In America today, more than 500,000 of us are homeless, about 40 million of us are living in poverty, 50 percent of all workers make less than $33,000 a year, and 70 percent of us have cried about money.
At this point, you have to go back to 2005 to find the last year in which the U.S. economy grew by at least 3 percent.
That means that the U.S. economy has not actually had a “good year” since the middle of the Bush administration.
The central bank’s balance sheet sits at roughly $4 trillion, quadruple its size in 2008.
In fact, most of the people that are transitioning from not having a job to having a job each month did not even count as “unemployed” the month previously…
This year, the portion of people who got jobs each month who wouldn’t even have been counted among the unemployed the month before reached 75 percent. That’s by far the highest it’s been in the last three decades.
Today, more than 100 million working age Americans do not have a job
Meanwhile, productivity growth has been absolutely terrible over the past decade, an increasing share of the economy has become concentrated in corporate hands, and small business creation has continued to collapse.
The number of IPOs has fallen, and there are now half as many publicly listed businesses as there were in the late 1990s.
Millions of young families who tried to save for a home were unable to purchase one, sapped by the toxic combination of high rents and a lack of stock. Throw in sky-high child-care prices, spiraling out-of-pocket health-care fees, and heavy educational-debt loads, and the 2010s crushed a whole generation as it entered its prime earning years.
Over the last ten years we have added more than 10 trillion dollars to the national debt, state and local government debt has soared to record highs all over the nation, corporate debt has risen more than 50 percent, student loan debt has more than doubled and the total amount of U.S. household debt is now nearing 14 trillion dollars.
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