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alstry (35.70)

MOST Incomes DROPPING to 1960's Levels!!!!!!!!!!!!!!!!!!!!

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June 05, 2009 – Comments (1)

ASK YOUSELF THIS QUESTION....WHAT PERCENTAGE OF AMERICANS NOW ARE ON WELFARE, UNEMPLOYED, WORKING PART TIME, OR WORKING AT A LOW PAYING SERVICE JOB LIKE WAL MART CASHIER OR SIMILAR....???

THEN ASK YOURSELF WHAT KIND OF MORTGAGE CAN THESE PEOPLE AFFORD NOW THAT WE ARE DOING INCOME VERIFICATION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!and we have built zillions of new and vacant homes......

2.1 Million at Walmart Alone.......How many tens of millions work in similar low paying jobs???.........25 Million Unemployed/Part Time........35 Million receiving Food Stamps......50% of the population paying little or no taxes.........an aging population solely dependant on Social Security and little in savings....

AND NOW, MANY OF THE 10% OF HIGH INCOME EARNERS RESPONSIBLE FOR PAYING THE VAST MAJORITY OF THE TAXES ARE MAKING MUCH LESS TODAY AND PAYING MUCH LESS IN TAXES.....MANY NOT PAYING ANYTHING?????

If the rich are not paying.....FEW ARE PAYING TAXES!!!!!!!!!!!!!!!!!

The revenues coming into government are trickling to a STOP.....and the Spending is Exploding.....We MUST CHANGE NOW interest rates will BLOW THROUGH the ROOF!!!!!

When you have 2/3 of the country making practically NOTHING.....under $20K.....and incomes to the top earners evaporating..........guess where the price of housing is going........and everything else for that matter!!!!!!!

Get ready to volunteer.......there will be FEW JOBS AVAILABLE!!!!!!  Unless you want to work for Uncle Ben.

1 Comments – Post Your Own

#1) On June 05, 2009 at 1:05 PM, davejh23 (< 20) wrote:

You can be quite pessimistic, but I really can't see a scenario that looks good for our future.  We have tens of millions of boomers that have not planned for retirement that are about to put a tremendous strain on the government.  It looks like Social Security and Medicare are in bad shape now, but we haven't seen anything yet.  This wave of extremely unhealthy retirees, living on government support, will just help to crush our country.  What do we do?...cut benefits, and create millions of homeless?...as you mentioned in your other post, this spending is a huge percentage of GDP.  True unemployment was reported at over 16% today...and some say this is nothing like the Great Depression?  The only thing that could prop up home prices within the next decade is hyperinflation.

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