Thursday, December 10, 2009

Ho HO HO some good news

This is why we prep. Thanx again MD
U.S. Social Security Will Go Bankrupt in 2010 - Unless there is another Social Security tax increase in 2010, the system will go into red ink mode and stay there. The public has not been informed of this, which comes as no surprise. There have been a few scattered stories on the Web, but nothing sustained. The media do not want to admit that the jointly operated Social Security program and Medicare program are going to bankrupt the Federal government if they are not cut back drastically.

Half of Consumers Surveyed Can't Come up With $2,000 - Yes, there are homeless shelters and food stamps, but the reality of how many are living on the knife-edge financially is not captured in the usual (manipulated and massaged) government statistics.

The reality is better captured by this item from BusinessWeek's December 16 issue:

Almost half (46%) of 2,148 consumers surveyed recently said they weren't confident they could come up with $2,000 within a month in a crisis--from savings, family, friends, credit cards or other sources.

Hunger, family homelessness on rise in U.S. cities - Hunger is spreading while the number of homeless families is increasing as a result of the recession and other factors, according to a report on Tuesday.

The U.S. Conference of Mayors said cities reported a 26 percent jump in demand for hunger assistance over the past year, the largest average increase since 1991.

Middle-class families as well as the uninsured, elderly, working poor and homeless increasingly looked for help with hunger, which was mainly fueled by unemployment, high housing costs and low wages.

Unemployment Decline An Illusion, Financial System Collapse Ahead - Twenty years ago, a father with an average job was able to support an entire family of four or five on one income. Today, both parents need to work, and they are still unable to support their family without getting deeply into debt with credit cards, mortgages, auto loans, and college loans. Less families today have health insurance. Wages have not kept pace with inflation, all we have seen is an increase in debt to meet some of the demand from inflation.

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