Outside of the world of domaining, but extremely important for the overall economy, the The U.S. unemployment rate rose more than expected in October to 10.2%, its highest level in more than 26 years.
Nonfarm payrolls fell by 190,000 last month, with the largest job losses in construction, manufacturing, and retail trade.
Economists had expected a 175,000 loss.
The unemployment rate is now the highest since April, 1983.
Michael – Month after month I have been saying that the Administration is not only not doing anything to rectify unemployment, but they are not even addressing it. An unbelievable absence of discussion on the most critical issue facing the country.
Obama made all the TV publicity rounds to push health care initiatives that are largely unpopular, and then shoved this down America’s throat. But the enomomy and joblessness have gotten practically no attention by comparison. Just plain weird.
Alterantive energy, utilizing our huge natural gas reserves, and drilling domestically for oil are no-brainers and should have already been heavily promoted by the Administration. There’s the new economy and a HUGE lift for the American economy and joblessness. Not to mention the monumental importance of becoming oil independent so that we are not slaves to Middle Eastern oil and forthcoming $5.00/gallon gas prices.
” Are we there yet ? ”
Ed – Michigan
Big chunk of these unemployed are unemployable…
.
both USA and Europe need NOW a New Deal like employment plan to quickly exit from the economy crisis
.
These boom & bust cycles are engineered on purpose courtesy of the FED. That’s how the money is transferred to ‘higher, tighter, and righter hands’.
Think Bush I and the savings & loan scam; Think Clinton repealing the Glass Seagall Act; Think Bush II and ‘fog a mirror & get a home loan.’
We are now in a era of where profits are privatized and losses are socialized/nationalized.
It will be interesting to see what the ‘dollar carry trade’ will bring to the global financial sphere. If the current levels of corruption are any indication, it will be something fierce.
There’s nothing like personal financial pain to get supporters for the Globalist and their ‘New Deal’.
Quote –
“Think Bush II and ‘fog a mirror & get a home loan.’”
It was Clinton that signed the bill that permitted the home loan fiasco. It was Bush 2 that permitted the loophole to continue by ignoring it.