With 2016 only days ahead, Michael Snyder at the Economic Collapse Blog gave us 58 facts about the financial world of 2015 that he termed 'almost too crazy to believe' while we'll simply say, these facts give us proof we prepare for very good reason. If the world were to suddenly fall apart, these facts help to prove that only a very small percentage of those living now would likely carry on and as we learn in the videos below, 2016 will likely be an economically devastating year for many of us.
Even more concerning is the fact that an estimated 53 percent of all Americans do not even have a minimum three-day supply of nonperishable food and water at home! When you combine that with the fact that an estimated 43 percent of all American households spend more money than they make each month while for the first time ever, middle class Americans now make up a minority of the population, we see a rapidly unfolding recipe for disaster and experts believe 2016 may just be the year that financial armageddon and all it entails is served up cold to the American people.
Some more of the shocking facts that help to prove we're getting ready to fall (actually, pushed) off the financial cliff ahead include the facts that, nowadays, most Americans live paycheck to paycheck with 62 percent of all Americans having less than 1,000 dollars in their savings accounts while21 percent of all Americans do not have a savings account at all. We also learned that there are 900,000 fewer middle class jobs in America than there were when the last recession began, but our population has gotten significantly larger since that time and to make matters even worse, for each of the past six years, more businesses have closed in the United States than have opened. We're also told that prior to 2008, this had never happened before in all of U.S. history.
More of Michael Snyder's devastating list showing us why America is in so much trouble from a financial standpoint despite what we're being told by the mainstream media is below videos.
In the videos below, several experts in the financial world take a look at what 2016 might deliver from both the standpoint of politics and the global financial situation. In the 1st video, Paul Craig Roberts visits with USA Watchdog's Greg Hunter to tell us there'll be no recovery what-so-ever as he also warns us the US is 'stupid enough' to start a nuclear war. Roberts tells us if we look at the real economic numbers, we see things are continuing to worsen.
In the 2nd video from Sgt Report, Andy Hoffman from Miles Franklin joins in to cover the runaway train, snowballing avalanche, out-of-control pandemic that is the “terminal phase” of history’s largest, most destructive fiat Ponzi scheme.
Telling us that the runaway train is now barreling straight down upon us, we learn why it will likely be an economically devastating year for millions of Americans and why, as Paul Craig Roberts tells us, there will be no recovery.
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.
#1These 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.
#2The lack of saving is especially dramatic when you look at Americans under the age of 55. Incredibly, fewer than 10 percent of all Millennials and only about 16 percent of those that belong to Generation X have 10,000 dollars or more saved up.
#3It has been estimated that 43 percent of all American households spend more money than they make each month.
#7In 1970, the middle class took home approximately 62 percent of all income. Today, that number has plummeted to just 43 percent.
#8There are still 900,000 fewer middle class jobs in America than there were when the last recession began, but our population has gotten significantly larger since that time.
#9According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.
#10For the poorest 20 percent of all Americans, median household wealth declined from negative 905 dollars in 2000 to negative 6,029 dollars in 2011.
#11A recent nationwide survey discovered that 48 percent of all U.S. adults under the age of 30 believe that “the American Dream is dead”.
#12Since hitting a peak of 69.2 percent in 2004, the rate of homeownership in the United States has been steadily declining every single year.
#13At this point, the U.S. only ranks 19th in the world when it comes to median wealth per adult.
#14Traditionally, entrepreneurship has been one of the primary engines that has fueled the growth of the middle class in the United States, but today the level of entrepreneurship in this country is sitting at an all-time low.
#15For each of the past six years, more businesses have closed in the United States than have opened. Prior to 2008, this had never happened before in all of U.S. history.