Here are two graphs from the many on Barry Ritholtz's The Big Picture web site. These summarize for me the mess the US (and the world) is still in.
The first shows that the number of jobs in the US is back to where it was 10 years ago. The problem? The population has grown over the last 10 years. But no new jobs. The economy has been stagnant. Thank you George Bush for your idiotic "trickle down" economics. Thank you Barack Obama for your loving care for Wall Street while turning your back on Main Street:
The following graph shows how really bad the current unemployment is. Only the early 1980s as the Fed strangled the money supply with 19% interest rates does unemployment top the present in recent history. But look at the graph for April 1941 with 11.8%. This hammers home the point that when you have a financial crisis (like the Great Depression of the 1930s and the Great Recession of 2008) it can take a decade (and a world war!) to finally get unemployment down from the stratosphere. Sadly, Obama just doesn't "get it". He thinks that catering to the Wall Street crowd is the way to "trickle down" money into the hands of the average Joe. Well, trickle down didn't work under Reagan in the 1980s and it isn't working now.
The government is "of the people, by the people, and for the people". Enough of government "of Wall Street bankers, by Wall Street bankers, and for Wall Street Bankers". If Barack Obama doesn't "get it" then he needs to be tossed. Since he isn't up for re-election until 2010, that means tossing all the incumbents in Congress and going for anybody who promises a "new deal" for the American people!
Sunday, December 6, 2009
US Employment/Unemployment
Labels:
Bush,
financial crisis,
Obama,
recession/depression,
United States
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