The Invisible Depression Is Here Are You Ready?
The Great Depression that Federal Reserve Chairman Big Ben Bernanke claims to have
averted has been part of the background radiation of our economy since at least 2008. Its just that, like radiation, its invisible. We have been so naive as to call this a recovery, a jobless recovery, which is a recovery that never was. We have been misled by the media that the Great Recession ended in 2009. That friend is a fairy tale, because the melt down continues to lead us into a deeper depression or a new recession. Historians will for surely call this period, starting in 2007 to 2022, a period of an invisible depression.
Nothing has changed, improved or reversed these path of economic destruction. We have the highest unemployment in 60 years. A banking crisis with banks continuing to fail, the Euro meltdown, and record bankruptcies. This year 200,000 American used their tax refunds to file bankruptcy. If you are still alive and unscathed it is difficult to see a depression, not everyone has to be on a soup line during a depression. Now 48 million Americans receive food stamps, by 2015 we could see 68 million.
The National Debt is climbing to over $16 trillion by year's end at this current pace. The Associated Press reports poverty levels, are over 16%, worse than the 1960's, which would wipe out all the gains made by Lyndon Johnson's War on Poverty. Poverty is another word for chronic unemployment in an economy that has not produced good paying jobs for decades. Outsourcing, illegal immigration and the Wall Street Scams have created irreparable damage. Half the jobs in the nation pay less than $34,000 a year, noted Peter Edelman, author of So Rich, So Poor: Why Its So Hard to End Poverty in America Weve been drowning in a flood of low-wage jobs for the last 40 years.
So what do you call an epidemic of rising poverty? An invisible depression, creating a nation of chronically unemployed Americans. As the economy keeps melting we hear fears of Congress gone mad by year's end. States and local governments are strangled by massive deficits, leading 3 California cities to recently file for bankruptcy. Europe continues to meltdown with the U.S. having lost its AAA debt rating last year. This isnt the definition of a recovery, but a worsening invisible depression.
Real estate market's continue to sputter and lose ground. Banks are buried in foreclosed home inventory, that can't be counted. The imaginary fairy tale cure for our melting economy has been to allow the depression to be invisible with taxpayer bailouts and useless Fed interventions. Americans bought into the QE1,2,3, recession, recovery, having delayed a 1929 crash in favor of a depressingly slower one. Don't be fooled, the damage will take America to its knees. Gold and silver is the only safe ground to weather this storm. There is no other way! You have now run out of time!
How much did the financial crisis cost? No one knows because it is just getting started. There are over 12,500,000 unemployed not saving for retirement. Hand outs and bail outs are over $23 trillion with no end in sight. Llost household wealth is over $7 trillion in real estate, 11 trillion in stock market losses, and IRA's have lost over $3.4 trillion. The human suffering of this financial Armageddon is immeasurable with 48 million+ on food stamps and 15%+ of the population at the poverty level.
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