Signs of the Collapse: Record Number Unemployed – 92,120,000 Not Working, Not Looking

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July 3, 2014 Posted by:

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The continuing collapse of our economy took another hit this month with a record 92 million Americans now completely out of work.

Up 111,000 from the previous month, there are now 92,120,000 Americans, 16 and over, who not only didn’t have a job, but stopped actively seeking one in the last month.

While the government is still claiming a 6% unemployment rate, the actual unemployment number is almost 29%, with the number of those who are “underemployed” hovering around 16%. But if you looked at only the mainstream media reports about the economy, you might believe things are getting better. In fact, despite numbers that show the exact opposite, a number of mainstream media news outlets ran the headline this morning, “Has the Labor Force Finally Stopped Shrinking?, “Economy on the Rebound.”, and even “President Obama, has fully pulled the country out of the despair of the Great Recession.”

The June Jobs report numbers are an absolute joke.

In June, the economy lost 523,000 full-time jobs. The number was offset by a massive surge of 799,000 low-wage part-time jobs. Instead of reporting the truth, the media instead decided to report that “300,000 jobs were created.”

Adding part-time and/or temporary workers to the economy does nothing to fix the mess our country is in, especially when you lose over 500,000 full-time employees in one month. The fact is, hundreds of thousands of people who needed full-time jobs had to settle for low-paying part-time jobs because the economy is anything but “ in recovery mode.”

Are we at the Edge of the Cliff?

Unfortunately most of the country seems to have forgotten how close this country came to a collapse back in 2008.

The U.S. stock market continues to climb to new highs, with the Dow topping 17,000 for the first time today. Just like in the months preceding the 2008 collapse, Wall Street traders are pushing the market into ridiculous territory, causing many gullible Americans to yet again plunge their hard-earned money into a market that looks like it’s heading towards another collapse.

The latest surge in the U.S. stock market is being driven by record low interest rates that will eventually lead to the bubble popping.

record low interest rates Bubble Chart

Just like the two most recent bubbles, record low borrowing costs and a stock market that’s being artificially inflated is causing many traders to use margin to finance their stock purchases.

Buying stocks on margin means that the buyer puts down a small portion of his own money, while borrowing the rest from a broker. This is exactly what occurred during the Dot-com Bubble, the U.S. housing and credit bubble, and the Great Depression.

Margin Debt Fueling Stock Market Chart

Prepare for another Crash!

In my opinion, the writing’s on the wall; there’s no way this doesn’t end badly. You can choose to believe the media pundits who have a vested interest in artificially driving the stock market into uncharted territory, or you can learn from the lessons of the past and prepare for what’s coming.

There’s no question we are in another bubble. The only questions that really matters at this point are did you learn from the past, and what are you going to do to protect yourself this time?

Comments

Responses to " Signs of the Collapse: Record Number Unemployed – 92,120,000 Not Working, Not Looking " Please share your thoughts...

  1. Curtis says:

    The crash will begin when investors stop buying bonds and we see interest rates begin to climb. The first will be the stock market begin to decline sharply, followed by bonds. Government will continue to print money, but with no effect. Finally the dollar and debt bubble will pop, and we will be in a Greater Depression. 60% unemployment, I would even dare to say civil unrest. Government knows this, and I feel that is why there is so much militarization of everything. They know civil unrest is coming.

  2. prariewolf says:

    If you are not prepared and ready ….Do the best you can to play catch-up….. It’s here !

  3. Kevin says:

    Inaccurate and false. Please stop scaring people onto your site for advertising dollars. You’re as bad as Obama.

    • Steve says:

      Well please inform us of the truth there Kevin. Share your facts that support your comment, or can you not do that because you’re the typical tard that likes to get on prepper sites and start shit.

      • old soldier says:

        As far as someone discounting the message of this article, my comment is “black swans do exist.” What was it someone once said about being prepared, “it is better to have and not need, than need and not have.”

        • Atticus says:

          Truer words have never been spoken.

          Better to be prepared and not need it, that to ignore it and be found wanting.

    • Steady Steve says:

      .gov SOCKPUPPET ALERT !!

    • Sheryl Anne says:

      Kevin, Show us accurate data please. So that we can get the whole picture.

    • SNIPER says:

      remember they laughed at NOAH

  4. Clint says:

    Chance favors the prepared mind. It doesn’t matter whether or not anyone believes the bubble will burst again. We still have to be prepared for anything. If you aren’t prepared, survival of the fittest applies and you have little to no chance.

  5. JAS says:

    While I agree that the economy is not getting any better, what I never see is anyone talking about the fact that it can’t. If you look at the numbers of people turning 18 and entering the work force compared to the number of people turning 65 and retiring each year, even if we did not loose any jobs at all there would be about 200,000 more people looking for work, than jobs available. If you look at that and all of the jobs that we are loosing to overseas and by technology, it gets real scary. I don’t pretend to know the answer, but people need to wake up and realize we are outgrowing our job market in this country very fast.

  6. mrchrisgdotcom says:

    Back in 2008 I lost my longtime job, the company began letting numerous people go all in one day at all of their branches. I was lucky enough to find another job in less than a month, then in 2010 they did the same thing! Going on 4 years out of work now at a real job. So no, the economy is not getting better and real unemployment is around 20% not 6% as the Obamanation Administration claims. I spoke to my friend earlier, and he told me he just lost his job.

  7. Charles says:

    If margin debt and the S&P 500 index move together everything is OK.According to the chart everything is not OK.

  8. ArGif says:

    For years (70’s & 80’s) I heard my Uncles and Grandpa talk about how the US is going to fail, and how they were prepared to move to Canada. At one point my Grandpa dumped over 100 collectible guns, afraid he’d have to pour cement down the barrels or turn them in; as was the case in other countries.

    None of those items occurred so I tend not to listen to specifics on what will cause the end of the US as we know it.

    However, my Economic education has taught me one simply method that does make me the most nervous. We need GDP to increase each Quarter (5%+ annually) to create individual wealth and jobs in our country. GDP only increases if consumers increase spending over the last period. Consumers only increase their spending if their wages increase and/or their credit (house loans, school loans, etc.) is acquired and spent. Wages haven’t increased, but actually decreased over the last four years. Student loans will soon see a decrease in availability, with limits on maximum allowed and availability for accredited State schools only. And we all know the effort it takes to get home loans.

    Lastly, every Global US company has contingency plans to relocate their headquarters in more friendly business countries (reasonable taxes & regulations). If corporations move, so do jobs; as with Walgreens.

    This scenario is more real than terrorist, EMP, disease, etc.

  9. cordblood says:

    When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get three e-mails with the same comment.
    Is there any way you can remove me from that service? Appreciate it!

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