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

Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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

Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

Read More

How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

Read More

Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

Read More

Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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 ...

HC Dominic Cacipoli

“”By working and knowing it wasn’t steady, and it wasn’t going to last long, I cut my own throat,” said Krawiec, 60, of Plainville.’

Unemployment benefit extensions are nice, but to the unemployed it offers little hope, what they would like to hear is how the government is going to restore the jobs that the Elite purposely shipped offshore. Sad thing is, in their hearts they know the jobs are not coming back, as a matter of fact they are still going overseas.

Obamanonics doesn’t work. We all knew that long ago, it isn’t working now and won’t work in the future. There is a perfect test plan we can all look at California. The liberal economic plan has been in play in California for 20 years and they are doomed. They have drove business out of the state, over taxed the people and spent themselves to bankrucy. Welcome to the world of US liberal economics.

How can a state with 35 million people and the (formerly) 13th largest economy in the world find itself in this position? They are only rivaled by Massachusettes as the most liberal state in the union.
Unlike Mass.They are being ravaged by illegal immigrants who are sucking the life out of the state social programs.

unemployed losing benefits 2010 graph

Instead of adopting policies that are out of the Californian playbook the Feds should look at Texas which is a state despite the current economic situation is booming. Why? because they follow a more conservative economic plan of low taxes and better business environments. They too have an illegal immigrant problem but it hasn’t sucked them dry like California. A message to the federal government should be: look at Texas vs. California and you’ll see the right way and the wrong way to do things.

Obama could follow California’s lead, then the US could just go bankrupt and start over. “The study finds that the total cost of regulation to the State of California is $492.994 billion which is almost five times the State’s general fund budget, and almost a third of the State’s gross product. The cost of regulation results in an employment loss of 3.8 million jobs which is a tenth of the State’s population. Since small business constitute 99.2% of all employer businesses in California, and all of non-employer business, the regulatory cost is borne almost completely by small business. The total cost of regulation was $134,122.48 per small business in California in 2007, labor income not created or lost was $4,359.55 per small business.”

Long-Term Unemployed Find it Pays Not to Work

Hartford Courant April 1 2010

Ten months after Mark Krawiec lost his road construction job, he eagerly took a six-week assignment on Route 2 that paid just over $1,000 a week.

Big mistake.

“By working and knowing it wasn’t steady, and it wasn’t going to last long, I cut my own throat,” said Krawiec, 60, of Plainville.

That’s because in January 2010, the state Department of Labor reset his benefits based on the work he did in 2009. His weekly check dropped from $544 to $254.

Krawiec had no idea that accepting work would slash his unemployment pay this way. Hardly anyone does.

It’s a quirk in the federal rules that’s most likely hurting thousands of Connecticut residents who have been searching for work for more than a year, many from the hard-hit construction trades.

In the first year of unemployment, the size of the benefit check is based on your old salary. You can go right back on unemployment after a temp job, and nothing changes. But federal law requires states to recalculate benefits for the second year. If you worked a few days or a few months, the second year’s checks will be based on that lower earnings total.

People who went to work would have been have been better off staying at home if their unemployment continues for months in the new year. Some people have had their benefits cut by more than $400 a week.

If Krawiec had not gone back to work, his benefits would have stayed at $544 through July of this year. Read the full article.

Related posts:

  1. Want to be rich? Work for the public sector!“With the federal deficit and national debt heading into the stratosphere, taxpayers can no longer afford to support such lucrative government compensation. Public sector pay and benefits at all levels...
  2. Unemployed steal to maintain lifestyle; Freegans delve into your trashUniversity of Melbourne criminologist Dennis Challinger said there were links between a worsening economy and rising crime. This is easily explained if one understands how “official” unemployment is reported to...
  3. 23 states report higher unemployment for SeptemberMeasuring unemployment is an art which can lead to highly variable rates. Unsurprisingly, the U.S. government uses a method that excludes millions of Americans who seek employment. The lower rate...
  4. Global currency devaluations won’t work“The result of currency devaluations can be boiled down prosaically: savers get screwed. Remember, it is the Baby Boomers who have the largest accumulation of savings- either in the form...
  5. More than 1 Million Jobless lose benefits March 1 2010“Right now, the 1.2 million workers who will lose benefits in March are being held hostage by partisan attempts to delay and block this critical legislation,” said Christine Owens, executive...
  6. Tough Times Leading Unemployed To Switch FieldsWhat this article fails to dive into is that service sector positions as are described as the replacement careers are not substitutes for manufacturing as is the case for Jeff...

This entry was posted on Friday, April 2nd, 2010 at 9:24 pm and is filed under Scams. 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.

1 Comment

  1. June 1, 2010 @ 11:51 pm


    All the Fat Cats on the Hill ought to pass a bill that employs every unemployed person in the country so they too can join the ranks of the overpaid and highly benefited public servants that work for the government. Makes perfect sense to me since this government is hell bent on going further into debt anyway.

    Posted by Steve

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. "