American Households On Foodstamps Climb To New Record

Tyler Durden's picture

Yesterday, briefly, we were confused by the eruption in the stock market following a not too bad sub-200K nonfarm payrolls number. Because we know that in the New Normal bad is always good, no matter what the well-coifed TV pundit du jour tells you. Then we remembered that yesterday is when the USDA releases its monthly Supplemental Nutrition Assistance Program data, i.e. Americans on Foodstamps.

It was here that the ramp was perfectly explained, because while the bad (for stocks of course) data was that individual foodstamps recipients rose by 170K in March - if just a whisker below all time highs - it was the number of American households on foodstamps, which rose to a new all time high of 23,116,441 (each collecting an average of $274.30 per month) that perfectly explained the Dow Jones' 200 point surge higher: the transfer of wealth from the poor and middle-classes to the 1% continues without a hiccup.

Source: SNAP

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francis_sawyer's picture

Free shit bitchez!... [Oh SNAP!]

~~~

Fucking Billy Ray Valentine [Capricorn], even had to do something if he wanted something... If he wanted a jacuzzi ~ he had to fart in the tub...

yogibear's picture

I see many immigrant parents which never paid anything living via the taxpayer in Manor Care ($75,000/yr for Americans that can pay). 

More and more immigrants ( legal and illegal) getting medicaid, Food stamps, free rent (Section 8), cell phones and welfare. These people never paid into the system.

The word is out in Easter Europe, the Middle East east, South America and Mexico. The US is giving away freebies if you want. Just come to the US, everything is free if you know how to work the system, you don't have to worry about contributing.

 

 

francis_sawyer's picture

They need the "X" on the ballot [in case the Diebold machines get sparky]...

~~~

They're especially welcome in Florida, Pennsylvania, Ohio, North Carolina, & Michigan... I'd say New York, New Jersey, & California, but the cheesepopes already have those states sewed into the lining of their clothes...

TheMerryPrankster's picture

you don't need to control who votes, when you control who they can vote for.

Voter fraud is a smokescreen to hide the fact that the candidates are prechosen and pre-corrupted before you get to vote for them.

Voting is politcal masturbation, it feels good and acomplishes nothing.

They will never take away the right to vote since it a powerful useless ritual. Why bother if you own  the elected, who cares about the electorate?

lotsoffun's picture

anybody that is waiting around doing things such as:

1 - thinking (?) (sarcasm)) considering, discussing who they are going to vote for.

2 - thinking (?) (sarcasm) waiting, picketing, demonstrating, for government to do something for them.

the list is longer - but you might as well get down on your hands and knees, because if you are  waiting for

the power that be, your god, your religion, your government to do anything for you, you will be waiting

a long time.  inthe between time, you could have been doing things for yourself and others.

it's going to be a lot of fun when people find out the bennie and bama where just playing them, but

i think that's a long way aways.  the 1% are getting really rich and richer so the game isn't going to stop.

 

francis_sawyer's picture

@MerryPrankster ~ You're correct in your POV, but you also miss the secondary [& perhaps GREATER] issue...

~~~

Sure ~ the candidates on both sides are pre-chosen... But ultimately, the 'voter' has to 'FEEL' like he/she was a part of something...

Obama & Bush BOTH should be the classic examples of all time... Whereby there still remain multitudes of folks out there who think they did the right thing (& are willing to defend that notion)...

VOTING, in the end, isn't about 'tallies'... It's about 'indoctrination'...

El Diablo Rojo's picture

+ 1 of anything non fiat or two party.

PiltdownMan's picture

Gov't gone wild!

USDA has the farm bill which is 80% food stamps. And USDA and Vilsuck are backing zero down mortgages on ... Martha's Vineyard!

Now, ain't that special!

http://confoundedinterest.wordpress.com/2013/06/08/govt-gone-wild-usdas-...

Remington IV's picture

The quid pro quo  is  they have to VOTE democrat for their freebies

Remington IV's picture

The quid pro quo  is  they have to VOTE democrat for their freebies

booboo's picture

"The word is out in Easter Europe, the Middle East east, South America and Mexico. The US is giving away freebies if you want. Just come to the US, everything is free if you know how to work the system, you don't have to worry about contributing."

1. It's not really complicated, in order to create a dollar they must first create a dollar of debt first.

2. In order for the uber wealthy to get and keep their wealth via the vig, the system must be ever expanding.

3. A psychopath will do anything to keep his station in life, up to and including cutting his own childs throat.

4. You are not one of them.

j0nx's picture

Only people with brown skin or greater can get in on this new largesse. If you are white then you are expected to work. At least that's what I see in my travels.

grgy's picture

yogibear, all those immigrants (both legal and illegal) on government assistance will end up voting democrat so this government will do nothing but encourage it. Let's just face facts, the US is fucked!

TruthInSunshine's picture

The two wise men told me (in the past 30 days) that the Big Crash was close at hand (the very same two wise men who warned me in June of 2007 of a similar crash), and every day since I read, see, hear and observe more information, data and statistics that shores up my confidence that their track record will go from a "could have been lucky" 1 for 1, to a "they know something" 2 for 2 (and remember, I've only had access to them since 2006).

Aside from all the geopolitical and domestic issues, scandals and crises, here's a short and itemized list of very recently discussed/expressed information as published in the main stream media, with each and every bullet point warranting genuine alarm in isolation, let alone taking all bullet points into consideration in the aggregate:

  • Bond funds, including those invested in "safe" long term U.S. Treasuries, were just eviscerated, with MANY who were invested in them losing 8 to 10 years worth of future interest payments, while at the same time, "safe" dividend yielding stocks got cremated (e.g. Proctor & Gamble); see ***THIS POST*** (which is a segue into why the Big UGLY is coming - which is a fork in the road whereby Central Banks are finally forced to use their tool kits to support bond markets or risk markets (i.e. equities, credit instruments, etc.) but not both [even the BoJ with a truly unlimited printing press and willingness to use it for 20+ years is now at this point]; here's a taste:

A Bond Market Plunge That Baffles the Experts By Published: June 7, 2013

As if it wasn’t bad enough for the millions of Americans scraping by on paltry interest payments, now they face another threat: the loss of principal on their bonds and other fixed-income assets.

The month of May, and this first week of June, were terrible for many fixed-income investors who have spent the last few years reaching for higher yields.

If there was an index for fixed income with the status of the Dow Jones industrial average or Standard & Poor’s 500 index for stocks, the carnage in fixed-income markets would have been a big story and we’d all be talking about a bear market in bonds.

***Consider the damage: mutual funds that invest in long-term United States Treasury bonds lost an average 6.8 percent in May, according to Morningstar, with the loss in principal wiping out years of interest payments. But that’s not the worst-hit sector. Higher-yielding bonds and fixed-income securities, to which investors have turned in droves in recent years, have suffered even more, especially mortgage-backed securities and emerging market debt, as well as just about anything that uses borrowing to increase returns.***

[Let this preceding paragraph sink in because...well...it just drives the point home as to how fantastically broken these "markets" are, and since historical reversion to the norm and basic arithmetic are so, so cruel at times.]

Many individual securities and funds were hit much harder than the averages.

High-dividend stocks, which many bond investors also looked to in their quest for income, were pummeled. Shares of Procter & Gamble dropped more than 6 percent the last week in May.

The severity of the market reaction shows how skittish investors have become about ultralow interest rates. Bond prices fall when interest rates rise, with longer-maturity, higher-yielding and riskier bonds the hardest hit — the very assets that the Federal Reserve’s ultralow interest rate policy has encouraged income-seeking investors to embrace.


  • Despite the fact that new & HIGHLY credible research showing $10,890 as the median financial net worth of an American household today (with median net worth being massively more useful and reliable a metric than "average" or "mean" net worth that sell-siders love to throw out with regularity, with said "average" net worth at any time consisting of "assets" highly subject to future decimation in value - hey, just like home prices or "stawks!"), there's a new MSM push to force the meme down the sheeples' throats that 1 million USD in savings won't be enough for retirement for most, due to repressed interest yields on "safe" assets, so stocks (which the sell-side experts are "generous to concede" are highly subject to extreme losses) have to...they just "have to"...be the way to ensure a livable retirement (despite that the stock market investing construct has done nothing but decimate the sheep who participate for as long as the Wall Street Casino has operated).  When you see the "must be in stocks to survive, if even modestly" meme pushed this hard RUN RUN RUN, bitchez: 
    For Retirees, a Million-Dollar Illusion By JEFF SOMMER 12:28 PM ET
  • These memes are being pushed so hard by a financial industy (backed by Central Bank operations) at a time when equities have been driven to batshit insane valuations (hello PCLN, TSLA, AMZN, most financials...fuck, anything on the Spooz or Russel 2000) due to STAWK BUY BACKS (where companies float debt on the cheap thanks to Bernanke to buy back shares, causing said shares to rise, while taking on massive debt - it won't matter in the long run that the money they borrowed was cheap to borrow as it's still debt and will exist when their future revenues invariably plunge).  Hey, the S&P is near a triple in 4 short years...now's the time to ignore things like fundamentals, the macroeconomic backdrop and trend, the laws of physics & arithmetic, and other historically important things, and BUY BUY BUY stocks, if you want to survive, one-day prospective retirees (whether you're 20 or 80 years old).

You are of MEDIAN NET WORTH if you have a measly 10k in fiat saved, bitchez, but if you have 1 million fiatskis saved (On a NET BASIS, EXCLUDING DEBT, OBVIOUSLY), it's still NOT GOOD ENOUGH, and YOU NEED TO RISK IT ALL AND DOUBLE DOWN ON STAWKS!!!!!!!!

There's a great Harvest coming.

TheMerryPrankster's picture

amen brother, in music you only slow the tempo so you can speed it up. In stocks you only jack the prices up so you can collapse them.

It's very apparent, they call it "the business cycle", cause the are giving you the business.

Skateboarder's picture

I am most glad to see your posts again. Thank you for the words man.

jon dough's picture

+1, Skateboarder, there are a very few - I include you in this select group -who provide actionable substance on a regular basis.

TIS gets my up vote every time.

american eyedol's picture

truth in sunshine does this mean i avoid jim cramers accidental high yielders?

GeorgeHayduke's picture

Yeah, it's about free shit. It has nothing to do with the wealthy and powerful making sure they get a bigger cut of everything while screwing everyone. It has nothing to do with a system that has become so corrupt that it's collapsing under it's own weight. Nope, it's about free shit bitches.

Keep looking inside that little box. You're sure to find the same answers there that you've always found.

TeMpTeK's picture

Every mouse trap's got free cheese.

kchrisc's picture

Welfare is NEVER about the recipient, it is always about the crime of stealing one person's production and giving it to another in exchange for their soul.

To focus on the person receiving the "benefits" and their resulting criminality and sloth is to focus on the symptom and not the cause--the criminals of government.

Just look at niggers (ignorant, subsidized and coddled black people), they could and should be more than they are as a community and a people but after 40 plus years of coddling and "free shit" they live miserable and brutish lives that will only get worse as the US implodes.

fxrxexexdxoxmx's picture

You will always lose your arguement when you resort to racism.

The welfare state will always fail. The symptoms are every where and at times on or another social group will show the effects of the disease to a greater extenet than than others. It is these early deaths that can be used to teach others how the welafare state is only death,

These teaching moments are destroyed and rendered useless when using racism.

kchrisc's picture

Like most people you should look up the word "racism."

I never mentioned superiority of race but that as a coddled group minority things have not turned out well for them.

PAWNMAN's picture

With the media applauding the transfer the entire way. One sick society we find ourselves in.

IdeasRbulletproof's picture

Hmm, food stamps go up, unemployment falling. In bizarro world, everything makes sense! USA, USA, USA...

Midasking's picture

Food Stamps are one of the quickest ways to stimulate the economy... thus it makes perfect sense. http://tinyurl.com/n8hmfya

IdeasRbulletproof's picture

So now we're blaming the rise of EBT cards for friday's market gains. Sounds legit...

Edit: apparently I have to put the "/s" for sarcasm in order for people to get it. And i thought the irony was perfectly clear...

expres12's picture

Except unemployment is falling. Unless you're talking about the worthless indicator U3.  Which is only falling due to LFPR falling and not job creation.

surf0766's picture

In Amerika, everyone on food stamp. no?

JJ McApe's picture

Our Society as a whole and the complete social structure is deteriorating. Cyprus, Greece already destroyed.

Spain youth unemployment +50%, italy 40% (just read about it), france also very high. The US is eroding from the inside out. Cheap money is keeping the house of cards intact. German elections in September... Till then things are not allowed to change.

Young people without jobs and without money and without direction are becoming the new strong force against the existing social structure. Because they realize they have no future and no money, no jobs in this society.

Things will change. It's only a matter of time this whole shit is going down.

 

GeorgeHayduke's picture

Yep. The owners are preparing everyone to be peons in the next system they are setting up for us. Meanwhile, the lesser minds will continue to blame the hapless victims of this plan for causing it. The owners win either way.

sun tzu's picture

Anyone making over $50K/yr is rich and evil, unless they belong to a union.

e-recep's picture

spot on, it is the youth unemployment that will bring everything down.

vlad335's picture

Imagine the day the EBT cards don't get replenished. The feces will hit the fan blades. The locusts will swarm. The sheep will become ravenous wolves.

Lock n load.

TheMerryPrankster's picture

Paranoia suits you. If they want to ensure chaos, they will destroy the water supplies.

you can live weeks without food but only about 3 days without water, and that last day won't be very pleasant.

j0nx's picture

I don't understand people not being able to get water. FFS it falls from the sky aplenty where I live and rivers and streams are filled with it if you have a couple hundred dollars of filtering gear. Nobody in my house is ever going to die of thirst and hopefully of hunger as long as there are squirrels and rabbits running around and soil capable of growing vegetables and fruit.

Bunga Bunga's picture

Guys, we are all prisoners in a reality trap. Reality does not matter anymore, it's a barbaric relic. Free yourself, stop trying to understand anything. Do what the big media are telling you to do. You must believe them, don't ask questions, since reality makes no sense.

TheMerryPrankster's picture

There are at least 2 realities that I am aware of. The real world that we all live in and the MSM reality, painted daily on your television,ipad or whatever apparatus you use to "watch" - it is not simply watching, it is hypno-indoctrination at a subconcious level.

I can stop any time I want you say.

You are fed bullshit 24/7 to make you want what they want you to want, to make you think what they want you to think, to make you act like they want you to act.

If you participate in their world even passively by watching/listening to their propaganda, you are their puppet.

The NSA spying is a feedback loop to ensure the programming is working, they sample you r conversations, your business transactions, your retail purchases and model it against their desired results and modify the programming to ensure maximum participation by the public.

Turn off your tv and learn to live before your days are gone and you are dust.

Kreditanstalt's picture

"the transfer of wealth from the poor and middle-classes to the 1% continues without a hiccup."

Sounds more like a transfer from the few of us still in the private sector - and everyone silly enough to try investing or saving in USD - that is subsidizing the poor...

TheMerryPrankster's picture

Step back 10 feet and see the circle within a circle within a circle.

You subsidize the poor who subsidize the rich.

Its how the stream flows they (the poor)are the conduit to make it appear as if it is not happening.

Kreditanstalt's picture

Shouldn't be subsidizing ANYONE! 

There is no difference between bailing out the TBTF banks, bailing out mortgage-holders and bailing out the unemployed.

We need a little FREE MARKET CAPITALISM.  Not because of "profit" but because of LIBERTY.

TheMerryPrankster's picture

Shouldn't be and is are 2 different things. we can argue all day about what should be, but first we must recognize what is.

We cannot change the world if we cannot see it.

There is no free trade, there is no captialism, it is all labels used to cloak insider trading techniques by the oligarchy.

its their world baby, you are just using it for a while.

Accounting101's picture

Free market captalism you say? Please can me the exact dates and data to prove this country, or any other for that matter, has ever engaged in free market capitalism. I wait with bated breath.

Kreditanstalt's picture

Did I say we ever had true free market capitalism?

That's why we need to try some...but a lot of people seem terrified of free markets.

MachoMan's picture

News flash...  free market capitalism is a notion conceived in academia...  and, interestingly enough, failed to launch...  it sat in the incubator and died...  it was never fit for the real world.

The "referee" in the free market system is ALWAYS corrupted...  ergo, free markets might exist, but only long enough to whimper...  instead, each and every trial we ever partake tends to wind around the road of self interest...  always leading to the same conclusion.

sun tzu's picture

Most of those on welfare have nothing that can be stolen. They don't work!!!

Everything they have, obamaphones, TV's, clothes, free rent, medical etc all came from the middle class. 

surf0766's picture

Alex I'll take "what are reparations for 7 trillion please."

Gringo Viejo's picture

I imagine we're just 2 or 3 years from loaves of bread being tossed into the stands at MLB games.