Economic Stagnation and the Prospect of Continued Decline The Evidence for a Catastrophic Depression...

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

STRESS STRESS STRESS STRESS STRESS STRESS

“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

"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."

Hunger in America

Enid Borden, head of Meals on Wheels Association states:

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

Paul Krugman

Joseph Stiglitz

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.

Chief Economist of the National Association of Realtors

NAR Board Room

Chief Economist, National Association of Realtors -- 2007

“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.”

Alan Greenspan

“I made a mistake in presuming that the self-interests 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

SIMPLIFIED BUT PROGRESSIVE TAX REFORM

All other deductions and exemptions would be

eliminated

Fully amortizing

Public investment in infrastructure + population growth = rising land values

Fred Foldvary