The Middle Class Recession

Filed in Debt, economy, Gold, GOld juniors, recession by on September 21, 2010 0 Comments

According to the National Bureau of Economic Research, the longest recession since World War II officially ended in June 2009. That’s the good news. The bad news is that nobody really believes it. As this chart from Gluskin and Sheff’s David Rosenburg shows, it really is different this time. Meanwhile, the combination of government and globalism is working to kill the goose that laid the golden egg—-a.k.a. The Middle Class. To that end please consider the following set of statistics from The Economic Collapse: The following are 15 shocking poverty statistics that are skyrocketing as the American middle class continues to be slowly wiped out…. #1 Approximately 45 million Americans were living in poverty in 2009. #2 According to the Associated Press, experts believe that 2009 saw the largest single year increase in the U.S. poverty ratesince the U.S. government began calculating poverty figures back in 1959. #3 The U.S. poverty rate is now the third worst among thedeveloped nations tracked by the Organization for Economic Cooperation and Development. #4 According to the U.S. Department of Agriculture, on a year-over-year basis, household participation in the food stamp program has increased 20.28% . #5 The number of Americans on food stamps surpassed 41 million for the first time ever in June. #6 As of June, the number of Americans on food stamps had set a new all-time record for 19 consecutive months . #7 One out of everysix Americans is now being served by at least one government anti-poverty program. #8 More than 50 million Americans are now on Medicaid, theU.S. government health careprogram designedprincipallyto helpthe poor. #9 Oneout of everyseven mortgages in the United States was either delinquent or in foreclosure during the first quarter of 2010. #10 Nearly10 million Americans now receive unemployment insurance, which is almostfour times as many as were receiving it in2007. #11 The number of Americans receiving long-term unemployment benefits has risen over 60 percent in just the past year. #12 According to onerecent survey, 28% of all U.S. households have at least one member that is looking for a full-time job. #13 Nationwide, bankruptcy filings rose 20 percent in the 12 month period ending June 30th. #14 More than 25 percent of all …

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The Middle Class Recession

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