Posted on 11/30/2010 2:04:16 PM PST by Nachum
Federal Reserve chairman Ben Bernanke on Tuesday warned current high levels of unemployment could become entrenched and have a "very long-term effect" on the US economy.
Describing job creation as "probably the most important economic issue facing America today," Bernanke cautioned on the risks of long-term unemployment during a debate in Ohio.
With nearly 40 percent of the US workforce unemployed for more than six months, fears are growing that that high jobless rates may be more than a temporary result of a brutal recession.
"This is very unusual and very worrisome," Bernanke said, warning that workers could become detached from the workforce, skills could erode over time and firms become more skeptical about the unemployed.
(Excerpt) Read more at breitbart.com ...
Ya think?
Say Ben, next time you do a money bomb could you send the helicopter over my house? Thanks.
Very unusual?
No, it has been the norm in Socialist Europe for decades.
Yes, yes, but were told right here, most of these Americans are just no good lazy types, even though most all were working prior to 2007....lol
Depression ya think?
“Federal Reserve chairman Ben Bernanke on Tuesday warned current high levels of unemployment could become entrenched and have a “very long-term effect” on the US economy”
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It’s nice to see that Bernanke has an iron grip on the obvious.
And he needs to replace the word “could” in the above sentence with “have”.
Dear Ben,
What did you think would be the result of outsourcing manufacturing jobs to China for the last twenty years? Prosperity??
Until you are replaced in January 2013, please go away and try to do as little damage to the economy as possibe. And please STFU.
Regards,
America
They are direct result of Obama's desire to take down what is his belief in an Imperialist America and reshape it into a third world Socialist catastrophe. See Dreams from My Father.
He just wants another stimulus bill and another quantitaive easing program. The past stimulus and QE’s haven’t bankrupted America yet, so Ben Shalom Bernanke wants more.
I did a double-take on that too.
I think you read it right; I think they wrote it wrong.
Maybe they mean “40% of the UNEMPLOYED workforce...”.
Dopey Bernanke needs to understand the real issue—the more money you give people while they are unemployed, the higher unemployment will be. Like Europe in the 70s/80s, we are moving toward structural unemployment of 7-10% unless the Socialism of the last decade or two is rolled back.
It’s going to take us several years to crawl out of this mess that the demorats have created.
Probably just another example of deep understanding of economics from the journo-lista class.
At 40% unemployment for more than 6 months, I think I would be hearing gun fire outside my office window right now.
Socilaism increases unemployment. Dismantle socialism and employment increases. Seems simple to me.
>> Probably just another example of deep understanding of economics from the journo-lista class.
Well, you know the pseudojournalists are hurting (financially) these days... and the first ones they let go seem to be the proofreaders. :-)
I believe this is all planned. The more they get dependent on the government the more power they have.
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