Moral Outrage
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Posts Tagged ‘unemployment

Why the worst recession since the Great Depression

June 29, 2012

Facts shared in a speech by US Senator Bernie Sanders, the longest serving independent member of Congress in American history: The American people are angry because they are living through the worst recession since the Great Depression. Unemployment is not 8.2%, real unemployment is closer to 15%. Today the wealthiest 400 individuals in America own […]

US unemployment in actuality surpasses 22%

January 10, 2012

Last Friday, the Bureau of Labor Statistics (BLS) said 200,000 new jobs were created which dropped the unemployment rate to 8.5%. Economist John Williams of says the government reported more than 40,000 jobs that didn’t exist. In his latest report, Williams said, “The December 2011 payrolls included a false, seasonally-adjusted gain of roughly 42,000 […]

American statistics heading into 2012

December 26, 2011

50 million Americans live below the official poverty line, while another 100 million live in “near-poverty,” struggling to support themselves on incomes so low that they are one misfortune away from destitution. According to a study by the McKinsey consulting firm, it took six months for the US economy to return to pre-recession job levels […]

The United States as a Third World country (Part 1)

December 4, 2011

The evidence suggests that, without fundamental reforms, the United States will become a post industrial neo-3rd-world country by 2032. Fundamental characteristics that define a 3rd world country include high unemployment, lack of economic opportunity, low wages, widespread poverty, extreme concentration of wealth, unsustainable government debt, control of the government by international banks and multinational corporations, […]

Poverty in the sputtering American economy

September 22, 2011

A snapshot of how Americans are faring more than two years after the recession: Americans below the poverty line in 2010: 46.2 million Last time the poverty level was this high: 1993 Poverty line in 2010: $22,314 for a family of four, or $11,139 for an individual Rough amount the poor are living on per […]

Defense cuts could boost US unemployment

September 19, 2011

The Pentagon is warning Congress that potential sweeping cuts to the defense budget would put millions more out of work and add a percentage point to the country’s unemployment rate, officials said Thursday. The Pentagon described a dire scenario if a congressional “supercommittee” fails to agree by November 23 to trim $1.2 trillion from government […]

The Global Financial System is Ready to Blow

August 22, 2011

To understand the mess we are in, it’s important to know how we got here. We begin with the 40th anniversary of Richard Nixon’s announcement that America was suspending the convertibility of the dollar into gold. (at $35 an ounce.) With concerns in the late 60’s mounted over America’s rising trade deficit and the cost […]

Why unemployment and job figures vary depending on Government statistics

August 14, 2011

Mark Twain once said, “There are lies, damn lies and statistics.” Government statistics seems to fall somewhere between the last two. Why? Partly because of the statistics we focus on. When the unemployment rate comes out, we always focus on U3: the proportion of the civilian labor force that is unemployed but actively seeking a […]

Why has the US Government made a total mess of a solvable economic problem?

August 11, 2011

Does anyone really know what we have experienced on the global economic scene? Even Nobel Prize winner and economist Paul Krugman writes, “I’m still trying to make sense of this global intellectual failure.” Policy makers almost everywhere have failed dismally, and seem determined not to take on board the lessons of experience, either historical or […]

Protect Yourself in the Global Financial Meltdown

August 9, 2011

With daily economic forecasts projecting doom and gloom and no recovery in sight, people need to learn how to survive economic disaster. Robert Wiedemer’s new book, “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown,” quickly is becoming the survival guide for the 21st century. This wasn’t the first time Wiedemer’s predictions hit […]