15 Facts About The Imploding U.S. Economy That The Mainstream Media Doesn’t Want You To See
By Michael Snyder
Source: The Economic Collapse Blog
http://www.thetradingreport.com/2016/06 ... ou-to-see/
The difference between yields for long-term and short-term bonds has been shrinking.
A so-called flat yield curve, which is the term for when there isn’t much difference between short and long-term rates is often an indicator used by economists to predict an oncoming recession.
Short-term interest rates have risen above long-term interest rates before each of the last seven recessions.
One of the industries that had been doing fairly well during this recovery was the auto industry, but now in early 2016 they have found themselves struggling too…
Now, the auto sector, which has propped up GDP growth for years, is slowing down. For the first six months, total car and light truck sales, at a seasonally adjusted annual rate (SAAR) of 17.5 million vehicles, are lagging behind last year by 100,000 units. Over the first half, fleet sales to rent-a-car companies and big fleet buyers were up industry wide. But retail sales fell 2%.
Every month, the U.S. economy must create at least 150,000 new jobs just to keep up with population growth.
In America today, there are 7.8 million Americans that are considered to be officially unemployed, and another 94.3 million working age Americans that are considered to be “not in the labor force”.
When you add those two numbers together, you get a grand total of 102 million working age Americans that do not have a job right now.
Since the year 2000, the United States has lost five million manufacturing jobs even though our population has grown substantially since that time.
Back in 1960, 24 percent of all American workers worked in manufacturing. Today, that number has shriveled all the way down to just 8 percent.
Workers transitioned from the fields to the factories. Now they are moving from factories to service counters and health care centers.
The fastest growing jobs in America now are nurses, personal care aides, cooks, waiters, retail salespersons and operations managers.
At this point, the total number of government employees in the United States exceeds the total number of manufacturing employees by almost 10 million…
We have been running a yearly trade deficit of between 400 billion dollars and 600 billion dollars for many years…
When you have got about half a trillion dollars more going out than you have coming in year after year that has severe consequences.
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