United States Heading towards a Depression?

Uhm..tell me one thing guys, is $150,000/year a LOT in US? I always assumed that it was the average income for college pass outs but when I see some of my customers telling me that they would be really happy to make $100 a day..I really get confused lol.

 

Its all relative Helvetii. Where I live, $150k can be a very good income, but in reality, for a family - its middle class. If you are single, and live in Arkansas, you're likely RICH. Even here, $150k with no family is doing VERY WELL...

Again, all relative. Depends on where you live, what things cost where you live, housing, food, clothes, insurance, if you have a family, kids, etc... Average college grad where I am is $30k - $50k on average, even after 15 years! Again, all relative.

I have relatives that have million dollar homes out east, and make a decent wage, but that million dollar home and large wage is the equivalent of a $150k house and much lower wage somewhere else.

$150k in the US is generally not RICH. Hell, in many cases $250k is not rich. For a family of 4, both parents working full time, after taxes, and other cost of living expenses, its anything but rich.

Again, all RELATIVE!!!

 

My favorite spokeswoman for Obama: http://www.facebook.com/video/video.php?v=440092267574&ref=mf

 

The maximum unemployment payment is around $580 a week in states like NJ, New York and California and the person may also be receiving around $400 of food stamps a month. The $787 Billion Obama stimulus plan extended the benefits for 99 weeks. So that's around $100 a day.

The US national debt has increased $30 Billion per week over the last 10 weeks.

The US trade deficit was $40 billion for March.

The US has a budget deficit of $1.5 trillion dollars for this fiscal year with no end in sight.

In the old days people used to say that money was only paper. Nowadays, money is a computer entry and there's no limit.

 

Here is some economic reality
I think its fascinating, that after one of the most amazing leaps in profitability growth with regard to the s&p 500 financial reports for first quarter 2010 the Obama haters are screaming about how bad the economy is. http://www.thestreet.com/story/10752196/1/sp-500-earnings-exceed-expectations.html?cm_ven=GOOGLEFI

The s&p 500 makes up a substantial impact of the US economy. USA Today reported that this growth was the largest ever in the 22 year history for reporting this metric:

Of further interest, from the same USA Today report it noted that revenue growth in the same period only jumped 8%:

What does that mean? It suggests that American Capitalism is doing what capitalists do...and as businesses they are rocketing forward. They cut expenses, and that means cutting employees, tightened their belts, and figured out how to make money with less resources.

Of course if this nation was a socialist country, Obama, would have ordered these businesses to hire people. He hasn't. He can't.

The US is seeing exactly what works in Capitalism. We have experienced the worst financial crash since the Great Depression. It happened under the Bush administration. TARP saved the world wide banking system from completely collapsing in Sept, 2008. Before then and through mid 2009 we have been in a horrendous shrinking recession....and now business is leading the way out.

Three big problems remain:

A) Overall corporate, financial and consumer debt
B) Government debt
C) Unemployment

Amazingly, tax payments representing 2009 are the lowest in decades. Effective tax rates are low. This only fuels government debt.

Hopefully the private sector will continue to move forward, and continue to hire as it has done in the last two months.

 

Is this a subtle tip of the hat to our new 9.9% unemployment rate?

No, but the government hiring spree while the rest of the economy contracted says he did exactly that with the "business" he does control.

I can acknowledge that Obama's one time stimulus tax credit lowered tax receipts for 2009, but lets be honest. Tax receipts weren't just low because of low tax rates. They were low because taxes are generated when people make money and very few people were making money in 2009. It is one of the major contributing factors to the failing California state budget. Property values dip, foreclosures skyrocket, and property tax revenues evaporate. It takes more than a small stretch of the imagination to blame our low revenues on supposedly low tax rates.

The new numbers are in from the CBO on Obama's health care as well. As expected, much more than a trillion dollar deficit increase, even after all the new taxes being levied to pay for it. Is there anyone out there who believes our taxes are not going to skyrocket to pay for Obama's gluttonous spending?

 

- DJIA 10,896.91 + 148.65

The best indicator for the health of the US economy is undoubtedly the Markets which reflect all the indicies, business - labour etc. into a single and daily number.

No one can dispute the stellar performance since last March and the coinciding improvement in the overall economy due to the legislative, Keynesian policies that have accomplished their goals to date.

Were the Dow to continue its upward track and the economy to follow suit as is predictable the party responsible for the recovery, the Democrats, have every right to claim victory over the defeatist whether translated in the November elections or not. What is important for the nation is not always who wins the next election.

 

Even though Obama appears to be the reason for the treason, there is a lot more behind his presidency than the news watching eye meets:

[video=youtube;dD7IpNMnt1c]http://www.youtube.com/watch?v=dD7IpNMnt1c[/video]

 

Blogmaster: I doubt the video will sway the Republicans.....they relish the turmoil from their tenure, their grip on power / persuasion is their sole concern.

Bush - Chaney: Their pollution of the Gulf is a remarkable analogy to the self interests associated with their policies in general over a functioning and regulated gov't.

 

You really should stop posting, it only shows your ignorance.

 

Long on rhetoric, but absent of facts.


This is why liberals are so easily swayed by an emotional argument.

 

It's not pro or anti republican. It's about Americans losing control of their nation.

 

The narrator is very much biased against republicans, it is obvious in the way he words things in the video. He has many of the symptoms... errr I mean misguided understandings that most liberal "educated" college students have about the "right".

I am with you on one thing Mike, both sides of politicians are the same. (Not sure if I mean types or sides of their own personalities, but I guess both interpretations would work.)

 

You are right. Both "parties" get money (donations) from the same people, why is that ?

 

Isn't amazing how the "stellar" performance of the markets under GWB and a Republican Congress were reason for panic, doom and gloom? But now under totalitarian democratic control, it's called an economic improvement based on Keynesian policies and government intervention?

You've not lived long enough to understand what this really represents. Many of us have seen what's to come before.

 

Unfortunately that is the case in most instances.

 

After all that's happened, people still are in denial about how ridiculously messed-up the economy is.

At least, people have stopped blaming the poor and minorities for what the majority gladly caused.

It's going to get a WHOLE LOT WORSE in the United States.

This is only the first leg down, there are a lot more to go.

 

I wanted to share something with you guys. Last night within my interview, radio show host Derek Engler republished the interview with the juror from the America Freedom to Fascism video after I've brought it up:
Listen "interview w/Mike Dammann"
Listen "Throwback 09 interivew with marcy brooks"

So after I've listened to this interview, I realize one again that no matter how many rights Americans have, few actually stand up for themselves and allow themselves to judge evenhandedly.

And as long as nobody takes serious what appears minor and stands up against the fact that the IRS (owned by the IMF) is in fact unconstitutional then nobody should be wondering about what is happening today and nobody has a right to complain until every piece of legislation on the table is being used to protect the people from the hands of the bankers.

But then again, there is that ignorant saying that "not paying your taxes is un-American".

This interview is about one jury that did the right thing. If you haven't watched Freedom to Fascism, I highly recommend that you do, because there lies the reason why America is in the situation that it's in.

America Freedom to Fascism – Must watch, must share!

"People say they love truth, but in reality they want to believe that which they love is true."
~ Robert J. Ringer

 

The Clinton administration paid for the programs they initiated and began the process of paying down the national deficit.

The Bush administration with the same Republican congress as Clinton's initiated and accelerated unfunded initiatives and exasperated the national deficit that culminated in a disastrous recession that is not yet fully understood nor completely controlled - and is why both the Republican legislators and executive branch were voted out of office.

My statement simply doubted the Republicans would be much of an audience to the videos implications - as indeed it is their game plan.

.............

As stated before, the pollution of the Gulf of Mexico is the cumulative effect of Republican / conservative philosophy and is analogous of their rampant disregard for just purposes (wellhead regulation) over self indulgence as an expense they pursue against society as a whole. IE. Liberals haven't their lust for self indulgence at others expense......Gulf fishing anyone?