Thursday, October 30, 2008

Unemployment - devistating impact

Unemployment - A hidden danger

Some news that will show the rocks lurking beneath the water.

On Oct. 3, the U.S. Bureau of Labor Statistics' reported that over the past 12 months, the number of unemployed has increased by 2.2 million and the unemployment rate has risen by 1.4 percentage points. Total non-farm payroll employment decreased by 159,000 in September and thus far in 2008, payroll employment has fallen by 760,000.

What is the impact? Unemployed people use their resources to survive (credit cards, etc.), but cut back consumption as much as possible.

Ripple Effect: 70% of the US economy is based upon consumer spending.

Retail will plummet - and all of the manufacturers and suppliers will starve. The economy will slow.

Anecdotal evidence:
There was a 60 Person line at Costco yesterday...people looking for any employment.

These people are easy pray for the fake solution "we will keep you in your house" debt pirates.

More suffering in the future.

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