What happens at the end of the year when 1.5 million people stop getting benefits?

fkbsuhites · Jul 20, 2009

well the markets went higher because "jobless claims dropped".

Or is it GS using TARP money to goose the futures higher to get a short covering rally?

hmmm.....

Quote from peilthetraveler:

http://globaleconomicanalysis.blogspot.com/2009/07/500000-will-exhaust-unemployment.html

Not only will crime be sure to go up, but this is sure to be a downward spiral that will just tank our economy even worse. All that money that was going into the economy will be even less now and I'm sure there will be many more businesses that will fail and more jobs lost on top of this.

milktruck · Jul 20, 2009

Quote from Renegen:

Here's a really good down to earth guy, an Iraq veteran too, who always has a good point to bring. He talked about this very issue yesterday! Said that riots would begin. Not affiliated.

http://www.youtube.com/watch?v=5FXt-28R0Zs&feature=channel_page

Dont worry, this guy has the solution in his response to that clip

http://www.youtube.com/watch?v=fNlZaeManBs&NR=1

IanMacQuaide · Jul 20, 2009

What happens at the end of the year when 1.5 million people stop getting benefits?

If Obama doesn't extend benefits into infinity, we'll eventually find out.

spanish89 · Jul 20, 2009

how can your country have a benefits system that ''expires and leaves you to starve to death homeless'' after a certain amount of time???!! :eek:

MattF · Jul 20, 2009

People usually got a job within or after that time frame.

Not anymore.

Renegen · Jul 20, 2009

Quote from milktruck:

Dont worry, this guy has the solution in his response to that clip

http://www.youtube.com/watch?v=fNlZaeManBs&NR=1

Amen

Illum · Jul 20, 2009

Quote from spanish89:

how can your country have a benefits system that ''expires and leaves you to starve to death homeless'' after a certain amount of time???!! :eek:

Freedom. The freedom to rise ....or fall...

When you start to take everyone's money away to pay for those who wont, you lose your freedom. You lose the freedom to fall and to rise. Being trapped in a caste becomes systemic. Better hope you are not a serf when the system is in place. If you are, your great great grandson will be one too.

Specterx · Jul 21, 2009

Quote from spanish89:

how can your country have a benefits system that ''expires and leaves you to starve to death homeless'' after a certain amount of time???!! :eek:

How can your country have a benefits system that lets people stay on government support forever, with no incentive to find a job?

Of course it becomes a problem when there's simply no work to be found. Credit bubbles are a nasty thing.

Dragons Teeth · Jul 21, 2009

Quote from Illum:

Freedom. The freedom to rise ....or fall...

When you start to take everyone's money away to pay for those who wont, you lose your freedom. You lose the freedom to fall and to rise. Being trapped in a caste becomes systemic. Better hope you are not a serf when the system is in place. If you are, your great great grandson will be one too.

We in the West have been Serfs to the system for many a long year (US included). We have barely blinked when Govts handed out welfare to enterprise but get into something of a lather when Joe gets a state handout.

makloda · Jul 21, 2009

Real disposable income per capita has been RISING in this recession, thanks to billions in government transfer payments and tax benefits. Sooner or later this will reverse and I can't wait to see retail sales THEN: