Seven Insolvent States: The Road to Non-recovery

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Gnosty
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Seven Insolvent States: The Road to Non-recovery

Postby Gnosty » 05 Feb 2010, 17:31

What do California, Florida, Illinois, Ohio, Michigan, North Carolina, and New Jersey all have in common?

Here are some statistics to open your eyes as to why each of these corporate States are in the pickle jar together.

1. Each have populations of over 8 million. See http://en.wikipedia.org/wiki/List_of_U. ... population

2. Each have borrowed at least One Billion [Federal Reserve Note] Dollars - FRN$ 1,000,000,000 - from the federal government corporation just to pay their unemployment claims... so far. Each unemployment fund is far beyond just being bankrupt and insolvent. See http://projects.propublica.org/unemployment/ to see how your State is doing.

3. Each have "official" U-6 unemployment rates of 15% or more. Shadow Stats claims the non-manipulated rate is 20%+ for each State. See http://www.shadowstats.com/ for some real unemployment and economic statistics.

4. Each are critically dependent on energy imports , i.e. natural gas, oil, coal, or electricity. In stark contrast, Colorado, New Mexico, Wyoming, Oklahoma, North Dakota, and Louisiana are all net exporters of energy. See http://tonto.eia.doe.gov/state/index.cfm

5. Thirty-five percent (35%) of the total US population is in these seven States.

6. All are completely dependent on daily spot prices for both energy and food costs; have no wage or employment growth; and none can ever hope for even a smidgen of economic relief through lower energy costs... which is a pie-in-the-sky wish.

Statistically, these seven States financially and economically compare to the 4 insolvent European nations of Portugal, Ireland, Greece, and Spain (the economic P-I-G-S of Europe).

There is no depression or recession in the U.S. any longer. We have entered an economic collapse and the first seven dominoes have already fallen. Many others are sure to follow. Go to http://worldvisionportal.org/blog/index ... -doorstep/ to see 21 reasons why this economic collapse is already on our doorstep.

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