Transcript Economic Stagnation and the Prospect of Continued Decline

Economic Stagnation and the Prospect of Continued Decline
The Evidence for a Catastrophic Depression Occurring in the United States
Edward J. Dodson, M.L.A.
October 2011 / Updated March 2013
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“GDP is defined as the
value of all goods and
services produced within
the geographic territory of
an economy in a given
interval, such as a year.”
Where We Are Today
Unemployment
Unemployment
Unemployment
Unemployed Without Benefits
Under-employment
Household Median Income
Elderly Poor
Elderly Poor
Hunger in America
Enid Borden, head of Meals on Wheels
Association states:
"Our rolls are swelling.
There are more and more
people on our rolls, there
are more and more people
in need of our services.
The other side these
numbers don't tell is the
fact that seniors in this
country are going hungry."
Living Paycheck-to-Paycheck
Property Foreclosures
Source: RealtyTrac – Foreclosure Market Report
Property Foreclosures
Is Social
Security
Secure?
The Big
Question
Savings Deficit
Creditworthiness of
Americans
Asset and
Wealth
Ownership
Child Poverty
Skyrocketing National Debt:
Soon to Exceed our Ability to
Service?
What ECONOMISTS
are Telling Us
Joseph Stiglitz
Paul Krugman
Mark Zandi
Mark Zandi
“Most tax expenditures are also inefficient
and regressive. The mortgage interest
deduction, for example, does nothing to
improve housing affordability, its
ostensible goal. Any tax benefit is simply
capitalized into house prices, which rise
as the deduction fuels demand. And the
benefits go to owners of bigger homes with
larger mortgages and higher incomes,
who can itemize and thus claim the
deduction.”
Paul Krugman
“[W]e shouldn't even be talking about
spending cuts at all now. We have 9
percent unemployment. These spending
cuts are going to worsen unemployment.
That's even going to hurt the long-run
fiscal picture because we have a situation
where more and more people are
becoming permanent long-term
unemployed.”
Joseph Stiglitz
Repeal tax-cuts for rich Americans.
End wars in Iraq and Afghanistan that cost
trillions of dollars.
Increase stimulus and programs that would
get Americans back to work
Within Medicare, allow the government to
negotiate prices with the pharmaceuticals,
which would save the U.S. trillions.
NAR Board Room
Chief Economist of the
National Association of
Realtors
“The steady improvement in
[home] sales will support price
appreciation ... [despite] all the
wild projections by academics,
Wall Street analysts, and others
in the media.”
Chief Economist, National Association of
Realtors -- 2007
Alan Greenspan
“I made a mistake in
presuming that the selfinterests of organisations,
specifically banks and
others, were such that they
were best capable of
protecting their own
shareholders and their
equity in the firms.”
How Can We Get
Out of This
Terrible Mess?
A Plan
Tax Woes
All other deductions and
exemptions would be eliminated
Fully amortizing
Public investment in infrastructure +
population growth = rising land values
Fred Foldvary