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Manufacturing employment in the U.S. peaked in June 1979 with 19,553,000 jobs, and by July of this year manufacturing employment had fallen to 11,817,000, the lowest level of manufacturing jobs since April 1941.

As a percent of the total labor force, manufacturing employment fell below 9% in July, the lowest level in BLS history (back to 1939).

Delinquency and foreclosure rates for U.S. mortgages continued to rise in the second quarter, with loans to the most qualified borrowers going bust at an unnerving clip, especially in hard-hit states such as Florida and California.

The quarterly National Delinquency Survey showed that almost one in 10 homeowners with a mortgage was at least one payment late, and thus delinquent, while another 4 percent had entered the foreclosure process on their loan.

The Federal Deposit Insurance Corp. reported late last week that the fund that insures some $4.5 trillion in U.S. bank deposits fell to $10.4 billion at the end of June, as the list of failing banks continues to grow. The fund was $45.2 billion a year ago, when regulators told us all was well and there was no need to take precautions to shore up the fund.

- yawn -

WE'RE ALL DEAD!!!

Originally posted by Evil Dead
- yawn -


Of course you still live with your parents. Why would you care.

Thats why the human race is called such, its a race to jump of the cliff into oblivion

Very well written as I take a second look at it, people should really read this and become a bit more open minded to the serious nature of the truth to the fact that the American economy is dying... and Britain is following close on the heels.

I fact the world economical system, dominated by the Dollar is eventually going to be stood on its head, the US and other western countries could be the ones with famine and rioting in the future!!

Tard got banned.

Why was he banned? I see no spamming he was merely using multiple posts to organise better, and another thing, he didn't plagerise he put his sources down... maybe its the government trying to snuff out all truth!

Originally posted by ChakraStrings
maybe its the government trying to snuff out all truth! You all never fail to make me laugh.

Too bad NW got banned because I wanted to let him know that he came across an interesting point here upon the recession that I never considered as being a possibility. But I am a bit puzzled by how some of these occurrences reflect on a possible plot financially. The charts make sense but not in his alternative perspective really. The logic of spending for consumer spending and failing at the same time kind of....numbs my mind.

Again, too bad he was banned. I would love to hear more.

He's copy and pasted lots of shit, which wastes memory on the server.

He could've just posted the links which he did anyway, but he's such a douche he posted everything anyway.

Why?

Because he's a douche. Deserved to get banned.

it's a recession, we had the happy profitable good times, now it's time for the bad time, it's happenned before, it'll happen again, its newtonic, every action has an opposite and equall reaction.
as for the economy crash in america, it is indeed far worse than they were letting on, america owes shits load of money to just about everone, and have done a somewhat decent job of covering it up. funny thing is above all the money they owe china is just about number one on that list. if china was smart they wouldn't invade, just tell america they want their debt paid, and boom instant economical crash of america. It's been a long time coming, and we most likely will go down with them (Canada) but america is no longer #1 they are merely riding an illusion of power

Originally posted by The big EH
...but america is no longer #1 they are merely riding an illusion of power

I like that line.

Originally posted by The big EH
it's a recession, we had the happy profitable good times, now it's time for the bad time, it's happenned before, it'll happen again, its newtonic, every action has an opposite and equall reaction.
as for the economy crash in america, it is indeed far worse than they were letting on, america owes shits load of money to just about everone, and have done a somewhat decent job of covering it up. funny thing is above all the money they owe china is just about number one on that list. if china was smart they wouldn't invade, just tell america they want their debt paid, and boom instant economical crash of america. It's been a long time coming, and we most likely will go down with them (Canada) but america is no longer #1 they are merely riding an illusion of power

Except for the fact that China's economic growth is almost entirely dependent upon America's debt. Without the trade, China would go back to a poor communist state and be extremely unstable (Just like the USSR breakup)

Originally posted by The big EH
funny thing is above all the money they owe china is just about number one on that list. if china was smart they wouldn't invade, just tell america they want their debt paid, and boom instant economical crash of america.

That's not how it works. It's true that the U.S. owes the most to China but it's hardly something unique to the U.S. to owe money to many countries. The global economic system consists of many countries investing (read: LENDING) in other countries. Canada does the same.

Have you ever bought (invested) in bonds? That's how it is with international investing. Bonds have a fixed payment date that is contractually created. Unless there are certain provisions in place China just can't say "oh we want our money back" they will get paid on the time indicated on the bond. Indeed, the debt to China continues to grow because China continues to be **willing and eager** to spend their own money and invest in the United States.

Also, if you are smart, you would never want to see an "economical crash" of the U.S. (and I'm not saying that you do, as I assume you are one of our friendly northern neighbors...) So much of Canadian stability and security relies on the well-being of the U.S....

...(...but in case you do secretly hope to see the U.S. fall into distress) or would you rather see us be taken over by China, our natural resources annexed and our government stripped away, our industrial capacity harnessed, and our army, navy, air force, coast guard and arsenal of nuclear weapons, all be at the command of a foreign power whose 6 largest provincial capital cities contain the same number of people as all of Canada....right at your doorstep?

i know every country does it, but america is in the most debt

it was planned by the fed, it was realised{unwillingly} by the greedy gamblers at wall street. BOTH of which are respresentatives of the concentrations of corporate power in the us. so this doesnt even count as a conspiracy.

oh who got a laugh out of bernanke being named MAN OF THE YEAR?!!?

Originally posted by (>^^)>
i know every country does it, but america is in the most debt

The US, however, has a massive population and a strong GDP. In terms of debt per person that US isn't in the top five, in terms of percentage of GDP the US is number five (if you count only major nations) or number fifteen (if you count all of them).

A large national debt isn't good, certainly, but it's always good describe the data in a more meaningful way.

Its not recession but planned demolition so it means things aren't getting better; they're getting worse.The basic problem is that consumers are buried beneath a mountain of debt and have no choice except to curtail their spending and begin to save.