The unemployed figures may be understated, if you include those with forced furloughs, those taking hour reductions rather than layoffs, many working 4 day workweeks, and those seeking full time empoyment forced to accept part time positions, there is a TON more slack in the employment arena than is seen thru BLS stats. This additional SLACK may make this Recession more dubious, more difficult and very likely could turn into a JOBLESS RECOVERY.
The FED and GOV stand ready and have been trying to reinflate the credit bubble and in so doing are creating an even bigger hazzard, a debt bubble of historic proportions where the GOV needs nearly $2T of bond issuance to foreignors to fund operations...$100B-$200B every month with NO end in sight. The private sector economy has been ravaged, and replaced by a gov fed one.
MBS issuance no longer comes from various banks and financial firms, the only player since THEY sullied the mortgage backed security market is the FED. With the FED expansing their balance sheet by nearly $1.5T or more.....of DUBIOUS quality.
We have given away our econmy of manufacturing and innovation for one of consumption and debt reliance, and shipped our dollars overseas and helped build our competitors in world economy. NOW, they OWN us.
ANY pronouncement from FED or GOV officials, using BLS or other GOV gathered data should be looked at with a jaundiced eye, and a knowing we have been SOLD OUT.
How can the world be run by a consortium of central bankers whose only purpose for existing is to make a profit? The POWER to print money is the power to control the world finances and is not in the hands of the governments nor the people they serve.
The BEAR MKT will sort this out, as the shit hits the fan, one must try to SURVIVE this period, reduce or eliminate debt, raise cash, and pray!
D
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