stock market up down poor family eating black and white depression recession sad hill news

With the recession over and chocolate rations up, mainstream media ‘forgot’ to report on the little stuff. Who cares! Negative comprehensive figures like this, this, this, this and this would paint Dear Leader in a poor light:

(CA Political News and Eco Collapse) The stock market is absolutely soaring, and according to the U.S. government and the Federal Reserve we are in the beginning stages of a robust economic recovery. [...] So shouldn’t we all be celebrating? Well, if stock market performance was an accurate measure of economic health, then Zimbabwe would have had one of the healthiest economies on the entire globe during the last decade. But just like Zimbabwe’s stock market was artificially pumped up with “funny money” that was rapidly being devalued, so is ours. All of the “quantitative easing” that the Federal Reserve has been doing is pumping plenty of money into the financial markets and is helping to inflate a false stock market bubble, but it is doing very little to alleviate the suffering of the U.S. middle class.

Eco Collapse compiled 18 sobering facts, and for the sake of time here are just the ‘highlights’:

  • According to Gallup, the U.S. unemployment rate is currently 10.3 percent.  When you add in part-time American workers that want full-time employment, that number rises to 20.2 percent.
  • There are currently more than 4 million Americans that have been unemployed for more than a year.
  • Gasoline prices in the United States recently hit a 28-month high.
  • During the 4th quarter of 2010, 4.63 percent of all U.S. home loans were in foreclosure.  That matched the all-time high, and it was up significantly from 4.39 percent in the 3rd quarter.
  • It is estimated that there are about 5 million homeowners in the United States that are at least two months behind on their mortgages, and it is being projected that over a million American families will be booted out of their homes this year alone.
  • Almost 14 percent of all credit card accounts in the United States are currently 90 days or more delinquent.
  • The average credit card rate in the United States had increased to a whopping 13.44 percent at the end of 2010.
  • Americans now owe more than $890 billion on student loans, which is even more than they owe on credit cards.
  • Average household debt in the United States has now reached a level of 136% of average household income.  In China, average household debt is only 17% of average household income.
  • 43 percent of all mortgages in south Florida are currently underwater.
  • When you adjust wages for inflation, middle class workers in the United States make less money today than they did back in 1971.
  • One out of every seven Americans is now on food stamps.
  • One out of every six elderly Americans now lives below the federal poverty line.
  • Bankruptcy declaration for States sought – QUIETLY: HERE

    US practically owned by China – who cares? Not congress: HERE

    Bankrupt GE to spend $30 billion as Obama administration continues to fund GE: HERE

    Obama seeks $53 billion to fund ‘secretly’ bailed out GE for high-speed rail: HERE

    General Electric going bankrupt: HERE and HERE

    Bankrupt GM and Chrysler blow taxpayer loot: HERE

    ‘Hope and Change’ numbers are in: HERE

    h/t: Moonbattery

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