World Bank warns unemployment threatens US economy

Discussion in 'Economy' started by Neubarth, Nov 11, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    World Bank warns unemployment threatens US economy
    World Bank's Zoellick warns high unemployment rate threatens US economic recovery

    * By Alex Kennedy, Associated Press Writer
    * On 6:30 am EST, Wednesday November 11, 2009


    SINGAPORE (AP) -- Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.

    Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.2 percent in October, will likely remain elevated in 2010.

    "You're going to have problems with delinquencies of credit card loans, consumer loans, people won't be able to pay their mortgages," Zoellick told reporters in Singapore. "Some banks are going to continue to be troubled by bad loans."
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    As I have been saying, Unemployment numbers like we have been seeing is a Leading Indicator, not a lagging indicator.

    Each month another two to three MILLION Americans lose their jobs and file for Unemployment Insurance. Obama and his corrupt minions can ignore that and say that only a tenth of that is real unemployment, but the reality is apparent to the rest of us who are watching the economy.
     
    Last edited: Nov 11, 2009
  3. Richard-H
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    Richard-H Gold Member

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    No shit unemployment threatens the U.S. economy. Laying off people is about the worst thing that businesses can do at a time like this.

    At least the governement is doing everything in it's power to help keep as many people in jobs as it possibly can within the limits of the Constitution..

    What is the private sector doing - laying off more people!

    You wingnuts are so full of shit. On one hand you insist that government stay out of the economy, the you turn around and blame the governement for the state of the economy.

    What a load of crap!

    Why don't you hold the private sector responsible for unemployment? They are the ones that have caused this massive economic crash and they are the one laying off everyone.

    Here's a real good way for the governement to fix the unemployment problem real quick - SOCIALIZE EVERYTHING.

    Don't like that? Then maybe you & your wingnut friends ought to accept the responsibility for this mess and start bringing everyone back to work.

    Or otherwise SHUT UP!
     
  4. Neubarth
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    Neubarth At the Ballpark July 30th

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    I don't favor Socialism. I'm a Neo Fascist and believe in a very draconian justice system. You break the law, you die. That is a real simple solution to crime. There would be no more police chases on our city streets. The would just call ahead for a sniper to take out the operator of that red Camaro with license plates of FUGUP-24

    Bank robbers would be shot upon leaving the banks by an automatic system that would key on a cash bundle.. Corrupt CEO's and CFO's would pay with their lives for their corruption. Corrupt politicians would be shot after a quicky hearing before three judges who would also be the jury. "Two Guilty's and You're Gone!" would be the norm.

    We would eventually rid the world of people with criminal propensity in their DNA, and help rid the world of the overpopulation problem at the same time. Wouldn't that be Wonderful?
     
  5. Toro
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    Toro Diamond Member

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    Unemployment is a lagging indicator.

    If there is more unemployment, it will be because of something that has occurred in the economy or the financial system and corporations react to it.

    Corporations are generating huge amounts of cash. There is no reason for them to lay off more people without some exogenous event as the economy has stabilized.
     
  6. Neubarth
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    Neubarth At the Ballpark July 30th

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    Toro, you are not thinking. Seventy percent of the money in this country exchanges hands in our SERVICE SECTOR. IF people do not have money because they are being laid off, the exchange of money in that service sector goes down and more people are laid off.

    So the simple understanding is that in a Service Sector Economy, Increasing Unemployment is a Leading Indicator of future layoffs. Anybody who pays attention to the type of economy we have should be able to understand that.

    As far as corporations generating huge amounts of cash, other than the big banks that are borrowing at ZERO percent interest and lending at FIVE percent interest or more to Business Real Estate loans and other loans, few companies are rolling in cash right now. Ninety percent of the companies are just trying to keep their heads above water, and many of them are losing ground.
     
    Last edited: Nov 12, 2009
  7. AV8R
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    AV8R Flying High Again!

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    In other news: Water is Wet. :lol:
     
  8. Richard-H
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    Richard-H Gold Member

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    In that spirit you would have to agree therefore that any man who fathered more than 5 kids would have his gonads chopped off, right?

    :eusa_whistle:
     
  9. Neubarth
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    Neubarth At the Ballpark July 30th

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    Not at all. I have fathered over 300. All of them that I raised were top honor students. Of course, I come from a family of doctors and carry on good genes with a fantastic life span and beautiful features and extremely high IQ.

    I take it that you do not.
     
  10. Richard-H
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    Richard-H Gold Member

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    Wow, only a couple of months ago it was 30, now it's 300 - that's some pretty fast work.

    Your obvious propension for hallucenations certainly accounts for your political and economic views....had a real good time back in the 60s, huh?
     

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