Loading ...unfortunately there’s more than enough truth to it ! So much that it becomes plausible and thats a problem for any society.Theres is a point of NO return without a depression to cure it and the accompanied misery when the cure needs to take away guarantees, safety nets and minimum wages to fix it.That will be a real problem ..try taking away food stamps first and see what happens just for starters.Its a slippery slope.Welfare needs to stop short of supplying ALL of peoples needs and supply only whats necessary to prevent abject poverty ..the INCENTIVE to work is needed .jobs jobs jobs …..not debt debt debt .
If the Dollar loses its place as the reserve currency….. our wages will have to go down to a level where it meets Chinas wages that are going up and a parity is reached .In the meantime we are subsidizing the difference with DEBT and that has reached a point of diminishing returns …We MUST get JOBS going and do it FAST ..
The real unemployment rate is about 20 % not the 5% as Gubberment reports ..the difference is covered by food and shelter subsidies and they are not reported as unemployed ..The LABOR participation rate tells it better .From 2000 level of 67.3 % its been falling to 62.9 % today . Its not healthy and not sustainable ! To make matters worse we still import unskilled labor that prevents wages from going up .Its a Corporate crime ! Oh well if it dont work out we can always try my aforementioned Stimulus package in my 12:49 post. hehe