I have posted information from the Large Scale Lay-Off list before. The info for May has reached the highest level since this statistic was created in 1995, according to CNN. http://money.cnn.com/2009/06/23/news/eco....on=money_latest As I keep yelling, this is just another indication that the economy is rapidly falling. There are no signs that it is righting itself, and obviously no signs of RECOVERY, no matter how many Green Shoots the Obama Minions say are out there. I have pointed out that the U.S. government has been very successful in duping market sheeple through publishing totally fraudulent monthly jobs reports. With the U.S. economy losing roughly 2.5 million jobs each month. (See my post about 25,000,000 people lost their jobs in the past 12 months.) This corrupt government claimed that only 345,000 jobs were lost in May. The sad fact is that the unemployment rate continues soaring higher each month. The mass lay-offs are at record levels. Numerous state governments across the U.S. are slashing spending to meet budget shortfalls (i.e slashing jobs)!!! The Obama administration reports on the economy consistently lack connection to sanity or even semi rational thinking. I see a job rate fall that is almost linear. In the past month, I have been all over California looking at the unemployment situation. The lost jobs here are increasing at an even greater rate month after month. It is very ugly out there, and the general public seems to be oblivious to how bad it is. In looking at Job Loss charts in textbooks about The Great Depression, I get the distinct impression that we are losing jobs at almost the same rate as 1929 and 1930. As we saw last week, there is no moderating of the unemployment situation. It just keeps getting worse regardless of the Obama trickery with the numbers and lack of basic arithmetic skill. Wages have started falling as people displaced in one job are taking lower wages in their new job. Lets face it, Any Job is better than No Job. (Something I have been telling my young adult kids for the past year, and they still do not have real jobs.) Now, take those falling wages and add them to the unemployment and the cut off of liberal credit card distribution by the major banks, and we are going to see a tremendous collapse in spending. Hell, some people are actually saving for a rainy day that may be just a few days off. We are a Service Sector Economy. More money changes hands for services than any other transactions even though we are still the leading Industrial Country in the world (Twice the size of Red China). Well, with less employment and less credit and lower wages, we will be paying for less and less services in the future. Why order a pizza when you can make spaghetti for the forth time this week? Bring Grandma back from Shady Hills Rest home and give her the back bedroom. We can not afford to keep her in Shady Hills anymore. Unfortunately, when we cut back on our services, other service sector employees get laid off and they dont pay for services any more. Can you say Potential Layoff Avalanche? Obamas Stimulus Package is puny when compared to the reduction of spending that has already hit the US. If you look at the numbers, Obamas efforts are puny in comparison. So, how is that going to lift us out of this Depression? Did you know that the housing value collapse is several times worse than the decline during the Great Depression? In looking at the charts, our collapse looks to be about 2.5 times as bad. I need new reading glasses, so it might even be worse. That is a lot of money that just evaporated, and might not come back in the next few years. Of course, if we pump money into the economy, we can have inflation, and that will restore the numerical value of those homes, Unfortunately that wont restore the buying power that one could have had if they sold the house and bought gold or any other commodity. We have lost lots of our savings and are still in debt. Gosh, that sounds just like the United States government as well. Sadly, the United States currently has more than $60 TRILLION in public and private debt! http://www.bullionbullscanada.com/i...us-versus-china&catid=51:commentary&Itemid=99 That is more than every other country in the world combined. In addition, just as tens of millions of U.S. baby-boomers begin to retire, the U.S. has close to $100 TRILLION in unfunded future liabilities, with an estimated twenty Trillion of those dollars supposedly being paid out to U.S. baby-boomers over the next decade. Folks, we are in trouble and I have seen only one green shoot. Everything else is fertilizer.