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21 Ways To End The Phrase "Americans Are So Broke..."
Submitted by Michael Snyder of The Economic Collapse blog,
Did you know that 77 million Americans have unpaid debts that are "in collections" and that Congress is actually thinking about letting post offices offer payday loans? We live in a country where almost everyone is drowning in debt and where most people are either flat broke or very close to flat broke. Years ago, "your Mama is so broke" jokes were all the rage, and at the rate we are going they could make a big comeback. Some of my favorites were "your Mama is so broke she went to McDonald's and put a milkshake on layaway" and "your Mama is so broke your family ate cereal with a fork to save milk". Unfortunately, the facts that I am about to share with you are not funny at all. In fact, they are quite sobering. Yes, things are going fairly well for the elitists that live in the good areas of New York City, Washington D.C. and San Francisco right now, but most of the country is deeply struggling as our economic fundamentals continue to crumble.
Please share these numbers with as many people as you can, because we need people to understand that there has not been an "economic recovery" for most of America. In fact, in many ways things just continue to get even worse. The following are 21 ways to end the phrase "Americans are so broke"...
1. Americans are so broke that about a third of them have debt collectors on their heels. One recent study discovered that more than one out of every three adults in the United States has an unpaid debt that is "in collections". That is a total of 77 million people. In other words, the debt collection business in America is absolutely booming.
2. Americans are so broke that Congress is now actually considering allowing post offices to provide payday loans and check cashing services.
3. Americans are so broke that they are keeping their vehicles longer than ever. The average age of vehicles on America’s roads recently set a new all-time high of 11.4 years.
4. Americans are so broke that car dealers are having to go to extreme lengths to get new customers. Last year, one out of every four auto loans in the United States was made to someone with subprime credit.
5. Americans are so broke that 52 percent of them cannot even afford the homes that they are living in right now.
6. Americans are so broke that they are falling farther behind on their student loans than ever. The total amount of student loan debt in the U.S. has now reached a whopping 1.2 trillion dollars, and approximately seven million Americans are in default on their student loans at this point.
7. Young Americans are so broke that half of all college graduates are still relying on their parents financially when they are two years out of school.
8. Young Americans are so broke that only 36 percent of American adults under the age of 35 currently own a home. That is the lowest level that has ever been recorded.
9. Americans are so broke that many of them can't even afford to shop at Wal-Mart and dollar stores anymore...
Discount stores are slowly dying.
Yesterday, Dollar Tree announced it would buy Family Dollar, a chain that is in the process of closing hundreds of stores and firing workers.
Other discount stores have been struggling as well, writes Heidi Moore at The Guardian. Fashion discounter Loehmann's filed for bankruptcy, while Wal-Mart's sales have declined for the past five quarters.
"There’s just not enough money deployed by American families to keep all the discount chains in business," Moore writes.
10. Americans are so broke that they are running up record levels of debt. Overall, U.S. households are 11.68 trillion dollars in debt right now.
11. Americans are so broke that the wealth of the "typical American household" has fallen by 36 percent over the past decade.
12. Americans are so broke that one out of every four part-time workers in America is living below the poverty line.
13. Americans are so broke that more than 37 million Americans are now being served by food pantries and soup kitchens.
14. Americans are so broke that there are 49 million Americans that are dealing with food insecurity.
15. Americans are so broke that the number of people on food stamps has increased by about 14 million while Obama has been in the White House. Ten years ago, the number of women in the U.S. that had jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin. But now the number of women in the U.S. on food stamps actually exceeds the number of women that have jobs.
16. Americans are so broke that the U.S. government has had to spend an astounding 3.7 trillion dollars on welfare programs over the past five years.
17. Americans are so broke that more than 20 percent of all children in the U.S. are living in poverty.
18. Americans are so broke that we have a record number of kids sleeping in the streets. In fact, we have more than a million public school children that are homeless at this point.
19. Americans are so broke that 76 percent of all Americans are living paycheck to paycheck.
20. Americans are so broke that 26 percent of Americans have absolutely no emergency savings whatsoever.
21. Americans are so broke that approximately two-thirds of all Americans do not have enough money saved up to cover six months of expenses if an emergency arose.
If things are this bad now, during the so-called "economic recovery", how bad will things get during the next major economic downturn?
Unfortunately, most Americans have been lulled into a false sense of security. The financial crisis of 2008 seems like ancient history to most of them now, and most people appear to believe that our leaders have "fixed" whatever was wrong the last time.
Of course that is not the case at all. In fact, our long-term problems have just continued to grow since then.
The truth is that what we are experiencing right now is about as good as things are going to get for the U.S. economy. When the next crisis arrives, all of the numbers in the list above are going to rapidly get a lot worse.
So enjoy the rest of this "bubble" while you still can. It certainly will not last for too much longer.
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Broke and its no joke.
Americans are so broke they can't afford a job.
Welcome to the real world. This is how broke rest (apart from the West) of the world always has been. Americans should learn to tighten their belts, live in multigenerational households. I see nothing wrong with young people living with their parents. I see nothing wrong with keeping your car as long as it runs well (after all it's just a box with 4 wheels which ferries you from point A to point B)
Americans are so broke they can't pay attention . . .
Americans are so broke they cant even blame the Jews for it anymore.
FORWARD!
I'm so broke, my pick-up has cinder blocks for wheels...
Americans are so broke that husbands are glad their wives have reduced the prices they charge other people for sex
Another rerun: "I'm so poor I couldn't even give you the time."
My mom use to say -
She was so poor when she was growing up - they didn't have a pot to piss in or a window to throw it out of.
I like this one from South Park - Cartman says
Your momma is so poor she was walking down the road with only one shoe on
Not because she lost one - but because she found one.
I'm so broke, I can now, at long last, sympathise with the privation that Hillary endured during her White House days.
People are so broke that their brains oozed out and they kept electing the same fucking maggots that got them into it....
...that was around 30 years ago....
Americans are so broke they cannot afford to torture human beings anymore. Americans are so broke that some politicians are calling for an end to the CIA. Americans are so broke they cannot afford to re-inflate the $1.4 Quadrillion DARK POOL derivatives universe anymore.
Americans are so broke they have dicided to kill people with drones instead of ground wars. Americans are so broke they are arming
Police Departments with Military hardware and enough bullets to
kill off the entire population with a few extra bullets left over for good measure. Americans are so broke they have decided to legalize marijuanna.
NOTE: CANADA is broke too, USA, and our beef stocks are way down and food prices and gas prices are way higher in CANADA.
OCCUPY CENTRAL PLANNING - OCCUPY EVERYTHING
The best paying new job in most towns nowadays is jury duty.
Husband discovered his wife had $250.05 hidden in her shoe - after pushing her - demanding to know where she got that much money - his worst fears were confirmed when -
She told him she was having sex with truck drivers for money - they were so poor he understood - but couldn't resist - and ask her
Who gave you the nickel?
Her answer - all of them.
I'm so broke I can't touch this.
It's the same else where
.
1. 1/3 in collections - you wanna come over here to the UK, enough said.
2. Already do it here in some here, along with western union and basically anything they can diversify into. If they even knew what bitcoin was, they'd probably sell that to, not that I'm much interested.
3. 11.4years, same here +4 years since 2008.
4. Nissian have a test track in Swindon, UK, it's full of new, probably rusting cars because no one is buying them.
5. 52%? that's low because everywhere there's a banker, homes are unaffordable. Since they know everyone needs a roof, its the perfect vehice to milk the masses over.
6. 1996 here was the last year of grants before they started charging, now since everything is in pounds, sterlin, I wouldn't be supprised if we ain't paying more for the same sh** media degree where there is no job to follow when complete and the guy teaching is only doing it because he couldn't get a job in the same field.
7. Well someone has the cars, houses, pensions - seems obvious first choice to beg for $
8. refer to Q5 answer, again bankers-rulz.
9. Yep the parking fee is way to high. When dongwong wants $1.10 for a $1 item, it's all over.
10. Americans arn't the only broke guys, really look around.
can't continue, run out of steam, money and time. fgy on t.v. ;)
Americans are so broke, when we eat cereal, we use a fork to save milk.
dam double tap. stupid fat fingers....
Americans are so broke the Dollar Tree is renaming its chain to Dollar Shrub.
Cheapest store in town in the 50's was the 5 and 10 Cent Store.
We kids called it the Five and Dime. Almost everything was under a Quarter, then crept up to 50 cents.
After all, the Fed began in 1913, and by the 1950 era they had managed only a little inflation.
Americans are so broke because $17+ trillion America owes, $12+ trillion of that total is owed by the country to it's own citizens.
And it will never get repaid!
actually CURRENT money owned to Americans is $119* trillion not 12 trillion (*growing rapidly) you missed by a factor of 10 http://www.usdebtclock.org/#
And that 119T doesn't include lots of huge not quantified liabilities like war widows and war maimed, and FRE FRM,
We're actually 10X more economically fucked than you think we are.
Unfortunately, most Americans have been lulled into a false sense of security. The financial crisis of 2008 seems like ancient history to most of them now, and most people appear to believe that our leaders have "fixed" whatever was wrong the last time.
The only people I know that have a "false sense of security" are those who are working with the government and have government benefits. But, I read a book by the name of Atlas Shrugged. I don't have an economics degree but I can see that when there is no private business to pay for the services government is rendering that one day it all goes under.
I'm looking forward to the day when the community raises it's own food, cooks it's own food, sews it's own clothes, makes it's own shoes. The globalisation has an endpoint. The USA is just in the way of that endpoint. Our standard of living will continue to be "normalized" with the third world........ there is no other way it can go.
Please anyone, CAN ANYONE explain to me how this is not the eventual outcome.
It is a plausible outcome, but at a cost - population around you in the coming self-sufficient day most likely has dropped by 80 - 90 percent.
Why don't you join an Amish community ?
I tried.............
They don't accept a divorced or remarried person. That's the rules of GOD. According to the Amish. If you divorce then you must stay divorced until death.
Americans are so broke, our idea of a 'fortune cookie' is a tortilla with a food stamp in it.
Rodney Dangerfield: "We were so poor we had a tumbleweed for a pet!"
I'm so broke - the last burglar took pity and left me a food parcel.
Haiti is having a telethon to help feed the Americans.
feed 'em to who?
Essentially believable list, but 19 and 21 don't jibe.
Good Catch Ann.
Noticed that too.
+10 to honestann for using "jibe" instead of "jive," a common misnomer, which really gets under my skin. Worse yet, the your-you're error, but, by far the worst is "chomping" at the bit. The word is "champing," so the word to the wise is to use it correctly lest you may appear an ignoramus.
But, but... I am an ignoramus!
How about "chomping at the byte"?
And my pet snake is so poor
he doesn't have a hole to hiss in.
Americans are so broke that Foreigners are buying up the property, real estate, mineral rights, and water rights.
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm ($26 Trillion foreign compared to $22 for US) (This is very interesting as Big Banks are growing strongly, but the number of total us banks is dramatically decreasing, like someone is gaming the system, Commercial Banks in the U.S. - FRED - St. Louis Fed)
And the IMF just got handed the Great Lakes. They have the sole control over the water supply now. That's been in the Chicago Tribune ( Greg Palast Interview, 2002)
Americans are so broke that they can't stop their government or fight US Lobbyist.
systematically tearing nations apart, whether it's Ecuador or Argentina... so that now IMF/WB (51% owned by US Treasury) is getting water rights from the USA in the Great Lakes Region.
This is not fun.
Americans are so broke they cut holes in their pockets to have something to play with.
I'm so broke - my life-size inflatable doll ("Trixie") upped & left me...
We are so broke that Obama can only collect $32K per head at his fundraisers.
Alice, the rabbit went that-a-way!
Americans are so broke they could only afford a half American President
Americans are so broke they have to sell debt to pay debt
Americans are so broke they have to invade foreign countries and murder people to force dollar acceptance.
Americans are so broke most govt officials keep their wealth offshore.
Americans are so broke they sell US citizenship-to Muslims
Americans are so broke the state encourages prostitution and abortion and marijuana sales
america is so broke - they give h1b visas (mostly) to tens of thousands of indians. indians are very lucky - they can afford to work for next to nothing at jobs that americans obviously aren't qualified to do. such as computer technology.
(sarcasm).
When they rub to buffalo nickels together, all they get is bufflo shit!
Americans are so poor...When you see someone kicking a can, you ask him where he's moving to.
Americans are so broke they actually think a half breed Kenyan Marxist in the White House is chnage for the better.
We grew up in a poor family. We were so poor "How poor were you?" We were so poor I was 13 before I realized my shirt size wasn't 5-10-5.
ALL THIS AND WE'RE BEING INVADED BY ILLEGAL ALIENS WHO ARE POOR, UNEDUCATED, UNSKILLED AND SOME DISEASE RIDDEN WHO WILL GO ON THE GOV'T DOLE!
WTF?? NATIONAL SUICIDE? I DIDN'T SIGN UP FOR THAT-DId YOU?
No, it's a "Fundamental Transformation" A LA Obama
Americans are so broke, but life is good inside the Beltway.
This transports me back to the 1970's ... fat chicks and mopeds; fun to ride as long as your friends don't see you, but, more importantly, this is what you can afford on a limited paycheck.
Hey, I thought I would see "solutions" here.
Yes, Americans are BROKE but each broke American is being convinced by the MSM that they, and they alone, are broke. Home flipper shows and real estate shows, Food shows and auto shows all suggest that things are just "GREAAAAAAAAAAAAAAAAAT!"
Meanwhile, OCCUPY inspired protest are occurring in YOUR neighborhood but the local media is ignoring it.
People like Bill Moyers and Jim Hightower are trying to change this and get your ear but, again, TPTB are disrupting their attempts.
People, the best solution and perhaps the ONLY solution is to get involved in groups that want to root out the corrupting influence of Money and corporate influence on the political system
Get involved in the MAYDAY PAC or Root-strikers.
There are other groups that are purporting to be working to restore American Democracy but you have to research how much of your contributions go to "ADMINISTRATION". One group, Move to Amend.org does not reveal how much of their donations go to themselves as "salary". Same with Wolf-PAC.org.
The MAYDAY PAC is 100% non-paid volunteers and Laurence Lessig is well known and has his own reputation on the line. Go to https://mayday.us/ and give what you can.
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America is so broke that Congress is thinking of changing the country's national symbol from the Bald Eagle to a cooked goose!
America is so broke that street panhandlers are complaining of a shortage of pans.
America is so broke that it has agreed to sell France to Germany.
America is so broke that Obama will limit his golf outings to 300 per year.
America is so broke that McDonalds' waitresses will also serve a "hookers". - "We do it ALL for you!"
America is so broke that protesters will be charged a fee to speak in "free speech zones."
America is so broke that now people will gladly "work for peanuts". (Have you seen the price of peanut butter lately?)
8. Young Americans are so broke that only 36 percent of American adults under the age of 35 currently own a home.
Sorry, but that's a good thing!
And of those 36 percent how many really own that home instead of the bank - clear and free?