When Will Fools Have Enough????
January 09, 2010
– Comments (2)
Last year, over 20,000,000 Americans lost their jobs and applied for unemployment benefits.
Millions of independent contractors, especially in the construction industry, also lost jobs/income but were never counted.
Tens of millions of additional Americans saw their incomes reduced materially....many forced to work part time.
AND THE ONLY REASON THE GOVERNMENT IS REPORTING ONLY A 10% UNEMPLOYMENT RATE IS BECAUSE IT IS REDUCING THE LABOR FORCE EVEN THOUGH THE POPULATION IS GROWING.
Evidencing the above is the largest drop in government tax receipts in American history even though the government incurred a $1.4 trillion dollar deficit driving massive taxes to government.
CRAZY ISN'T IT......THE ONLY THING KEEPING OUR ECONOMY AFLOAT IS GOVERNMENT RUNNING A DEFICIT THE CITIZENS CAN'T AFFORD.......as the citizens lose their jobs, homes and and politicians are bailing out the bankers for cutting off credit to the nation destroying our private economy and the incomes of private citizens??????
People are finally waking up and figuring out they have been had.......maybe it took enough distress and pain to see how ridiculous it is to bail out the bankers that drove American into insolvency and punish the citizens.
It is getting very clear that a division is developing between private America and government/bankers......as the division gets wider, frustration and anger will drive increasing tension within America.
The question is whether the private economy has a chance to recover or has it and the nation been infected with so much debt that it is basically insolvent and inneffective to compete against the unlimited free money being given to Wall Street?
As the private economy employs over 2/3 of America.....we are well on our way to lose many more jobs this year than we lost last year......and we are starting the year with over 17% unemployment applying the BLS' own numbers.
Until we bring debt levels in line with decreased revenue levels as a result of bankers cutting off credit.............our nation will continue to shut down......until there is not much left to close.
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