This is simply not sustainable even for America, and when the printing stops what then?
If it were not for Chinese buying of housing, that too would be in a greater slump.
"By this measure, according to the report, 23.1 percent of Americans were recipients of welfare in 2011. Since 1993, the earliest year covered by the report, that is the highest percentage of Americans reported to be receiving welfare.
A startling 38 percent of all children 5 and under in the United States were welfare recipients in 2011, according to the report.
When recipients of non-means-tested government programs (such as Social Security, Medicare, unemployment, and veterans benefits) were added to those receiving benefits from means-tested programs, the total number receiving benefits in the fourth quarter of 2011 was 151,014,000, according to the Census Bureau. That equaled 49.2 percent of the total population."
By Mac Salvo
9 July 2014
Amid all the talk of recovery by politicians, economic officials and big business leaders, the fundamental numbers behind all the propaganda tell a starkly different story.
Home sales have dropped to record lows, more people are out of the workforce than anytime in the last 50 years, and cash-strapped consumers have run out of money to fuel economic growth.
By all meaningful measures the American boom times of old are gone.
A recent report from the Department of Health and Human Services suggests that we may have already reached the tipping point and that things are only going to get worse going forward.
According to the HHS, nearly half of all Americans are now dependent on some form of government benefit just to put food on the table. And of our population of 310 million, nearly one in four receive welfare benefits.