Economic Reality
Facts Are Stubborn Things
By Dr. Larry Bates
Publisher and Editor
January 2011 Issue of Monetary
& Economic Review
We are bombarded daily by “spinmeisters” in the government
and on Wall Street with a carefully orchestrated disinformation campaign that
seeks to promote more control of your economic and social behavior. Many of us on an annual basis go to our
physicians for an annual checkup and generally as a part of that process we
have several tests run to get a true picture of our personal health.
In the following chart, we have examined and tested key
components of our economic health in the aftermath of national control by a Democrat
administration and Democrat Congress.
Again, facts are stubborn things.
Here are the data on the impact socialist-controlled government has had
on the economic health of all Americans.
|
Jan 09
|
Today
|
% Change
|
Source
|
Average Retail Price/Gal. in U.S.
|
$1.83
|
$3.104
|
69.6%
|
1
|
Crude Oil, European Brent (barrel)
|
$43.48
|
$99.02
|
127.7%
|
2
|
Crude Oil, West TX Inter. (barrel)
|
$38.74
|
$91.38
|
135.9%
|
2
|
Gold: London (per troy oz.)
|
$853.25
|
$1,369.50
|
60.5%
|
2
|
Corn, No. 2, yellow, Central IL
|
$3.56
|
$6.33
|
78.1%
|
2
|
Soybeans, No. 1, yellow, IL
|
$9.66
|
$13.75
|
42.3%
|
2
|
Sugar, cane, raw, world, lb, fob
|
$13.37
|
$35.39
|
164.7%
|
2 |
Unemployment rate, non-farm, overall
|
7.6%
|
9.4%
|
23.7%
|
3
|
Unemployment rate, blacks
|
12.6%
|
15.8%
|
25.4%
|
3
|
No. of Unemployed
|
11,616,000
|
14,485,000
|
24.7%
|
3
|
|
No. of fed. employees, ex-military
(Current as of 12/2010 preliminary)
|
2,779,000
|
2,840,000
|
2.2%
|
3
|
|
Real Median Household Income
(2008 vs. 2009)
|
$50,112
|
$49,777
|
- 0.7%
|
4
|
|
Number of food stamp recipients
(Current as of 10/2010)
|
31,983,716
|
43,200,878
|
35.1%
|
5
|
|
Number of Unemployment Benefit
Recipients (Current as of 12/2010)
|
7,526,598
|
9,193,838
|
22.2%
|
6
|
Number of long term unemployed
|
2,600,000 |
6,400,000
|
146.2%
|
3
|
Poverty rate, individuals (2008 vs. 2009)
|
13.2%
|
14.3%
|
8.3%
|
4
|
People in Poverty in U.S. (2008 vs. 2009)
|
39,800,000
|
43,600,000
|
9.5%
|
47
|
U.S. rank in Economic Freedom World Rankings
|
5
|
9
|
n/a
|
10
|
Present situation Index (Current as of 12/2010)
|
29.9
|
23.5
|
-21.4%
|
11
|
Failed Banks (Current as of 2010 + 2011 to date)
|
140
|
164
|
17.1%
|
12
|
U.S. dollar vs. Japanese Yen exchange rate
|
89.76
|
82.063
|
-8.6%
|
2
|
U.S. money supply, M1, in billions (Current as of 12/2010 prelim)
|
$1,575.1
|
$1,865.7
|
18.4%
|
13
|
U.S. money supply, M2, in billions (Current as of 12/2010 prelim)
|
$8,3410.9
|
$8,852.3
|
6.5%
|
13
|
National Debt, in trillions
|
$10.627
|
$14.052
|
32.2%
|
14
|
Just take
the last item above: In the last two
years we have accumulated national debt at a rate more than 27 times as fast as
during our nation’s entire history. What
does “over 27 times as fast” mean? If
you are on a freeway driving 70 mph in the right lane and a car passes you in
the left lane going 27 times faster, it would be doing 1890 mph. The
direction and speed of “change” by Obama and Company are disastrous!
We are truly
a nation in crisis. You must immediately
implement strategies to avoid being a victim of the coming disaster. MER readers may call 800-325-0919, Ext. 7470
and request the free 30-minute DVD, “A Nation in Crisis.” Share the information with your family and
friends.
Sources:
1. U.S. Energy Information Administration
2. Wall Street Journal
3. Bureau of Labor Statistics
4. Census Bureau
5. USDA
6. U.S. Dept. of Labor
7. FHFA
8. Standard & Poor’s/Case-Shiller
9. RealityTrac
10. Heritage Foundation and WSJ
11. The conference Board
12. FDIC
13. Federal Reserve
14. U.S. Treasury