We are on the same unemployment track line as Greece was on in 2006 at 9% gradually bottoming out at 7.5% in mid 2008 then spiking dramatically to it’s current rate of 19%.
When people stop looking for private sector jobs that don’t exist and live off the continual public dole and the government’s answer is to create more government for jobs that is
paid for by taxing the producers, we have
the perfect storm that is now Greece and the larger Eurozone. Our perfect storm is just a few years away.
I’m tired of waiting. I’m loosing my job at the end of this month, so it’s no longer a recession for me, it’s a full-blown depression.
I used to wonder how the US could have been in a recession that dragged on and on and on for an interminable number of years until cured by an inevitable war. Now at least I can see why a depression occurs: It occurs when government enacts policies that won’t ALLOw it to get better.