25 signs that America is close to Finacial Collapse

[PIMking]

I didn't write this but found it on my Gator board. I thought it was interesting and thought some here would like it.

Originally Posted by RealGatorFan

The media and the WH have been indicating that signs of life are in abundance in our economy but I beg to differ. Here are 25 signs that we are headed to a global financial collapse:

#1 The official U.S. unemployment rate has not been beneath 9 percent since April 2009.

#2 According to the U.S. Census Bureau, there are currently 6.3 million vacant homes in the United States that are either for sale or for rent.

#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.

#4 Back in 2000, 7.2 percent of blue collar workers were either unemployed or underemployed. Today that figure is up to 19.5 percent.

#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.

#6 Since the year 2000, we have lost 10% of our middle class jobs. In the year 2000 there were approximately 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.

#7 The United States now employs about the same number of people in manufacturing as it did back in 1940. Considering the fact that we had 132 million people living in this country in 1940 and that we have well over 300 million people living in this country today, that is a very sobering statistic.

#8 According to CoreLogic, U.S. housing prices have now declined for three months in a row.

#9 The average rate on a 30 year fixed rate mortgage soared 11 basis points just this past week. As mortgage rates continue to push higher it is going to make it even more difficult for American families to afford homes.

#10 22.5 percent of all residential mortgages in the United States were in negative equity as of the end of the third quarter of 2010.

#11 The U.S. monetary base has more than doubled since the beginning of the most recent recession.

#12 U.S. Treasury yields have been rising steadily during the 4th quarter of 2010 and recently hit a six-month high.

#13 Incoming governor Jerry Brown is scrambling to find $29 billion more to cut from the California state budget. The following quote from Brown about the desperate condition of California state finances is not going to do much to inspire confidence in California's financial situation around the globe....

"We've been living in fantasy land. It is much worse than I thought. I'm shocked."

#14 24.3 percent of the residents of El Centro, California are currently unemployed.

#15 The average home in Merced, California has declined in value by 63 percent over the past four years.

#16 Detroit Mayor Dave Bing has come up with a new way to save money. He wants to cut 20 percent of Detroit off from essential social services such as road repairs, police patrols, functioning street lights and garbage collection.

#17 The second most dangerous city in the United States - Camden, New Jersey - is about to lay off about half its police in a desperate attempt to save money.

#18 In 2010, 55 percent of Americans between the ages of 60 and 64 were in the labor market. Ten years ago, that number was just 47 percent. More older Americans than ever find that they have to keep working just to survive.

#19 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China's share had soared to 20 percent.

#20 The U.S. government budget deficit increased to a whopping $150.4 billion last month, which represented the biggest November budget deficit on record.

#21 The U.S. government is somehow going to have to roll over existing debt and finance new debt that is equivalent to 27.8 percent of GDP in 2011.

#22 The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.

#23 According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the profession over the next three years.

#24 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.

#25 All over the United States, local governments have begun instituting "police response fees". For example, New York Mayor Michael Bloomberg has come up with a plan under which a fee of $365 would be charged if police are called to respond to an automobile accident where no injuries are involved. If there are injuries as a result of the crash that is going to cost extra.

[T@T]

#26 - US of fk'n A control the worlds economy. It's not likely they'll ever have a financial collapse.

[theonlywhiteout]

some of those are just shocking.

[Reggie Dunlop]

Like anything else that goes viral on the internet, I'd be skeptical of the claims made. Are they verifiable? What is the original source?

[PIMking]

Originally Posted by Reggie Dunlop

Like anything else that goes viral on the internet, I'd be skeptical of the claims made. Are they verifiable? What is the original source?

It was a poster that typed it. It is getting torn up by some of the Obama "the economy is getting better" lovers.

[Reggie Dunlop]

Originally Posted by PIMking

It was a poster that typed it. It is getting torn up by some of the Obama "the economy is getting better" lovers.

Actually, Google shows that it's circulating on a lot of blogs and forums.

[Weiser Wonder]

According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the profession over the next three years.

Don't buy that one for a second. Bail out of being a Doctor? To do what? It makes no sense.

[ResAlien]

Originally Posted by Weiser Wonder

Don't buy that one for a second. Bail out of being a Doctor? To do what? It makes no sense.

Don't let common sense get in the way of a perfectly good fabricated inflammatory argument.

[CaptainCrunch]

#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.

#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.

I think at some point, if the U.S. wants to fix their economy they're going to have to address their massive trade imbalance.

China needs to be addressed in that effect a $270 billion dollar deficit is stupid.

I think American's have to figure that they're not going to be able to spend their way out of this pit, there has to be a true austerity movement in the States.

But the U.S. economy won't collapse, if it does the World Economy and trade goes with them.

[CaptainCrunch]

Originally Posted by Weiser Wonder

Don't buy that one for a second. Bail out of being a Doctor? To do what? It makes no sense.

I have a lot of that problem too, besides the crushing hours, and dealing with whiny dirty disgusting sick people, they get paid well, and they are in a stable employment environment.

[PIMking]

Originally Posted by Reggie Dunlop

Actually, Google shows that it's circulating on a lot of blogs and forums.

Well poo...

Didn't know, I just quoted his post because I thought it was cool.

[Slava]

Some of those points could be true...but even so fall into the "Who cares?" category. Does China overtaking the US in every consumption automatically equal financial apocalypse? Does someplace I've never heard of having a real estate correction in California mean that the US economy will never recover?

It's the same old thing. When times are bad people just can't feel like they'll ever be good again and when times are great people feel like it will never end.

[Montana Moe]

Originally Posted by PIMking

Well poo...

Didn't know, I just quoted his post because I thought it was cool.

There is nothing new on the internet...

[CaptainCrunch]

Honestly I would much rather do business with the American's then the Chinese.

[BigBrodieFan]

Originally Posted by Reggie Dunlop

Actually, Google shows that it's circulating on a lot of blogs and forums.

Unfortunately here in the States, things are more polarized than I can ever remember. Coming here as a Canadian, I was so completely naive and basically ignorant. After University I was an Officer in the Canadian Navy, and came here when my time was served. I know nothing about politics, society, nor 'proper etiquette.' All I really knew were two things:

1) It was so much easier to get an education here- ANYONE can get a 4 year degree and,
2) It was so much easier to get a job. In Canada jobs were very hard to find-I couldn't get a good paying job as a teacher in Canada, it was too competitive. Of course, when I got my first teaching job I learned a really important life's lesson- 'It's not what you know, it's who you know' and on the other side of that- Teachers are horribly underpaid.

Since that time, I've managed to learn a few more important life's lessons. Survival here is easy if you have the drive to get a job and keep it. I started working in IT years ago and it was all about who did and didn't show up for work- and who pushed themselves to get bonuses and promotions. Of 10 'new hires' we'd keep one. That's about the way it goes.

The problem with the work force in the United States is that too many people don't WANT to work. Many people are happy receiving government benefits and scraping by. It baffles me but it's reality.

We have our middle class, which I guess I would classify myself as being a 'member' of who productively produce enough to comfortably make a living for themselves and for their children. And we have others who do a whole lot of complaining and don't really work and reap the benefits of what they sow.

There are greedy corporations where swindlers take their millions, but most of the BS comes from your every day, small business who make poor decisions when it comes to money allocation and other responsibilities. It's too easy here for a company to just shut down, not pay their employees and then declare bankruptcy- and then open under another guise. This is what is happening in 'middle america' and there needs to be a stop to it. Money is being overspent and buried in so many places because first class idiots are running the show. I just don't see how it will stop any time soon. The 'laws' are never really followed and things like 'unions' will never be tolerated.

The US is losing confidence in the world and the younger people are being taught to hate the very country that protects their choices. It's all a sad situation. Politicians make no sense- grown men and women who fight like school children.

It's a sad state of affairs in day to day life. I would just hope it gets somehow better. And NEITHER political party helps. Being 'President' in the moment is just that- forgettable.

[FireFly]

Originally Posted by Weiser Wonder

Don't buy that one for a second. Bail out of being a Doctor? To do what? It makes no sense.

Not that I'm saying I agree with the statistic, but I can see medical malpractice suits being a large reason some US doctors would want out. Unemployed and have an owie? Sue your doctor.

[BigBrodieFan]

Originally Posted by FireFly

Not that I'm saying I agree with the statistic, but I can see medical malpractice suits being a large reason some US doctors would want out. Unemployed and have an owie? Sue your doctor.

Happens all the time. Frivolous law suits are what drives up insurance in this country. It's horrible, the doctor's have to go through so much paperwork and they have to order so many tests that are not cost effective just to insure something like a sore finger isn't a mini stroke, so they don't get sued in two months. One thing that is great- a doc is around every corner if you need one at any time of the day. The one thing that sucks, the cost of insurance premiums and their ongoing costs that make them simply not affordable for anyone.

[Montana Moe]

Originally Posted by FireFly

Not that I'm saying I agree with the statistic, but I can see medical malpractice suits being a large reason some US doctors would want out. Unemployed and have an owie? Sue your doctor.

It isn't the malpractice suits that these doctors are allegedly causing these doctors to leave the profession, this is a tactic by the opposers of Govt. health care. They claim that Obamacare is going to put such a pinch on doctors financially due to restrictions on fees to Medicare patients, that many would rather retire/leave the profession.

I imagine many of them will be going to truck driving schools, perhaps a few going into multi-level marketing.

[PIMking]

Originally Posted by BigBrodieFan

The problem with the work force in the United States is that too many people don't WANT to work. Many people are happy receiving government benefits and scraping by. It baffles me but it's reality.

Why work when you can get pregnant and have a bigger check come in the mail?

Why go and look for a job when the government sends you a check for over 3/4 of what you made while doing nothing?

I've heard people say they wanted Obama because he would pay their rent or car payments.

It's sad that people would do this but it's a reality. Popping kids out is a lot easier and more profitable than actually graduating HS and going to college.
Oh and that's PIMP too.

[Vulcan]

Originally Posted by Montana Moe

It isn't the malpractice suits that these doctors are allegedly causing these doctors to leave the profession, this is a tactic by the opposers of Govt. health care. They claim that Obamacare is going to put such a pinch on doctors financially due to restrictions on fees to Medicare patients, that many would rather retire/leave the profession.

I imagine many of them will be going to truck driving schools, perhaps a few going into multi-level marketing.

Yeah, that's what I was thinking too. IIRC the doctors here were all threatening to move to the States when UHC became a reality here in Canada. Not many moved.