Posted on 02/08/2009 8:30:26 PM PST by An Old Man
The true percent of unemployment is fast approaching 25%. Are we in a depression yet?
Very interesting. Thanks for posting.
Some People think so.
IMF May Run Out Of Cash To Fight Crisis In Six Months, Strauss-Khan Warns
The International Monetary Fund could run out of cash to firefight the economic crisis in as little as six months, its managing director has warned.
By Edmund Conway, Economics Editor
Last Updated: 7:02PM GMT 08 Feb 2009
Dominique Strauss-Kahn said the Fund needed an urgent cash infusion if it was to continue bailing out troubled economies in the future. Mr Strauss-Kahn also indicated that the world's advanced economies were now tipping from recession into full-blown depression, cementing fears about the scale of the economic slump in rich nations.
[snip]
L
Some of us have known this.
Sadly, ya can't believe a single word the government says.
Thanks to Reid, Pelosi, Dodd, Frank, et al.
Not a problem. How much do they want? We can just set the press on overdrive and print whatever they need.
The 1 said: "All this work is making my staff tired". I gotta go take a nap now.
We’ve been hearing about the big corporations and national chains, but not about local small businesses. The number of “Space Available” signs I saw in southern New Hampshire today between Nashua and Manchester was more than I’ve ever seen at one time before. Very troubling...
Official government statistics have been misleading for years.
If 20% of us are not employed, obviously nobody wants to borrow money for a new car or home. Throwing “money” at banks isn’t going to do anything.
Misleading statistics give people the impression that things are under control. If more people knew the truth, panic would overwhelm the government and political parties would lose support.
Look at inflation. The official government stats show 1 or 2 percent. Anyone shopping for groceries, or watching their electric bill go up know inflation has to be at least 10%.
How can smart people trust a government that lies and covers up the truth continously?
That recently released ‘08 GDP number was rather ... convenient.
“Looking for a Job?”
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Also, some are unemployed by choice, for various reasons.
Poor health, retired, in prison, living off a trust fund/investments, supported by someone else. . .
Or...college tuition. At my school, in 1984, twenty-four years ago, annual tuition and fees was around $1,800. Now, it's $9,500 (for this year). The annual rate of increase, compounded, is seven and one quarter percent. And, my school isn't even the worst when it comes to tuition and fee increases.
Real inflation is in the eight to ten percent range.
Not to mention that in many states, the newly unemployed are having difficulty just getting through to their EDD or unemployment offices. In addition many states are now lacking funds to pay the recently unemployed.
“...taxes are too high on a 2nd income so it’s not worth it to work...”
Yes, the second income pays taxes, needs more clothes, commute costs, more eating out money, sometimes child care costs etc., more outsourcing of housework type stuff - the 2nd job doesn’t pay nearly as well as the 1st, usually.
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