REAL unemployment over 22%!

[EMRGLOBAL]

October reading on the overall index on consumer sentiment came in at 67.9, down from 68.2 in September and below the 69.0 median forecast among economists polled by Reuters.
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Inventories rise .06%.

These numbers should not surprise anyone.


People are not buyinig that unemployment is 9.6%. The man on the street is awake and understands it's in the 20%.

Also, the Depression is "Local", as is Politics and the Economy.

So, there are places that are doing well considering the rest of the country.


We will see how much of a "BloodBath" Nov 2nd will be. If middle class America is truly awake, then we will see huge numbers fall on the Dems side.

However, the Republicans are on the chopping block if they can't get this economy running if they take congress.

Questions is, who much of the agenda will OBAMA and his Socialist try to push through before the changing of the guard.

 

[EMRGLOBAL]

shoeshine boys:

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When I traded for Schonfeld in Chicago, off Monroe, there was a "Shoe Shine" guy in the underground facility.

Also,when I was trading at the CBOE, same.

In fact over by the Morgan Stanley Office off of Lasalle...Shoe shine guy and in the Tunnel that connects the "Daley Liberary" , shoe shine guy.

They are all over Chicago and back home in NYC.

 

[crgarcia]

Quote from Fireplace:

Garcia, what are you doing to prepare for 'the worst'?

I have six figures to buy the dip on the next bear market.
Besides I have a daytime job that pays the bills.

Quote from kxvid:

I love how the jobless claims are huge every month, yet the highly watched unemployment rate holds steady.

Absolute proof.

Quote from joe4422:

Most people don't realise that for over 10 years now we've had job destruction each and every year, not even including population growth.


Also, we've supposedly added jobs this year, but not enough to even keep pace with population growth.


The unemployment rate for young black men is nearly 50%

For ten years?
Can you elaborate on this?

Quote from joe4422:

The unemployment rate for young black men is nearly 50%

50% of (prison) inmates are black, yet blacks aren't half the America' population.

Quote from Kassz007:

Where the hell do you live that there are shoeshine boys?

The business district during the morning rush hour.
If you've got a real job, and you were wearing formal shoes instead of staying home wearing flip-flops, espadrilles and sneakers, you would look for shoeshine boys to get a professional look.

 

[luckyluciano]

So what needs to be doneto create jobs?
What has caused jobs to be destroyed over past 10 years? China?

Let's talk solutions.

 

[PocketChange]

The jobs have been outsourced overseas or automated.

Companies have incentives to subcontract work then hire workers and do it in house here. Technology has brought down borders. If you have a pool of 100 claims processors working 2 floors below you or in the Philippines makes little difference except to your bonus and bottom line.

The jobs are lost and will not come back until our workforce is competitive or the govt institutes policies (duties, taxes etc) to level the playing field.

There is no light at the end of this tunnel.

 

[Trvlwanderer]

Who forced NAFTA through?

 

[Fireplace]

If the 'worst' hits, your 'six figures' will buy you a loaf of bread and some eggs....or can be used to start a fire.



Oh, and you won't have a job anymore (not sure you have one now).

Quote from crgarcia:



I have six figures to buy the dip on the next bear market.
Besides I have a daytime job that pays the bills.

 

[jagadish]

Does it mean that Govt should invest more on social security?

 

[bugscoe]

Quote from jagadish:

Does it mean that Govt should invest more on social security?

Food stamps. It's a guaranteed 79% return.

 

[crgarcia]

Quote from Fireplace:

If the 'worst' hits, your 'six figures' will buy you a loaf of bread and some eggs....or can be used to start a fire.



Oh, and you won't have a job anymore (not sure you have one now).

My savings/investment capital will be worth MORE as deflation looms.

My job is pretty safe, as it's in the outsourcing industry.

Quote from jagadish:

Does it mean that Govt should invest more on social security?

They should invest LESS and void minimum salary to make americans able to compete with illegal immigrants.