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The economy continues to collapse. Sad But True.

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Joe Neubarth
User ID: 772877
10/31/2009 7:53 AM
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The economy continues to collapse. Sad But True.

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It continued to collapse. Don't pay attention to the false numbers. I have been pointing out that the system is totally corrupt. The only numbers that reflect employment in this country that can be believed are the Unemployment Insurance claims. Those are tabulated on the state level and are accurate on the number of people who have lost their jobs in the previous week who feel that they qualify for Unemployment Insurance because they were employed for the requisite time period (Six months to one year in the various states.)

In the past 12 months, 30 Million Americans have lost their jobs. Don't believe the Federal numbers as they are totally bogus.

No Federal survey or private assessment of the employment situation is reliable. Don't even try to tell me that you believe this report or that report or any report that might be politically influenced. They are all corrupt to the max and can be bought by corrupt politicians to say whatever the corrupting element wants them to say.

In the present case with two million to three million people filing for Unemployment Insurance claims every month, Unemployment is a predictive indicator of what is happening in this country.

Remember, those UI claims on the state level are about two thirds of the people falling out of work on a weekly basis. The other one third do not qualify for Unemployment Insurance so don't waste their time filing out the paperwork.

Case in point, I have seen five dentists in my local area go out of business in the past three months. Two of them were in the same medical building. They had to close because they were not making enough from their patients to be able to pay the rent for their office. Not one of them filed for Unemployment Insurance. There one day and gone the next. Pooof! no more dental office and a "for rent" sign in the window (To be shown by appointment only.). That medical office building where they were doing business is half empty now. I wonder if the local bank that now owns that building is going to go bankrupt? They can not sell the building as it is a losing business. My guess is that many of the remaining doctors and the small pharmacy in the building are behind in their rent, too. The local bank that financed the construction of the building had to foreclose on it because the developer went bankrupt five months ago. The bank picked up six retail properties that they financed. All are underperforming or nonperforming real estate. The bank is in serious trouble. FDIC time is drawing neigh.

Anonymous Coward
User ID: 803093
10/31/2009 8:00 AM

Re: The economy continues to collapse. Sad But True.

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Quoting: Joe Neubarth 772877

The Unemployment numbers are not accurate because once a person finishes collecting and is "off the books" he is no longer considered unemployed. Also, for anyone who has a part time job they are not considered unemployed either. The numbers are skewed. For an accurate reading see shadowstats.com

Galaxy Subscriber

User ID: 805848
10/31/2009 8:04 AM

Re: The economy continues to collapse. Sad But True.	Quote
Luctor et Emergo.

Anonymous Coward
User ID: 717934
10/31/2009 8:10 AM

Re: The economy continues to collapse. Sad But True.	Quote
After practically no work in my small biz from Jan-Sept, I now have a flurry, but its not enuf to make up for the rest of the year. January-March are traditionally slow for me anyway and they'll be here in two months. Everyone else I've spoken to in my line of work is in the same situation - business down 40-50%.

Anonymous Coward
User ID: 752389
10/31/2009 8:35 AM

Re: The economy continues to collapse. Sad But True.

Quote

After practically no work in my small biz from Jan-Sept, I now have a flurry, but its not enuf to make up for the rest of the year. January-March are traditionally slow for me anyway and they'll be here in two months. Everyone else I've spoken to in my line of work is in the same situation - business down 40-50%.

Quoting: Anonymous Coward 717934

Many small businesses that are experiencing forty percent decline in customers can not pay the rent, and are closing. It is getting really ugly out there.

Anonymous Coward
User ID: 807085
10/31/2009 8:48 AM

Re: The economy continues to collapse. Sad But True.

Quote

End the US Recession & Global Depression by re-adjusting credit-card interest rates to banking line of credit rates.

The blokes with 29% rates get to meet their obligations when their interest rates drop to 7.5% and they start buying more tv's, computers, and other shopping necessities for their loved ones!

Poof! A whole new era of consumerism is born!

Because financial policies (Fed banking) is about liberating credit and making it more readily available for consumption.

Remember credit cards are a form of line of credit (banking) and the President should discourage Al Capone style credit cards at shylock rates if his intent is truly to resolve the economy when his administration speaks of stimulus and economic revival and that the money being spent is not being funneled into their pockets somehow.

oridin

Anonymous Coward
User ID: 806728
11/1/2009 12:27 PM

Re: The economy continues to collapse. Sad But True.	Quote
I saw this coming 20 years ago, what do you think was going to happen when they sent all the high paying manufacturing jobs to foreign countries.

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