Downfall of US Economy in Figures and Facts

Downfall of US Economy in Figures and Facts

Late last year a publication made public 100 figures and facts showing the downfall of the U.S. economy. Saying the U.S. economy is floundering in corruption, misappropriation and debt, the publication pointed out lots of businesses and jobs disappeared in the U.S. Poor people are increasing explosively across the country from the area on the Atlantic to those on the Pacific.

The United States has become a laughing stock of other countries.

◇ Debt on the increase

Now the debt of the United States increased 4 700 times that of 1913 when the U.S. Board of Governors of Federal Reserve System was founded.

Meanwhile, U.S. dollar is devaluated in a planned way by the board.

A commodity that was sold at 29US $ in 1913 is now sold at 457.67 US$.

Since 1976 the United States has got into the red in foreign trade every year, totalling over 750 billion dollars at present.

Debts of American families are 154 % higher than their income.

◇ The richer got richer and the poor poorer

The wealthy classes in the United States, 1% of its population, own more than one third of the national property.

The rate of congressmen millionaires is over 50 times that of ordinary milionaires.

The average pay of chief executives of the top class businesses in 2010 was 343 times that of ordinary Americans. On the contrary, the total property of the poorest Americans was only 2.5% of the national property.

In 2010 the poor increased by 2.6 million, the greatest since 1959 when the statistics began to be taken.

◇ Jobs on the decrease

During 1991-2007 the number of applications for business bankruptcy of Americans, 65-74 in age, increased by 78%.

In December 2006, private business was managed by 16 600 000 men, but now by 14 500 000.

Between December 2000 and December 2010 jobs decreased by 38%, 42% and 48% respectively in Ohio, North Carolina and Michigan.

◇ Children forsaken by society

Over 500 000 children are homeless.

At least 30% of children in 314 counties are on the verge of malnutrition. In Washington, in particular, 32.3% of children are in the state of malnutrition.

In 2010 the rate of poor children increased by 22%.

◇ People's mindset

According to data available, 80% of Americans think that the economy of their country has already declined.

90% recognize the economic situation of their country as deplorable.

The rate was only 11% in January 1999.

Facts prove that the United States, so called an economic giant, is falling downward.

Rodong Sinmun