James Schaller, MD
"Think we are in a recovery? I do not. I think we are papering over our problems, with the main street media painting a rosier picture than exist[s.]
Below are a few facts to keep you ahead of the falling empire. The good news? The good news is the EU is worse off than the US, which is cushioning our fall. It may also speed up our demise. But we will catch up to our Euro friends in due time. The info below is from economic data, much of which can be obtained free of charge from the Fed. However, it is impossible for me to believe that the social, cultural, military, and political decline of the country can be completely separated from the economy.
We currently have military forces in engagements in 75 countries (when President Bush departed we were in 48 countries).
We attempt to solve these problems by employing cyclical economic solutions to solve structural problems in the economy. The only groups to benefit from this approach are the banks... Invest accordingly? Caution is advised.
[Invest in what really matters, not merely making money].
According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001. That number dropped to 21.6 percent in 2011.
The United States was once ranked #1 in the world in GDP per capita. Today we have slipped to #14.
Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars
The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.
In the year 2000, about 17 million Americans were employed in manufacturing. Today, only about 12 million Americans are employed in manufacturing.
The number of full-time workers in the United States is nearly 6 million below the old record that was set back in 2007.
If unemployment were measured using the same methodology as was employed prior to the changes implemented during the Clinton presidency, the UE rate is 24% (U6)
In the year 2000, there were only 17 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps."
[This is a highly skilled and successful business person interested and profoundly well researched in economic health in America. He has no political ax to grind. He does have economic issues he feels cannot be ignored, since if wrong changes, it could end the USA as we know it--JS].