Reasons the economy is collapsing

The following are 40 bizarre statistics that reveal the truth about the collapse of the U.S. economy

1 – According to one shocking new survey, 28% of U.S. households have at least one member that is looking for a full-time job.
2 – A recent Pew Research survey found that 55 percent of the U.S. labor force has experienced either unemployment, a pay decrease, a reduction in hours or an involuntary move to part-time work since the recession began.
3 – There are 9.2 million Americans that are unemployed but that are not receiving an unemployment insurance check.
4 – In America today, the average time needed to find a job has risen to a record 35.2 weeks.
5 – According to one analysis, the United States has lost 10.5 million jobs since 2007.
6 – China’s trade surplus (much of it with the United States) climbed 140 percent in June compared to a year earlier.
7 – This is what American workers now must compete against: in China a garment worker makes 86 cents an hour and in Cambodia a garment worker makes 22 cents an hour.
8 – According to a poll taken in 2009, 61 percent of Americans “always or usually” live paycheck to paycheck. That was up from 49 percent in 2008 and 43 percent in 2007.
9 – According to a recent poll conducted by Bloomberg, 71% of Americans say that it still feels like the economy is in a recession.
10 – Banks repossessed 269,962 U.S. homes during the second quarter of 2010, which was a new all-time record.
11 – Banks repossessed an average of 4,000 South Florida properties a month in the first half of 2010, up 83 percent from the first half of 2009.
12 – According to RealtyTrac, a total of 1.65 million U.S. properties received foreclosure filings during the first half of 2010.
13 – The Mortgage Bankers Association recently announced that demand for loans to purchase U.S. homes has sunk to a 13-year low.
14 – Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
15 – 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.
16 – Back in 1950 each retiree’s Social Security benefit was paid for by 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025 it is projected that there will be approximately two workers for each retiree.
17 – According to a new poll, six of 10 non-retirees believe that Social Security won’t be able to pay them benefits when they stop working.
18 – 43 percent of Americans have less than $10,000 saved for retirement.
19 – According to one survey, 36 percent of Americans say that they don’t contribute anything to retirement savings.
20 – According to one recent survey, 24% of American workers say that they have postponed their planned retirement age in the past year. (Source: Party of Know)

Go to the source to see all forty reasons.

So how’s that “hope and change” moving us towards socialism working out for you?

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