Saturday, May 22, 2010

A Perfect Storm for Mass Unemployment In June


(snippet)
Losing the lifeline
  It's been well-reported that unemployment benefits can last for 99 weeks (aka the 99'ers). What has been almost completely lacking in the news coverage is that June 2nd is the drop-dead date for unemployment extensions.
 On April 12, 2010, Senator Sherrod Brown of Ohio attempted the impossible and "urged an extension on unemployment insurance". At that time, Senator Brown also stated, "Many of my colleagues had no problem giving tax breaks to companies that shipped jobs overseas, but now balk at extending unemployment insurance."
 Currently there are four "Tiers" of extended unemployment insurance. If you were laid off early in the recession then you were eligible for the full 99 weeks. But let's say you were laid off in the spring of 2009 and you are on Tier Three of the emergency extended benefits that runs out in July. 
  If you are in that boat then you are sh*t out of luck. The only way you are eligible for Tier Four is if your benefits expire 
before the end of May.
 This applies to all tiers. Thus if you were laid off only, say, 24 weeks ago, you aren't eligible for any federal unemployment benefits when the state UI expires after 26 weeks. Not even Tier One. 
 Currently the 
average duration on unemployment is 8 months. That's going to effect around 7 million people.
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 This means that literally millions of long-term unemployed are going to be losing their last lifeline in the coming months.
 More than 400,000 jobless workers could run down their federal benefits each month over the next several months, even assuming that Congress continues to renew the expanded benefit period now in place.
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 There is some proposals for moving the deadline out for a few months, but nothing concrete at this time with only a week to go before the clock strikes midnight. 
  As for those who have actually used up the full 99 weeks of UI, there is almost no hope of a Tier Five being created.

40 comments:

  1. Prepare for a lot of desperate, hungry mobs of people looking for a way to survive.

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  2. Going forward, any newly-unemployed should get the same benefits as those that recieved extended benefits. But we know it doesn't work like that... the essence of Ponzi.

    jps

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  3. O, this sounds like a whole lot of bad!

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  4. thats the v recovery
    the riots are the upswing
    obama hope and change
    i killed the gulf now well bomb north korea
    and well get a great war
    his handlers did a great job
    when im in office ill pull out of iraq buwahahahahahhaahahhha
    we are so screwed
    just remmeber congress got raises

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  5. Should be about 250,000 new jobs mopping up oil from the beaches in the next week or so, course those will go to illegals.

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  6. As a self employed contractor I don't receive a dime from the Government. Construction has been hit amog the worst and we are on our own. If your benefits are not extended I say CRY ME A RIVER..LET ME GET MY VIOLIN OUT.

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  7. We have become our own worst enemy

    All these people cannot find work because we gave all our technology away overseas.

    Now we're giving them our natural resources.

    Meanwhile; our unemployed shop at Walmart for made in China products that are inferior - but cheap.

    It's a vicious cycle at this point and I know I'll get pounded for this but brother; if you've been on the handout for 2 freakin' years and ain't come up with anything - guess what?

    Another 2 ain't gonna do anybody any good either.

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  8. Can you spell riots murder extortion corporate kidnappings suicide politicians being snuffed.Basically Disaster with a Big D.The end result Government Suppression can you spell Totalitarism aka Stalin style with a little National socialism thrown in for good measure.

    Get out if you can the show is not going to be pretty.Better possess some hard tangible assets.

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  9. I think you mean to say Those living in the USA with limited means are going to be totally *UCKED in very short order!!!!

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  10. 4:16 pm: I agree, cry me an ocean! I have been self employed (no benefits) in several jobs. I know self employed who lost their jobs..what did they do? They started a new biz! I have no patience with slackers either! One friend's biz is now doing outdoor kitchens/grills and doing great. And college grads that move back home bumming off parents are losers! My generation never did that.

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  11. You will know...May 24th.

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  12. Let's all help feed our hungry neighbors.

    And Laura, it's easy to start over again when you can get a loan, but banks aren't given out the dough. We are in a DEPRESSION! Got it?

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  13. Please pass the chitterling.

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  14. Agree with 4:16 and 4:37 wholeheartedly. If I don't go out and scrap up work, any work, 16 hours a day if I have to, NO ONE will be helping me. I might as well live in India where when you fall dead, people step over you and keep going.

    I have no patience for parasites. People that sit on their ass and collect employment or fake an injury to get worker's comp.

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  15. I would actually have to laugh if the stock market crashed on the 24th or whatever our 'May 24th Parrot" keeps squacking about.

    Alas, no, only the Banking Oligarchs know when they are going to pull the plug. I doubt if they post here lol.

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  16. How much is this 10% unemployment shit going to continue? When we get to 30% real U6 or will the MSM just keep it at 10 indefinitely?

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  17. I from Shanghai.Thankyou for much business building my ecomony .I come soon vist to buy properties very cheaply prices and sold by broke dick American.What comes around goes around.

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  18. Yea, I guess I can start a business, making, Made in the USA, tents to go with the grills that 4:37 has. Why not? We're all gonna be living in the streets soon enough!

    Porta Potties that don't stink is another good idea.

    I have a sewing machine. I can make nice burial shrouds, who can afford a casket these days.

    One thing I am doing as long as I can, is home canning. Using a pressure cooker I cooked up 3 pounds of pinto beans, turned them into BBQ Baked Beans and filled 6 jars. Total cost, about 2 bucks. Yesterday, I harvested a bowl full of green beans from my garden, washed them, cut them, and filled a Mason jar and canned it. I have cucumbers growing and have a fresh supply to eat and to pickle. It's not all that hard my friends. When stew meat is really cheap, I'll buy a bunch of it and then cook up a batch of beef stew, eat some for dinner and can the rest. "Can" really means "bottle in a Mason Jar". Two pounds of split peas ($.99 a pound and one bag of baby carrots) gave me a nice dinner of split pea soup and 4 quarts extra for canning. The one quart jar will yeald about a gallon of soup.

    I lost my job in 2008. I guess I'll never become a '99er. Looks like I'll get 2 more checks and then... I've been a Document Management Professional for the last 15 years. Barry said he would have paper based medical records, scanned to digital as part of health care reform. He lied!

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  19. Instead of trying to help find jobs for the unemployed, Barry is out trying to round up gullible youth to join the phony war on terror just the banksters instructed him to do. Hitler youth brigades.

    "President Obama told graduating cadets the fight against al-Qaeda is part of an international effort that was necessary and just."

    Yes, invading a country and killing 1.2 million people over lies, then occupying their land is 'just.' Then going out on a genocidal rampage across Afghanistan for oil, gas, and drugs. Killing, maiming, marauding. What a great country we've become. The world will be much better off when the US is dead and gone.

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  20. im in construction
    its the worst
    but 416 it will get even worse
    as more people compete against you you will find more people doing it for less
    also with another collapse people wont pay you
    those people uenployed like myself
    have found to many people for the same job.
    and i mine as well flip burgers
    for what someone wants to pay me to frame your house
    so i have to speak spanish at mcdonalds and in construction
    uenployement stops coming in you will

    see mass desruption in alot of goods affecting your buisness
    what im trying to say
    you will go bankrupt and end up curseing the country blind
    but your day of reckoning is coming
    most americans dont CARE ABOUT THE OTHER GUY
    JOE BIDEN SAID IT BEST
    WHEN YOU LOSE YOUR JOB ITS A DEPRESSION WHEN YOUR NEIBOUR LOSES HIS THATS GREAT LESS BOTTOM FEEDERS
    SO GET READY
    AS WE SAY IN THE MILITARY
    ITS TIME TO COME TO JESUS
    but americans are happy at others misfortunes
    so when you see it all disaper remmeber
    your lazy and you are the bum loser
    joe biden was talikng about

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  21. All I can say is batten down the hatches, its going to be a bumpy, messy ride down the s hole/ Also this is time to cum on jesus

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  22. Not 10% rich people, even millionaires are going to get clobbered, try the .001%.

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  23. The world will not be better off if the USA were gone. After all it seems obvious that everyone in the flipping world wants to live here! I guess that means everyone wants to live our lifestyle. I truly believe that we can save this country and end poverty for the 4 billion (out of six billion of us humans) but it must begin by killing everyone connected with this NWO shit. Many of the sheeple are waking up. Sheeple all over the world are declairing loud and clear that they want no part of a one-world government.

    The lifestyle I'm talking about is a simple lifestyle.
    - Safe drinking water
    - Healthy food
    - Safe shelter vs. living in a shack that could collapse with one hard rain.
    - Electricity, solar, wind, hydroelectric, geothermal.
    - Education
    - Basic healthcare vs. no healthcare.

    None of really needs an SUV, Power Boat, Jet Skis, Snow Skis, Mountain Cabin, Cable TV, Health Club Membership (walking or riding a bike will do the same thing) the list goes on and on.

    Barry is a child of the NWO and so is:

    The Bushes
    The Clintons
    The Congress
    The Trilateral Commission
    The Builderburg Group
    Skull and Bones Society
    and more and more and more...

    Bush started the murder spree in Iraq and Afganistan. Next it's Iran and N. Korea and Pakistan. This shit will never end until these bastards are stopped.

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  24. I hope the US still has the most powerful military when people actually expect us to pay all of our debt owed to them - it will come in handy then.

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  25. Tier 5, introduced by a woman in California, needed 25K signatures and received 26K signatures. It was presented to Congress this past week. In an election year, it'll pass. Otherwise, people will go to welfare and food stamps, and that will be long, long, long term. On the bright side, if the unemployed ever decide to show up in Washington DC, they'll push the lobbyists out of the way. The California woman asked for volunteers in the DC-Virginia area to hand-carry the petition into the Capitol Building this past week. She had no trouble getting enough volunteers.

    Bush and Chao missed their monthly jobs creation target for 8 years. Republicans haven't figured out yet that means 8 years plus of UI, sorta like Dike Cheney didn't plen on returning Iraq war wounded Vets.

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  26. I may have missed something, but I don't see any other country/Empire spreading its tentacles all over the planet and starting conflicts, murdering, occupying other lands. Yes, the world WILL be better off without the Empire.

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  27. Kill off the leaders of the Empire (The Global Empire wannabees) and then start over. We only became a hated nation in the last generation or so.

    Future historians will write about, Hitler, Pol Pot, Bush, Clinton, Barry, all in the same context.

    Once our people really start to suffer, things will get as bad as Greece has been. If it happened on a nation wide scale, Barry couldn't stop it. I suggest every city form a militia and plan to guard your water and electric supply, Barry will have them shut down and you don't want that to happen. The military will attempt to "guard" the utilities, till they get the word to destroy them. Take a moment to KNOW EXACTLY where your water and power stations are in your city. In my city, the water and power stations are on the same street, about 1/2 mile apart. That's very good to know.

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  28. I'm working 7 days a week, 12 hours a day .... in Mexico - no joke. Life is good (for me).

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  29. "As a self employed contractor I don't receive a dime from the Government.
    What a sucker !
    An upjumped worker shifted of the books of business wageworkers to be a 'little dependent Businessman" anti -union "contractor" .

    Cry me a river!

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  30. no longer give a rats assMay 23, 2010 at 1:00 AM

    bye bye freedom hello Wallmart servitude.This year im gonna vote for tweedledum for sure.

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  31. Im going to vote for 703 he is a very bright competent person, he will make a great presidunce, his attitude is like that murderer w loser bush

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  34. Contractor suckers financing their own trucks?
    Ah ,the magnificent “creative destruction” of capitalism as free trade competition concentrates all available profits in the hands of the more efficient monopolies providing even cheaper prices to those people that still have a job and cash in hand Or access to credit.
    Do not talk about jobs disappearing , just look at the efficiency of capitalism in handling and distributing all those goodies and making profits for America from the cheap labour of the rest of the world.
    Any remaining US manufacturers and trucker contractors should be pleased give up their profits Jobs ,trucks, and futures to patriotically help Wall Mart consumers out by providing cheap prices. Especially to the newly unemployed truckers on food stamps. Jobless economic recovery at its finest!

    May 21 (Bloomberg) -- Wal-Mart Stores Inc., the world’s largest retailer, is seeking to take over U.S. transportation services from suppliers in an effort to reduce the cost of hauling goods. The company is contacting all manufacturers that provide products to its more than 4,000 U.S. stores and Sam’s Club membership warehouse clubs, said Kelly Abney, Wal-Mart’s vice president of corporate transportation in charge of the project. The goal is to take over deliveries in instances where Wal-Mart can do the same job for less and use those savings to reduce prices in stores, he said.
    “It has allowed our suppliers to focus on what they do best, manufacturing products for us,” ….Under the program, Wal-Mart is increasing the use of contractors, as well as its own private fleet of trucks, to pick up products directly from manufacturers and transport the goods to its distribution centers and stores. The retailer currently moves most goods only from its distribution centers to stores.

    http://www.bloomberg.com/apps/news?pid=20601109&sid=aiL3Mymd_y_g&pos=12

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  35. Market confidence is going to take a huge tumble the more people have run out of UI Benefits. In the first depression, confidence in the ability of the govt to take care of its people will translate into lost confidence in the stock market.

    The reason the ponzi casino is still open is because of unemployment benefits to the unemployed. This allows the govt to claim recovery and maintain market confidence in the US.

    With no further plans to help the long term unemployed, the lost in purchases throughout the country is going to accelerate the collapse in commercial/business sector which will translate into lost market confidence because of plummeting business stocks...

    See how that works ? What happens to Main Street eventually catches up to Wall Street no matter how much Wall Street engorges itself on taxpayer bailout funds...

    Once confidence is lost it becomes universal as the 100th money syndrome hits all investors and they make for the door. This in turn causes what is left of the middle upper class to head for the ATMs for a good old fashion bank run from coast to coast.

    So I say let the govt play around with lives of those out of work through no fault of their own. Everyone knows that the people of America were against these bailouts from the beginning when Bush and Paulson concocted the end of the world scenario. They still couldn't fool the people into accepting the bailouts which mean that THE GOVT OWNS THIS MISTAKE OF BAILOUTS TO PROPUP BANKS!!

    Everyone also knows that the Banks and Hedge Companies engineered this massive casino disaster and they are responsible for what is coming to them as the people of the world are incensed with anger and resentment towards them. THE BANKS OWN THIS DISASTER!

    But if some numb nut Banker would sit down and study history for a minute they would know that what happens on Main Street will affect Market confidence in this ALREADY DISORDERLY MARKETS!!

    I am just waving at those fools as I know what will become of them as they see their precious game casino tank so hard that it will be heard in other planets.. They suicides will be non stop 24/7 for at least 3 years...

    I will actually have a big smile on my face as I am watching that! happen! :)

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  37. You heard it: be a man, wash toilets and eat bugs prostitute yourself whatever it takes.
    Civilization is for the weak.

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  38. I feel for the average American.Dont worry we Canuks are on your side.If you need help dont hesitate to cross over tail between your legs.Will be happy to provide you with a Timmys and tea busicuit.We have lots of lawns that need mowing at this time of year.We do provide Western Union money transfer serivices.

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  39. 10:09 They have to find us first! Remember, if they don`t see an igloo or Nelson Eddy in scarlet, they don`t know where Canader is, eh?

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  40. 10.09-1246
    A lot of Canadians are descended from American refugee stock.
    Lots of “Loyalists” were forced to flee or deported from the U.S. because of terrorism after the American republic was formed.Many others went north during the last couple of depressions.
    Canada has a big heart when it comes to looking after southerners moving north looking for work.

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