America's Continuing Economic Depression
Economics / Great Depression II Apr 02, 2013 - 01:47 PM GMTBy: LewRockwell
Seth Mason writes: This is not what economic recovery looks like. This is, however, what an economic depression looks like:
First, the American workforce is far smaller than it was before the 2008 economic collapse, even though the number of Americans of working age has increased by several millions:
Second, the people who are lucky enough to be gainfully employed are earning less:
Third, with far fewer people employed, those who are employed earning less, and the long-term unemployed and underemployed depleting their savings, the number of Americans living in poverty continues to grow:
Fourth, with the employed earning less, millions of unemployed and underemployed depleting their savings, and interest rates at record lows, Americans are saving less and less:
Finally, the number of Americans dependent on the government for basic survival has grown by the tens of millions:
Only 2 words adequately describe this 5 year period of eroding lifestyle in the United States: economic depression
© 2013 Copyright LewRockwell.com - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
