In 1948, the U.S. Government began to keep track of Chronically Unemployed Americans. In March of 2010 the number of Chronically Unemployed Americans was the largest number in the history of that Record! Obama Baby with all of his daily appearances on T.V. could not put a dent in that number. The Obama Team with Geithner, Summers and Immanuel Israel Rahm, could not reduce that number.
Something is terribly wrong.
Americans do not have jobs. They will not have jobs in the future, because there is no where to work. The factories, the companies, the warehouses, the farms, have all been sent to Asia, where the labor is cheap and hard working. Where there are no Health Plans, no Pension Plans, no Unions and no Law Suits. In Asia, there are workers only too happy to work.
Here is part of the article from Bloomberg:
U.S. Stocks Set to Fall on Deepening Unemployment: Chart of Day
By Hideki Sagiike and Masaki Kondo
April 27 (Bloomberg) — The Standard & Poor’s 500 Index is poised to fall as chronic unemployment rises to a record among jobless Americans, according to Mitsubishi UFJ Securities Co. the brokerage unit of Japan’s biggest bank by market value.
The CHART OF THE DAY shows the S&P 500 and ratio of Americans jobless for more than 27 weeks relative to the total number of unemployed. The equities gauge has jumped 80 percent from a more than 12-year low on March 9, 2009, even as long-term joblessness surged to 44.1 percent in March, almost double the level a year earlier and highest since records began in 1948.
The lower panel tracks overall unemployment, which has declined 0.4 percentage point since reaching a 26-year peak in October.
Dr. Pinna says:
This is just the beginning. Our Political Leaders are walking around with blinders on. The Obama Team has thrown trillions of dollars to Bankers, Insurance Companies, GM and Union Workers — to no avail.
How about fixing a deteriorating infra- structure and stop polluting the Gulf of Mexico?
How about throwing some of those trillions to the American Public? Perhaps they are too mentally weak to deserve it?