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50 Economic Numbers From 2011 That Are Almost Too Crazy To Believe

Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don’t make dramatic changes immediately. If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them. Just “tweaking” things here and there is not going to fix this economy. We truly do need a fundamental change in direction. America is consuming far more wealth than it is producing and our debt is absolutely exploding. If we stay on this current path, an economic collapse is inevitable. Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up.

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Even though most Americans have become very frustrated with this economy, the reality is that the vast majority of them still have no idea just how bad our economic decline has been or how much trouble we are going to be in if we don’t make dramatic changes immediately.  If we do not educate the American people about how deathly ill the U.S. economy has become, then they will just keep falling for the same old lies that our politicians keep telling them.  Just “tweaking” things here and there is not going to fix this economy.  We truly do need a fundamental change in direction.  America is consuming far more wealth than it is producing and our debt is absolutely exploding.  If we stay on this current path, an economic collapse is inevitable.  Hopefully the crazy economic numbers from 2011 that I have included in this article will be shocking enough to wake some people up.

At this time of the year, a lot of families get together, and in most homes the conversation usually gets around to politics at some point.  Hopefully many of you will use the list below as a tool to help you share the reality of the U.S. economic crisis with your family and friends.  If we all work together, hopefully we can get millions of people to wake up and realize that “business as usual” will result in a national economic apocalypse.

The following are 50 economic numbers from 2011 that are almost too crazy to believe….

#1 A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty.

#2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished.

#3 If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to 11 percent.

#4 The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.

#5 One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.

#6 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

#7 Since December 2007, median household income in the United States has declined by a total of 6.8% once you account for inflation.

#8 According to the Bureau of Labor Statistics, 16.6 million Americans were self-employed back in December 2006.  Today, that number has shrunk to 14.5 million.

#9 A Gallup poll from earlier this year found that approximately one out of every five Americans that do have a job consider themselves to be underemployed.

#10 According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

#11 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#12 Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job.  In July, only 81.2 percent of men in that age group had a job.

#13 One recent survey found that one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.

#14 The Federal Reserve recently announced that the total net worth of U.S. households declined by 4.1 percent in the 3rd quarter of 2011 alone.

#15 According to a recent study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.

#16 As the economy has slowed down, so has the number of marriages.  According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married.  Back in 1960, 72 percentof all U.S. adults were married.

#17 The U.S. Postal Service has lost more than 5 billion dollars over the past year.

#18 In Stockton, California home prices have declined 64 percent from where they were at when the housing market peaked.

#19 Nevada has had the highest foreclosure rate in the nation for 59 monthsin a row.

#20 If you can believe it, the median price of a home in Detroit is now just $6000.

#21 According to the U.S. Census Bureau, 18 percent of all homes in the state of Florida are sitting vacant.  That figure is 63 percent larger than it was just ten years ago.

#22 New home construction in the United States is on pace to set a brand new all-time record low in 2011.

#23 As I have written about previously, 19 percent of all American men between the ages of 25 and 34 are now living with their parents.

#24 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#25 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980.  Today they account for approximately 16.3%.

#26 One study found that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

#27 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#28 The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

#29 It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.

#30 The retirement crisis in the United States just continues to get worse.  According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.

#31 Today, one out of every six elderly Americans lives below the federal poverty line.

#32 According to a study that was just released, CEO pay at America’s biggest companies rose by 36.5% in just one recent 12 month period.

#33 Today, the “too big to fail” banks are larger than ever.  The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

#34 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.

#35 According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.

#36 If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.

#37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured before.

#38 Child homelessness in the United States is now 33 percent higher than it was back in 2007.

#39 Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.

#40 Sadly, child poverty is absolutely exploding all over America.  According to the National Center for Children in Poverty, 36.4% of all children that live in Philadelphia are living in poverty, 40.1% of all children that live in Atlanta are living in poverty, 52.6% of all children that live in Cleveland are living in poverty and 53.6% of all children that live in Detroit are living in poverty.

#41 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

#42 In 1980, government transfer payments accounted for just 11.7% of all income.  Today, government transfer payments account for more than 18 percent of all income.

#43 A staggering 48.5% of all Americans live in a household that receives some form of government benefits.  Back in 1983, that number was below 30 percent.

#44 Right now, spending by the federal government accounts for about 24 percent of GDP.  Back in 2001, it accounted for just 18 percent.

#45 For fiscal year 2011, the U.S. federal government had a budget deficit ofnearly 1.3 trillion dollars.  That was the third year in a row that our budget deficit has topped one trillion dollars.

#46 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

#47 Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars.  When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#48 If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

#49 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.

#50 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

Of course the heart of our economic problems is the Federal Reserve.  The Federal Reserve is a perpetual debt machine, it has almost completely destroyed the value of the U.S. dollar and it has an absolutely nightmarish track record of incompetence.  If the Federal Reserve system had never been created, the U.S. economy would be in far better shape.  The federal government needs to shut down the Federal Reserve and start issuing currency that is not debt-based.  That would be a very significant step toward restoring prosperity to America.

During 2011 we made a lot of progress in educating the American people about our economic problems, but we still have a long way to go.

Hopefully next year more Americans than ever will wake up, because 2012 is going to represent a huge turning point for this country.

— The Economic Collapse Blog

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Trump Says He Will Make A “Major Statement” When He Returns To The US

After a 12-day tour through five Asian countries where he discussed the threat posed by North Korea and how America might shrink its massive trade deficits, President Donald Trump is heading back to the US Tuesday. And in true Trump fashion, the president hinted that he would be making a “major announcement” upon his return to the states – but offered no clues about what the topic of said “announcement” might be.

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After a 12-day tour through five Asian countries where he discussed the threat posed by North Korea and how America might shrink its massive trade deficits, President Donald Trump is heading back to the US Tuesday. And in true Trump fashion, the president hinted that he would be making a “major announcement” upon his return to the states – but offered no clues about what the topic of said “announcement” might be.

Here’s the tweet, sent around 1 a.m. Eastern Time:

Of course, there’s a lot happening in Washington right now, and Trump’s hinted-at announcement could be in reference to one of any number of issues. Will he deliver an update on the administration’s position regarding tax reform as two bills that differ in dramatic fashion wend through Congress? Perhaps some type of security announcement? Or the revelation that the US has finally entered into talks with North Korea after Trump adopted a notably softer tone toward his favorite Asian antagonist over the weekend?

There’s also the possibility that he could deliver an official statement about Alabama Senate candidate Roy Moore, who Trump previously said should “do the right thing” and step aside if allegations about him having inappropriate sexual contact with a 14-year-old girl turn out to be true?

Shortly before his teaser tweet about the upcoming announcement, the president hinted that he had made some major breakthroughs on behalf of the US’s trading relationship in the region, claiming that the US’s regional partners now understand that trade deficits “most come down”?

The president also took the time to thank the staff of the US embassy in the Phillipines for doing such “GREAT WORK” during his visit. Strangely, similar praise for other US embassies in the region was not forthcoming.

He also took a swing at polls that reflect a presidential approval rating below 40%, pointing to a Rassmussen poll that puts his approval rating at a reasonable 46%…

With the House gearing up to pass its version of the tax reform program on either Thursday or Friday, it’s possible Trump could be taking to the bully pulpit to try and whip up votes among intransigent blue-state Republicans. Or the announcement could be on any one of a number of topics. North Korea, trade, tax reform, the upcoming Alabama special election – all are priorities for the White House and the Republican Party right now.

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The Price Swings In Bitcoin Are Making Me Sick To My Stomach

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Well, that de-escalated quickly…

All the hopes and dreams of Bitcoin Cash officianados have been dashed in the last 24 hours. After its mega spike from $600 to over $2400, the forked cryptocurrency has crashed back to around $1000 overnight as traders switch back to the mainstream Bitcoin branch, sending it surging back above $6600 – erasing all the weekend’s “the end is nigh” losses…

As CoinTelegraph reports, cross-exchange data for Bitcoin Cash, which describes itself as “the best money in the world,” shows a swift turnaround in the altcoin’s fortunes through the weekend.

The result of a giant publicity effort from its proponents, BCH saw mass investment as it heads towards a potentially contentious hard fork set for just after 7 p.m. GMT today.

The failure of SegWit2x, coupled with endorsement from the soon-to-be-defunct Bitcoin Classic team meant BCH became the major ‘competitor’ to Bitcoin overnight.

Its rapid rise has ignited the community, with widespread condemnation of lead supporters Roger Ver and Jihan Wu coming in tandem with public praise from Ethereum creator Vitalik Buterin.

As BCH approached its highest-ever point Nov. 11, Buterin delivered his “congratulations” to Ver on Twitter, adding it was a “key reason why he is now so confident in crypto.”

Criticism meanwhile has focused on the ‘corporatized’ nature of BCH in contrast to Bitcoin’s decentralization, while figures involved insist the altcoin is an improvement on Bitcoin.

The project even has a CEO in the form of Finnish Pirate Party founder Rick Falkvinge, who released a statement aimed at harmonizing its structure.

“…As Chief Executive Officer of this disorganization with made-up titles, where every document is as official as people pretend it to be, I further emphasize that we cannot resolve social disputes by voting, for two reasons: first, there is no boundary on the electorate that determines who gets to vote, which creates winning by trickery rather than by argument, and second, we don’t want to vote anyway.”

But that is all over for now…

As Bitcoin soars back above $6600…

Leaving Bitcoin Cash about half the market cap of Ethereum once again…

So what happens next?

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7 Quotes That Sum Up Buffett’s Entire Strategy

Unlike other highly successful value investors, Buffett spends a large amount of time doing interviews. There have also been thousands of articles written about him and possibly hundreds of books.

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Warren Buffett is the world’s greatest and most prominent value investor.  Unlike other highly successful value investors, Buffett spends a large amount of time doing interviews. There have also been thousands of articles written about him and possibly hundreds of books.

Not only is Buffett the world’s most successful investor, he is also the investing world’s biggest celebrity. In some ways, this success has been a doubled-edged sword.

Since Buffett is a larger-than-life celebrity, his interviews stray away from the topic of investing. At the same time, he has produced so many sound bites on the topic of investing, many have lost their true meaning. For instance, almost all investors know Buffett’s first two rules — “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” More often than not, however, I have seen this interpreted as “If I don’t sell, I don’t lose money” — clearly not the right viewpoint at all.

So considering all of the above, in this article I have tried to pull together seven quotes I believe best describe Buffett’s investment process and give essential insight into how the average investor should look for value and high-quality investments. These are not one-liners, they are specifically picked to give as much detail as possible.

How to pick the best businesses:

“I like businesses I can understand. We’ll start with that. That narrows it down about 90%. There are all kinds of things I don’t understand, but fortunately, there’s enough I do understand. You got this big, wide world out there. Almost every company is publicly owned. You got all American business, practically, available to you. Now, to start with, it doesn’t make sense to go with things you think you can[‘t] understand. But you can understand some things. I can understand this (picks up can of Coca-Cola (NYSE:KO)). I mean you can understand this. Anybody can understand this. I mean this is a product that basically hasn’t been changed much since 1886, and it’s a simple business. It’s not an easy business. I don’t want a business that’s easy for competitors. I want a business with a moat around it with a very valuable castle in the middle. And then I want the duke who’s in charge of that castle to be honest and hard-working and able. And then I want a big moat around the castle, and that moat can be various things.

The moat in a business like our auto insurance business at GEICO is low cost. I mean people have to buy auto insurance so everybody’s going to have one auto insurance policy per car, basically, or per driver. And I can’t sell them 20, but they have to buy one. What are they going to buy it on? They’re going to buy it based on service and cost. Most people will assume the service is fairly identical among companies, or close enough, so they’re going to do it on cost, so I gotta be the low-cost producer. That’s my moat. To the extent my costs get further lower than the other guy, I’ve thrown a couple of sharks into the moat.”

 



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