The Obama Unemployment Depression?

Author: Ernie Fitzpatrick

Author: Ernie Fitzpatrick

So, last Friday we hear that the unemployment numbers for December took another 85,000 hit. How is it that we keep hearing that things are getting better and better when the unemployed ranks keeps expanding, the US$ keeps falling, consumers keep holding back on spending, and foreclosures keep increasing? Tell me how that works will you? How does that say things are getting better? Dow 6,000 and change in 2009 and now Dow 10,000 and change! Is life good or what? But could we see a double dip, the proverbial "W", and maybe even Dow 4,000? More and more people are starting to say that and the biggest reason is because the Obama administration is clueless to what's going on in the world. The Obama administration is more interested in FORCING national health care on the populace than making unemployment a major goal. But, even IF unemployment got to the top burner for political action, what it would take to tune things around would go against the grain of the LEFT WING agenda. So, it appears that unemployment will be the straw that breaks the economic back of the American economic system. Am I just hyper-ventilating? let's look at some numbers then. The current unemployment numbers that everyone sees stand at 10%! Thus there is something like 16,000,000 people UNEMPLOYED! However, we've got two big problems here. This number does not count those that have been unemployed for at least six months, who have dropped off the "unemployment ranks", though still unemployed. And, it doesn't count those PhD's who used to make $200,000 a year but now flip burgers at the nearest hamburger joint just to survive. When you throw in those folks, the unemployment rate is 17.1%! George Ure is "out there" even with an economics degree; however, his arguments for something north of 20% unemployment this year is startling. George writes, "The US by my estimate may be headed toward 15% official unemployment in the 'official headline number' and 21.2% in the U-6 Data this spring or summer. That means based on a 153-million workforce: 7.65 million additional unemployed. You read that right. An additional 7.65 million people will be out of work THIS YEAR! No matter how you cut it, that bodes terrible for everyone. Did someone say Dow 4,000? :-(About the Author:

As a spiritual-futurist, I have a BA degree majoring in history. One cannot know the future without knowing the past which holds clues to what is on the horizon. The world is in such a rapid expansion of knowledge that we are close to entering a tipping point that will forever change earth as we know it.

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