We had reversed the recession, avoided a depression, got the economy moving again…
President Barack Obama August 15, 2011 (Transcript) Decorah, Iowa
While the President, his czars and inner circle experts promise Americans that we are well on our way to recovery, Vice President Joe Biden isn’t so sure.
“The unemployed are really in trouble,” Biden said in a campaign stop in Dubuque.
“My grandpop used to say — from Scranton — he said, Joey, the guy in Dunmore, the next town over, when the guy in Dunmore is out of work it’s an economic slowdown. When your brother in law is out of work it’s a recession. When you’re out of work it’s a depression. It’s a depression for millions and millions of Americans.”
But, but, but….
What about the trillions of dollars we added to the national debt that was supposed to create millions of jobs, kick start the economy, and get consumers spending again?
As we and others have maintained for several years, this country is now smack dab in the middle of a Depression. We’ll know in hindsight how bad it really is, but we can be assured that, as trend forecaster Gerald Celente once noted, “it will be like nothing we’ve ever seen in our lifetime.”
Millions of Americans are out of work and no meaningful labor is being created. We have generated more debt in the last tens years in this country than in the entire history of our nation combined. More Americans today are receiving nutritional assistance to help put food on the table than ever before – nearly 50 million of our fellow countrymen. Nearly half of American households now receive some type of government assistance or distribution. The middle class is being rapidly wiped out, with some 40% of Americans’ wealth having been vaporized in just the last three years.
If you aren’t prepared for it – if you don’t have food to feed your family when the income stream stops, or skills that will give you the ability to barter for goods or cash – then you’re going to be in serious trouble.
Vice President Biden is right. Millions of Americans are living through a Depression right now. Those who still have jobs and credit just haven’t realized it yet. But they will.
It’s a depression.
Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.
Please Spread The Word And Share This Post
Mac Slavo Views:
Read by 9,173 people Date: June 27th, 2012 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.
SHTFplan is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.