The unemployment numbers will be released today but analysts are expecting 525,000 jobs lost in December. Yes, you are reading this right, over half a million jobs in one month.
Analysts said the economy is in danger of a reinforcing cycle of rising unemployment and declining household spending, what policy makers call a negative feedback loop, which is difficult to snap once it’s begun
Uh, I think that's the D word masked in some sort of cycle lingo. Same with Recession lasting for years. Economists and Analysts are saying some very serious things are happening without using the dreaded D. I feel like a child at the dinner table with the parents spelling out D-E-P-P-R-E-S-S-I-O-N.
Yet with these levels of job losses going on, will we hear anything about manufacturing, bad trade policy? How about canceling all of those Federal and State contracts which gave U.S. jobs to countries overseas? Doesn't it seem like a no brainer that instead of adding another trillion to the deficit that our own government could easily create millions of jobs simply by canceling offshore outsourcing contracts? Is that insane to increase the deficit all the while pouring out U.S. taxpayer funds to pay for workers in other countries while Americans go without jobs?
Nope, we're hearing about tax cuts and cutting Medicare and Social Security.
What to do when one cannot get what needs to be done?