Last year JP Morgan admitted that the economic collapse is coming. The U.S. economy has had six full years to bounce back since the financial collapse of 2008, and it simply has not happened. Median household income has declined substantially since then, total household wealth for middle class families is way down, the percentage of the population that is employed is still about where it was at the end of the last recession, and the number of Americans that are dependent on the government has absolutely exploded.
Even those that claim that the economy is “recovering” admit that we are not even close to where we used to be economically. Many hope that someday we will eventually get back to that level, but the truth is that this is about as good as things are ever going to get for the middle class. And we should enjoy this period of relative stability while we still can, because when the next great financial crisis strikes things are going to fall apart very rapidly.
The U.S. Census Bureau has just released some brand new numbers, and they are quite sobering. For example, after accounting for inflation median household income in the United States has declined a total of 8 percent from where it was back in 2007. That means that middle class families have significantly less purchasing power than they did just prior to the last major financial crisis. And one research firm is projecting that it is going to take until 2019 for median household income to return to the level that we witnessed in 2007.
According to a report from FORBES: The fiscal cliff is behind America?. But according to a study by the Bipartisan Policy Center in Washington, released on Monday, the U.S. hit its debt limit last week and is utilizing old school accounting tricks robbing Peter to pay Paul before the well runs dry around Feb. 15.
With the U.S. taking in less money in tax revenue than it is dishing out in financial obligations, is economic collapse imminent? Not according to one of the most influential, insider banks in the country. J.P. Morgan’s economic research team released a 12 page special report on the U.S. economy today. In short, their call is for housing to recover and push the economy forward, and for unemployment to come down this year. Sure wages will be stagnant, but less unemployment means an end to quantitative easing and, perhaps, a return of growth driven by corporate investment and consumer spending, rather than one driven by the Federal Reserve.
I really wonder how this will end? And I cant help thinking of when RON PAUL was screaming about this from the roof tops, but the sheeple ignored him!
MUST WATCH! JP MORGAN ADMITS ECONOMIC COLLAPSE IS COMMING WATCH NOW