Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

Read More

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

Read More

E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

Read More

US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

Read More

Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

Read More

Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

Read More

Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

Read More

Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

Read More

World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

Read More

Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

Read More

US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

Read More

FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

Read More

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
Bookmark and Share
(No Ratings Yet)
Loading ... Loading ...

jobless rate soars obama frontpage

“The increase in jobs highlighted in the nation’s most recent unemployment report carried the sound of economic promise, but Obama administration officials on Sunday warned that the public shouldn’t expect any dramatic improvement in the jobless rate largely because of the effect of thousands of “discouraged” unemployed people who have resumed their search for work.”

One could suspect that the markets will recover no matter what the jobless rate, or other indicators for that matter, would suggest. It is also suspect that this recovery will be basically artificial until such time as individuals actually do feel ‘the positive economic activity.’ Right now investors know that if the corporations screw up badly enough they now have a government bailout to fall back on. The concept of a ‘Free Market” used to include the idea of the ‘survival of the fittest’. This constraint used to help regulate the market but now that it’s been replaced by the idea that a corporation can be ‘too big to fail’ what does it really matter what the indicators say.

Has your standard of living dropped?

View Results

Loading ... Loading ...

This ‘get out of jail free’ card puts the markets on a largely artificial basis which assumes that there will be no penalty for even the grossest mismanagement. Until the underlying causes of the crash are addressed (and this doesn’t seem to be happening yet) no real recovery can take place and individuals will not feel the difference. It may be very naive to think this, but maybe the legislators could start by reinstating the controls they repealed to create this mess in the first place. This will be difficult but until it’s done, but this idea of a ‘jobless recovery’ will remain, basically, an oxymoron until a real economy returns to the Western world.

” The increase in jobs highlighted in the nation’s most recent unemployment report carried the sound of economic promise, but Obama administration officials said Sunday that the public shouldn’t expect any dramatic improvement in the jobless rate, largely because of the effect of thousands of “discouraged” unemployed people who have resumed their search for work. Some economists assert that the unemployment rate, which held steady at 9.7 percent in March, is likely to be driven higher as many more such people are lured into looking for work by signs of recovery.

The number of people looking for jobs rose by more than 200,000 last month compared with February, according to the Economic Policy Institute — and that’s a good sign, economists say. It means that Americans are seeing more jobs being created and that they’re optimistic about their prospects. “Source: Washington Post

broad unemployment graph

Indeed, US jobs are not coming back because the factories will not re-open, because those factories are now in China. This did not happen in previous recessions.

US corporations began outsourcing and off-shoring jobs to China shortly after they were able to convince the US government to dismantle trade and investment regulations, about 10 years ago. All the corporations thought this was great because they could employ people in China for 10 cents an hour and still sell the stuff for the same price back home in the US. How long could this continue? – for as long as the consumer and US government could continue borrowing. Time is almost up.

The US will soon have no choice but to either slap import restrictions on products from China, or devalue their currency so they can keep borrowing. Either way, the whole corporate deck of cards is going to collapse. After that the rebuilding can begin. We must bring back the manufacturing jobs.

Related posts:

  1. Jobless rate reaches 9.8 percent in SeptemberCHRISTOPHER S. RUGABER (AP) The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows...
  2. Jobless recovery is like being half pregnantA very important part of our economy is the collapse of un-holy number of local consumers who do not shop locally. Just check the Wal-Mart and Cost-Co parking lots. These...
  3. The Economic Recovery That Isn'tBy Peter Schiff on Howestreet Excerpt For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a...
  4. IT Jobs To Get Shaft In Jobless Recovery: AnalystIt workers always seem to be treated as nothing more than a cost center than anything else. With the ethereal nature of IT work, it is obviously easier to send...
  5. The Coffin Shaped Jobless RecoveryBy Darryl Robert Schoon While often wrong, Bernanke is right about the recession. It’s almost over. But a depression is about to replace it. There has been much discussion about...
  6. The real truth about the unemployment rate“A true labor market depression faced those in the bottom…of the income distribution; a deep labor market recession prevailed among those in the middle of the distribution, and close to...

This entry was posted on Monday, April 5th, 2010 at 12:17 pm and is filed under North America. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Comments

  1. May 5, 2010 @ 9:48 am


    Has anyone factored in the Peak Oil part of the “recovery “? How can there be a bona fide recovery if the price of oil keeps draining the profits to grow with, and the payrolls to pay the workers a decent wage? It isn’t going to happen. The Industrial Age is over and the American worker should start thinking about returning to the farms as the Reverse Industrial Age commences.

    Posted by James
  2. May 5, 2010 @ 9:51 am


    James,

    You are SADLY mistaken. You are buying right into the plans of the globalists to put you back into the stone age.

    Peak oil is a scam designed to create artificial scarcity and jack up prices while giving the state an excuse to invade our lives and order us to sacrifice our hard-earned living standards.

    Publicly available CFR and Club of Rome strategy manuals from 30 years ago say that a global government needs to control the world population through neo-feudalism by creating artificial scarcity. Now that the social architects have de-industrialized the United States, they are going to blame our economic disintegration on lack of energy supplies.

    Globalization is all about consolidation. Now that the world economy has become so centralized through the Globalists operations, they are going to continue to consolidate and blame it on the West’s “evil” overconsumption of fossil fuels, while at the same time blocking the development and integration of renewable clean technologies.

    In other words, Peak oil is a scam to create artificial scarcity and drive prices up. Meanwhile, alternative fuel technologies which have been around for decades are intentionally suppressed.

    Peak oil is a theory advanced by the elite, by the oil industry, by the very people that you would think peak oil would harm, unless it was a cover for another agenda. Which from the evidence of artificial scarcity being deliberately created, the reasons for doing so and who benefits, it’s clear that peak oil is a myth and it should be exposed for what it is. Another excuse for the Globalists to seize more control over our lives and sacrifice more American sovereignty in the meantime.

    http://www.infowars.com/articles/economy/peak_oil_index.htm

    Posted by Jason

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.


Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights. "