NEWS AND COMMENTARY

News and/or Commenty on World Events.

The American Economy Is Doomed

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That the economy is said to be growing at a decent pace. But the typical family has been losing ground. Real household disposable income is going down for the thirteenth year in a row in 2012. Hourly wages, adjusted for inflation, have not increased for three decades, and yet, we are told, this is the world’s most dynamic economy. Where to begin to explain this picture? The figures lie – they’ve been bent and beaten by the government’s statisticians. But even if they are straightened out, it doesn’t help America’s middle classes. GDP is not really growing as fast as reported. Most families really are getting poorer. Bankruptcies have more than doubled, for example, since the first Clinton term. Savings rate have dropped to a new record: minus 1.5%. Wage rates are getting globalized – good and hard. This makes some businesses more profitable; they have been able to take advantage of lower earnings in Asia. But it leaves homegrown labor struggling to make ends meet. The only way they’ve been able to put the two ends of the budget together has been with debt. It is a “plastic safety net” for America’s middle and lower classes, say economists. When they reach in their pockets and find no coin or paper, they pull out plastic. Average credit card debt has grown to $8,650 per family, say recent surveys.

So, what are you going to do?

Sit around and say:  it will not happen to me?  Yeah, right; it is going to happen to EVERYBODY.

Rely on the government?  That is what got the nation into this mess.

Pray?

How about doing something yourself?  That could work.

Want to know exactly what to do to save the nation’s economy?

WE KNOW!

Follow our blogs and get everyone else to do the same.

 

The facts no one wants to read.

Comments and referrals to this blog would be greatly appreciated.

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Written by solutions777

November 8, 2012 at 6:19 pm

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