The Cruel Economy / Poverty

[Doka]

37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families

The following are 37 facts that show how cruel this economy has been to millions of desperate American families…

1. One recent survey discovered that 40 percent of all Americans have $500 or less in savings.

2. A different recent survey found that 28 percent of all Americans do not have a single penny saved for emergencies.

3. In the United States today, there are close to 10 million households that do not have a single bank account. That number has increased by about a million since 2009.

4. Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.

5. The number of Americans living in poverty has increased by about 6 million over the past four years.

6. Median household income has fallen for four years in a row. Overall, it has declined by more than $4000 over the past four years.

7. 62 percent of middle class Americans say that they have had to reduce household spending over the past year.

8. According to a survey conducted by the Pew Research Center, 85 percent of middle class Americans say that it is more difficult to maintain a middle class standard of living today than it was 10 years ago.

9. In the United States today, 77 percent of all Americans are living to paycheck to paycheck at least some of the time.

10. In the United States today, more than 41 percent of all working age Americans are not working.

11. Since January 2009, the “labor force” in the United States has increased by 827,000, but “those not in the labor force” has increased by 8,208,000. This is how they have gotten the unemployment numbers to “come down”.

12. Sadly, 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

13. Today, about one out of every four workers in the United States brings home wages that are at or below the federal poverty level.

14. Right now, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.

15. At this point, less than 25 percent of all jobs in the United States are “good jobs”, and that number continues to shrink.

16. There are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.

17. According to USA Today, many Americans have actually seen their water bills triple over the past 12 years.

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

19. In 1999, 64.1 percent of all Americans were covered by employment-based health insurance. Today, only 55.1 percent are covered by employment-based health insurance.

20. Health insurance premiums rose faster than the overall rate of inflation in 2011 and that is happening once again in 2012. In fact, it has been happening for a very long time.

21. According to one recent survey, approximately 10 percent of all employers in the United States plan to drop health coverage when key provisions of the new health care law kick in less than two years from now.

22. Back in 1983, the bottom 95 percent of all income earners had 62 cents of debt for every dollar that they earned. By 2007, that figure had soared to $1.48.

23. Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

24. Total consumer debt in the United States has risen by 1700 percent since 1971.

25. Recently it was announced that total student loan debt in the United States has passed the one trillion dollar mark.

26. According to one recent survey, approximately one-third of all Americans are not paying their bills on time at this point.

27. Right now, approximately 25 million American adults are living at home with their parents.

28. The percentage of Americans that find that they are able to retire when they reach retirement age continues to decline. According to one new survey, 70 percent of middle class Americans plan to work during retirement and 30 percent plan to work until they are at least 80 years old.

29. The U.S. economy lost more than 220,000 small businesses during the recent recession.

30. In 2010, the number of jobs created at new businesses in the United States was less than half of what it was back in the year 2000.

31. Back in 2007, 19.2 percent of all American families had a net worth of zero or less than zero. By 2010, that figure had soared to 32.5 percent.

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

33. In the United States today, somewhere around 100 million Americans are considered to be either “poor” or “near poor”.

34. In October 2008, 30.8 million Americans were on food stamps. Today, 46.7 million Americans are on food stamps.

35. Approximately one-fourth of all children in the United States are enrolled in the food stamp program.

36. Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government. And that does not even count Social Security or Medicare.

37. According to the U.S. Census Bureau, an all-time record 49 percent of all Americans live in a home where at least one person receives financial assistance from the federal government. Back in 1983, that number was less than 30 percent.

MORE HERE: http://www.globalresearch.ca/37-facts-a ... es/5309938

[Raggedyann]

Richest 62 people as wealthy as half of world's population, says Oxfam

Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening

The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the world’s population.

Timed to coincide with this week’s gathering of many of the super-rich at the annual World Economic Forum in Davos, the report calls for urgent action to deal with a trend showing that 1% of people own more wealth than the other 99% combined.

http://www.theguardian.com/business/201 ... n-combined

[Riddick]

“Too Big to Fail Too Big to Jail” Banks Trigger Foreclosures, Bankruptcies and Poverty
By Prof Michel Chossudovsky @ globalresearch.ca

EXCERPTS

“Hundreds of poor people waiting outside of a closed grocery store for the possibility of getting the remaining food is not the picture of the “American Dream.” Yet on March 23, outside the Laney Walker Supermarket in Augusta, Ga., that is exactly what happened.”

The grocery store in Augusta, Georgia is one among thousands of small businesses across the Southern States which are routinely speared-headed into bankruptcy.

SunTrust Bank had ordered the eviction of the owner and the confiscation of all the assets. SunTrust bank is a subsidiary of Suntrust Bank Inc. It is among the largest banks in the US with assets in excess of US$170 billion. It operates more than 1600 bank branches across the Southern states.

What SunTrust has inflicted on the residents of Augusta, Georgia is part of a broader pattern of abuse and financial manipulation.

SunTrust was among the main financial actors involved in the Housing and Mortgage meltdown which swept across the US at the height of the financial crisis.

Based on recent data, SunTrust continues to trigger foreclosures and bankruptcies of small and medium sized enterprises.

SunTrust is among the ten top banks currently foreclosing the most homes in the US together with Bank America, JPMorgan Chase, New York Mellon and Citigroup.

Thousands of households which had mortgages with SunTrust continue to lose their homes as a result of the bank’s foreclosure procedures. These families have been precipitated into poverty.

The practices of SunTrust Mortgage (an affiliate of SunTrust) are well documented in complaints filed with the Better Business Bureau. Comments by SunTrust customers pertaining to Mortgages recorded on the Consumer Affairs website point to a practice of paperwork manipulation:

“Good luck to all who have to deal with this nightmare of a bank!”

“They should be charged with some criminal fraud for misrepresentation.”

We did everything the right way and have only gotten 14 months of lies and running in circles.

What they are doing should be against the law. They just play with your emotions!

To read more than 180 complaints directed against SunTrust click here

RELATED
Too Big To Fail, And Only Getting Bigger
Ever since the global financial crisis, the five largest U.S. banks have managed to grab hold of more of the financial sector than ever before - increasing their assets by over 150 percent in just the past 8 years.

[Raggedyann]

On the 60 Minutes program last night they had on a segment about insurance companies that withhold life insurance pay outs if the beneficiaries do not apply for the pay out. So if a person has no idea they are a beneficiary in old Uncle Joe's policy, they are out of luck. The Government has been auditing these crooks and they owe billions. All the big insurance companies have been doing this. Currently they are fighting an order to pay all the folks they've ripped off as they say that it is unfair and would cause them "hardship".

I despise paying insurance for anything because I know that me, or my family will have to fight tooth and nail to receive a pay out.

On a personal note: I have a pension cash payout coming due next year from the International Woodworkers of America. A year ago, I and 2000 others received a letter from them telling us that they couldn't afford to pay us. So basically we can take our legal contract and throw it in the garbage, even though we paid into this fund for years. We banded together through Facebook and consulted the best pension litigators in the country to start a class action suit. As soon as the IWA were notified of this they changed their mind and are now going to pay us. Oh and the IWA had the official blessing and recommendation from the BC Government to try and stiff of us out of our hard earned money.

It seems that we ordinary folks are at the mercy of all corporations for however outrageous way they decide to screw us over and our Governments cheer them on.

[Riddick]

I despise paying insurance for anything because I know that me, or my family will have to fight tooth and nail to receive a pay out.

[Raggedyann]

Good one!

[kbot]

37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families

10. In the United States today, more than 41 percent of all working age Americans are not working.

Flies in the face of the "official" mantra Doka. According to the Obama fans, unemployment is the "best evah!!!!!!!!!" Hillary will tell you so as well......

[Doka]

Big Gvernment + Big Corporations = Poverty for the slaves (US), that is us, folks! What did you expect? Some have been voting for Big Government, under the guise of being Liberal/Progressive, for years, doesn't matter rather Dem or Repub. It is the ideology of those that come to power, some where quite "sweet" I'm sure. Most don't know beans about what some of these "labels" mean. I don't put all blame on the voter but, surely some blame is our own. We are so easily led by our own guilt and greed. And the powers that be , know this very well. Know we are stuck on the "fly paper". Some will learn , some will just blame and become more "bitter" which are you going to be?

[Doka]

37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families

10. In the United States today, more than 41 percent of all working age Americans are not working.

Flies in the face of the "official" mantra Doka. According to the Obama fans, unemployment is the "best evah!!!!!!!!!" Hillary will tell you so as well......

For those who "swallowed the cool aid" are in for a BIG SHOCK! Reality is a "bitch".

[Riddick]

The Middle Class Is Now A Minority

If it feels like it's getting tough out there, it's because it is. According to research from Pew, household spending has increased due to the higher costs of necessities, while household income has declined.

The result is that the middle class is being caught in a double bind of rising prices and falling purchasing power. This is in turn fueling the rise of the poor in America, who now outnumber the middle class. FULL STORY

[Riddick]

[voguy]

Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening

The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the world’s population.

So how do we do that?

How do we keep the rich from hiding their money, or for that matter taking it off our shores?

While I don't disparage those who got wealthy from hard work, I think the bigger problem is the wealth is being stripped from our counties at the expense of citizens. If billionaires were required to keep their wealth in their country of citizenship, and their business had to be in their state/province of occupancy, then the money would stay put.

Let's not forget that everything that they are doing is above the board for the most part, and it's legal because someone in government passed a law to say it's OK. And someone in government has allowed a US or Canadian citizen to conduct a factory and business in China, and not employ our own country's citizens. The reason these people are wealthy is not because they have done anything illegal.

Our focus should be on forcing politicians to remove loopholes and these rackets allowing for wealth to be gained through the employment of non citizens, while other counties enjoy the funds.

[Doka]

Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening

The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the world’s population.

So how do we do that?

How do we keep the rich from hiding their money, or for that matter taking it off our shores?

While I don't disparage those who got wealthy from hard work, I think the bigger problem is the wealth is being stripped from our counties at the expense of citizens. If billionaires were required to keep their wealth in their country of citizenship, and their business had to be in their state/province of occupancy, then the money would stay put.

Let's not forget that everything that they are doing is above the board for the most part, and it's legal because someone in government passed a law to say it's OK. And someone in government has allowed a US or Canadian citizen to conduct a factory and business in China, and not employ our own country's citizens. The reason these people are wealthy is not because they have done anything illegal.

Our focus should be on forcing politicians to remove loopholes and these rackets allowing for wealth to be gained through the employment of non citizens, while other counties enjoy the funds.

Most EXCELLENTLY STATED, Voguy!

Most do not understand the double-edged sword that we live well under. They tend to hate the rich and the corporations the end. Without the rich and the corporations there is NOTHING BUT poverty. We need what they offer, jobs, opportunities to create more Rich and more Corporations, more goods and services , that is the very STIMULUS needed to create a larger "middle class" better paying jobs. On and on to a better life for all.

Our politicians, governments by their lack of overcite have created the biggest "Ponzi" schemes in the history of the world, IN THEIR FAVOR, not ours. People have been totally brainwashed that wealth of any kind is evil, not true. The greedy government and politicians have bled the wealth out of this country to bring us (the people) to our knees, for their New World Order. HE WHO MAKES THE RULES HAS THE GOLD!

Scream for more money , but kill the hated provider. You can not have it both ways!

[Riddick]

Without the rich and the corporations there is NOTHING BUT poverty. We need what they offer, jobs, opportunities to create more Rich and more Corporations, more goods and services , that is the very STIMULUS needed to create a larger "middle class" better paying jobs. On and on to a better life for all.

That's been the theory. Yet, as we've found out from too big to fail/ too big to jail, TOO MUCH of a good thing isn't necessarily better than or as good as just enough.

Big corporation/big government collusion comes from being two sides of the same bad penny that keeps turning up, as time and time again the K Street/Wall Street revolving door leads primarily to more for The Big Club and less for everyone else.

Watching the election we see clearly the DC Establishment doesn't like competition, Same way Big Biz. Between the two, they create opportunities to get even bigger. Working class and small business folk get the short end. Free trade? That's a laff.

The table is tilted, the game is rigged. And middle class extinction is a bi-product.

[Doka]

Without the rich and the corporations there is NOTHING BUT poverty. We need what they offer, jobs, opportunities to create more Rich and more Corporations, more goods and services , that is the very STIMULUS needed to create a larger "middle class" better paying jobs. On and on to a better life for all.

That's been the theory. Yet, as we've found out from too big to fail/ too big to jail, TOO MUCH of a good thing isn't necessarily better than or as good as just enough.

Big corporation/big government collusion comes from being two sides of the same bad penny that keeps turning up, as time and time again the K Street/Wall Street revolving door leads primarily to more for The Big Club and less for everyone else.

Watching the election we see clearly the DC Establishment doesn't like competition, Same way Big Biz. Between the two, they create opportunities to get even bigger. Working class and small business folk get the short end. Free trade? That's a laff.

The table is tilted, the game is rigged. And middle class extinction is a bi-product.

That all be true we have system that is broken and corrupt. Our particular Republic was set up in a way that was the best of it's time. A rather small, lean government to do the will of the people through their voting and petitioning of the higher courts etc ,to keep us safe, with rules, and laws to protect us that is the only things they where meant to do ! States where pretty much autonomous. As governments get bigger they become greedy and corrupt ,they become like a cancer of uncontrolable cells. Our goernment is out of control, if it had been doing it's job with the Corporations, this mess would not have happened, now they are so in bed with each other, it is difficult to tell one from the other. But, you need to notice that the corporations are "hand picked" certain ones are to be left to fail. Main Street and small corporations are dropping like sprayed flys. Our Constitution (Rules) has become trash.

As long as there are humans on this Prison Planet of ours there is going to be problems ,as most have not evolved out of the infant stage yet. Or we would not be here.