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Saturday, June 18, 2011

So You Don't Think It Could Happen Here?

The Economic Collapse guy ends today's column with this thought.  Be sure to listen to the Jack Cafferty video embedded in the piece below.  While I mostly think Jack is a jerk (his book is unreadable), the comments he reads from other Americans are frightening!  (Right Here is blue highlighted.)

#19 The American people are extremely pessimistic about the economy right now.  According to one recent poll, 56 percent of Americans have lost sleep due to the economy and about three-quarters of Americans believe that the nation is on the wrong track.
The nation is in a very sour mood right now, and this is causing even many in the mainstream media to ask some very hard questions.
For example, Jack Cafferty recently asked the following question to viewers on CNN....
"What are the chances the U.S. economy could eventually trigger violence in our country?"
You can view the video of Cafferty asking this question right here or you can just watch it below....
Sadly, we are already starting to see violence erupt all over North America.
Yesterday I highlighted the horrifying violence that we saw in Vancouver this week.
In previous articles I have discussed the insanity that has been going on in major U.S. cities such as Chicago.
Now even the mainstream media is being forced to report on the surge in violence.
A recent USA Today article described some of the most recent mob robberies that have been happening in Chicago....
A Chicago Tribune report tells of a 68-year-old man from Washington State who was set upon while he was smoking a cigar on a bench when youths surrounded him, attacked him and reportedly stole a phone and iPad. The report says a 42-year-old Japanese tourist also was beaten and robbed on a bicycle path by the lakefront. The paper says seven were arrested, but that the group participating in the felonies was estimated at 15 to 20 people strong. One 20something suburbanite told Chicago's WGN TV that he was hit so hard in the head with a baseball that it knocked his motorcycle helmet off. he managed to fight his way out of trouble and hail police, he said.
When people don't have hope, they get desperate.
There are millions of other Americans that are suffering through this economy quietly.
There are so many people out there that have worked hard and have followed all the rules and yet now find themselves struggling just to survive.
For example, a reader named Carolyn recently left a comment in which she shared her story with my readers....
My husband lost his long-term job in 2009 due to budget cuts. Don’t worry, I said. I’m still working, and we have a year of our salary in savings. You’re smart, you’re educated, you’re a hard worker. You’ll find a job soon.
Two months later, my long-term job was sent to India.
I still wasn’t worried. I’m smart, I’m educated, and I’m a smart worker.
A year and a half later, I haven’t found new career yet. I’m 50. No one is going to hire me. I am working – at a Home Depot. At a 79% pay cut from my prior position. But it doesn’t pay for anything. My husband found a new position in his field – at a 62% pay cut from his prior position.
We lived off unemployment and our savings, until both ran out. We put our house and investment property on the market the day after I lost my job.
We haven’t had one offer.
We just had our Chapter 7 bankruptcy discharged. Our foreclosure is still pending. No word yet when that will be done.
To add insult to injury, we owe Federal income taxes on the penalties we used to make withdrawals from our 401(k)’s to live off. My husband took a job in another state, and we were SHOCKED to learn that we owed NEW YORK STATE taxes on the income he earned in Mississippi – to New York state! Apparently there is some loophole that if you are a property owner in New York, but earn income in another state, you have to pay New York state income taxes on out of state earned income.
We’ve been told once our foreclosure is finalized, we may owe taxes on that as well.
What happened to our country?

It is so sad to see what is happening to America.
Things are so hard out there for so many millions of American families right now.
But the truth is that things are much better at the moment than they will be in a few years.
So what is America going to look like when there is no doubt that the economy has collapsed and people have no hope at all?

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