Pop Economix
Although I don’t care to live there and abhor its’ politics and policies, the U.S. economy greatly affects not only our country but the whole world. Following the IMF’s dire warning about the direction the deficit is heading in that country, comes this graph from Pension Benefit Guaranty Corporation who insures the pension plans of corporations.
They’ve been playing the stock market, and with all the record numbers of the past two years of corporate failures it’s put them deeply in the red, almost triple from the record low they had last year ($3.6 Billion, yes that’s a big “B”), since the inception of the agency to $11.2 Billion. That’s just one years growth in deficits, the nations’ deficits as a whole is rising even faster while consumer bankruptcies are also at record highs. Something has to break eventually, and it’s going to be the backs of all the middle class when they find out there isn’t any pension for them and the budget surplus and treasury was looted when the present administration played dirty to come to power and the world expects them to pay for their excesses. Only they won’t be able to do anything about it because the Constitution for the masses started to get ripped to shreds back in 1910 by the bankers of the day and the job is pretty much finished with the Patriot Act I and II. People are starting to wake up though thanks to the Internet and blogging, but the majority are still numbed by the drivel that passes for news on FOX and CNN et al.