Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, “there’s no possibility to restore 8 million jobs lost in the Great Recession.” — CBS News
Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.
“We inherited a godawful mess,” he said, adding there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”
Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.
Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.
“We know that’s not enough,” the vice president said.
Last week the White House put out a Recovery and Reinvestment Act update claiming that between 2.2 million and 2.8 million jobs were either saved or created because of the stimulus as of March 2010. In signing the Recovery Act into law on Feb 17, 2009, Mr. Obama said the measure “will create or save 3-and-a-half million jobs over the next two years.”
Looking at recent history, say the last fifty years, one would wonder how it was possible that organizations like the International Monetary Fund and the World Bank under the shadow of organizations like the Trilateral Commission, the Council for Foreign Relations, and the United Nations could systematically put Third world countries, one by one under financial control by lending them vast amounts of money, knowing that they could not ever pay it back.
Subsequent loans came with conditions of allowing these organizations to control infrastructure, healthcare, agriculture, mineral extraction, fresh water resources, etc. basically landed control of these third world countries in the hands of these organizations. The next step was to deal with the First world nations, China, Russia and the communist block. It is apparent what happened with the Communist block. Observe what has happened to Europe and North America. We now know where the money is coming from, the US Federal Reserve prints it up. Who is in control of these organizations, who owns the Banking Cartel, the Energy Cartel, the Pharma and Chemical Cartels, the Argri-Cartel? It seems that the same people are behind it all.
Manufacturing and industry has been grossly reduced in first world nations, without good paying jobs, there is no strong economy. People with education will be working for government backed organizations, health care, education, civil services, security etc and the rest of the masses will be lucky to get a low paying McJob. Remember, the food production, energy production, and basic necessities will always form a low level economy. People need the basics to survive. We have seen the peak of the middle class in First World countries. And you say there is no conspiracy?