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Tags: economy | crime | inflation | poverty | food | gas costs | interest rates

George Mentz: Crime, Poverty Reach Horrifying Levels in US

George Mentz: Crime, Poverty Reach Horrifying Levels in US
Police in anti-riot gear in downtown Seattle (Dreamstime)

George Mentz By Monday, 05 September 2022 12:35 PM EDT Current | Bio | Archive

Sometimes brutal honesty is required to convey the hard truth. Fortunately, great researchers are able to dig deep and find the economic data to provide a broad view of our economy and security.

As I expose below, here are the lowlights of the total and complete failure of economic and law enforcement policy in this nation in 2021 and 2022. Brace yourself for the worst economic and crime data that most of us have ever seen in our lives:

  • Crime surge for 2021-2022 – Violent crime has surged since President Biden took office in January 2021 including record numbers of murder, rape, drug death, and suicide. [i]
  • Poverty expands 2021-22 – Newsweek says poverty and debt has dramatically expanded in the USA due to Inflation and energy costs. [ii] "The recent increase in food and energy prices could disproportionately impact the poorest households," said Indermit Gill and Peter Nagle of the Brookings Institute.
  • Murder rate hits new high again in 2021. There were 24,576 violent homicides in the year 2021 [iii]
  • Suicide up to 45,979 in 2021 [iv] Suicide at record levels under President Biden [v] [vi]
  • Worst food scarcity since Jimmy Carter - Record high food prices have triggered a global crisis that will drive millions more into extreme poverty, magnifying hunger. [vii]

· 139,152 violent rapes in the USA in 2021 [viii] [ix] Recently, data shows there wereare 463,634 victims (age 12 or older) of rape and sexual assault each year in the United States. [x] 90% of adult rape victims are young female and working women. [xi]

· Worst ever inner city gun crime death and gun related injury hits new records in violence and is now the worst in history. [xii]

· Inflation poverty - home heating and utility poverty – 20 Million Americans are defaulting on their electric, gas and utility bills [xiii]

· Toxic drug death at genocide levels - About 200,000 Americans lost a child to Fentenyl and opioids in 2021. There were about 500,000 overdose killings/deaths from 2008-17 from toxic drugs coming in the USA as deadly fentanyl came over the borders with drug smugglers and dealers. Approximately 1 million total opioid related and fentenyl deaths in the USA since 2009. [xiv]

· Baby food and diaper inflation – CBS News says Inflation is at a 40 year high. [xv]This is hitting women and minorities the hardest. Bloomberg says diaper costs are crushing families. [xvi] [xvii]

· 100,000-plus alcohol-related deaths - There was 52,000 alcohol-induced deaths in 2021. [xviii] There were another 56,000 alcohol liver disease deaths in 2021 – an increase of more than 26 percent

· Child mental poverty hits 20-year record according to the NYT New York Times [xix] Pandemic management erased 2 decades of student gains in math and reading in jus the last 2 years.

· Borrowing rates are through the Roof at 20%+ Interest Rates – Credit card interest rates have skyrocketed up to near 20% for millions of Americans. [xx] Credit card balances also jumped 13% during the second quarter, the largest year-over-year increase in more than 20 years. [xxi]

· Record utility costs and fears of shut offs- 20 Million families are behind on the over inflated energy bills [xxii] Experts predict children and families will be cold this winter. Yahoo news says people will die as a result of shut offs and expensive energy. [xxiii]

· COVID has killed a little over 1 Million in the USA and most of that death happened after the vaccine was introduced in Jan 2021. [xxiv]

· 639 Peace officers killed in the Line of Duty 639 [xxv]

· Record Deaths in Law Enforcement – There was a record number of law enforcement deaths in 2021 [xxvi] [xxvii]

· Murder rates hit new highs in 2021 [xxviii] The murder rate has been increased 18% relative to the same period last year. For the first time since 1995, the United States surpassed 20,000 murders in a year. [xxix]

· Education Poverty and Stress is Raging – According to NBC experts, new research shows that the costs of housing, travel, food, and necessities have severely risen in recent months which puts even more stress on students, families and single mothers. Universites are raising tuition and salaries to help staffs combat inflation, interest rates, and energy costs. Enrollment has declined by nearly a million students and families are beaten by new costs. [xxx] , [xxxi]

· Gun crime hits new highs and is the leading cause of death for African Americans under 55 [xxxii] Gun violence in the United States - Wikipedia

· Millions of mothers now forced into poverty - In June 2022, one box of 168 Pampers Diapers cost around $60 at Walmart stores. The crushing inflation on mothers is nearly 184% more per unit than the cost Bloomberg has reported in November 2020. [xxxiii]

· Credit card poverty debt at all time high - Average family credit card debt is $8,425 according to WalletHub with interest rates on cards up roughly 13% year over year according to Reuters. Currently, the average median card APR is 21.74 percent, according to CreditCards.com data. [xxxiv], [xxxv], [xxxvi]

· Federal reserve artificial inflation – For the first time in history, the Federal Reserve actually creates inflation on consumers in many areas such as: auto loans, mortgage loans, adjustable loan rates, credit cards, and products and services that cost more due to inventory interest rates among other things. [xxxvii]

"The problem we are talking about here is that people who are on fixed incomes or who are living paycheck to paycheck, they are spending most or all of what they are earning on food, gasoline, rent, heating — basic necessities," U.S. Federal Reserve Chair Jerome Powell said in response to a question about the impact of rising prices on the poorest Americans.

Newsweek says, “Prices for food, housing and energy — the three biggest expenses for Americans — have increased 10.1%, 14.1% and nearly 50%, respectively.” Overall, working families and young mothers are getting trampled with inflation and interest rates. Nobody is sure if the energy crisis can be resolved since the government shut downs of various pipelines in the in 2021. Moreover, the Russia Ukraine conflict may last years while 76% of world population wants nothing to do with it and to stay out of the fight. [xxxviii]

In sum, energy is such a critical impact on inflation, there will be no relief until nations have a policy that creates affordable energy which affects all prices including food, housing, health care and almost all products and services.

As a long-time writer in the areas of economics and wealth management, the chief component of economic success of a nation beyond human capital and prices is the relative safety of a nation and its’ urban centers.

Overall, more families may lose their homes and their cars due to default. Further, less companies will invest in the USA if the risk and policies are adverse to business investment. As such, new poverty and debt created by bad policies will generate more poverty and struggle in the USA for working mothers and children.
________________________

George Mentz JD MBA CILS is a CWM Chartered Wealth Manager ®, global speaker - educator, tax-economist, international lawyer and CEO of the GAFM Global Academy of Finance & Management ®. The GAFM is an ESQ EU accredited graduate body that offers certification training in 150+ nations under ISO 21001 and ISO 9001 standards. Mentz is also an award winning author and graduate law professor of wealth management in the USA.


[i] Recent surge in violent crimes has made ‘law & order’ a hot button topic, again | PBS News Weekend

[ii] Inflation Is Making Poverty in the U.S. Even More Difficult (newsweek.com)

[iii] America Is Having a Violence Wave 2021 - The Atlantic

[iv] https://en.wikipedia.org/wiki/Suicide_in_the_United_States

[v] Suicide rising across the US | VitalSigns | CDC

[vi] Military Suicide Deaths In Operations Since 9/11 : NPR

[vii] Food Security Update (worldbank.org)

[viii] Rape Statistics by State 2022 (worldpopulationreview.com)

[ix] Rape in the United States - Wikipedia

[x] Victims of Sexual Violence: Statistics | RAINN

[xi] 32 Disheartening Sexual Assault Statistics for 2022 (legaljobs.io)

[xii] Community Gun Violence - The Educational Fund to Stop Gun Violence (efsgv.org)

[xiii] https://www.macrotrends.net/2479/heating-oil-prices-historical-chart-data

[xiv] Drug Overdose Deaths in the U.S. Top 100,000 Annually (cdc.gov)

[xv] Inflation hit 9.1% this Summer, highest rate in more than 40 years - CBS News

[xvi] Diaper Costs Crush Families as P&G and Kimberly-Clark Pass Along Inflation - Bloomberg

[xvii] Inflation is hitting Black and Hispanic Americans harder than White and Asian Americans - CNN

[xviii] Alcohol Deaths on the Rise and Suicide (cdc.gov)

[xix] The Pandemic Erased Two Decades of Progress in Math and Reading - The New York Times (nytimes.com)

[xx] Consumer watchdog to investigate record-high credit card rates (cnbc.com)

[xxi] Consumer watchdog to investigate record-high credit card rates (cnbc.com)

[xxii] Can’t Pay Utility Bills? 20 Million US Homes Behind on Payments, Facing Shutoffs - Bloomberg

[xxiii] Stark warning 'people will die' of the cold unless governments act on massive energy bills (yahoo.com)

[xxiv] Biden marks one million U.S. COVID deaths after losing political battles | Reuters

[xxv] Law Enforcement Line of Duty Deaths in 2021 (odmp.org)

[xxvi] Officer Deaths By Year - National Law Enforcement Officers Memorial Fund (nleomf.org)

[xxvii] • U.S. law enforcement deaths 1786-2022, by cause | Statista

[xxviii] U.S. murder rates stayed high last year …. (cnbc.com)

[xxix] Crime Rates & Trends in America And Worldwide: Key Insights 2022 - Armormax

[xxx] How Inflation Impacts College Students | BestColleges

[xxxi] Tuition, fees continues to rise as pandemic inflation woes hit colleges (nbcnews.com)

[xxxii] Community Gun Violence - The Educational Fund to Stop Gun Violence (efsgv.org)

[xxxiii] Why Are Diaper Prices Up 184 Percent? Two Corporations Are Preying On Parents (perfectunion.us)

[xxxiv] 2022 Credit Card Debt Study: Trends & Insights (wallethub.com)

[xxxv] Average credit card interest rates: August 24, 2022 | CreditCards.com

[xxxvi] As U.S. interest rates soar, four ways to manage credit cards now | Reuters

[xxxvii] George Mentz - Inflation Slamming Working-Class Families, Students | Newsmax.com

[xxxviii] Opinion: A negotiated peace is the only way to end Russia's war on Ukraine - CNN

© 2022 Newsmax Finance. All rights reserved.


GeorgeMentz
Sometimes brutal honesty is required to convey the hard truth. Fortunately, great researchers are able to dig deep and find the economic data to provide a broad view of our economy and security.
economy, crime, inflation, poverty, food, gas costs, interest rates, education
1700
2022-35-05
Monday, 05 September 2022 12:35 PM
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