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Gallup CEO Blasts US Leadership "The Economy Is Not Coming Back"

Tyler Durden's picture




 

Authored by Jim Clifton, Gallup CEO & Chairman,

The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.

We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.

The U.S. Census Bureau reports that the total number of new business startups and business closures per year -- the birth and death rates of American companies -- have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.

You may not have seen this graph before.

Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.

Net Number of New U.S. Firms Plummets

Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.

Net Number of New U.S. Firms Plummets

My hunch is that no one talks about the birth and death rates of American business because Wall Street and the White House, no matter which party occupies the latter, are two gigantic institutions of persuasion. The White House needs to keep you in the game because their political party needs your vote. Wall Street needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, "The economy is coming back."

Let's get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses.

Dead-Wrong Thinking

It is catastrophic to be dead wrong on the biggest issue of the last 50 years -- the issue of where jobs come from. Our leadership keeps thinking that the answer to economic growth and ultimately job creation is more innovation, and we continue to invest billions in it. But an innovation is worthless until an entrepreneur creates a business model for it and turns that innovative idea in something customers will buy. Yet current thinking tells us we're on the right track and don't need different strategies, so we continue marching down the path of national decline, believing innovation will save us.

I don't want to sound like a doomsayer, but when small and medium-sized businesses are dying faster than they're being born, so is free enterprise. And when free enterprise dies, America dies with it.

Let's run some numbers. You will often hear from otherwise credible sources that there are 26 million businesses in America. This is misleading; 20 million of these reported "businesses" are inactive companies that have no sales, profits, customers or workers. The only number that is useful and instructive is the number of current operating businesses with one or more employees.

There are only 6 million businesses in the United States with one or more employees. Of those, 3.8 million have four or fewer employees -- mom and pop shops owned by people who aren't building a business as much as they are building a life. And God bless them all. That is what America is for. We need every single one of them.

Next, there are about a million companies with five to nine employees, 600,000 businesses with 10 to 19 employees, and 500,000 companies with 20 to 99 employees. There are 90,000 businesses with 100 to 499 employees. And there are just 18,000 with 500 employees or more, and that figure includes about a thousand companies with 10,000 employees or more. Altogether, that is America, Inc.

Let me be very clear. America, Inc. is far more important to America's security than our military. Because without the former prospering -- and solvent -- there is no latter. We have enormous military power only because of a growing economy that has, so far, made it possible for the government to pay its bills. When former Chairman of the Joint Chiefs of Staff, Adm. Mike Mullen, was asked in a Senate hearing on June 28, 2011, to name the biggest current threat to the security of the United States, he didn't say al-Qaida. He didn't say Iran's nuclear capabilities. He answered, "I believe our debt is the greatest threat to our national security."

Declining Businesses Mean Declining Revenues for Social Spending

Keep in mind that these 6 million businesses, especially small and medium-sized ones, provide jobs for more than 100 million Americans and much of the tax base for everything. These small, medium and big businesses have generated the biggest economy in the world, which has allowed the country to afford lavish military and social spending and entitlements. And we've been able to afford all of this because, until now, we've dominated the world economy.

When new businesses aren't being born, the free enterprise system and jobs decline. And without a growing free enterprise system, without a growing entrepreneurial economy, there are no new good jobs. That means declining revenues and smaller salaries to tax, followed by declining aid for the elderly and poor and declining funding for the military, for education, for infrastructure -- declining revenues for everything.

America has maintained the biggest tax coffers in the world because its 300+ million citizens have produced and owned one-quarter of virtually all global wealth. The United States clobbered everyone in the battle of free enterprise, in the battle of business building, and in the battle of inventing the future. Until recently, America had blown the world away in terms of economic success. We are now quickly losing that edge, and everything we're trying to do to fix the problem is dead wrong.

Here's why: Entrepreneurship is not systematically built into our culture the way innovation or intellectual development is. You might say, "Well, I see a lot of entrepreneurial activity in the country." Yes, that's true, but entrepreneurship is now in decline for the first time since the U.S. government started measuring it.

The whole country and subsequently the world are having their own dead-wrong moment, and it is causing America and the whole world to make everything worse. And people know it, though they may not know why. When Gallup asked Americans to rate how much they personally worry about particular problems facing the country, the top three issues that respondents worry about a "great deal" were the economy (59%), federal spending and the budget deficit (58%), and the availability and affordability of healthcare (57%).

The more we execute on our leadership's erroneous belief in innovation, the more our engine stalls out -- and the more people rightly worry about economic issues.

Because we have misdiagnosed the cause and effect of economic growth, we have misdiagnosed the cause and effect of job creation. To get back on track, we need to quit pinning everything on innovation, and we need to start focusing on the almighty entrepreneurs and business builders. And that means we have to find them.

 

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Wed, 01/14/2015 - 13:07 | 5660469 kliguy38
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he seems a little harsh....didn't he get the memmo........."ALL IS GOOD"  now back to the CNBS money honey shills

Wed, 01/14/2015 - 13:13 | 5660503 NotApplicable
NotApplicable's picture

"There is no escape from the consequences of a credit-fueled crack-up boom..." -- Mises

Wed, 01/14/2015 - 13:20 | 5660534 KnuckleDragger-X
KnuckleDragger-X's picture

When it takes a six figure investment just to get to the point of thinking even about  opening a little mom&pop store in someplace like Chicago, you either leave or go underground and both are happening righr now.

Wed, 01/14/2015 - 13:27 | 5660573 Creepy A. Cracker
Creepy A. Cracker's picture

$60,000 in "impact fees" and taxes just to break ground on a new house in my county.  Not happening.  And the leftist morons who run the county are fretting about housing not being affordable enough.  (Hint: drop the $60,000 impasct fee and taxes and housing suddenly becomes somewhat affordable)

Wed, 01/14/2015 - 13:31 | 5660584 SofaPapa
SofaPapa's picture

The problem is that when our political leadership thinks of creating jobs, they immediately assume that they need to give money to the "places where the jobs are".  This leads to a mindset where they are giving money to large employers.  The classic example that stuck in my mind was when Obama a year or so ago visited the new Amazon distribution center to promote his "job-producing policies".  This represents giving advantages to a company that doesn't need any more advantages than it already has.

These policies lead to a completely unbalanced approach.  As companies get bigger, they receive more subsidies.  They then find it easier to compete.  Smaller companies, meanwhile, get screwed by the regulations designed to help the "job-producers".  

It's bassackwards, completely so.  Rather than recognizing that small businesses are where the growth potential lies, and leaving the way open for them to grow, the current system buries those small outfits in the red tape that gets generated trying to "help the economy grow".  

Until the situation is completely reversed (as you get bigger, it should be more difficult to grow, starting up should have the relatively more open path), this article is dead on.  Our economy will continue into the shitter.  Unfortunately, this is 100% in the face of maintaining the power structure and privilege of the elites at the top.  As such, in order to maintain their privilege, we are accelerating at full power in the wrong direction, toward a full-blown fascist / crony capitalist model.

I have seen zero signs of this attitude changing to date.  Very depressing.

Wed, 01/14/2015 - 13:36 | 5660613 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Any "innovation" directed from the top isn't innovation at all.

So no, the "leadership" doesn't understand the true nature of innovation either.

That's the only issue I have with this read.

Wed, 01/14/2015 - 13:47 | 5660669 SWRichmond
SWRichmond's picture

Paging Mr. Nail Gun

Mr. Nail Gun, to wardrobe on the double.

Wed, 01/14/2015 - 14:38 | 5660995 mkkby
mkkby's picture

Why should we listen to this guy?  He's not a phd and he's not even on tv.

Wed, 01/14/2015 - 15:42 | 5661418 roadhazard
roadhazard's picture

I'd say he has a better view from his chair of whats happening. Blogers not so much.

Wed, 01/14/2015 - 20:22 | 5662646 Keyser
Keyser's picture

No one, not even the largest investors can deal with the mountains of regulations, fines, penalties and interest imposed on new business' in the US... Hell, just dealing with the EPA is enough to drive business away... All part of the plan to destroy the US from the inside out... Damn shame Americans are complicit in their own demise... 

Wed, 01/14/2015 - 22:57 | 5663235 lakecity55
lakecity55's picture

"Reggie, are you still worrried about money?"
"Maybe..."
"Soon, everything will be Soviet. And who is the Head Soviet?"
"You are."
"So, cheer up, and wiggle that tail over this way!"

Wed, 01/14/2015 - 23:16 | 5663298 Shocker
Shocker's picture

-

Layoff / Business Closing List: http://www.dailyjobcuts.com

Enough Said..

Thu, 01/15/2015 - 00:05 | 5663437 NoDebt
NoDebt's picture

Sounds to me like Jim just woke up and smelled the coffee.  Jim, you've been asleep for a while.  About 10 years.  Let me fill you in on what has happened....

Thu, 01/15/2015 - 00:35 | 5663507 Stuck on Zero
Stuck on Zero's picture

The only new business started in New York in five years (selling individual cigarettes) was choked to death by a cop.

Thu, 01/15/2015 - 01:12 | 5663598 The9thDoctor
The9thDoctor's picture

What's killing business is some bullshit called the IRS.

You spend more time and effort doing paperwork for them, then you do actually running day to day business.

Wed, 01/14/2015 - 14:38 | 5660997 Never One Roach
Never One Roach's picture

Burn the witch at the stake ... make an example out of 'm !

Wed, 01/14/2015 - 15:04 | 5661161 rocker
rocker's picture

Me thinks that's the theme. It is election time again, right ?!?

Did he just wake up. We have not been No. 1 at anything for years.

But we do spend more on our Military than all other nations combined. That's where all the money goes. Boom.

Thu, 01/15/2015 - 01:24 | 5663640 OldPhart
OldPhart's picture

"We have enormous military power only because of a growing economy that has, so far, made it possible for the government to pay its bills."

 

Pay thier bills from pure tax revenue?  Since when?!

Wed, 01/14/2015 - 13:39 | 5660645 Temporalist
Temporalist's picture

Lol and Amazon switches to drones...because Obomber.

Wed, 01/14/2015 - 17:26 | 5661918 SWRichmond
SWRichmond's picture

I hope Amazon DOES switch to drones...think of all of the cover provided.

Wed, 01/14/2015 - 20:25 | 5662652 Keyser
Keyser's picture

What's the difference between Alibaba and Amazon? One makes money and the other, well not so much... 

Wed, 01/14/2015 - 14:51 | 5661076 Pairadimes
Pairadimes's picture

Blah, blah, blah, Mr. Clifton. Somebody wake me up when the shooting starts.

Wed, 01/14/2015 - 20:59 | 5662760 Milestones
Milestones's picture

I've read the posts above and every one has been spot on. Been down that road of all government from local, to county,state and federal interference. They can simply beat you down with bureacrats from all levels.

We absolutely must kill this octopus before it kills this country which is on its last legs.

Cudo's for the Tribe who for 3000+ years has been the kernal of this countys demise like many nations before us.        Milestones

Wed, 01/14/2015 - 23:21 | 5663313 Greenskeeper_Carl
Greenskeeper_Carl's picture

Anyone else notice that it looked like it was already on the downward slope in 1977? What happened just a few years earlier that may have caused that ?

Thu, 01/15/2015 - 00:37 | 5663510 Stuck on Zero
Stuck on Zero's picture

The first of many trade agreements.

Thu, 01/15/2015 - 01:26 | 5663646 OldPhart
OldPhart's picture

Dropping the gold peg and bringing on raging inflation.

Wed, 01/14/2015 - 14:06 | 5660805 MaxMax
MaxMax's picture

I have been trying to get permission to put a generator on the roof of my work building.  I am 2 years into the process so far.  The generator is about 1/3 of the costs.  The rest is installation, architectual drawings, electricial drawings, structural drawings, plumbing drawings, zoning review, fire safety review, utillity company review,,,  The latest problem was that because the building has an existing fire alarm with a battery backup, I needed a fire safety review because the generator could power the fire alarm in the event of a power failure.  Their logic escapes me.

Wed, 01/14/2015 - 18:15 | 5662155 cynicalskeptic
cynicalskeptic's picture

Getting really absurd.  They want architect's drawings for ANY kind of work now - cost me 1/4 of the total for drawings I could have done myself - better. 

That adds a nice amount to the total - but it keeps all the aspiring Frank Lloyd Wrights employed.   They all like to do 'pretty' while failing utterly to design PRACTICALLY.  You know... something that deals well with water and is easy to build......   Visited one of FLW's houses in Chicago....lol.  Plywood leaning up against the second floor to divert water while the cantilevered floors were all failing structurally.   Got to love the flat roofs with the snow loading there as well.

Wed, 01/14/2015 - 22:44 | 5663188 A Nanny Moose
A Nanny Moose's picture

What you are saying, is the government makes more on the home construction, than the people who build the home.

wait for it....

You didn't build that. /gigglez

Wed, 01/14/2015 - 23:24 | 5663326 Greenskeeper_Carl
Greenskeeper_Carl's picture

No but it's easy to see where the motivation would lie for a handful of regulators to do something like that. A lot of people don't want a bunch of new houses built in their area, especially cheaper ones, so they throw up regulations like this that don't explicitly deny more middle class homes going up in the area, that would be too obvious. This stealthily prices people out of the market, while also providing a huge boost to the values of existing homes.

Thu, 01/15/2015 - 02:34 | 5663729 A Nanny Moose
A Nanny Moose's picture

No? The regulators don't make from from building a home than the home builders do?

Wed, 01/14/2015 - 13:29 | 5660587 Pool Shark
Pool Shark's picture

 

 

 

BitCoin Update:

Last trade: $184.90

That's down over 42% in 2-weeks...

 

FONESTAR, WHERE ARE YOU???!!! SAVE US!!!!

 

Wed, 01/14/2015 - 13:31 | 5660593 Colonel Klink
Colonel Klink's picture

May add fuck Fonestar and the bitcon he rode in on.  What an annoying fucking cunt he was.

Wed, 01/14/2015 - 23:28 | 5663335 Greenskeeper_Carl
Greenskeeper_Carl's picture

I dunno, another week or so if this guy constantly bringing him up will probably end up just as annoying as the original....

Thu, 01/15/2015 - 01:11 | 5663596 The9thDoctor
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How you guys feel about Phonestar and his shitcoin, is how I feel about metalbugs.

Thu, 01/15/2015 - 02:29 | 5663721 JuliaS
JuliaS's picture

Fonestar, also known as Million Bitcoin Bonus froze to death last Sunday while attempting to burn wads of bitcoins to stay warm.

Wed, 01/14/2015 - 13:43 | 5660675 Winston Churchill
Winston Churchill's picture

Tracking oil, mmmm.

Wed, 01/14/2015 - 20:48 | 5662726 nmewn
nmewn's picture

It'll soon reach parity with its intrinsic value...lol. Course, thats really a negative, what with all the time & energy wasted in "mining it".

But theres still some meat left on dem bones!

Jan toof 2015: "Taking one step closer to going live, the Winklevoss Bitcoin ETF filed an amendment Dec. 30 to its Securities and Exchange Commission (SEC) prospectus to list 1 million shares at $20.09 per share.

If approved, the aggregate value of the shares will be $20.09 million."...note the dollar sign, BitSters.

Officially known as the Winklevoss Bitcoin Trust, it’s set up as an ETF (exchange-traded fund)."

"The goal is to make it easy to invest in Bitcoin without buying the digital currency directly.

It most closely resembles the popular SPDR Gold Trust ETF (NYSEARCA:GLD)."...lol...no that is not a typo.

"The offer price is surprisingly low considering that each Winklevoss Bitcoin Share is designed – according to the SEC filing – to represent one-fifth of a Bitcoin.

One-fifth of the current Bitcoin price of about $315 is $63."

http://etfdailynews.com/2015/01/02/winklevoss-bitcoin-etf-files-to-sell-1-million-shares-coin/

As noted, BitCoin is now sub $200.

I would like to now offer all ZH'rs the "golden" opportunity to get in on the gound floor of the Nmewn 3X Inverse Levered BitCoin Anti-Trust Fund ;-)

Wed, 01/14/2015 - 23:28 | 5663332 Greenskeeper_Carl
Greenskeeper_Carl's picture

Good luck. It will have to compete with my 'paper' water futures contracts and water printing business I'm going to market to the Midwest. Since there is a shortage, I'll just print moar water. I'm gonna be so rich....

Wed, 01/14/2015 - 13:34 | 5660614 Antifaschistische
Antifaschistische's picture

Start Up Businesses.....whatever, the IRS has discouraged me (read "AUDIT") 5 of the last 12 years.   In each case, they did not get a cent out of me, but required me to jump through a mountain of hoops, and hiring Tax Attorneys to help explain TO THE IRS why particular expenses were legitimate.   The IRS used to hire accountants....now, I think they do their recruiting at the local welfare offices....and I'm sorry if that offends you, but if you haven't been through constant IRS anal exams then you don't understand.

it's a total business dis-incentive.

Wed, 01/14/2015 - 21:03 | 5662772 DrewJackson
DrewJackson's picture

I too was ass raped by the IRS, Tony Soprano style - even my extremely experienced Nationa CPA was shocked - this was in 2009.   Business has never recovered.   :-(

Wed, 01/14/2015 - 13:36 | 5660628 MalteseFalcon
MalteseFalcon's picture

America's political class does not care about small business.

Didn't Obama publicly declare all out war on small business?

Wed, 01/14/2015 - 15:11 | 5661219 rocker
rocker's picture

That's because CEO's don't care either. Big Business does not want small business to win.

CEO's lobby for tax deductions on companies who pay a million or more to CEO's. 

Small business do not have CEOs earning that kind of money. Why give tax deductions to companies who and out more than 10 million a year to corportate trolls who rob share holders.   

Wed, 01/14/2015 - 23:32 | 5663342 Greenskeeper_Carl
Greenskeeper_Carl's picture

Not only that, but small business can't afford an army of lobbiests to basically write the tax code for them, nor an army of tax attorneys to find them so many deductions they essentially pay nothing, kinda like GE

Wed, 01/14/2015 - 13:54 | 5660682 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

I know some people who spent +200k just for the privilege of selling hotdogs here in Oklahoma. I imagine it takes +1M for some place like Chicago.

Wed, 01/14/2015 - 13:17 | 5660521 Number 156
Number 156's picture

not because he just had his teeth whitened?

Wed, 01/14/2015 - 13:17 | 5660527 hedgeless_horseman
hedgeless_horseman's picture

 

 

He is smiling because Obamacare eliminates competition and guarantees profits for the health insurance companies, just like the Federal Reserve Act does for banks.

Wed, 01/14/2015 - 13:41 | 5660666 BurningFuld
BurningFuld's picture

This is simply shocking. Oh wait, they did write the Obamacare legislation and, never mind.

Wed, 01/14/2015 - 23:32 | 5663347 Greenskeeper_Carl
Greenskeeper_Carl's picture

That's why it kills me when people, even aware ones on here, call obamacare 'socialism' when it is text book fascism. Govt MAKING you buy products from favored companies who are allowed to write the laws then reap the benefits.

Wed, 01/14/2015 - 13:20 | 5660539 Bill of Rights
Bill of Rights's picture

That's Cum stains no doubt.

Wed, 01/14/2015 - 13:19 | 5660532 maskone909
maskone909's picture

its pretty clear from an austrian perspective

 

the higher the debt load, the more pressure on growth.  fuck p krugman

Wed, 01/14/2015 - 21:18 | 5662841 grunk
grunk's picture

Isn't he the head of the Church of the Subgenius?

"Bob" J.R. "Bob" Dobbs

http://subgenius.com/

Wed, 01/14/2015 - 13:36 | 5660618 drendebe10
drendebe10's picture

Bow down and give thanks and ur money to the incompetent corrupt divisive arrogant narcissistic illegal indonesian kenyan alien muslim sociopathic pathological liar in chief who in six years has put Amerika in yhe sh*tter.  Hoo-raa

Wed, 01/14/2015 - 14:13 | 5660837 doctor10
doctor10's picture

He obviously does'nt understand that only Obama, Reid and Pelosi are allowed to make jobs.  Okay-somes times we let the Bernanke/Yellen as well.

Wed, 01/14/2015 - 14:26 | 5660923 sgt_doom
sgt_doom's picture

This is most interesting because just a short time ago a study out of Rutgers University indicated that almost one-half of the supposedly new jobs created could not be verified, most likely as they didn't exist since they were based upon an assumption on an estimate on a faulty 1960 economic model of the birth/death rate of new companies!

Wed, 01/14/2015 - 20:43 | 5662716 QQQBall
QQQBall's picture

old guys saying "fuck it."  Young guys saying "we're fucked."

Wed, 01/14/2015 - 13:06 | 5660470 agstacks
agstacks's picture

Sounds like we need to find a new company to gather polls.  Oh, and I hope your personal tax records are in order, Jim.

Wed, 01/14/2015 - 13:15 | 5660509 Global Hunter
Global Hunter's picture

These extremists like Jim Clifton are a threat to our country and need to be contained at all costs.

Wed, 01/14/2015 - 13:24 | 5660558 HobbyFarmer
HobbyFarmer's picture

Imagine the next time this man flies commercially.  The TSA will have him on their terror list.

Wed, 01/14/2015 - 13:08 | 5660476 IronShield
IronShield's picture

And soon we will be without reserve currency status; now THAT will be painful. 

Thanks you stoopid wall street/Pol mofo's for ruining the US.

Wed, 01/14/2015 - 13:12 | 5660497 El Vaquero
El Vaquero's picture

That won't just be painful, it will be deadly for many. 

Wed, 01/14/2015 - 13:15 | 5660511 Winston Churchill
Winston Churchill's picture

We have no concept of just how painful that will be.The only modern comparison is the pound,

but after ten years of wartime rationing in the UK, anything felt better,and peeps couldn't remember

how it was before.

Wed, 01/14/2015 - 13:20 | 5660536 El Vaquero
El Vaquero's picture

And that was also a peaceful, smooth and somewhat gradual transition with a hand off.  I don't think that will mirror the US's transition.  I think ours will be slow at first (we're in that phase,) then all of a sudden, with people running around screaming "But we're EXCEPTIONAL!  How come no one saw this coming!"

Wed, 01/14/2015 - 13:25 | 5660562 Winston Churchill
Winston Churchill's picture

Sort of spoke the same language,which helped.

With the amount of xenophobia displayed even on ZH, there is no way I can see a peaceful

transition.The pound to dollar was,albeit a world war was already ongoing.

Wed, 01/14/2015 - 13:27 | 5660576 El Vaquero
El Vaquero's picture

And what happened during the war was just the end of the process.  And that xenophobia is why I think that even the SDR will fail as a replacement.  I think that we really are coming to the end of globalism.  Once things finally settle down, trade will be a lot more balanced and coffee will be a luxury. 

Wed, 01/14/2015 - 23:41 | 5663376 Greenskeeper_Carl
Greenskeeper_Carl's picture

Gary north has written about that on lewrockwell. Pretty good, he basically says that all these govts have become too big and with too much debt and are driving a lot of economic activity underground, and will basically collapse into themselves. He sees a lot of decentralization in the future, since all this so called globalism really only benefits a small handful of people, and you can't fool all of the people all of the time. It doesn't help that more and more people are finally getting fed up with the fed gov, and starting to realize that big, central govt harms them far more than it helps or protects them. It will be hard at first, requiring a lot of barter, but we will be a lot better off than the Europeans, as we have a lot more natural resources.

Thu, 01/15/2015 - 00:12 | 5663462 MeBizarro
MeBizarro's picture

Already happening in Greece and why you haven't seen outright revolution.  Large parts of the economy have just gone off the books and the Greeks are resorting to old habits they had when they were ruled by the military junta.  Family friend who travels to Athens and is pretty well connected says that he thinks up to 50% of the economy in certain parts of Greece is already off the books especially on the border with Bulgaria and some of the islands where you can smuggle stuff quite easily from Turkey.  

Wed, 01/14/2015 - 13:23 | 5660556 Mrmojorisin515
Mrmojorisin515's picture

"but after ten years of wartime rationing in the UK, anything felt better,and peeps couldn't remember"

 

You may be on to something with this

Wed, 01/14/2015 - 13:26 | 5660572 IronShield
IronShield's picture

Not a very good comparison.  The pound was never as interconnected as the USD.  Our 'advantage' is the ability to have everything priced, and ultimately accepted as payment in full, for mere paper promises. 

Many Americans have a fast food mentality; we want it and we want it now.  Imports will be significantly curtailed, rationing (in peace time, I hope) will be unacceptable to most.  The pain will be felt by all and it won't be pretty.  Hopefully we can avoid war and a 'new' system will be implemented in a very short period of time.  That is my preferred scenario and believe that will be the way forward.

Wed, 01/14/2015 - 13:31 | 5660591 El Vaquero
El Vaquero's picture

The problem is that we have built our infrastructure around the current system with no room for alternatives.  A very short period of time could be 5 or 10 years as people figure out how the concept of local economies works. 

Wed, 01/14/2015 - 13:33 | 5660598 Winston Churchill
Winston Churchill's picture

20 years EV,minimum.

Wed, 01/14/2015 - 13:37 | 5660640 El Vaquero
El Vaquero's picture

Like I say, it behooves us to at least understand the common skills from the 19th century all the way back to the neolithic.  We've never been here before, so we don't know just how far we're going to fall and how long we'll stay down.  If we get WWIII, you'll want your flintknapping skills to be in order.  If this is simply the global equivalent of going from the Roman Empire into some neo-dark ages, who knows what'll be useful?

Wed, 01/14/2015 - 14:53 | 5661094 mkkby
mkkby's picture

You need to quit spewing this keyboard and mouth piss and get a god damned life.  Look at all the countries in history where the currency failed, and none of them reverted to mass hysteria or middle ages tech.  Go to greece and argentina for current examples.  NOTHING.  TERRIBLE.  HAPPENED.

It's always wwiii and end of world to small minds like yours.  I suspect this is from a non questioning belief in religous prophesies, rather than independant thought.

Wed, 01/14/2015 - 20:21 | 5662619 El Vaquero
El Vaquero's picture

I'm an athiest, dickweed.  This has to do with having an economy where every single one of our necessities is dependent on oil.  Not just energy, but oil.  Think: Petrodollar.  If me telling you that bad shit is going to happen pisses you off, then don't read my posts.  

 

And terrible things DID happen to the Roman Empire when it fucked up with critical resources.

Thu, 01/15/2015 - 00:23 | 5663491 WillyGroper
WillyGroper's picture

Tell that to the Ukrainian lady I just met who had to melt snow for water with the fall of USSR.

Wed, 01/14/2015 - 13:43 | 5660668 p00k1e
p00k1e's picture

You are on to something.  Michigan houses the 'Motor City' and is trying to reinvent Detroit as a ‘Tech-Town’. 

Yet, the Republican governor here banned direct sales of Tesla cars. 

This means Michigan is endorsing old technology and will remain a dead state. 

Wed, 01/14/2015 - 13:54 | 5660735 El Vaquero
El Vaquero's picture

I won't commit to saying that kind of protectionism is behind all of it, but it certainly is behind a big chunk of it.  Or, rather, cronyism is behind a big chunk of it.  Go into the ag industry, and the regulations are written such that, you either need to be in a niche, or you need to be big enough to know somebody, follow the regulations, or be able to afford the fines when you violate them.  This, plus the transportation infrastructure, is what allows us to not have a clue where our food comes from.  The same can be said for a lot of our basic necessities.  Yes, there are people who manage to slip through the cracks in this and do just fine, but there are also armed raids on Amish guys because they dared to sell raw milk across state lines. 

 

You could show me 100% undeniable proof that all GMOs are not only not bad for me, but that they are good for me, and I would still be opposed to how we grow things in this country, in part, because it will not prove to be resilient against systemic shocks.  The cronyism is another reason too.  If we wake up one morning and the banking system is completely frozen, few people will have a fallback for their basic necessities due to the reliance on all of the infrastructure that has sprung up around this system.  Once supply chains break, it's zombie sheep time.

Wed, 01/14/2015 - 13:31 | 5660592 Winston Churchill
Winston Churchill's picture

You are way more optimistic than me.

I generally assume the worst in people, and am not dissapointed much.

Wed, 01/14/2015 - 13:41 | 5660653 kowalli
kowalli's picture

Civil war is possible, i hope not a world war

Wed, 01/14/2015 - 13:46 | 5660693 p00k1e
p00k1e's picture

After the bust, all the old people in other countries who bought U.S. treasuries for their pension plans will send their grand children here to kill you.

 

 

Wed, 01/14/2015 - 14:02 | 5660784 kowalli
kowalli's picture

Im not an american

Wed, 01/14/2015 - 23:44 | 5663392 Greenskeeper_Carl
Greenskeeper_Carl's picture

Hahaha that's some funny shit right there. Don't know of you intended it to be that way, but I literally laughed out loud. Sorry, I kinda have a fucked up sense of humor.

Wed, 01/14/2015 - 18:30 | 5662208 MEFOBILLS
MEFOBILLS's picture

After the war, England had “debtor” power and they didn’t know it.  Parts of England far flung empire, like Brazil, Argentina, Malayasia, India, gave Britain war resources in exchange for future debt.

The debt was denominated in Sterling.

Creditor countries that had given Britain war material wanted to buy post war goods.  They wanted things like washing machines, cars, industrial items, etc.  British knew they were in debt to their former colonies.

Britain did two things wrong:  1) She built Vulcan Bombers and pretended she was still a world power, thus not converting her industry to peacetime goods.  2) She took out a dollar loan, with the proviso that former sterling debts can be paid with dollars.  Example:  America would build a washing machine, sell it to Malaysia, get the Sterling, and then exchange Sterling for Dollars.  The dollars came from the dollar loan, and Britain ends up with its Sterling.

Stupid Stupid Stupid.  The amount of ignorance in money matters is astonishing.  Britain could have used its debtor power.  Creditor isn’t always over debtor.  The current status of U.S. is also debtor power, but that is about to reverse, especially with upcoming BRICs and loss of dollar reserve status.

The U.S. dollar zone grew to include the former Sterling zones.

Wed, 01/14/2015 - 13:10 | 5660487 Syrin
Syrin's picture

I wonder what happened in 2008.   That's right, we got ourselves an American Fuhrer, thanks to the fuckheads we call citizens.

Wed, 01/14/2015 - 13:13 | 5660505 El Vaquero
El Vaquero's picture

Yeah, but the financial crisis started under Bush, and was, in part, due to actions under Clinton, who's actions were in part due to Bush I, who...

 

Hate Obama as much as I do, he has only cranked the throttle up a bit.  He hasn't changed course even by one minute of angle from his predecessors. 

Wed, 01/14/2015 - 13:36 | 5660621 SofaPapa
SofaPapa's picture

Well said.

Wed, 01/14/2015 - 13:39 | 5660646 Syrin
Syrin's picture

And I totally agree with that, but as you know, the Fuhrer is Bush on steroids, and he had a Congress full of shitheads who gave him everything he wanted thansk to nazi Pelosi,   Bwaney Frank, Scary Reid, etc.  Everything from Obamadoesntcare to business crushing taxes, etc.

Wed, 01/14/2015 - 18:52 | 5662281 MEFOBILLS
MEFOBILLS's picture

the Fuhrer is Bush on steroids,

This comparison doesn’t comport with real history.  Both Bush and Obama were/are lackeys of the international, i.e. the “new world order.”

From 1933 to 1939 the German economy went from being worst in Europe to the being the best.  Nazi’s actually delivered jobs and economic goods, contrary to American leaders of that time and  now.

Germany did not suffer a depression like the rest of the “gold” international banker world. 

Schacht used a device called MEFOBILLs that funded armaments.  This worked something like a forward contract, yet they were treasury instruments that paid interest.  Once the instrument was redeemed, it could be re-issued.  Redeeming put German Marks into circulation.

One of the main reasons why the “international” declared war on Germany in 1933 was due to this de-linking from international money, which threatened international money power.  Yes, the tribe, especially the Zionists, were threatened.  Some of it may have been theatre, especially given the Havaara agreement.

It’s always been a path and volume thing with money.  The path needs to be into channels of productivity, and the volume needs to be in alignment with goods and services.  Type of money matters too – high level bankers like Schacht knew exactly how things worked.  He even studied Hebrew so he could talk to his counterparts in the banking world.

Nazi Germany was a political vertical administration state, which ultimately is bad.  This type of fascism has no feedback and counter-forces.  The former U.S. with Federalism is the ideal.  But since the monetary history of Nazi Germany is not generally known and hidden from view, we doth assume much.

Wed, 01/14/2015 - 14:05 | 5660800 Snoopy the Economist
Snoopy the Economist's picture

I beg to differ but Olamocare does increase the job losses (good jobs anyway) and creates a part time work force with lower wages. So his impact was very noticeable.

Wed, 01/14/2015 - 14:17 | 5660854 El Vaquero
El Vaquero's picture

And McCain/Mittens wouldn't have pushed something similar with all of the campaign contributions coming from the pharmaceutical and health insurance industries?  This is a crony capitalist state, and something that benefitted those industries was going to come down the pike, be it a D or an R in office. 

Wed, 01/14/2015 - 14:16 | 5660859 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

What really grinds my gears with O is the arrogance with which he is stripping away our liberties right under our noses. 

All the while creating so much division amongst the people that virtually everyone is just pointing fingers at each other. 

I actually have to give O credit for being such a master manipulator. 

Good bye, America... you had a nice run....

Wed, 01/14/2015 - 19:00 | 5662311 Bumbu Sauce
Bumbu Sauce's picture

Some of us knew exactly who Barack Hussein Obama was before he even began campaigning for POTUS.  He serves his masters, governs in th eChicago Maachine Politics manor, was inculcated in the Frankfurt School, and is a disciple of Alinsky.  He always was going to destroy while enriching the heck out his enablers and supporters.  And yet we were ruthlessly mocked and called racist for even questioning wjust who the heck is this nobody that came out of nowhere.  The complicit trasonous media went straight to work whitewashing all of Obama's past foibles and connections making him out to be some new blank slate that we could all pin our hopes on...AND IT WORKED on the fat sluggard American populace.  Shakespeare had it wrong, the lawyers take second to the State Media Shills.  Shoot the antenna.

Wed, 01/14/2015 - 19:59 | 5662563 TeethVillage88s
TeethVillage88s's picture

Yes. Boiling Frogs. Bit by bit, the fascism increases.

Zionist or Nazi system set up by knowledge we learned from the Germans. Makes no difference.

Inverted Totalitarianism. We are becoming Serfs in a neo-fuedal system.

Wed, 01/14/2015 - 13:32 | 5660601 IronShield
IronShield's picture

Democracy.  Snort; I'll pass.  Need to go back to a system with numerous individual requirements prior to allowing one to vote.

Wed, 01/14/2015 - 22:17 | 5663091 ThroxxOfVron
ThroxxOfVron's picture

Democracy itself needs a re-boot, and not just in the 'west'.

It is amoral for a majority to disemfranchise and steal from a minority.  electoral dominance should never be construed as any form of mandate to unfettered power.  
People should be allowed to practice socializing without majority coorecion.  

IF a group wishes to pool resources or cooperate to share goods and services amongst themselves fine.

Other people should not be plundered or forces to subsidize goods and services that they do not want by the group that does.

Wed, 01/14/2015 - 23:57 | 5663419 Greenskeeper_Carl
Greenskeeper_Carl's picture

That's the difference(probably biggest, since everything else springs from there) difference between a libertarian and socialist society. A libertarian society can tolerate a socialist enclave within itself where people pool everything together and divide it up equally, so long as the people within this commune are there voluntarily and not being forced to participate. A socialist society, however, cannot tolerate an equivalent libertarian community within itself. If people were allowed to form communities where each person could keep what he earned, and not contribute any of it to the rest of the outside (socialist) state, but not ask for anything from said state in return, then that socialist society would collapse on itself in short order since all those capable of producing value would flock to this community. Roads were made before income taxes, as were schools in local communities, and people would quickly see what you get from govt- not a whole lot. The inevitable outcome of this socialist commune has been illustrated by the 'tragedy of the commons' centuries ago, but for some reason, humans keep requiring to be taught the same lessons over and over again, and unfortunately they never really learn these lessons no matter how much pain is inflicted.

Wed, 01/14/2015 - 13:11 | 5660488 agstacks
agstacks's picture

re: "Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying."

This isn't an issues though. Becuase "dont let anyone tell you for a second that business create jobs".  

Thu, 01/15/2015 - 07:10 | 5660552 Creepy A. Cracker
Creepy A. Cracker's picture

"dont let anyone tell you for a second that business create jobs"

Was that Dear Leader Obama, Hillary(!!!) or Fake Indian Warren?

Wed, 01/14/2015 - 22:41 | 5663182 lakecity55
lakecity55's picture

"You did not create that."

Wed, 01/14/2015 - 13:10 | 5660489 papaswamp
papaswamp's picture

This was the big one to me..." Let's run some numbers. You will often hear from otherwise credible sources that there are 26 million businesses in America. This is misleading; 20 million of these reported "businesses" are inactive companies that have no sales, profits, customers or workers. The only number that is useful and instructive is the number of current operating businesses with one or more employees.
There are only 6 million businesses in the United States..."

Me thinks the GDP guesstimation is wayyyyyy over inflated.

Wed, 01/14/2015 - 13:10 | 5660493 El Vaquero
El Vaquero's picture

Well Jim, it's better late than never to this rabbit hole.  You have a long ways down this hole to go yet.

Wed, 01/14/2015 - 13:19 | 5660496 Number 156
Number 156's picture

"Let's get one thing clear, he exclaims, "this economy is never truly coming back unless we reverse the birth and death trends of American businesses."

Almost a Freudian slip there.
Didnt they 'adjust' those numbers for them at least twice already?

Wed, 01/14/2015 - 13:12 | 5660501 Bell's 2 hearted
Bell's 2 hearted's picture

well, duh

 

(painfully) obvious to anyone (who was paying attention) since 2010

Wed, 01/14/2015 - 13:14 | 5660510 Temporalist
Temporalist's picture

This started last century friend.

Wed, 01/14/2015 - 13:15 | 5660516 oklaboy
oklaboy's picture

well at least somebody speaks the truth..

Wed, 01/14/2015 - 13:15 | 5660518 Rainman
Rainman's picture

I call bullshit. I can't drive 5 blocks in any direction without seeing a new payday loan bizness or a tai-kwon-do shop.

Wed, 01/14/2015 - 13:21 | 5660545 maskone909
maskone909's picture

hahahah yeah no kidding.  you live in so cal!? but honestly, i never see anyone in those tai kwon do joints.  there are alot more homeless kids around my parts.  and the recycling centers always have lines down the block. 

Wed, 01/14/2015 - 13:24 | 5660560 Creepy A. Cracker
Creepy A. Cracker's picture

Plus guns beat Tai Kwon Do any day.

Wed, 01/14/2015 - 13:31 | 5660597 maskone909
maskone909's picture

 

 

never bring tai kwon do to a printer fight

Wed, 01/14/2015 - 13:24 | 5660566 de3de8
de3de8's picture

Or tattoo or nails

Thu, 01/15/2015 - 01:04 | 5663579 Cornfedbloodstool
Cornfedbloodstool's picture

Dance studios and extreme gyms.

Wed, 01/14/2015 - 13:17 | 5660526 Freebird
Freebird's picture

Exactly, governments create jobs & they need our support - as do the bankers with God's work.. ( is MDB channelling me?! )

Wed, 01/14/2015 - 13:20 | 5660530 Creepy A. Cracker
Creepy A. Cracker's picture

"The Economy Is Not Coming Back"

Speaking truth to assclowns...

Evil, narcisist, power hungry, control freak, leftist, assclowns at that.

Wed, 01/14/2015 - 22:39 | 5663175 lakecity55
lakecity55's picture

"I'm worried, Munchkins, look at this website, job cutz dot com."
"We'll always have money, Reggie, come here for a hug. Better?"
"Yes..."
"Now, where does that guy write that website? I have a drone for him."

Wed, 01/14/2015 - 13:21 | 5660542 wagthetails
wagthetails's picture

more growth for the sake of growth.  only big business CEO's care about growth for more profit.  If an economy went from 1mil jobs to 2mil jobs but salareis remained the same, who really cares if we grow?  only the Sr. Managment of a company who now has another 1mil possible customers. 

arguing for greater population growth is ultimately what undoes the world.  i don't wany any more people in the country or on this planet.  Let's keep the population stable until we figure out how to deal with the issued we have.

...Amnesty was nothing more than QE4....bing in more potential customers. 

Wed, 01/14/2015 - 13:22 | 5660548 mendigo
mendigo's picture

This is no accident.

Free money is being used to wipe-out the little guy in favor of the targets and lowes and best buy and subway etc.

Proceeding according to plan. It is offensive that they pretend otherwise. I suppose the banks will need to create new loans to builders to make more strip malls to reinvigorate small business - time to recycle that one.

Wed, 01/14/2015 - 22:35 | 5663164 lakecity55
lakecity55's picture

That does it.

I am going to invent a time machine so we can go back and open businesses.

Also, I am going to England in my machine and kill Marx.

Wed, 01/14/2015 - 13:23 | 5660549 Seasmoke
Seasmoke's picture

R. E. S. E. T.

Wed, 01/14/2015 - 13:21 | 5660550 disabledvet
disabledvet's picture

But Mongro still sad.

 

And unhappy too.

 

No one like Mongro...flee when Mongro come.

No one for Mongro.

 

No one at all....

Wed, 01/14/2015 - 13:24 | 5660553 Heavy
Heavy's picture

Buy speech in legislature to kill competition, is new justice.

Wed, 01/14/2015 - 13:25 | 5660561 Soul Glow
Soul Glow's picture

Bullish!

Wed, 01/14/2015 - 13:26 | 5660570 buzzsaw99
buzzsaw99's picture

bitch bitch bitch bitchez

Wed, 01/14/2015 - 13:27 | 5660577 the not so migh...
the not so mighty maximiza's picture

CEO at Gallup dies from nailgun wounds while building bird house, film at 11

Wed, 01/14/2015 - 13:36 | 5660629 malek
malek's picture

Nah, Gallup CEO resigns "to spend more time with his family" sometime between 1 month and 6 months from now.

Wed, 01/14/2015 - 13:28 | 5660581 Freddie
Freddie's picture

People voted for this.  the USA is a joke. 

Wed, 01/14/2015 - 14:02 | 5660778 SofaPapa
SofaPapa's picture

Selected, not elected.

It's quibbling, I realize, but I think it helps to visualize the system better to understand how scripted "elections" are.

That said, people's tacit acceptance of this system is equally damning as though we had voted for it, so your fundamental point is still correct.

Wed, 01/14/2015 - 13:28 | 5660583 Consuelo
Consuelo's picture

'Let's get one thing clear'...   The economy is never truly coming back until:

- Savings matter first, discretionary (Consumer spending 70% of GDP dynamic) is rebalanced.

- A fair rate of return for said savings returns to finance/banking.

- Taxes and regulation are brought in line with fairness and reason, which in turn, stimulates incentive.

- And finally, freedom is encouraged.   'Yes' becomes the operative word, instead of 'No'.   'Safety' takes it's rightful place - BEHIND personal responsibility and the ability of 2 or more people to transact between one another, Without a 3rd party always in the middle with it's hand out or it's extortionary weapon pointed at your head.

Sorry, but we're already headlong into a 'trend' and that trend isn't amicable to Freedom.   Which by extension, isn't amicable to free enterprise.

 

 

Wed, 01/14/2015 - 22:34 | 5663156 lakecity55
lakecity55's picture

I agree, but it seems like communism is now in vogue.

Wed, 01/14/2015 - 13:30 | 5660585 Atomizer
Atomizer's picture

Are shareholder investors just a proxy voting piggybank? Question, not a statement. Kindly comment.

Wed, 01/14/2015 - 13:31 | 5660590 Bill of Rights
Bill of Rights's picture

This has to be a lie, I've seen a few new Nail salons and  Barber shops opening up just last week.

 

Now if the shoeshine business comes back in vogue you know for sure this is a depression.

Wed, 01/14/2015 - 15:03 | 5661167 TeethVillage88s
TeethVillage88s's picture

But the Asians came in to start those nail salons and take over the Sushi Restaurants. I don't know where they came from... but there are so many of them in one shop. I don't know how they can be making money. Looks like $20 per customer.

Wed, 01/14/2015 - 13:30 | 5660594 Catullus
Catullus's picture

This is statist panic. OMG if small business aren't starting up, who will be left to tax?

It's a raw deal starting a business. You take all the risks. The government gets a risk less payoff from you. You go into debt doing it. The bank makes 20% off you. The local thugs make fees off you.

Hire someone? Get prepared for slave labor to collect the govrnment's taxes for them. All governments. Not just fed. State. Local. Social security.

Oh. And pay your taxes quarterly please. And don't underpay, you get fined for that.

Wed, 01/14/2015 - 13:40 | 5660656 post turtle saver
post turtle saver's picture

BINGO +1 ... no incentive to start a small business that can outweigh the negatives in the current market and regulatory climate

there's a fable about that... something about a goose laying golden eggs...

Wed, 01/14/2015 - 15:03 | 5661147 TeethVillage88s
TeethVillage88s's picture

Yeah, it is like they are "Gaslighting" us about starting a business.

- Look if I can understand my on finance, accounting, taxes, and get all that into a business model on my own... then the Government is saying well go ahead and do it start your business even though you don't understand everything; you just need to hire a tax expert, a finance expert, a business coach, a banker to help with the business model.

- So if I trust the government & trust the experts, I really don't know shit and some giant company might be waiting to take fees off me, and then take of the business or take the property or whatever

Bull Shit.

Wed, 01/14/2015 - 13:36 | 5660633 djsmps
djsmps's picture

Where I live there is a strong entrepreneurial activity with frozen yogurt shops.

Wed, 01/14/2015 - 13:46 | 5660685 Toolshed
Toolshed's picture

Sounds like you live in the 1980's.

Wed, 01/14/2015 - 13:48 | 5660705 TCA
TCA's picture

Those were yogurt shops where people served you.  The new paradigm is the "serve yourself" yogurt shop with one cashier who takes your money.  The robots are even taking away the yogurt jobs.

Wed, 01/14/2015 - 14:09 | 5660823 Eagle Keeper
Eagle Keeper's picture

Thats just because it's winter. Wait till summer and they will have to pay their electric bill to keep that crap from melting.

Wed, 01/14/2015 - 14:10 | 5660824 Eagle Keeper
Eagle Keeper's picture

Thats just because it's winter. Wait till summer and they will have to pay their electric bill to keep that crap from melting.

Wed, 01/14/2015 - 13:41 | 5660667 Grimaldus
Grimaldus's picture

When criminal progressive government grows, business, liberty and people die. In copius quantities.

Grimaldus

 

Wed, 01/14/2015 - 13:42 | 5660673 NoWayJose
NoWayJose's picture

But now we have the Republicans in charge of both houses of Congress.  No wait.... Nevemind....

Wed, 01/14/2015 - 13:48 | 5660692 NEOSERF
NEOSERF's picture

I will say that in the past 35 years MANY of those small businesses never should have been given a loan to start in the first place but now that business credit is so tight, not surprising bankers are requring a real business plan, milestones and an ROI inside of a decade.  The good money after bad loan days are over.

Wed, 01/14/2015 - 13:48 | 5660702 wmbz
wmbz's picture

The good news is with two years of  "free" trade school coming up, millions of start-ups will start sprouting up! Obozo say so!

FUBAR

Wed, 01/14/2015 - 13:53 | 5660733 Gohn Galt
Gohn Galt's picture

I thought this number would be much worse.  Outside of someone opening up a US Business for some particular state or federal government requirement, I don't know anybody who incorporates in the US.  The bureaucracy and the tax make it too expensive.  You don't need a US corp to do business in the United States.  Some people who don't run businesses still get angry about this, but in a lot of cases it a choice between paying say 40% tax as US Corp compared to 0% tax as a non-US Corp.  Factor in complications such as Obamacare or Social Security or whatever the fuck else tax and you see that you are really punished and at a severe disadvantage having a US Corp.

Wed, 01/14/2015 - 13:54 | 5660736 Harry Balzak
Harry Balzak's picture

Thrift stores are booming!  Well, some of them anyway...the ones that don't close...

Wed, 01/14/2015 - 14:07 | 5660811 TeethVillage88s
TeethVillage88s's picture

You won't not believe all the Pawn Shops that moved in over just the last year it seems like. My brother was telling to to go hit the Pawn Stores and we literally had like 2.

Now Pawn stores are all over at least 8 within 5 miles radius.

Anyway...

"Let me be very clear. America, Inc. is far more important to America's security than our military. Because without the former prospering -- and solvent -- there is no latter."

I've been saying this since 2011. Small Businesses are the core of the US Economy. But they can't lobby like the Transnationals. Damn Corruption.

Wed, 01/14/2015 - 13:54 | 5660739 Nobody For President
Nobody For President's picture

Actlually, you naysayers, gubernmint policy has opened the door wide to new small businesses starting.

Just LOOK at all the mall vacancies that promise low rent.

Wed, 01/14/2015 - 14:08 | 5660808 Eagle Keeper
Eagle Keeper's picture

When all we have left are a few mega-box stores (Wally, HD, etc) the trend will flatten out.....

I figure soon that Wally will buy up the dollar stores.

Wed, 01/14/2015 - 14:21 | 5660812 Disc Jockey
Disc Jockey's picture

This is proably one of the most depressing articles I've read.  

It's really happening: people are Going Galt and just leaving in droves.

Can anyone suggest a good job for a man eager to get out of the dead end one he may have? Fox News of course has said oil...fucking Hannity is always boasting about the jobs he got people up north what a jackass.

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