Yet the goobermint claims unemployment has remained steady at 9.6%
Gee,someone seems to be massaging the numbers pretty hard,eh?
<----- Drinks the Koolaid
The good part of people who have lost their jobs. There are people who have run out of unemployment, and still there are not jobs that a person can raise a family. If they can't work and support their family, the go on the public dole. And then there are people like me that are in the process of going onto SS.
When I get my bank statement I can tell when the SS came in. I check the statement to be sure money was put in and what I have taken out. Make sure if any checks have cleared. And with e-cashing them it is fast and you know they got the money. I check the balance. Ins says allow 10 day mailing a check to get to them. I have not gotten my new ins card yet.
I have heard that too people taking early retirement as out of work and could not find work.
Retirement is not unemployed so they don't count. Once they can not draw anything they do not count. Active looking for work it seems. Lot probably do not have unemployment. You work for you self you sure not have it.
The implosion of the financial system was created by the actions of the Wall Street financers that have been looting the country for decades.
They created mortgage products (no doc, liar loans, Alt-A, negative amortization) designed to encourage people to commit fraud. They purposely promoted this massive fraud because they had perfected the art of derivatives.
The issuers of these fraudulent mortgages bore none of the risk from their guaranteed default. They packaged them into MBOs and MBSs, bought AAA ratings from Moodys, and shilled them to pension managers, insurance companies, municipalities, states, and little old ladies. Then they bet against their own products with credit default swaps.
Their greed and avarice was so extreme, they leveraged their own balance sheets 40 to 1 and then bought their own toxic waste. When their MBA created models proved to be defective, the entire house of cards collapsed. Strauss and Howe anticipated a financial catalyst related to immense levels of debt would trigger the next Fourth Turning:
It is unlikely that the catalyst will worsen into a full-fledged catastrophe, since the nation will probably find a way to avert the initial danger and stabilize the situation for a while.
After the near collapse of the financial system in September 2008, the authorities took unprecedented actions to avert a Second Great Depression.
Henry Paulson, the Goldman Sachs U.S. Treasury Secretary, who had warned his own staff that a Wall Street derivative disaster would happen, immediately reacted like a former Wall Street CEO. He convinced his Harvard MBA boss, George W. Bush, that the only way to save the country was to fork over $700 billion to the Wall Street banks that created the manmade disaster.
When Congress initially voted down this banker bribe, Wall Street showed who was boss by crashing the market by 777 points in one day. The bought off politicians in Washington DC then towed the line and passed TARP.
Bank interest has gone down. One here on savings pay 4/10 of 1% now. The other is just under 1%. CD is small one I have and it pays 2/10 of 1% now Got to cash it in and get at least 1% or near as I can. What little money I have I want it safe . I have to cash it and put in to saving at least. One bank will pay 1.49 p CD's of 27 months. I have been having a round. So far 2 mornings at the bank . Now waiting on a call. Jodi put in a call to see if I can add to this little deal I have. I doubt it as it pays 3%. No will not go for stocks and such. Got to be safe . This sure shows what a mess we are in with the economy.
Years back I thought if I saved up a $100.000.00 and could get 5% I could about live on it in retirement. Banks were paying better than 5% then. I tried to figure it with low interest. OMG I never thought interest would ever go back to so low. My penison what little is left is suppose to be in safe stuff. I have just over a year to get it now. The on plain SS. Had to take it faster than I wanted. I sure do not know the answers. I do not know how long I will live. What I have has got to last me. Son said I should not figure on living to 101. Use my money.
I was going to bring this DOW up. Budget has to have the cuts done by Thanksgiving and on to be vote on in Dec. If not automatic cuts will take place. We still really not sure what will happen. We know they get more oney to spend and there will be cuts. I know I am not expecting any raise in SS. I am working on my budget that way. And I figure med ins will go up some more. I have to cut some where. Inless you are getting good raises every one is going through it. It has all got to do with the economy.
Just a quick comment-The chickens are coming back to roost-with a list. I feel lousy, but that photo of Odumbo with his 2 year old "pouty face" on Drudge was priceless. Don't forget to stock up on toilet paper. See you guys a bit later....Dan
I find it telling that Ocheeseburger has not uttered a word in three days regarding this debacle. I do hope he is packing his crap and going back under the rock he crawled from under...Naw, too much to hope for. The sand box antics of our ruling aristocracy are typical-pointing fingers and bellowing at each other. Absolutely stunning leadership examples, one and all. I am going to totter up to the garden and encourage the tomato plants to get with it. And destroy a few slugs. I can pretend each one is a national politician as I sprinkle salt on it.
double wow! You think it has knocked the penisons again? Or did people get wise and put in to safer stuff?
I really do not understand it. But I suppose most spent the "free" they got. Which they wanted you to do. Throwing money at the problem did not get rid of it , just delayed it? But it does not look like it is over ad just wait and see.
The recent stock market crash — and the concurrent collapse of bond yields -- has many people believing the U.S. economy is headed toward a recession. The capital markets seem to be pricing in a dramatic slowdown from the current sluggish pace of growth.
. Just as the 99.5 percent updraft from March 2009 through this spring didn't signify a huge macro snapback, a 15 percent decline doesn't necessarily signify an imminent macro downfall.
Couch it in any terms you like Daniel Gross, but the thing is buckling at the knees. See a broker took a header in South Korea. I wonder if Geithner, Bernanke, and Greenspan would mind taking a triple gainer off the Washington Monument for our entertainment? Neh-they probably have no sense of humor...
Post by mightyspuds on Aug 13, 2011 0:43:25 GMT -8
Most Americans dont even have 1000 dollars,now thats scary!!!!!!!!! -------------------------------------- NEW YORK (CNNMoney) -- When the unexpected strikes, most Americans aren't prepared to pay for it.
A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday.
Only 36% said they would tap their rainy day funds for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card.
"Make it your ambition to lead a quiet life, to mind your own business, and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody."