debt issuers. The House slave is no different than the field slave, except the modern House slave gets paid more to betray his wife's kith and kin.

Mon, 12/10/2012 - 00:12 | 3047875 sbenard
sbenard's picture

Meanwhile the WSJ has a headline tonight that consumer spending is weakening. These two stories are not coincidental!
But wasn't it Nazi Pelosi that assured us that more welfare was a great way to create jobs?

Mon, 12/10/2012 - 00:17 | 3047882 newengland
newengland's picture

Tsk. Pelosi. The broad fraud from a bankrupt state of fools and chancers. The whore of Wall St.

Mon, 12/10/2012 - 00:39 | 3047921 Yen Cross
Yen Cross's picture

It's my turn to upvote you/ That was a really good post!

Mon, 12/10/2012 - 00:53 | 3047947 newengland
newengland's picture

And it is always my turn to admire 'yen cross' and his family :-) I know that you will come home to us, one day. Keep safe, meanwhile. Happy trading.

Mon, 12/10/2012 - 01:06 | 3047963 Yen Cross
Yen Cross's picture

I'm home.  I like my neighbors, and I'm looking forward to the New Year/

Mon, 12/10/2012 - 01:11 | 3047980 newengland
newengland's picture

Good :-)

Mon, 12/10/2012 - 00:12 | 3047876 Tom Green Swedish
Tom Green Swedish's picture

A business that makes nothing but money is a poor business.

 

Henry Ford

Mon, 12/10/2012 - 00:43 | 3047932 Id fight Gandhi
Id fight Gandhi's picture

He was wise. It's controversial but his publications of the international ... are worth the read.

Mon, 12/10/2012 - 01:44 | 3048004 newengland
newengland's picture

Ford also warned that if people understood modern money manipulators, then there would be a revolution by morning. The shadow world government of the Trilateral Commission are new to the USA.

They are  hateful money lovers and warmongers. They are Talmudists, fake jews, and old monarchists.

Ford warned that money revealed the nature of the person wielding it, whether they be 'selfish, arrogant, greedy.'  Or not. “The Money doesn't change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that's all.”Money doesn't change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that's all.”“Money doesn't change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that's all.”“Money doesn't change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that's all.”

Mon, 12/10/2012 - 03:59 | 3048018 Yen Cross
Yen Cross's picture

F has some smart financial people, and some luck going for it/  Ford had secured financing just before the 2007 meltdown.

  Ford was never bailed out, and had [auto•nomy] with it's share holders/ Ford  could do better/

Mon, 12/10/2012 - 11:46 | 3048615 WillyGroper
WillyGroper's picture

Read a book review on AMZN yesterday on Ford's collected essays. The reviewer had an original & went to the library to view their copy. Not only was she escorted, observed and ask why she wanted to read it, upon a stare & compare the book had been edited. Wonder why?

Mon, 12/10/2012 - 00:12 | 3047877 brown_hornet
brown_hornet's picture

Goldi-

Tennessee Ernie Ford version much better...No disrespect to JC.

Mon, 12/10/2012 - 00:24 | 3047896 Goldilocks
Goldilocks's picture

Tennessee Ernie Ford Sings 16 Tons
http://www.youtube.com/watch?v=Joo90ZWrUkU (3:04)

Mon, 12/10/2012 - 00:26 | 3047900 Glass Seagull
Glass Seagull's picture

Thanks for using the "D" word...much more fitting.

Mon, 12/10/2012 - 00:33 | 3047908 chump666
chump666's picture

"We do what we have to do. Others bury their heads between the swollen teats of indulgence and gratification, piglets squirming beneath a sow for shelter... But there is no shelter... And the future is bearing down like an express train."
~Rorschach, pg. 26 (Chapter/Issue 2)

Summed up by Alan Moore. 

 

Mon, 12/10/2012 - 00:44 | 3047936 Yen Cross
Yen Cross's picture

 You are not crazy chump666    

    Watch the DAX melt down this week/  ASX200 will get toasted also/   metals will spike/ $ will spike/

  The hedgefund [ROACH] Motel will turn on the " vacancy light"...

Mon, 12/10/2012 - 00:49 | 3047945 chump666
chump666's picture

I agree, but...we will need Asia to slam hard, it's overbought as is Europe, ASX200 is a nice short.  I need the DXY to show a bullish move, so far 50/50.  The market tried to correct in Nov, but was underwritten by HFTs which kept a check on volatility.  But hey this is market chatter between dirty traders...

America going down the toilet is tragic, f*cking tragic...

Mon, 12/10/2012 - 01:02 | 3047969 Yen Cross
Yen Cross's picture

DXY did a head fake on Friday.  The overall trend is long. That daily candle was puzzling,  shooting starish. The trend is up/

Look at the weekly spinning top?

Mon, 12/10/2012 - 00:48 | 3047934 dust to dust
dust to dust's picture

 Happy Holliday Season on $134.29.  Maybe we can invite the extended family. No need to bring gifts our Goverment has already provided. 

Mon, 12/10/2012 - 00:44 | 3047937 holdbuysell
holdbuysell's picture

In other news, JPM is reporting record profits on surging EBT card issuance and servicing. /sarc

Mon, 12/10/2012 - 00:46 | 3047940 AgShaman
AgShaman's picture

If you forced 48 "meal-ion" amerikwans to wear around a bird beak to show their solidarity at being fed by their govt masters...

how many more would like to join their ranks?

I'm thinking this nightmare is more of a dream for the kamikaze's steering this american experiment.

The Ministry of Plenty is poised to cradle their children in the bosom of ____________________________ (insert favorite)

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