How The Next Great Depression Will Be Different From The First? About 80% Of Population Will Die
SurvivalDan101.com
December 9, 2016
If and when there is a ‘next’ Great Depression (some may argue that we’ve already entered the next one – although hidden from sight), the question is “How will it be different from the first?”
The current labor force participation rate is somewhere around 62% in the U.S. and the current (NOV-2016) combined U3 & U6 unemployment numbers reflect 22.8% (source: ShadowStats.com). Apparently there are about 41 million people receiving food stamps while nearly 14% of Americans live below the ‘official’ poverty threshold (hinged to income and family size).
The U.S. National Debt is just about to turn over to 20 Trillion dollars. Unfunded liabilities are currently 104 Trillion dollars (source: usdebtclock.org). On average, each household with a credit card carries more than $15,000 in credit card debt, and the average U.S household with debt owes $130,922 (source: time.com).
According to a recent Federal Reserve report, nearly half of Americans couldn’t cover a $400 emergency expense without borrowing the money or selling something. Additionally, almost 30% of people report having a zero balance, and 62% have less than $1,000 in savings, according to a recent survey (source: GOBankingRates.com). An additional 21% report having no savings account whatsoever.
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