Can anyone explain what is a jobless recovery?

If you don't have a job how do you recover?

Also it seems that the bankers are not taking paycuts.
"Data leaked so far includes pay details of managers from a Latvian bank that received a bail-out.
It reveals that many did not take the salary cuts they promised. "
[link to news.bbc.co.uk]

We CAN'T spend. We don't have any money. The criminals in Washington spent it all. And who uses credit cards when they don't know if they'll have a job in the near future?


Many people, actually, which is just what the banks like to see. As jobs disappear, or are cut back, people are being forced to use existing credit to make ends meet. This bolsters the numbers of the credit card issuer, because every time the card is swiped, it shows a negative on the USER'S account, but a positive on the ISSUER'S account. This also plays into the "Econimic Revival" story, because what they position as "increased spending" is actually no such thing. There's no CAPITAL influx, there's a credit trade, and while that makes financials appear to rise, it's just a small-scale example of what's happening on a larger scale... trading useless paper for manufactured digital numbers.

People are STILL buying something with nothing at that point, on the PROMISE that they will honour the debt. However, when there's no MONEY to pay that debt, everything in that particular chain of spending falls apart, because the BASE capital was never real to begin with.

Hmm... sound anything like a Treasury printing bills based on assets that don't exist...?

Cheers!