From 2005 – 2009, average US household wealth declined by 28% or $27,000 per household .
62 million Americans 20% of US households, have zero or negative net worth.
National Academy of Science data shows that 52,765,000 Americans, 17.3% of the population, lived in poverty in 2009.
The US Census poverty figure is lower because they use metrics developed in 1955 that amongst other things say medical care in 2011 is cheap.
18.8 million American children live in poverty in 2009, which is 24%, or nearly one in four. Source: The National Academy of Science.
The number of children in poverty increased 28% since 2000, and jumped 10% from 2008 to 2009.
The total number of Americans living in poverty will increase to 105 million using the National Academy of Science data if we assume Austerity budget cuts to anti-poverty programs.
In 2005, 25.7 million Americans received food stamps. Today 45.8 million do.
Congress has responded to the additional need for food stamps by cutting the food stamp program despite rising food costs meaning families will have less to eat each month.
The cuts come as 22.5 additional Americans need food stamps for a total of 68.3 million people.
Food prices increased 39% over the past year and gas prices increased 34%.
The real number of unemployed is at an all-time record total of 34 million people which puts the unemployment rate at 22.5%.
The labor force participation rate has fallen to a 27-year low of 63.9%.
An all-time record 6.3 million people have been unemployed for over six months.
The average time it takes for a person to find a job has also just hit an all-time high of 40.4 weeks.
From December 2007 to present, we have lost 10.6 million jobs.
Since August 2008, state and local governments have cut 577,000 jobs.
Since December 2007 2.8 million of the new jobs created have been part-time jobs.
Well-paying jobs are rapidly decreasing, while low-paying jobs are helping to mask an increasingly dire employment crisis. Source National Employment Law Project
Lower-wage industries constituted 23% of job loss, but fully 49% of recent growth.
Higher-wage industries constituted 40% of job loss, but only 14% of recent growth
From 1990 – 2010 costs of living have increased 67%, while wages have stagnated and declined.
In 2009 average income fell 6.1%, a loss of $3,516 per worker for that year alone. Source: IRS.
Average income has declined 13.7% from 2007 – 2009, representing an $8,858 loss per worker.
From 1975 – 2010, worker productivity increased 80%.
The income of the top 0.01% (one-hundredth of one percent) rose 500%.
US millionaire households now have 38.6 trillion in wealth.
They also have an additional 6.3 trillion hidden in offshore accounts for a total of $45.9 trillion
They are projected to have over $100 trillion in total wealth within the next decade.
To put 45.9 trillion dollars in perspective, last year the entire cost of feeding all 40 million Americans on food stamps was 65 billion dollars.
In 2009 74 individuals in America averaged 518.8 million dollars in annual income each, or about $10 million per week.
In the depths of the recession (During the height of the Banker Bailouts), the richest 74 Americans increased their income by more than 5 times within one year.
Current Goldman Sachs CEO Lloyd Blankfein and a few other top executives at Goldman Sachs just received $111.3 million in bonuses.
Over 60% of all personal bankruptcies are the result of medical bills.
In fact, 75% of the medical bankruptcies filed are from people who have health insurance.
The richest 400 Americans paid 30% of their income in taxes in 1995. They now pay 18%.
1,470 Americans earned over $1 million in 2009 and didn’t pay any taxes.
Corporate tax accounted for 27.3% of federal revenue in 1955 vs 8.9% in 2010.
Corporate taxes accounted for 4.3% of overall GDP in 1955. In 2010 they accounted for only 1.3%.
The current “official” CPI is at a 3.6% annual rate.
Calculated the way it was before Greenspan altered it in 1980, it would be 11.1% or three times worse than officially stated.
Gas is currently 125% more expensive since December 2008, increasing from $1.67 per gallon to $3.75.
Because of the QE2 (Money printing) program, the dollar lost 7.5% of its value from January 2010 through March 2010.
From August 2010 through March 2011, the dollar lost 17% of its value.
90% of Americans have incomes that are declining along with the dollar.
10.4 million American families lost their homes to foreclosure since 2007.
With only 4% of the world’s population, America has 25% of the world’s prison population.
775,000 deaths in the US in 2000 could be attributed to poverty. That is easily over 1,400,000 today.
The decentralized global rebellion has begun…
Welcome to World War III.
David DeGraw has written a new book to be released in September. I wrote this abbreviation of a long winded excerpt because I just learned that most people only spend 2 minutes on a web page. You might not but you will reach more people sharing this than a longer piece.
References: This is from Alexander Higgins lengthy rendition of an excerpt from David DeGraw’s new book to be released in September.
David DeGraw is the founder and editor of http://www.AmpedStatus.com. His long-awaited book, The Road Through 2012: Revolution or World War III is coming next month.
David DeGraw is the originator of the Empire State Rebellion. The idea is that when the dollar crashes the poor from the New York New Jersey area occupy all the banks in Manhattan.
I wrote about this rebellion here:
Video: Empire State Rebellion: An Idea Whose Time Has Come
Videos: 40 Then 30, Then We Fight
Read DeGraw’s article here: