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Gotta Love Change

James Doan - Monday, August 27, 2012
I usually delete most of the mass emails that somehow end up in my inbox every day (all day).  But this one caught my eye.  I look at the numbers below and think about the "change" platform from Obama's last election.  Now his motto is "forward." 

I doubt this was the type of change any one was thinking about when they voted for and elected Obama as president.  I am thoroughly perplexed as to how anyone can continue to vote for him.  

Take a look at the change below and think about how you have personally benefited therefrom:

  JANUARY '09 TODAY CHANGE SOURCE
Avg. Retail price/gallon gas in U.S. $1.83 $3.44 84% 1
Crude oil, European Brent (barrel) $43.48 $99.02 128% 2
Crude oil, West TX Inter. (barrel) $38.74 $91.38 136% 2
Corn, No.2 yellow, Central IL $3.56 $6.33 78% 2
Soybeans, No. 1 yellow, IL $9.66 $13.75 42% 2
Sugar, cane, raw, world, lb. Fob $13.37 $35.39 165% 2
Unemployment rate, non-farm, overall 8% 0.094 24% 3
Unemployment rate, blacks 13% 0.158 25% 3
Number of unemployed 11,616,000.00 14,485,000.00 25% 3
Number of fed. Employees 2,779,000.00 2,840,000.00 2% 3
Real median household income 50,112.00 49,777.00 -1% 4
Number of food stamp recipients 31,983,716.00 43,200,878.00 35% 5
Number of unemployment benefit recipients 7,526,598.00 9,193,838.00 22% 6
Number of long-term unemployed 2,600,000.00 6,400,000.00 146% 3
Poverty rate, individuals 13% 14% 8% 4
People in poverty in U.S.  39,800,000.00   43,600,000.00 10% 4
U.S. Rank in Economic Freedom World Rankings 5 9 n/a 10
Present Situation Index 29.9 23.5 -21% 11
Failed banks 140 164 17% 12
U.S. Dollar versus Japanese yen exchange rate 89.76 82.03 -9% 2
U.S. Money supply, M1, in billions 1,575.10 1,865.70 18% 13
U.S. Money supply, M2, in billions 8,310.90 8,852.30 7% 13
National debt, in trillions 10.627 14.052 32% 14

We used to think that this "change" would be good for the bankruptcy business.  At first, it was.  But now, many of our clients are too broke to file bankruptcy, and have lost just about everything.  As such, there remains little motivation for many to file bankruptcy.  After all, if you don't have anything to lose, why drop $2,000 on a bankruptcy?

Sometimes we have to decline representation for bankruptcy clients who are "insolvent."  This means that even if a creditor sues them for non-payment of a credit-card or other debt, the creditor won't be able to collect anything since the debtor has nothing to take. 

For a free consultation to see if bankruptcy is right for you, call 888-362-6529.  Doan Law Group, California's Largest Family of Attorneys, helps Californian's get out of debt.  Visit us at www.doanlaw.net.  

Sources:

(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. Of Labor; (7) FHFA; (8) Standard & Poor's/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury 



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