The Coming Economic Hell For American Families

[ktlight]

FYI:


Tens of millions of American families are about to go through economic hell and most of them don't even realize it. Most Americans don't spend a whole lot of time thinking about things like "monetary policy" or "economic cycles". The vast majority of people just want to be able to get up in the morning, go to work and provide for their families. Most Americans realize that things seem "harder" these days, but most of them also have faith that things will eventually get better. Unfortunately, things aren't going to get any better. The number of good jobs continues to decline, the number of Americans losing their homes continues to go up, people are having a much more difficult time paying their bills and our federal government is drowning in debt. Sadly, this is only just the beginning.

Since the financial collapse of 2008, the Federal Reserve and the U.S. government have taken unprecedented steps to stimulate the economy. But even with all of those efforts, we are still living in an economic wasteland.

So what is going to happen when the next wave of the economic crisis hits?

At the end of June, the Federal Reserve's quantitative easing program is slated to end. The U.S. Congress and state legislatures from coast to coast are talking about budget cuts. The amount of borrowing and spending that has been going on is clearly unsustainable, but will the U.S. economy start shrinking again once the current "financial sugar high" has worn off?

Already, all sorts of bad economic news has been coming out and all kinds of economic indicators are turning south. The American people are becoming increasingly restless. One new poll has found that 59 percent of the American people disapprove of Barack Obama's handling of the economy (which is a new high). According to another recent poll, 63% of Americans say that they feel "not good" or "bad" about how the U.S. economy is performing.

If most Americans had good jobs, could afford their mortgages and could pay their bills, the economy would not be such a big issue.

Unfortunately, times are really tough for American families right now and they are about to get a lot tougher.


source for more to read
http://theeconomiccollapseblog.com/archives/the-coming-economic-hell-for-american-families

[crosby]

this is quite a powerful message that many more americans need to read and be aware of. things are not going to get better in the near future, for that matter, probably not in the next two decades, if ever. i believe that when the next wave of crisis comes,which is very soon, people who had not lost their homes and cars during or after the 2008 collapse will be next in line. there will be no middle class left at the end of 2012. you will either be the very rich, or, the very poor. and to top it off, civil liberties are going down the toilet as well. so we will find ourselves in deep despair.

one question that i have is this: what will happen too many of the global retail and service industries? there aren't enough ptw to keep them all afloat. i'm thinking that some major airlines will cease to exist, many retail and service industries will fold, and many professional businesses will die as well. what will that do? a sad way to have to awaken to what is going on, but, for many, this will be the catalyst.
regards, corson

[conk]

The Fed will go back on its word and be forced to effect QE3. This will spark some life into the system for a few months. This will cause commodities to fall, an excellent buying opportunity for precious metals. Then.....hyperinflation will crush us. Swap your US dollars for things you can hold in your hand or land you can stand on and do it NOW.