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Saturday, December 05, 2009

Jarey writes on Unemployment in the USA

Some aspects of the world economy are apparently doing better, for the moment. But the unemployment rate in the U.S. is 10.2%, or 15.7 million, with no help in sight until 2012 most likely. But those numbers don't include part-time workers wanting full-time work and 'discouraged workers' who have given up hope of finding a job and tend to make the unemployment rate lower than it would otherwise be.

Working the other way, to increase the unemployment rate above what it would otherwise be, are government payments made to people only if they fit into the 'unemployed' category. Unemployment compensation stops if a person announces that he no longer wants to find a job. Thus, even if a person does not want to find another job, he still may make the trip to the unemployment office because in effect the government pays him several hundred dollars to make that trip.

'They' say this is a 'jobless recovery'! Should we wonder what has happened to the tax-base under that circumstance? Maybe it doesn't really matter any more as long as the U.S. government can just print more valueless paper money. And there will not be too many jobs in any event as we have shipped most of our manufacturing base out of the country to enhance the fortunes of the greedy international corporations. Profit is more important than the well-being of the people after all.

In the movie 'Wall Street', the character Gordon Gekko, played by Michael Douglas, said, 'Greed is good!' His philosophy is debatable, but has worked especially well for CEO's and their ilk.

The economy of China, and some other countries, is dependent on the American consumer buying their cheap products, but America is almost saturated with junk and, no longer having good incomes or fearful they won't, people are saving their money rather than spending for the first time in many years.

Read the entirety of this thread here.


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