As we speak, the recovery story is completely falling apart as we predicted. Even using official government data, long term unemployment is at a record. Six million people have been out of work for over 6 months and the average duration of unemployment is currently 41 weeks, according to the Bureau of Labor Statistics (BLS).
Just to give you an idea how ridiculous the recovery propaganda has been, the current long term unemployment is double what it was following the recessions of the 1980s, 1990s, and early 2000s.
In total, according to the BLS, there are 14 million Americans unemployed and 9.3 million working part time who want a full time job. There are also 2.5 million people who gave up looking for work who are no longer included in the 9.1% official unemployment rate. When you add it all up, officially unemployed, those who want a full time job but may be working just a few hours, and of course those who have given up, the real unemployment number is at least 25.8 million people who want a full time job. That is nearly 20% of the entire labor force. Which makes sense since when polled byGallup, a polling company that is extremely accurate when it comes to national elections, they come up with a number right around 20% when polling Americans who say they are unemployed.
With the structural problems we face from too much government and a federal reserve system that stacks the deck in the favor of the elite,FutureMoneyTrends.com believes that our nation faces a new normal. Of course before we even begin to talk about facing a new normal, it is going to get a lot uglier.
Suburban Poverty Surges
Friday we came across a Yahoo article with the headline, “More Americans than Chinese can’t put food on the table.” Did we expect this, yes, but not this early. In the article it talked about the number of Americans who lack access to basic necessities like food. What the stats show from Gallup is very disturbing, especially for those who thought the recovery was in full swing. More Americans actually lack basic necessities now than at the peak of the official Great Recession. In fact, the number of Americans struggling to put food on the table is now 3X higher than the amount of the Chinese population in the same position.
When asked,”have there been times in the past 12 months when you did not have enough money to buy food that you or your family needed,” 3 years ago 16% of Chinese citizens said yes, while only 9% of Americans said yes. Today, just 6% of Chinese answered that they did lack enough money for food in the past 12 months, while the number for Americans was more than doubled to 19%!
In the same poll, Americans were also asked if they had enough money for adequate shelter, this number rose from 6% in 2008 to 11% in 2011.
Prepare for the Future
FutureMoneyTrends.com believes that everyone should do what they can to be the VERY BEST at what they do. Whether you have a job or a business, you need to bring your ‘A’ game everyday, the quality of our work will help protect us and our families over the next 15 years as our world goes through structural imbalances.
Those that are holding off for the perfect job are making a GRAVE MISTAKE and may end up being part of the permanent unemployment class. FutureMoneyTrends.com believes that the real unemployment rate is currently around 20%, however, we believe that over this decade it will average 25%.
Profiting from knowing the future is what our goal is, however, nothing is more important than protecting yourself first.