Michael Snyder
Economic Collapse
August 15, 2013
Should taxpayer dollars be used to buy sushi and lobster for a young man whose future plans consist entirely of surfing and partying as much as he possibly can? When I first saw the video that I am about to share with you, I was absolutely floored. Recently, Fox News interviewed a self-described beach bum named Jason Greenslate who was very open about the fact that he has no problem sponging off of all the rest of us. When he was asked if he ever had any interest in actually getting a job, his response was “not whatsoever”. Instead, he says that his job is to “make sure the sun’s up and the girls are out” and he would rather spend his days partying. Of course every American should be free to live their own lives as they see fit, but the problem is that Jason Greenslate is using food stamps to help support his lifestyle. In fact, he took Fox News into the gourmet section of a local supermarket where he purchased sushi and lobster with his EBT card. Sadly, he is just like millions of other young men in America today that seemingly have had the drive to succeed and to be independent totally sucked out of them. But what is the future of America going to look like if we continue to produce millions upon millions of young men that have absolutely no desire to make a living, get married and start a family?
Posted below is video from the Fox News interview with Jason Greenslate. If you are a taxpayer, this video should upset you greatly…
Of course the vast majority of those enrolled in the food stamp program are NOT like this. As I wrote about the other day, the economic independence of middle class Americans is being systematically destroyed. The percentage of self-employed Americans is at a record low and the percentage of Americans with a full-time job has dropped to a shockingly low level.
And the quality of our jobs continues to decline. If you can believe it, 40 percent of all workers in the United States today actually make less than what a full-time minimum wage worker made back in 1968.
As a result of our ongoing economic problems, we have seen wave after wave of Americans forced to go on food stamps. Between the year 2000 and the first inauguration of Barack Obama, the number of Americans on food stamps increased by 15 million. Since Barack Obama has been in the White House, the number of Americans on food stamps has increased by 15 million more.
At this point we have a total of 47 million Americans on food stamps, and most of them definitely need the help.
But there are also those such as Jason Greenslate that are openly abusing the system and making it more difficult for those that actually need the help to get it.
Sadly, he is a product of the system that he was raised in. There is a reason why so many young men are “checking out” and rejecting the traditional path of making a living, getting married and having a family.
In America today, the average American watches an average of 153 hours of television a month. All of that “programming” has an extremely powerful impact on all of us.
The next time you watch a television show or a movie, take note of how young men are portrayed and watch what values are being promoted to them. The truth is that they are not being taught to work hard, to be responsible or to want to be good fathers and good husbands.
It is easy to jump on Jason Greenslate, but the cold, hard reality of the matter is that there are millions of others out there just like him. Consider the following numbers…
-In America today, 36 percent of all young adults in the 18 to 31 age bracket are currently living with their parents.
-Young men are nearly twice as likely to live with their parents as young women the same age are.
-In 2011, SAT scores for young men were the worst that they had been in 40 years.
-According to the New York Times, approximately 57 percent of all young people enrolled at U.S. colleges are women. That means that only 43 percent are men.
-It is being projected that women will earn 60 percent of all Bachelor’s degrees from U.S. universities by the year 2016.
-Back in 1950, more than 80 percent of all men in the United States had jobs. Today, less than 65 percent of all men in the United States have jobs.
-Between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.
-As I mentioned in a previous article, the marriage rate in the United States has fallen to an all-time low…
The marriage rate has fluctuated in the past, with dips in the 1930s and 1960s, but it has been in steady decline since the 1970s. Now, researchers report that the marriage rate has dropped to a new low of 31.1, meaning there are about 31 marriages in the U.S. for every 1,000 unmarried women, researchers found. In 1950, that number was 90.2. In 1920, it was 92.3.
-Back in 1950, 78 percent of all households in the United States contained a married couple. Today, that number has declined to 48 percent.
-Today, an all-time low 44.2 percent of all Americans between the ages of 25 and 34 are married.
-The U.S. family is rapidly breaking down. 100 years ago, 4.52 were living in the average U.S. household, but now the average U.S. household only consists of 2.59 people.
-At this point, approximately one out of every three children in America lives in a home without a father.
Instead of endeavoring to become a husband, a father and a productive member of society, Jason Greenslate wants to party on the “safety net” forever.
But if we continue to have millions upon millions more Americans jump on to the “safety net” eventually it will break.
Just this week, Fox News reported on another stunning abuse of the safety net. Large numbers of illegal immigrants have learned that they can get across the border and get a free hotel room by claiming that they have a “credible fear” of the Mexican drug cartels…
A sudden influx of illegal immigrants from Mexico requesting asylum is overwhelming immigration agents in San Diego, forcing agencies to rent hotel rooms for some undocumented families and release others to cities around the U.S.
Documents obtained exclusively by Fox News show Immigration and Customs Enforcement has been paying for hotel rooms for dozens of recently arrived families to relieve overcrowding inside the San Ysidro and Otay Mesa, Calif., processing centers. Some ICE employees are working overtime and others have been asked to volunteer to work weekend shifts. “Duties include intake, placements, transports and release of family groups and unaccompanied minors,” according to a memo obtained by Fox News.
The surge has raised suspicions about what is driving the influx, amid claims that illegal immigrants have learned they can attempt to get asylum by using a few key words — namely, by claiming they have a “credible fear” of drug cartels.
Yes, we definitely want to help the poor and those that truly need our assistance. But at this point about half of all Americans get money from the government every month, and that number is climbing with each passing day.
Meanwhile, our economic system continues to get even closer to a meltdown. On Tuesday I wrote about the stunning cluster of Hindenburg Omens that we have seen lately, and now another one has appeared. On Wednesday we witnessed the 6th Hindenburg Omen that we have seen in the last 8 trading days. The only similar clusters in recent history occurred just before the last financial crash and just before the end of the “dotcom boom”.
In addition, the level of margin debt continues to signal that big trouble is ahead. We recently learned that margin debt hit a brand new all-time high of 384 billion dollars in April, and this is repeating a pattern that we saw just before the financial crash of 2008 and the busting of the dotcom bubble in 2000.
So what is going to happen when the next great financial crash arrives and millions upon millions more Americans are forced to turn to the government for assistance?
And what will happen when the government is forced to start cutting back on benefits because there isn’t enough money?
Sadly, our leaders do not understand that a crash is coming. They keep insisting that everything is going to be just fine.
But remember, the last financial crash caught them entirely by surprise as well. For example, one of the top contenders to be the next head of the Federal Reserve, Janet Yellen, once made the following shocking admission about the last financial crisis…
“For my own part,” Ms. Yellen said, “I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.” Her startled interviewers noted that almost none of the officials who testified had offered a similar acknowledgment of an almost universal failure.
The blind are leading the blind, and none of them are going to see it coming.
But without a doubt the next great financial crash is rapidly approaching.
The system is failing, and people like Jason Greenslate are going to be in for a very rude awakening in the years ahead.
Now is the time to take responsibility, work hard and get prepared for the hard years that are coming. Nobody else is going to do it for you, and when everything starts collapsing the government is NOT going to come riding to your rescue.
This article was posted: Thursday, August 15, 2013 at 6:05 am
Tags: economics
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