TPA
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February unemployment numbers update:
http://news.yahoo.com/s/ap/20090306/ap_on_bi_go_ec_fi/economy
http://news.yahoo.com/s/ap/20090306/ap_on_bi_go_ec_fi/economy
The 15% Unemployment Bet
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EMF
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I Googled and found that during the Great Depression, at its height, between 12 and 15 million people were unemployed. According to Reuters, there were 12.5 million unemployed in February 2009. 
The percentage of the workforce may be smaller, but the numbers are not.
It's going to get ugly....
The percentage of the workforce may be smaller, but the numbers are not. It's going to get ugly....
EMF said:I Googled and found that during the Great Depression, at its height, between 12 and 15 million people were unemployed. According to Reuters, there were 12.5 million unemployed in February 2009.
It's going to get ugly....
Assuming the same definition of "unemployed", I would find that reassuring! You know how much less people there were back in 1934? Here's an idea...
View attachment WorldPopulation.jpg
EMF
100 kW
Yes, good point, but I am still worried about this cycle of unemployment leading to lost sales which leads to more unemployment. We are no longer a nation of rural farmers. Back in the 30's a lot of folks did not even have running water or electricity. It is different now and we are very dependent upon working for an employer in order to survive. Look at big cities like Manhattan. They cannot burn wood to stay warm or tote water from a well.
There is also a great dependency of people upon the government now and this costs money from taxes. With the combination of home foreclosures, home prices falling and unemployment, tax revenues are falling. For a decade, wages have fallen, resulting in a loss of revenue for the government. We are fighting 2 wars and could easily get sucked into another with Mexico. We are now a debtor nation and owe billions to other countries. We cannot produce enough energy to run our country without importing oil. we are in a very perilous position at the moment.
We pay out about 50 cents already for every dollar we earn, to support government. What happens when we can no longer feed the beast?
There is also a great dependency of people upon the government now and this costs money from taxes. With the combination of home foreclosures, home prices falling and unemployment, tax revenues are falling. For a decade, wages have fallen, resulting in a loss of revenue for the government. We are fighting 2 wars and could easily get sucked into another with Mexico. We are now a debtor nation and owe billions to other countries. We cannot produce enough energy to run our country without importing oil. we are in a very perilous position at the moment.
We pay out about 50 cents already for every dollar we earn, to support government. What happens when we can no longer feed the beast?
EMF
100 kW
Jobless rate soars to 8.5 percent in March
Unemployment rate highest since late 1983; 663,000 jobs lost
Source: http://www.msnbc.msn.com/id/30027181
The numbers game "Official" U3 unemployment @ 8.5% and Actual U6- U6 indicates 15.6% are now unemployed...If we take out the "seasonal adjustment" we are at 16.2% for March! All these figures come from the Labor Department. What a joke.
http://www.tcdailyplanet.net/article/2009/04/03/unemployment-85-or-156.html
Unemployment rate highest since late 1983; 663,000 jobs lost
Source: http://www.msnbc.msn.com/id/30027181
The numbers game "Official" U3 unemployment @ 8.5% and Actual U6- U6 indicates 15.6% are now unemployed...If we take out the "seasonal adjustment" we are at 16.2% for March! All these figures come from the Labor Department. What a joke.
http://www.tcdailyplanet.net/article/2009/04/03/unemployment-85-or-156.html
mthead
1 mW
John Williams, "Shadow Stats" shows the actual unemployment rate at 19.6%. This is based on how the rate was computed pre - Reagan. Today's govt figures are total BS.
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