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U.S. On the Road to 1950s-Style Unemployment, But it May Only be a Pit Stop
According to the article’s author, Howard Schneider, the U.S. is economic cycle is headed for a crash.
Schneider lists several factors and the possible scenarios that could result.
One item the economists and mainstream reporters always fail to mention, is how Big Business leaders and billionaires handle the “hard times” of economic downturns, and the value of their “major investments” (insurance policies) in the congressional Republicans and the “moderate” Democrats.
The inevitable recession, or worse, depression that is, indeed, coming will force tens-of-millions of average Americans into financial disaster. However, the United States’ 745 billionaires and the many more corporate CEOs, CFOs, etc. know they can rely on their stooges in the House and Senate to borrow all the cash necessary to provide them the subsidies, tax cuts, and forgivable federal loans required to maintain the growth of their personal wealth, and the quarterly bonuses they deserve.
Ain’t the U.S. free market capitalism grand...? It keeps the American Dream alive for the very rich, but unfortunately, no one else.
finance.yahoo.com
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U.S. On the Road to 1950s-Style Unemployment, But it May Only be a Pit Stop
According to the article’s author, Howard Schneider, the U.S. is economic cycle is headed for a crash.
Schneider lists several factors and the possible scenarios that could result.
One item the economists and mainstream reporters always fail to mention, is how Big Business leaders and billionaires handle the “hard times” of economic downturns, and the value of their “major investments” (insurance policies) in the congressional Republicans and the “moderate” Democrats.
The inevitable recession, or worse, depression that is, indeed, coming will force tens-of-millions of average Americans into financial disaster. However, the United States’ 745 billionaires and the many more corporate CEOs, CFOs, etc. know they can rely on their stooges in the House and Senate to borrow all the cash necessary to provide them the subsidies, tax cuts, and forgivable federal loans required to maintain the growth of their personal wealth, and the quarterly bonuses they deserve.
Ain’t the U.S. free market capitalism grand...? It keeps the American Dream alive for the very rich, but unfortunately, no one else.
U.S. on the road to 1950s-style unemployment, but it may only be a pit stop
The last time the U.S. unemployment rate fell below 3%, as one Federal Reserve official has predicted it will this year, the Korean War was nearing its end and a recession that saw legions of workers lose their jobs was just around the corner. While the circumstances were unusual, it...
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