Quote from EMRGLOBAL:
"structural unemployment".
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another good point. That is what happens when you get rid of your manufacturing base and allow the Unions to control what little is left.
That is what you get when you have 70% of the GDP consumers spending money they don't have.
Structural unemployment will last centuries.
Yup. Another catchphrase parroted by the idiots: "jobless recovery".
The deficit and UE are the only things that stand between us and a catastrophic depression.
Thing is, that depression is already here. The jobs are gone. These astronomical deficits create a false sense of economic activity. They project merely the
illusion of recovery. It's Hot Air. If the deficit and unemployment benefits were cut tomorrow, the economy would contract immediately by 10-12%. Including ripple effects, the total contraction would be upwards of 20%. Perhaps more. That's at todays levels, with 10 million jobs already in the can.
The thing people don't get: all this borrowing done in the last 15 years - private and public - has only served to mask the
TRUE DEVASTATION wrought by offshoring. It's just papered-over the death of manufacturing with frantic consumption. When Uncle Sam's credit card maxes out, that's the day of reckoning. If Greece is any judge, we're 4-5 years out. That's when we get to witness the true damage inflicted on our Country. And it will be absolutely horrendous. Riots. Blood in the streets. Crime waves. There's really nothing that can stop that now. Trump is talking fractions of half measures. Ron Paul is the only chance, and if he gets anywhere close to the White House - let alone, the nomination - I'd wager he'll be taken out. We are living in incredibly dire times. Grim. Absolutely grim. The next trade isn't long gold or oil, it's guns and farmland outside America. People have no idea what's coming. None.
I could go on. I'll just end it with this: look what happened after 911. Sweeping measures against personal liberties. Homeland Security. Massive wiretapping. Preemptive wars and a quadrupling of the National Security State. Same after the housing crash. Capitalism was vilified. Losses were socialized. The bankers raped the taxpayer and now the FED is the defacto Czar of the economy. We are decidedly on the road to Totalitarianism. Fascism. The vast majority of our elected representatives are hardcore Authoritarians who wipe their a$$ with the Constitution. The coming economic 911 will follow a similar script. And America will cease to be America. God Knows what happens then. Now is the time to make preparations and make sure family are taken of.
