Americans are feeling the consequences of years of disastrous economic policy, but the severity of the problem in real terms is staggering!
Michael Snyder shares some shocking facts about this struggle that might seem funny if they weren’t happening right now. Here are ten ways to end the phrase, “Americans are so broke…”:
Yes, things are going fairly well for the elitists that live in the good areas of New York City, Washington D.C. and San Francisco right now, but most of the country is deeply struggling as our economic fundamentals continue to crumble. Please share these numbers with as many people as you can, because we need people to understand that there has not been an “economic recovery” for most of America. In fact, in many ways things just continue to get even worse. The following are 21 ways to end the phrase “Americans are so broke”…
1. Americans are so broke that about a third of them have debt collectors on their heels. One recent study discovered that more than one out of every three adults in the United States has an unpaid debt that is “in collections“. That is a total of 77 million people. In other words, the debt collection business in America is absolutely booming.
2. Americans are so broke that Congress is now actually considering allowing post offices to provide payday loans and check cashing services.
3. Americans are so broke that they are keeping their vehicles longer than ever. The average age of vehicles on America’s roads recently set a new all-time high of 11.4 years.
4. Americans are so broke that car dealers are having to go to extreme lengths to get new customers. Last year, one out of every four auto loans in the United States was made to someone with subprime credit.
5. Americans are so broke that 52 percent of them cannot even afford the homes that they are living in right now.
6. Americans are so broke that they are falling farther behind on their student loans than ever. The total amount of student loan debt in the U.S. has now reached a whopping 1.2 trillion dollars, and approximately seven million Americans are in default on their student loans at this point.
7. Young Americans are so broke that half of all college graduates are still relying on their parents financially when they are two years out of school.
8. Young Americans are so broke that only 36 percent of American adults under the age of 35 currently own a home. That is the lowest level that has ever been recorded.
9. Americans are so broke that many of them can’t even afford to shop at Wal-Mart and dollar stores anymore…
10. Americans are so broke that they are running up record levels of debt. Overall, U.S. households are 11.68 trillion dollars in debt right now.
1. Americans are so broke that about a third of them have debt collectors on their heels. One recent study discovered that more than one out of every three adults in the United States has an unpaid debt that is “Sadly, these are just 10 ways to end this disheartening phrase. For 11 more, check out Michael’s article over at The Economic Collapse Blog.
Photo: Political Connection
That’s why they need foreign monies to make up the difference. Their Beast is consuming it all.
America is so broke that we have a gay black muslim for a president.
They can’t “Pay” attention or “Change” their minds!!
End state. This problem would self correct without government.
We are the other people
Lots of americans are just following he example shown to them by the federal government. Borrow, borrow, borrow, then borrow some more.
sp broke we cant pay attention
Man Im so glad that I get to grow up as a young 22 year old adult in this day in age. My generations financial future is really looking promising right now! We may not ever be able to afford homes because of the debt we’ll inherit, but heck who needs homes anyways? Homes are only for the older generations in this country. Us young people are just going to have to learn how to live in apartment complexes for the rest of our lives. That way we can at least afford to pay for our seniors social security benefits. I mean they need those benefits so its only right for us younger people to pay for them! So what if social security won’t exists when were all older? Its not like were entitled to anything in the future so why stress out about it? As long as we can pay for those who are eligible to receive SS benefits than everything is going to be great.
STUUUUUPID!
ummm.. wonder what happened to hope and change? The middle class has disappeared. our political system is in trouble right now but we can change it and there will be hope in a couple of years. Hang on