America's economic decline

24 Signs of Economic Decline in America - Michael Snyder

1. S&P downgraded US Government debt to 'Negative'
2. China reducing holdings of US Dollars
3. Hedge fund manager Dennis Gartman : "panic dollar selling is settling in" - warns US Dollar could be in for huge decline
4. PIMCO (biggest bond fund in world) now shorting US Government Bonds
5. Ghost towns all over USA due to cruel economy
6. 7.25 million jobs less than when recession began in 2007
7. Tough times for average family: only 45.4% of Americans had job in 2010
8. Just 66.8% of American men had job in 2010 (lowest level in US history)
9. Average CEO earned 343 times more money than average American
10. Gas reached $5 / gallon
11. Gasoline rose by about 30% over past 12 months
12. American Airlines lost $436 million in Q1/2011 due to rising fuel costs
13. Households now receive more income from government than pay in taxes
14. 1 out of 4 dollars Government borrows goes to pay Interest on national debt
15. Total home mortgage debt now 5 times larger than 20 years ago
16. Total credit card debt now 8 times larger than 30 years ago
17. Average household debt now 136% of average household income (China: average household debt only 17% of average household income)
18. Average American now spends ~23% of income on Food & Gas
19. 74% of Americans plan to slow spending due to rising prices [Deloitte Consulting]
20. 59% of Americans now receive money from government in one form or another
21. Average length of unemployment now record 39 weeks [Bureau of Labor Statistics]
22. Frustration among young people producing "random acts of violence"
23. Some selling gold in their teeth to raise cash
24. Increased use of Anti-depressants & prescription drugs ($60 billion more in 2010 than 2005)