Economic Black Hole: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.

Article located at this link.theeconomiccollapseblog.com...

I just don't know what to think about this, it seems to provide some good information well not good for us but you know what I mean. According to this article...things will only get worse, sad really.

reply to post by alyosha1981

#1) Do you remember that massive wave of subprime mortgages that defaulted in 2007 and 2008 and caused the biggest financial crisis since the Great Depression? Well, the "second wave" of mortgage defaults in on the way and there is simply no way that we are going to be able to avoid it. A huge mountain of mortgages is going to reset starting in 2010, and once those mortgage payments go up there are once again going to be millons of people who simply cannot pay their mortgages. The chart below reveals just how bad the second wave of adjustable rate mortgages is likely to be over the next several years....

We've been warned, but wheres the outrage? when will we see that our American dream.... is just a dream!?

reply to post by ugie1028


Much agreed! The dream is gone and what remains is only an illusion of progress fueled by us in bondage.

reply to post by alyosha1981


A dream, an illusion, a fantasy, pushed by our Media saying everything is fine and dandy.. Which it isn't! Go look around the country, find those tent cities! Ask them about the American dream, it doesn't exist to them, they lost it all, and another round of citizens will be going through the same thing!

this country is heading toward third world status FAST! Wait until you see things accelerate towards that milestone.

this doesn't look good... AT ALL!

Thomas Jefferson, Washington, Benjamin Franklin, where are you!?

reply to post by alyosha1981


It;s times like these I am glad that I own my home, even if it is a mobile home, at least I won't be suffering any losses like those in the mortgages that are going to reset this year and renters of those who are paying those kind of mortgages! Yes if you rent and your landlord is paying for one of these mortgages, you could lose your Residence. I wish all the ludk in the world to everyone, I really feel that this year we're going to find out just how bad it really is out there.

[edit on 26-1-2010 by ldyserenity]

reply to post by ldyserenity


That almost happened to me, my landlord was paying two mortgages and ended up loosing her job so she kicked us out to get her house back. Oh well her loss I'm not paying one of them anymore.

#20) When a nation practices evil, there is no way that it is going to be blessed in the long run. The truth is that we have become a nation that is dripping with corruption and wickedness from the top to the bottom. Unless this fundamentally changes, not even the most perfect economic policies in the world are going to do us any good. In the end, you always reap what you sow. The day of reckoning for the U.S. economy is here and it is not going to be pleasant.

This is it, and sadly, nothing will change.

reply to post by EMPIRE


More sadly still, the evil is practiced predominately by our leaders, elected by us. We just keep electing these types due to having few choices when it comes to election time, we buy the lies and we've made our bed.

reply to post by alyosha1981


The are "elected" by us, but it doesn't matter. Americans have no true voice when it comes to who is and isn't in control.

reply to post by alyosha1981


We have the technology and the means to fly out of this bad recession.
- The glass is half full -

reply to post by EMPIRE


Ya our so called "free elections" are a joke we're given few choices and even at that their in cahoots and for the same goals. It's horrible.

Originally posted by Eurisko2012
reply to post by alyosha1981

 

We have the technology and the means to fly out of this bad recession.
- The glass is half full -

Don't you mean (they) have the technology?

[edit on 26-1-2010 by alyosha1981]

www.abovetopsecret.com...

already being discussed here

reply to post by alyosha1981


Who is they???
BTW, i see you are from Denver.
Did you know Denver International Airport is a VIP bunker?
Jesse Ventura went out there.

reply to post by TheCoffinman


Gotcha didn't see it...different title

reply to post by Eurisko2012


Yes I have heard of DIA being a bunker of sorts and the stuff about the Quen of England buying up property around it too.

reply to post by alyosha1981


Did you hear where the queen of England bought land?
I looked on Google Earth. It's my guess they spent $1.7 Billion
on the airport and $3.2 Billion on the underground base.
I think there is a tunnel going south to NORAD and a high speed
underground train that goes due west to the mountains near
Boulder, Colorado. I'm guessing that is where her bunker is.
Standby to see 100s of Gulfstream 550s fly into DIA around
November 2012. I hear December 21, 2012 is the day a
HUGE solar flare gets blasted directly at Earth.

I blame a huge fraction of this whole mess on this thing called in the income tax.

I'd recommend you read The FairTax Book by Neal Boortz and Rep. John Linder (R-GA). In the book, they explain why the income tax is a terrible idea, and explains why the IRS--in its efforts to collect taxes--causes VERY serious intrusions into our privacy and then some.

We need to repeal the 16th Amendment and start over again with FairTax (H.R. 25/S. 296), which taxes consumption, not the process of earning money. Once FairTax becomes law, the US economy will rocket through the roof because everyone will realize they could put their savings and investments in the USA with essentially NO tax consequences. And because of no more corporate income tax, payroll tax, dividend payment tax and capital gains tax, you will see millions upon millions of jobs head to the USA, and all those idled factories and office space will suddenly become HUGELY valuable.

It is sad that the pending collapse could have been prevented early if the administration (Bush or Obama) had made the economy the focus and taken aggressive measures to stop the carnage. It seems they thought simply pumping money into the system would solve the problems.
Actually it merely masks the problems and makes them worse. It would have caused some pain but probably nothing like what we will have for the next 1, 2, 5, 10 years.

I am not sure how it will play out over time - I think things will just get worse and worse (if we are lucky) - and Obama will come out with all sorts of new spending by July or August of 2010. I would be shocked if the stock market was still above 10,000 and the jobless was only at 10% by year-end. It would suggest that there is some hope of a recovery. I think such a recovery is highly unlikely, unfortunately.