Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Still Unrecovering

IMG Auteur
Published : September 21st, 2011
189 words - Reading time : less than a minute
( 1 vote, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Crisis Watch

 

 

 

 

In "Our Sputtering Economy by Numbers: Poverty Edition," ProPublica highlights statistics derived from the Census Bureau's lncome, Poverty, and Health Insurance Coverage in the United States: 2010, which lend further weight to the notion that what we've experienced since the recession "ended" back in 2009 could best be described as an "unrecovery." Here are just a few examples


Poverty:


Official U.S. poverty rate in 2007, before the recession: 12.5 percent


Poverty rate in 2009: 14.3 percent


Poverty rate in 2010: 15.1 percent


Last time the poverty level was this high: 1993


Income:


Decline in median household income since 2009: 2.3 percent


Decline in median household income since before the recession: 6.4 percent


The last time median household incomes have been this low: 1996


In both cases, the statistics that are supposed to improve when a recession ends have actually gotten worse. Maybe I'm a little slow on the uptake, but isn't this the wrong way around?


Regardless, the fact that Americans are in worse shape financially than they were before financial Armageddon erupted suggests the economy's next leg down is going to be an ugly one.


Michael J. Panzner 

 

 

 

 

<< Previous article
Rate : Average :5 (1 vote)
>> Next article
Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
WebsiteSubscribe to his services
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Marathon Oil(Ngas-Oil)MRO
Bernard Horn Increases Stakes in Three Positions During 1QFY15
US$ 28.09-0.32%Trend Power :
Corporate news
Sandstorm Gold(Cu-Mo-Au)SSL.V
Sandstorm Gold Releases Voting Results from Annual General Meeting
CA$ 4.15+0.48%Trend Power :
Corporate news
Sandstorm Gold(Cu-Mo-Au)SSL.V
Sandstorm Gold Releases Voting Results from Annual General Meeting
CA$ 4.15+0.48%Trend Power :
Corporate news
Minco Silver(Ag-Au-Le)MSV.TO
Minco Silver Announces Purchase of the Changkeng Gold Project
CA$ 0.56+0.00%Trend Power :
Corporate news
Minco Gold(Ag-Au-Cu)MMM.TO
Minco Gold Announces Sale of the Changkeng Gold Project
CA$ 0.31-6.06%Trend Power :
Corporate news
Gray Rock(Au)GRK.V
Gray Rock Announces Non-Brokered Private Placement
CA$ 0.02+0.00%Trend Power :
Corporate news
Orex Expl.(Au)OX.V
Resignation of the President and CEO
CA$ 0.02+0.00%Trend Power :
Corporate news
Junex(Ngas)JNX.V
Junex Announces Private Placement of up to $22,000,000
CA$ 0.92-1.08%Trend Power :
Corporate news
Aurcrest gold(Ag-Au-Zn)AGO.V
AurCrest Announces Debt Settlement
CA$ 0.02+0.00%Trend Power :
Corporate news
HudBay(Cu-Le-Ni)HBM.TO
Hudbay Announces Election of Directors
CA$ 11.41+0.88%Trend Power :
Corporate news
Comments closed