Unemployment hits 10.2%

SoWal Insider

Nov 6, '09 · 8:47 PM4081

What amazes me is that Wall Street is still going gang busters. 25% of the country is unemployed, 1.4 trillion in debt for the year, another 1 trillion next year, and investors think consumption is going to grow? Oh wait, I forgot, that debt, it's getting flushed into the economy as "free money" to consumers so people will spend what the government doesn't have... a new twist on the same old problem. Now it all makes sense. When you need growth, and nobody has a job, borrow, and write checks. That's the answer! Somebody else will have to deal with the ugly long term effects down the road. :cool:

Edited Nov 6, '09 · 8:50 PM

Replies

Beach Fanatic

Nov 7, '09 · 8:12 AM#2

What amazes me is that Wall Street is still going gang busters. 25% of the country is unemployed, 1.4 trillion in debt for the year, another 1 trillion next year, and investors think consumption is going to grow? Oh wait, I forgot, that debt, it's getting flushed into the economy as "free money" to consumers so people will spend what the government doesn't have... a new twist on the same old problem. Now it all makes sense. When you need growth, and nobody has a job, borrow, and write checks. That's the answer! Somebody else will have to deal with the ugly long term effects down the road.

Yeah, and if you, others, and I, pulled this stunt we would find our tails in jail, charged with fraud and forgery. But since the government can get away with it, carry on. Makes perfect sense to me. (Sarcasm off)

Beach Fanatic

Nov 7, '09 · 11:47 AM#3

What amazes me is that Wall Street is still going gang busters.

The whole Wall Street reaction beggars belief.

We don't have much hope of being out of this recession before late 2011 (if by then) and we'll never recover from the damage done and debts incurred by decades of big spending, easily purchased politicians.

Worst of all, we are still in the thrall of big spending, easily purchased politicians.

Nothing much has changed.