‘Financial Terrorism’ in America

Wow. This powerful, data-heavy paper comes off pretty bombastic, and I admit I’ve only given it a cursory read, but I’ve spot-checked the sourcing, and it holds up better than a lot of this kind of stuff that I come across. I’ve never seen the source before — Amped Status — but I’ll be taking a deeper look at that, too. It has a kind of Alex Jones (crazy) vibe, but I think it may actually be rooted in sanity.

I wish I had time to do a more thorough analysis, but I do not, so I wanted to make sure I shared this. You should just go read it. But in case you need some inducement, here are a few zingers from the report.

  • According to most recent Census Bureau data, from 2005 – 2009, average US household wealth declined by 28%. This represents a loss of $27,000 per household. Currently, at least 62 million Americans, 20% of US households, have zero or negative net worth.
  • In 2005, 25.7 million Americans needed food stamps, currently 45.8 million people rely on them.
  • While 68.3 million Americans struggle to get enough food to eat and wages are declining for 90% of the population, US millionaire household wealth has reached an unprecedented level.

Via Nomi Prins on Twitter.

  • http://www.facebook.com/Cogneclecticism Landon Wilson

    I’ve been reading AmpedStatus for a while now. You should check out all of his posts. They do have a “conspiracy theorist” feel to them, but the guys at ZeroHedge (who are not ominpotent by any means, but do great work) can sound the same way from time to time. That doesn’t make either of them wrong. The information is just presented to the reader in a similar format. You could write an essay using the same data and conclusions, yet present it in a “politically correct” “hyperbole-free” format, but the less informed reader may not be able to grasp the severity presented information if he/she isn’t well-informed on economics, markets, statistics, etc. I think his work is at least 80-90% accurate, but I’m no economist. Have you found any factual inaccuracies I should be aware of?