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Year Ends in Economic Slump: “More Americans Than Ever Living in Poverty”

Original newz story - Click here

This article was written by Michael Snyder and originally published at his Economic Collapse blog.

Editor’s Comment: The Middle Class has all but disappeared. But all the people who used to be in it are still around, struggling more than ever before, joining the ranks of America’s poor and working poor. Where some of the hardest working people in this country are learning to be dependent upon government, and that giving up hope is the best way to get over the blues of the wilting economy and evaporating dreams of a better life.

The only lesson a sane person could learn from the financial disaster that has befallen the United States, is that crime pays for those at the top of the system, who have rigged the economy and stunted the development of millions upon millions of Americans. Such a person would understand that a vibrant Middle Class just isn’t wanted today, that the value of human labor has declined exponentially, and that the future belongs to a tiny class of rulers and exploiters. The situation is bleak, indeed.



58 Facts About The U.S. Economy From 2015 That Are Almost Too Crazy To Believe

by Michael Snyder

The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy.  This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions.  Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016.

Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally.  Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one.

So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…

#1 These days, most Americans are living paycheck to paycheck.  At this point 62 percent of all Americans have less than 1,000 dollars in their savings accounts, and 21 percent of all Americans do not have a savings account at all.

#2 The lack of saving is especially dramatic when you look at Americans under the age of 55.  Incredibly, fewer…