Have Americans Come to Accept 10% Unemployment
by David Levitt
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It hasn't been that long ago that 3 to 4% unemployment in America was not only not tolerated by the rank and file, average Joe American, but simply would have had politicians scurrying for a fix or running for cover. However, for the last 4 to 5 years, now a rate of 10%, and at times higher, has barely raised a peep, much less mayhem in the streets looking for heads to roll. Begging one to ask the question, have Americans come to accept 10% unemployment?
After a solid year of steady, yet not overwhelming growth in the manufacturing and financial markets, signifying a moderate yet unquestioned growth in the economy, unemployment seems to be the only area in the recovery that has not budged. Only recently as shareholders stock has remained stagnant, because it relies on these companies growth to mature, has the need to increase labor to increase growth come up.
Yes, there has been clamoring in the streets, but the shrill cries of debatable social issues, directed by the same politicians and business interests that got us into this deficit, debt, travesty, to begin with, totally drowned out the interests of those most effected by the economies collapse, the unemployed. You must then be tempted to ask yourself the question, have Americans come to accept 10% unemployment?
As congress came riding to the rescue of the institutions that created this havoc, creating an even larger debt than had ever been undertaken before, much in the same manner as was instituted to help mitigate the misfortunes during the "Great Depression", this was not the same pony being ridden by Teddy Roosevelt.
In a reverse psychology type tactic, the goal was to increase the debt, and spread the expenditure throughout the citizenry, through job creation, to help people keep their homes that were being lost in record numbers, and stimulate the economy through the purchase of goods and services. It worked in helping us escape the "Great Depression", the difference was the firm grip, held on the rein by the mustached mascot.
Succumbing to the screaming from the social issues sector, clearly in support of big business interests, instead of job creation, where clearly these folks would surely have had to have used these funds for daily life issues, making it's way back into the banks and financial institutions where all good capital migrates to eventually anyway, relieving the stress brought on by bad investments, loans, and corporate excess, the funds went directly into these same failed institutions, that were counted on to execute these goals voluntarily, because "it is the right thing to do".
So far, for the unemployed...nada! So I guess it remains to be seen, how much, if any of those funds will be used, because "it is the right thing to do", or if it will simply be hoarded by the same 10% of the population that has raped and robbed, and made off with 90% of this nations wealth thus far. Will Americans eventually wake up, and agree to disagree on social issues long enough to focus on the issue of job creation, or have Americans come to accept 10% unemployment, after all?Originally published on SearchWarp.com for David Levitt Wednesday, August 04, 2010
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