The number of Americans on food stamps has hit a new all-time record of 47 million. As our friend Eric Sprott first stated, The recovery truly has no clothes.
QE will continue to infinity, as MOPE and the illusion of recovery is failing, and the day of reckoning is not far off. Massive rioting and social unrest already occurring in Europe is coming to a neighborhood near you.
47 Million Americans on Food Stamps, Further Exposing The Lie Of Recovery
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53% of all Americans receive some form of federal funding assistance.
What does this really mean?
I’m not exactly sure and I won’t even begin to speculate as to the number of people who have worked for the benefits such as military and retirees and those who chose, for reasons of their own, or no reason at all, to accept the largess of the state. But it does seem that when more than half the entire population of this country, man, woman and child, depends on the state then something is amiss.
A stat just in stated that the largest portion of the federal budget, at $1.03 trillion, is welfare. The 83 programs embedded in this budget have little flexibility on whether they come or go.
This budgetary number is 40% of the tax revenues collected. Another way of seeing it is that this represents 25% of the total federal budget This is a frightening number because $1 trillion rotated into welfare offers only a meager portion of a personal or family budget. This is most certainly NOT more bang for the for those down on the luck.
At least welfare funds find their way back into local economies to some extent. Unlike Qfinity where the money is not entering the general economy much if at all.
Guess who handles the EBT cards (food stamp debit cards)…JPMorgan. They run everything from the Fed to the soup kitchens. http://www.ebtaccount.jpmorgan.com/JPM_EFS/
Max Keiser has been talking about this for years. I imagine that the Morgue does a much more efficient job at it than the Government would.
People have to live and eat anyway they can find to do it. There is no reason for people to not take what they can get as long as they use it wisely and still try to better themselves rather than just take advantage of it. Bankers sure don’t have any issues with taking the money they get from the government. Probably better to have people with full stomachs and not forming mobs destroying what is left for everyone else, but that is coming soon to a neighborhood near you.
The majority of people on welfare are your next door neighbors who have lost jobs. Sure there are abuses and the generational welfare families but they are a small percentage. If our so called government hadn’t changed things so US jobs got shipped overseas we would not be seeing the number of unemployed we currently are.
The majority of my neighbors are actually retired. Although, the south-west of my city is where the majority of people who are on welfare live. It’s inflation that made them poor. The north-west of my city is where the rich people live but they also getting destroyed financially due to inflation.
Yet, everyone at my school tells me that I should find a job that I would love to do later but with these numbers of unemployment, I simply just can’t right now. By paying for those who are on food stamps, more people are going to join in because they won’t have enough dollars to spend.