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Consumer sentiment is extremely glum. Leading indicators are turning negative. Surveys show hiring plans are contracting.
A record 46 million Americans get food stamps. Over the past four years, on average 400,000 per month enrolled. Others need them but aren't eligible.
America's worst drought in half a century compounds trouble. Higher food prices affect other purchases. Resources go for militarism, wars, homeland security, universal spying, banker bailouts, and other handouts to corporate favorites.
Virtually nothing is done to stimulate growth. A yearend bipartisan "grand bargain" triggers an automatic $1.2 trillion in largely discretionary spending cuts.
At least another trillion in sequestered government spending is also scheduled. Expect trillions more announced in the new year no matter which party controls Congress and/or the White House.
Smart money predicts hard times getting harder. Conditions for most people already are disastrous. Imagine what they'll face next year and beyond.
Progressive Radio News Hour regular Jack Rasmus predicts another banking crisis. His policy failures short list includes:
(1) the negative relationship between "real asset investments" and speculation.
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