Data from The McKinsey Global Institute estimates the real de facto unemployment rate in the United States would be 24.78%.
Thus, there are almost 39 million, not 15.1 million, or even 24.3 million Americans who are no longer working or looking for work, and that figure is before the Federal Reserve kicks Brian Deese into high gear. [2]
Since there is not enough police, National Guard or military to keep order when 39 million people panic, Barack Obama will restore order by telling his followers standing in lines that this nation, unlike in the past, will put its hands on "the arc of history and bend it once more toward the hope of a better day."
As a president elected in a landslide by young and old, rich and poor, Democrat and Republican, black, white, Hispanic, Asian, Native American, gay, straight, disabled and not disabled, Obama will lead the nation out of its unsustainable American Dream and into a great new depression.
Even with evidence to the contrary, Americans believe government is suppose to take care of them because "it's their job." In an environment of homelessness, poverty and suffering, millions of unemployed Americans will forget their 60 years of unprecedented prosperity--at the expense of the Third World and the environment--and look for someone to blame.
I don’t even care anymore. It’s starting to dawn on me that we deserve it. America is a bunch of useless sheep. The commies have won.
It could very well be that more American citizens are without jobs than without health care. But what does this president focus on - and why?
I’ve been hearing the “90% are employed, happy days are here again” meme for about 6 weeks now. Soon it will be on state run media.
The level of economic idiocy necessary for the McKinsey Institute to make such an absurd claim beggars the imagination.
The US bought the products those 3rd World counties produced.
With the US Economy in decline, those markets are going to vanish thus eliminating most of the few sources of external revenue those 3rd world states could generate thus they are going to be more and more impoverished.
Economics is not a zero sum game. Because
A is rich does not mean B must be correspondingly poor to compensate. It is possible, as the last 2.5 decades demonstrated for all to get richer together and, as the next 2 decades are likely to demonstrate, it is possible for all of us to get poorer and poorer together.