What's funny about the unemployment rate is that wall street has put out the streamers, filled the balloons and spiked the punch bowl in anticipation of the big economic recovery... at which they will no doubt lay claim to having resolved the one of the worst economic disasters in the history of the world. The only problem is that the unemployment rate keeps going up, and up, and up.... I guess its kind of spoiling their victory party because in order to generate profits for shareholders they have been laying people off, and yet the dumb asses expect to see a recovery by pulling money out of the economy and lament the fact that main street is complaining.
And look who spent a bundle and won the world series and then had the nerve to have a huge ticker tape parade... seems to look a little like spiking the ball in the faces of all those who are suffering during the economic collapse. You would think that NYC celebrating anything right now would be a huge PR nightmare but then again they sure look clueless like they have a "let them eat cake" attitude. The US is beginning to look and feel like a NYC-centric country.
Anyway 10.2% is a conservative estimate, the other 7% of unreported unemployment or referred to as the "real" unemployment rate includes people who are under employed because they have part time or flex work when they would rather have full time work... so no these people have not given up... they are simply being screwed over twice, once by having to pay for the bailouts and again because the f"ckers getting the bailouts are laying people off to generate profits for shareholders and for their bonuses.
Screw me once shame on you... screw me twice... well we you can't screw me twice because I'm going to get my guillotine. I guess we will see what happens in 2010.
Last edited by Diesel_dyk (2009-11-08 00:25:47)
