Industrial Insight

World Gdp for a long time…

June 24, 2012
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Interesting

http://2.bp.blogspot.com/-AXJLcZ0Kvvk/T-HGFBor-KI/AAAAAAAATJ0/jQN47egIjYs/s1600/chart.png

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Bad times….

June 5, 2012
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Bad times….

http://www.realclearmarkets.com/articles/2012/06/05/the_lowlights_of_obamanomics_99703.html

• The share of Americans who’ve been out of work a long time – now at 42% of the unemployed – is the highest since the Great Depression (source: Labor Department).

• The proportion of the civilian working-age population actually working, at 58%, is the smallest since the Carter era (Labor Department).

• Growth in nonfarm payroll jobs since the recovery began in June 2009 is the slowest of any comparable recovery since World War II (Hoover Institution).

• The rate of new business startups – the engine of job growth – has plunged to an all-time low of 7.87% of all businesses (Census Bureau).

• 3 in 10 young adults can’t find jobs and live with their parents, highest since the 1950s (Pew Research).
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• 54% of bachelor’s degree-holders under the age of 25 are jobless or underemployed, the highest share in decades (Northeastern University).

• Black teen unemployment, now at 37%, is near Depression-era highs (Labor Department).

• Almost 1 in 6 Americans are now poor – the highest ratio in 30 years – and the total number of poor, at 49.1 million, is the largest on record (Census).

• The share of Hispanics in poverty has topped that of blacks for the first time, 28.2% to 25.4% (Census).

• The number of Americans on food stamps – 45 million recipients, or 1 in 7 residents – also is the highest on record (Congressional Budget Office).

• Total government dependency – defined as the share of Americans receiving one or more federal benefit payments – is now at 47%, highest ever (Hoover).

• The share of Americans paying no income tax, at 49.5%, is the highest ever (Heritage Foundation, IRS).

• The national homeownership rate, now at 65.4%, is the lowest in 15 years (Census).

• The 30-point gap between black and white Americans who own their own homes is the widest in two decades and one of the widest on record (Census).

• Federal spending, now at 23.4% of GDP, is the highest since WWII (CBO).

• Excluding defense and interest payments, spending is the highest in American history, at 17.6% of the economy (First Trust Economics).

• The federal debt, at 69% of GDP, is the highest since just after WWII (CBO).

• The U.S. budget deficit, now at 9.5% of the economy, is the highest since WWII (CBO).

• U.S. Treasury debt has been downgraded for the first time in history, meaning the U.S. government no longer ranks among risk-free borrowers (S&P).


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I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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