Does
anyone care?
Greed is what controls the economy in America. Our once vibrant economy has been sucked dry by the greed and lies of those in power.
The good news emanating from the White House is that the recession is ending. The bailout was successful. The economy is growing, the auto industry is rebounding, and banks are once again profitable. The economic stimulus has worked. Slightly more than 640,000 jobs have been created with the $159 billion dollars invested from the economic stimulus package to date.
Don’t believe
a word of it!
I know
something is wrong because most of the people who were laid off
along with me over a year ago, are still looking for work. Most of
them are loosing their homes or have already lost them. Most of them
have long since burned through their savings. Most of them have had
their credit ratings destroyed, and most of them, if they are
working at all, are working at or near minimum wages at fast food
restaurants or retail establishments. Stocking shelves at Wal Mart
is not a sign of economic recovery when you’re a licensed
electrician and that’s the only job you can get.
Let’s take a
look at some of the facts:
Vice President
Biden cited 80,000 construction jobs and 325,000 teaching jobs
created or saved by the $159 billion already spent of the stimulus
package. While a job saved is great, it’s of no help to the
unemployed worker who is most in need. A job saved is a job
continued for someone who is still employed and therefore, should
not be in the deep financial debt of a long-time unemployed
American. I doubt most
of those whose jobs were saved were in danger of losing their homes.
At the same
time, the Labor Department reported that the October unemployment
rate rose to 10.2% with 558,000 additional workers losing their jobs
in October. This brings
the number of people unemployed nation wide to 15.7 million. The
government numbers don’t tell the whole truth. Many economists put
the actual number of unemployed at somewhere near 17.5%. But the White House says we
are doing better!
Meanwhile it’s
high times on Wall Street.
The biggest
three banks and investment houses who have received billions of
dollars in bailout funds, and paid back their TARP money are at it
again with plans to pay out billions of dollars in bonus money to
their top employees. All this while severely cutting back lending to
businesses and consumers, charging
exorbitant
interest rates on their credit cards, and canceling cards of
long-time customers. Goldman Sachs is expected to pay some $21.9
billion in bonuses to its employees. Most of Goldman Sachs’ money is
being made risking billions trading gold, stocks, bonds and
derivatives without having to worry about losing, since the taxpayer
guarantees all Goldman losses, if any, while Goldman is allowed to
keep all its profits.
What a nice
way for Goldman Sachs to show their appreciation to the American
taxpayer for bailing them out. Just think of how much good that
money would do if only it were spend helping honest Americans keep
their homes.
Wouldn’t it be
smart to stop foreclosures thereby creating a need for new home
construction? That would go a long way toward creating jobs. Then
the unemployed carpenters, electricians, plumbers and all the other
workers involved could go back to work and have the money to pay
their mortgages again and have money to spend which would be big
boost to this economy.
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