All the recent talk about a double-dip recession is nothing more than pure B.S.
Why? Because the U.S. economy ...
A. Never emerged from a recession. Period.
Quite to the contrary, in reality ...
B. The economy is already in a depression.
The problem is that no one wants to admit it. Certainly not in Washington. Not on Wall Street either. And, unfortunately, not even on Main Street.
But the fact of the matter is that in real terms, the U.S. economy has already contracted more than it did during the Great Depression.
I'll prove it to you in a minute. But before I do, here are a few simple facts that also show you that the economy is either rivaling the depths of the 1930s, or is already in worse shape ...
First, the true unemployment rate in this country is at least 22%. Not the 9.5% mythical figure Washington is reporting.
You see, Washington plays with the unemployment number. The figure they report every month is what they call the "official" unemployment rate. But it includes only those ages 16 or older who are not currently employed, but are able and available to work, and "actively seeking work."
The problem: Washington conveniently leaves out people who are working part-time, people whose hours have been dramatically cut, and "discouraged" workers — those who are ready, willing and able to work — but have essentially given up looking for a job because they can't find one.
Add these workers into the mix and you have an unemployment rate of 22.7% — more than double the so-called official number and almost as bad as the Great Depression of the 1930s.
And that's just a nationwide average. In places like Detroit, Los Angeles, Allentown, Pa. and other urban areas, the real unemployment rate is as high as 40%, far worse than during the Great Depression.
I agree totally with this report. In our area of Va., claims that there is 5.2% unemployement. again the numbers do not tell the accurate numers. Many of the folks that are looking for jobs are either unemployed, working less than 20 hours per week or their wages have been severely reduced. This particular area was heavy into manufacturing (textiles, pharma., and the like) nearly all has gone. One thing that appears to be flourishing is Wal-marts and resturants (haven't quite figured the rest.)
ReplyDeleteI do however beleive that this is not a recession, but a depression. Why would anyone entertain the thought that the Federal Gov't would tell us the truth?
I have been calling this a depression since 08 and still no one believes me, their loss, when they come to me when tshf, they will be out of luck!
ReplyDeleteThey don't count anybody that has been unemployed for over a year. I also don't think they count recent graduates, as you have to have actually held a job before they'll consider you unemployed.
ReplyDelete4:35, counting the people who just don't have jobs over the age of 16 is probably around 40 to 60% "not employed".
ReplyDeleteIt seems that of all the people I meet one out of two work.
I don't consider it the fault of young people for not having jobs. Who really wants to have to drive around or have their parents drive them around to 30 different places filling out idiotic applications so they might possibly get hired at one where they'll make seven to ten dollars an hour? Well, then they'll have to go to a two week orientation process. Screw it. Don't waste the gas money.
For anyone trying to get hired for a job requiring a specific degree that's even harder. Not to mention it being not only harder to find one that's open but the pay might not be much more. They've put it in our heads for so long that if you get a degree by burying yourself in 100K of debt you'll be given a high paying job automatically.
"Go to college, education is so important." You remember the message? HA! Yeah, 50 years ago school was an education, now it is dumbification. Progressive Propaganda, social programs, money schemes, recruiting for movements; religious, democratic, environmentalism, military, etc. And academics? Nope, schools don't really focus on that. A flood of schools with a flood of employees to bounce students around like cattle and the student benefits in no way. Seems like the design of schools today is the same as the government's involvement with people.
Everyone in this country has been robbed. I can't exactly name names or point the finger but someone or something (many things) has robbed everyone. The country is gasping for its last few breaths. What a poor, pathetic death for a once glorious and honorable entity.
Its double dipping because it taking a turn for the worse. For the last year the economy had stopped falling as fast as it did between Oct 08 and April 09. Now beginning to get much worse again.
ReplyDeleteThis Gov't admin. and it's cronies are as corrupt and vile as any I have seen during my 65 years.
ReplyDeleteI just read an article on the "Shorebank Scam".
Let me tell you if you want to read an article that will give you left wing Liberal BHObamacrates a wake up call, pull up Shorebank +Obamha.
when will u learn when that they meaning those in charge cause the recess come on smart guy why dont u smart as harvard people c that rocafellas jp morgans the central bankers and u call your iq good whow
ReplyDelete