Alstry's case for 30-50% Unemployment
As many of you know...when I started blogging unemployment was at about 6%. I use U6 as the unemployment figure because it just seems practically the right one. In Alstry's eyes, even though people are still NOT working and unable to find a job AFTER their benefits run out, for some crazy reason Alstry views them as unemployed even though some Fools don't.
Here is what my buddy awajeller said today:
Alstry, aside from your asinine nonsequiturs, you are darn right I am calling you out on your 30-50 % unemployment prediction. You are no different than the people you are condemning. You make a million bold predictions, and should any one of them show any accuracy you tout how you were right all along.
Seriously, how bold is Alstry's prediction....e
When I started blogging about a year ago, unemployment was about 6%....Then it went to 7%, and then 8% to 9% then 10% but didn't stop at 11% before going to 12% on its way to 13% an not resting at 14% to 15% and now EXCEEDING 16%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Today Discover announced it is axing 4% if its workforce. A few days ago 3M indicated it is cutting 11% after cutting a bunch a few months ago. Now hosptials, nursing homes and other health care providers are cutting. Tens of thousands of retailers are shutting down. State and local governments are dumping workers......and today our fearless leader told us to expect lots more cuts in the future.
The kicker is going to be health care and state and local governments. In 1950, only 1% of the American workforce worked in health care....today it is over 12%....a 1200% increase. State and local government is not much different......if we just cut those number in half still exceeding by many times the 1950 ratios.....we will be well over 30% unemployment real soon.
Based on my conversations...EXPECT MAJOR CUTS IN HEALTHCARE EMPLOYMENT IN COMING MONTHS.
If we are already OVER 16% per government statistics, and a number of experts argue we are over 20%.....how long do you think it will take for us to be over 30% and exceed the worst rates of THE GREAT DEPRESSION...especially since our president says to expect lots more job losses in the future?
Looks like Alstry's projection for 30-50% unemployment is in the bag....what still escapes me is why so many Fools are such Fools and fail to see what is so easy for Alstry to see...even when the FACTS are presented to them......sometimes I feel like Mr. T and really pity the Fools who keep sticking their heads in the sand.