Almost One Third of America Now Lives in Poverty

Originally posted by xxshadowfaxx
I have a question to ask....

Judging by the latest graphs and charts and tables, is it possible to tell when the next crash is going to be?

Everyone keeps on saying a crash is coming... A major crash, a mad max style crash.

But each year comes and goes and things stay exactly the same.

There is really no difference right now, than in 2005.

We are faced with the same problems, and we always say a crash is coming, but it never does.

So whens the bloody thing going to crash, I'm waiting.....

I'm not sure if I should be getting ready for the long haul of a life spent working, or if i should give up the dreams of owning a house and car with a wife and kids and so on....

I'm 28 years old... Should I be contributing to an rrsp for retirement, or is that all pointless? What am I supposed to do?

I don't really want to go on working and pretending that the future is full of roses and candy canes.... So realistically speaking, when is it going to crash, is it going to crash and at all, and what does the world look like in 10, 20, 30 years time?

If waves of extremely GOOD stuff doesn't hit, then we are doomed to the restraints and "law's" of our predominant economic system and way of doing things, meaning a multiple decade to century's long dwindling of the average person's overall wealth and generally, subsequent well being (As per the text books), with major dips coming from issues like the mortgage crises, and other debt related crises...

Thing is, the tptb have learned that they can't use wars to feed the beast anymore, that has even become unprofitable.

We're talking, shift in the whole paradigm kind of deal.

Originally posted by jimmyx
and of course...this is why we should cut regulations on businesses, do away with unions, do away with the minimum wage, cut taxes for the top 2%.... you know, for those great job creators.

qft in the 60s the tax rate for the top earner was 91%. Maybe we need more of that. Listening to the "job creators" so far created national debt and killed jobs in Europe and America. I am not even mad about Indians and chinese getting jobs, they need to eat too, but at a decent salary under decent conditions, so that it isnt just a race to the bottom.

reply to post by JohnPhoenix


Thank you John. I appreciate it and will give that thread a read.

Originally posted by Tardacus
and lets not forget that when obamacare kicks in that all those poor people will have to buy health insurance or face stiff government fines. Where are all these poor people going to get money to buy health insurance?
1/3 of the population are living below government defined poverty levels, 48% of the population are using government foodstamps, this country is in real trouble.

This is what I'm worried about. And I feel that our country is in real trouble too. For the first time in my life, I wake up worried, feel worried all day, and go to bed like this and can't sleep. I had chest pain the other day from it. My husband has had chest pains and headaches. Stress is going to kill us before anything else will at this point.

I'm not a fear mongerer, or a doomsday lover either. I'm just straight up worried about where we are going, and what is going to happen to so many of us.

If any of you want a day by day understanding of what's going on behind the scenes of the economy.
George Ure is probably the best site I have found.

Wed and Sat are for subscribers only, but you can read the rest of the week for free.

urbansurvival.com...

People keep asking why the big crash hasn't happened yet.
Answer is simple. Having learned from the thirties, the gov is balancing by adding massive debt to attempt to stimulate the economy. Think of it like taking out more and more credit cards and maxing them out, and using the newer credit cards to pay off the interest on the old ones. It appears to be working until no one will give you anymore cards.
The problem is, the world economy is all in the same boat. So they have been shuffling the cards around. If they had not done this, we probably would have had a few years of depression, but with this action it is possible that it could literally turn america into a third world country.
No one will make the laws needed, because they were funded by corporate interests that they must now vote in favor of.
And if you think those banks that lent us the money will just walk away, I have news for you, they have legal rights and will use them.

Originally posted by xxshadowfaxx
I have a question to ask....

Judging by the latest graphs and charts and tables, is it possible to tell when the next crash is going to be?

Everyone keeps on saying a crash is coming... A major crash, a mad max style crash.

Recent recessions

1980/81
1990/91
2000/2001
2007/2009

We will have another "downturn" around 2018/2020....whether it is a mild "downturn"..."recession"..."Depression" or "Crash" will depend on how many structural changes occur either via investor behavior changes or gov regulation or both to the system before then to prevent the extreme swings of the pendulum. The nature of our economy will always involve long term "macroeconomic" vs Microeconomic fluctuations....that can not be changed, all we can do is moderate the severity of those swings and how frequently they occur.

The good news is that over the next 7 to 8 years the market will rise significantly...the bad news is that few folks have money to invest. If I had the spare funds I would be heavily investing now and selling in 7 years.

I also think that after a near crash like we had, investors are more careful and hopefully less corrupt which makes the scenario of a "crash" less likely in the next downturn.

All just my crazy opinion

reply to post by jacobe001


Here is the crux of it..ya gotta scroll around on the graphic.

Reply to post by beezzer

A leftist president?

You're joking right?


Posted Via ATS Mobile: m.abovetopsecret.com

I barely make 35,000 BEFORE Taxes and I have NO Kids.. How people make what I make and have 2-3 kids is insane..But one thing someone else said and that is -with NO middle class no one has the money to buy anything except the Bare essentials in life. Without people buying the "extra's" the entire economy will fail.. Its inevitable.. You have to have a middle class in a capitalism economy.. The middle class is just about gone its just the "working poor" now. I'm just thankful I only have to worry about myself.

Something else you need to understand. Any value of the Dow or other must also take into account inflation. If you take the value of the Dow back in 2007, add in inflation and take today's value, the Dow is not a good investment. At the moment, the gov tells you inflation is running at some silly low number. Its not. In the old days, core inflation was a marker of the cost of items necessary to live.

The numbers are now put out as core inflation minus volatile food and gas. Volatile? Since when did we stop needing those things?

Second, things that a not needed, or not purchased every month, like a large screen tv are added in. As the cost of these items are going down, they use them to balance off things increasing.
They also will use value added reductions. Your old computer that cost lets say $900 is half the speed of the new one that cost $900 but because the new one is value better, they have a formula to reduce the cost because you are getting better.

On top of that, items such as steak that might have appeared on the old calculations, have now been replaced by ground beef.

If you shop for groceries, rent an apartment etc., you know how much things have really gone up

Using the money that is being created and added to the system as a guide to inflation, the U.S. dollar is about to enter hyperinflation in the next short while.

reply to post by Starchildren


Awww don't worry starchild, trust that the universe will sustain you.

I have lived in poverty all my life, my mother gave more to charity then she kept, dad would always get angry with her for it, but they never did without.

Originally posted by beezzer
Well we can look forward to another 4 years of a leftist president, a democrat led senate and a weak innefectual republican-led house.

YAY! Obama! Oh-ba-ma! Oh-ba-ma! Oh-ba-ma!
(Oh-my-gad!)

Too bad we don't have Republicans in power!

What will happen if Billionaires aren't able to become Trillionaires???

People will be poorer because they aren't giving their money to rich !

It makes sense to me

I am scared

Originally posted by Thepump

Originally posted by beezzer
Well we can look forward to another 4 years of a leftist president, a democrat led senate and a weak innefectual republican-led house.

YAY! Obama! Oh-ba-ma! Oh-ba-ma! Oh-ba-ma!
(Oh-my-gad!)

Too bad we don't have Republicans in power!

What will happen if Billionaires aren't able to become Trillionaires???

People will be poorer because they aren't giving their money to rich !

It makes sense to me

I am scared

So people will have more and pay less under Obama.

Right?

reply to post by winterkill


Depends on what your definition of poor is. Just because I dont own a SUV and wear designer clothes or have a fat bank account does not mean I am in poverty. I guess if you are depressed cuz you are broke then call that poverty

$11,000 a year?????

The US is going to hell in a hand basket!

reply to post by winterkill


I'm sorry but if you can't earn 11,000 in a whole year that's just pathetic and please don't blame the economy or job market....

I earned just under $11k last month and I'm a full time college student, plus a director of sales for an IT company. I'm essentially juggling two full time jobs (work and school) and make it work.... People need to learn how to work their ass off to get what they want in this country...

I guess if you're a mom with two kids who's husband buggered, that might not work, which is probably why one out of three children in the U.S. is living in poverty. I guess everyone can just finish their 8 hour, $80 dollar shift at walmart and then go and work another job too.

Originally posted by mrThornhill31
I barely make 35,000 BEFORE Taxes and I have NO Kids.. How people make what I make and have 2-3 kids is insane..But one thing someone else said and that is -with NO middle class no one has the money to buy anything except the Bare essentials in life. Without people buying the "extra's" the entire economy will fail.. Its inevitable.. You have to have a middle class in a capitalism economy.. The middle class is just about gone its just the "working poor" now. I'm just thankful I only have to worry about myself.

Well if your wife makes 20k thats 55k . We are all into this. Those whom buy stock because it soared by cutting labor to the bone by exporting work, those who made that decision in the first place, those whom buy a bargain because it was produced cheaply in a slave country, although one could argue the savings on that are not passed on to the consumer in many cases.

Originally posted by marg6043
reply to post by beezzer

 

Oh, but do not tell the truth about the growing welfare state and the 19% increase alone in the last 4 years, because Obama is the best thing after apple pie.

edit on 27-11-2012 by marg6043 because: (no reason given)

Because its his fault that jobs are going oversea? He should just cut minimum wage so that people can work for 40 Dollars a month here?

Your jobs are disappearing because the U.S. Congress won't pass laws to tax items brought in from a country with lower costs. If tariffs were put on, the jobs would come home, but guess who funded your congress back into office. Some members received up to a million from banks and other corps for there election run.

Kiss Ford or any other big car company goodbye and America falls from the list of Industrialized nations.