Welcome to the Depression Compression!!!!!!!!!!!!!!!!!!!
May 07, 2009
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As I told you last week....at around 8300....we were at a top.
Tomorrow...we will likely learn that OVER 17% of the American labor force is unemployed or underemployed.....
A number we have not seen since the Great Depression.
The irony is this time around we reached the number at a much quicker pace than we did in the Thirties. MUCH QUICKER......I wish it wasn't so....but the facts are the facts......and this time around we can't export to grow our way out of it.
After listening to Bernanke....we won't be able to borrow our way out either.
Today....another 600K Americans lost their jobs and filed for Unemployment Benefits for the first time in JUST ONE WEEK!!!!!! This has been happening week after week after week......
Millions of American children are on the verge of starvation....expect this number to rise dramatically as the Summer progresses....
WASHINGTON – An estimated 3.5 million children under the age of 5 are at risk of hunger in the United States, according to a look at government numbers by an anti-hunger group.
That's more than 17 percent of children who could suffer cognitive and developmental damage if they are not properly fed.
...
According to the Agriculture Department, 11 percent of households lacked enough food for an active, healthy life, before the economy worsened late last year.
http://news.yahoo.com/s/ap/20090507/ap_on_go_ot/us_child_hunger
Please pay special attention to the last sentence......based on my research...this number is much higher right now and likely to get much worse as the summer progresses.
PREPARE.....DON'T FEAR!!!!!!!!!!!!!!!!!!!!!!
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