Get Ready For Great Depression 2 (Here Are The Top Reasons Why)
The following is part of an essay posted on the site www.globalwatch.com. Please take a moment of your time to reflect on the severity of the statement:
Get Ready For Great Depression 2 (Here Are The Top Reasons Why)
US population: 305,217,230 (as of Sept. 2008, increasing at the rate of 2.8 million per year)
Number of American adults: about 230 million.
Current US Employed (non-farm W2 payroll): 132.6 million (2/05)
Net non-farm jobs lost since President Bush took office: 1.29 million
By comparison the Clinton Administration created 23 million additional jobs over eight years.
Current US Employed working part time because unable to find full time work: 4.4 million
Total number of US workers unable to find either PT or FT work: 10.3 million (NYT 12/7/08)
Unemployment rate: 6.1% (August, 2008; increasing trend, 5.7% in July)
Young adults (age 16-24) unemployed, out of school, losing hope: 5.5 million
The percentage of men aged 25 - 54 who have gone an entire year without work: 8%
Illegal Immigrants residing in America: 8-20 million (obviously displacing many US workers)
The latest estimates as to the rate that illegal immigrants are arriving is now 3 million per year.
Most of these immigrants are poorly educated and illiterate, severly impacting our education
system and social infrastructure.
US manufacturing jobs lost 2001-2005: approximately 2.3 million !
Due to NAFTA, CAFTA, outsourcing to China, etc.
Total Information Technology jobs lost up to 2005: one million
Net new W2 payroll jobs created or lost (per month):
121,000 new jobs created in July 06
124,000 new jobs created in June 06.
75,000 new jobs created in May 06.
...
159,000 jobs lost in September 08
240,000 jobs lost in October 08
533,000 jobs lost in November (1.91 million total lost this year.)
524,000 jobs lost in December; 7.2% unemployment rate
Net new monthly job growth required so that there will be sufficient jobs for arriving immigrants/graduates: 150,000
(In other words we need to be creating about 2 million new jobs per year just to stay even with population growth.)
Weekly new applications for unemployment insurance ("jobless claims":
312,000 (week ending 8/3/06)
322,000 (week ending 8/10/06)
312,000 (week ending 8/17/06)
...
435,000 (week ending 8/15/08) Compare to two years ago, directly above!!
425,000 (week ending 8/22/08)
445,000 (week ending 8/30/08)
451,000 (week ending 9/06/08)
498,000 (week ending 9/27/08)
478,000 (week ending 10/04/08)
529,000 (week ending 11/22/08)
509,000 (week ending 11/29/08)
575,000 (week ending 12/6/08) -- Largest number in 26 years!!!
554,000 (week ending 12/13/08)
586,000 (week ending 12/20/08) -- Largest number since Nov. 1982!!
492,000 (week ending 12/27/08) -- Good, a shrinking trend; let's hope it keeps shrinking.
467,000 (week ending 1/3/09) -- Continuing to shrink.
Workers continuing to draw unemployment compensation: 4.61 million (as of 12/27/08)
Current Worker Productivity: +8.1% (The higher this number the fewer workers are needed.)
Personal bankruptcies for the 12 months ending March 31, 2005:
1,618,062 (an increase of 2.8% over previous 12 months)
The three worst states in terms of current (3/27/05) unemployment:
Michigan, Rhode Island, South Carolina.
The four best states having gained the most (or lost the fewest) jobs since 2007:
Texas, North Dakota, Wyoming, Alaska.
Average Annual Legal Immigration: 1 million (most need jobs when they arrive)
Average Annual Net Illegal Immigration: 500,000 (estimate)
H-1B Visa holders resident in the US displacing high tech US workers: 900,000
US Citizens entering job market each year (graduation from H.S./college etc.) : approx. 1.4 million
US workers leaving the job pool each year (due to retirement, death, emigration, etc.): ?
Disabled US workers and family members drawing disability (SSDI): 8 million.
Americans living in poverty: 37 million (13 million are children),
may go to 50 million under the current recession!! (NYT edtrl, 11/27/08)
Persons currently on Food Stamps: 31.6 million (NYT 12/7/08)
Americans in jail as of Dec. 31, 2003: 2,212,475
Estimated number of American drug addicts: 11 million
Americans currently without health insurance: 45.7 million (down from 47 million), NYT 08/27/08
(Some of these may be on medicaid.)
Mortgages delinquent or in foreclosure (CNBC, 9/19/08): 5.0 million
Current Federal Minimum Wage: $5.15 (recently increased)
Nominal work week: 40 hours. (We recommend it be reduced to 32.)
Number of mortgages (commercial and residential) outstanding: $14 trillion (Bernanke, 9/24/08)
Brothers and Sisters please make copies of this message and pass it on. It is important that you keep at least one copy for yourself. We must began to prepare ourselves for what's coming down the pike.
One Love,
Siebra
Some folks love this type of 'warning" I for one, know how the game is played. The game is changing and new paradigms are being created,this woe is me stuff is toxic to positivity and has if anything great potential for bringing about change. Ask and you shall receive and God is greater than man..that is why we Christians believe and say, "Greater is He that is in me, than he that is in the world." God Bless.