I read this article and became really concerned, frightened even.
The figures from payroll taxes reported to the Social Security Administration on jobs and pay are, in a word, awful.
Even more alarming is this graph with the title “Fewer Jobs, Less Pay”:
And from the rest of the article:
More significantly, the number of people with any work has fallen by 5.2 million since 2007, when the worst recession since the Great Depression began, with a massive taxpayer bailout of Wall Street following in late 2008.
This means 3.3 percent of people who had a job in 2007, or one in every 30, went all of 2010 without earning a dollar.
In addition to the 5.2 million people who no longer have any work add roughly 4.5 million people who, due to population growth, would normally join the workforce in three years and you have close to 10 million workers who did not find even an hour of paid work in 2010.
I commented to Suburban that I had largely been insulated from the economic issues since I live and work in booming Houston, Texas. I try hard to not react to anecdotes especially when they are very emotional. Instead, I try and gather broad and objective evidence that a phenomena actually exists and is verified in a systematic manner. Anecdotes are a fine starting place, but verified patterns are better. The linked article on the overall job market provides evidence that it really is bad out there and much worse than my own Houston, Texas bubble.
As a side note, that is why I am reading the work of Fernando Ferfal Aguirre who wrote a book an the Argentine currency crisis in 2001 and its after effects. I think it will have vast and deep implications regarding what is coming for Americans. I am only a few pages in, but I like his no-nonsense writing style so far. I will keep you posted!
Until then, my advice is to shore up any prepper issues you have focusing on finances, water, food, security, shelter, medical care, and energy. A storm is coming and, yes, the time is now!