It is Not an "Economic Recession"; It's a "Total Economic Crash and Collapse"
No More Sugar Coating It
Literally, everyone is going broke, even the bank is going broke to put things into perspective. People are losing jobs, the unemployment rate is up to 8.1%(as of February when this article was written). That means 8.1% of Americans, are starving,desperate for food,money and maybe even shelter because they might not have any shelter if they can't find a job somewhere.
If the economy collapses and a good number people can't find work, and people will say "That will never happen." but it might and it is on its way right now and if that happens we are in major trouble. See it works like this, unemployment equals, unhappiness and starving for food,homelessness,no health care and pretty much everything everyone fears. When people are unemployed, they get scared, and when they get scared, they do things.
They'll start thinking things like "Where am I going to find my next meal?", "How am I going to feed my children?", "How am I going to pay my rent?". Probably even "How will I get my drugs" and these are probably the very same drugs that person started doing from the stress of having no money in the first place. They'll start doing something about it like say, breaking into somebody's house, robbing somebody on the street, rob a bank. They might even just kill somebody and take their money or kill somebody just because they're angry. Not having money or a job leads to serious problems, everybody knows that.
The major point of this whole articles that when a large percentage of the population can't find a job, which side is at fault? The side with all the money and employment? Or the side without any money or employment? Is the economy collapsing out of just plain greed, or are we failing elsewhere with creating jobs and a stable market. My money is on greed.
The economy is collapsing, it's not in a "recession" and don't try to confuse us or let us on lightly. We as American people have known for a while. The economy is collapsing and it may crash and never recover. These are desperate times for everyone.
Published by Jimmy Smith
I enjoy writing about the latest Sports,News and Entertainment news, as well as reviewing electronics and laptops. I also was an electronics and laptop repair person for several years before becoming a freel... View profile
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1 Comments
Post a CommentDon't give greed and abuse by financial houses all the blame. Just before the crash I was desperately trying to figure out if steel stocks and other commodity producing stocks were in bubble mode or not. Oil was clearly in bubble mode but not necessarily so because there is a structural building out of brand new first world industrial economies. The real estate bubble was pretty obvious at the beginning but it just continued in bubble mode until, I the person who could see that prices did not pencil out as "investments" just gave up on seeing property values come crashing down. It was hard to figure out with so much garbage paper money in the system why inflations was not taking hold as one might expect it to be. I looked at bank stocks even a year or two before the "sub prime" mortgage bubble crash and though "oh no , these banks have no collateral with low loan to value/ nothing down and interest only mortgages. Nothing crashed . I looked at real estate prices assuming i might