Today on CNN Newsroom
The latest news and information from around the world. Also connect with CNN through social media. We want to hear from you.
October 5th, 2009
08:44 AM ET
Unemployment: What’s to Blame?
Former Federal Reserve Chairman Alan Greenspan predicts U.S. unemployment could hit 10%. Currently the nation’s unemployment rate is at 9.8%.
So what do you think is most responsible from the worsening employment picture: a failed stimulus package, an economy much worse than we knew, employers cutting deeper and hiring more slowly than expected, or something else all together.
Leave us a comment. We’ll share some of them on air in the CNN Newsroom, 11am ET — 1pm ET.
On Twitter
RT @CNN: Afghan soldier faces deportation after arrest at US-Mexico border. Veterans groups call on Biden to help Abdul Wasi Safi, who is j…
RT @CNN: Missouri lawmakers are pushing back on the adoption of a stricter dress code for women in the state House. Watch Missouri Democrat…
RT @CNN: A Houston area man has been charged with aggravated kidnapping after holding a woman he met on a dating app captive for five days…
RT @CNN: Nurse on staffing shortages: 'It's not only physically toxic, it's mentally toxic'
New York State Nurses Association President Nan…
RT @CNN: "We will not vote for anyone else but McCarthy."
Rep. Dan Crenshaw (R-TX) speaks to CNN's Chief Congressional Correspondent @mkra…
All of the above; mostly employers laying off and very slowly rehiring ir hiring @ all
they said a while back unemployment may reach 10% so there no need make such a fuss over it until it goes over that. i know without stimulus package it would be much worse– employers not hiring as quickly
The companies taking jobs overseas.
What's to blame for our problem is corporate welfare, illegal aliens, and working moms.The solution is for congress to eliminate all tax deductions and incentives for companies that outsource jobs, and hire illegal aliens. Hire 5,000 immigration officers and remove as many illegals as possible and seize the property of any company that hires illegals. Finally, provide a 10,000 tax.credit for stay at home moms.
Our goverment is to blame, NAFTA is a big problen, the free trade agreement. We've outsorced all major business out of this country so our goverment officals could bank, which they have. Am I the only one that keeps and eye on the corruption scandalls that have been becoming more and more common place. And you wonder who's at fault. We the American people are also to blame .Why? We keep allowing this to go on.
Its as plain as the nose on your face and the reason for most problems.GREED and POWER
Tony:
Employers are cutting extraneous expenses just like everyone else. In my field, IT, they are asking themselves whether they are getting the value out of that extra report, extra fast processing, or brand new, shiny interface. If they don't need it....they don't buy it...and that is why I am scrambling to find my next assignment.
Pat
The Congress not doing their job!
The republicans are acting like high school kids at a food fight in the cafeteria.
Democrats have the majority and can't get together.
They live inside the Washington Loop and do not listen to the voters, while voters are out of work, no healthcare insurance and their 401K's are low or gone.
It's a shame and the Congress needs to take responsibility and Do Their Job!!!!!!
All of the above! GREED! Companies are more worried about the profits of the so-called share holders. And of course they "need" to pay their CEO's multi-millions of dollars while us p-ons who make pennies in comparison get laid off. What a SCAM!
I beleive the real cause for the job loss was, in part, the Recovery Act. It was so focused on the economy as a whole it missed the most important source of jobs – small businesses. The Act totaled over $700 billion but less than $700 million was set aside for small businesses. The Administration needs to open up direct lending to small businesses as banks are not making loans. Without loans, no jobs. It is simple as thant.
Greed is the #1 problem. With the failures in the financial and automobile industries, thousands of hard-working men and women lost their jobs. However the top echelon of these companies still raked in billions in bonuses. Very, very few at the top paid any penalty whatsoever. The disparity in pay between the CEO and the front-line worker is one of the worst in the world.
The economy is correcting itself after decades of overspending (and an appalling lack of savings) by citizens and the Government and an overly easy money policy from the Fed. To think that a systemic economic collapse of this magnitude could be rectified within even two or three years is unrealistically optimistic and naive.
However, even when things do recover, I doubt that we will see the high, debt-driven growth of the Bush Administration.
I think that the unemployment is higher then your numbers show. Do you take into account all of us that have exhausted our unemployment benefits and can still not find a job. How are we suppose to find a job when companies are not hiring because it is cheaper to pay their current employees a little overtime if needed then hire a new person and have to pay benefits
Most of the good jobs lost by millions of Americans require at least two years of full-time retraining (college, etc.) to qualify for. That is why unemployment is high and going higher.
Our jobs are going into every country you can imagine. That is why we have no jobs here and it's not going to get any better. It happened to me and lots of other companies.
When you call 411, phone company Verizon, the person on the other end looking up the number for me, and the number is in the USA, has an accent. I ask the person where they are and they say "we can not disclose that information".
So what does that tell you?
Until we get more jobs in for people that need them our economy will continue to stay at a stand still or get worse as time progresses. There should be an incentive to start new businesses for people coming to the end of receiving unemployment. For every unemployed person they could employ 10+ people helping us to rebound faster. I think Obama should set up a grant for the unemployed people out there to start new businesses granted they hire X amount of people over the course of the next year.
The American Business’s MODEL is failing. The Business Schools are wrong and that is why the Recovery is taking much longer and causing so much job loss. A few Economists have dared to make that point, but we will have to see if the Academic Community will concur. The Band-Aide approach of laying off workers for the sort run and bringing them back when business turns around, only works for a Short Time problem. For a long business downturn that model has backfired. Employees should have been furloughed and not let go. That way business would have kept all their people and their work Teams would have stayed in place. The real “Worker Bees” would not have been let go. We are seeing businesses that are unable to function and make profit because they lack the staff to make things work. The good news is that there is so much DATA out their right now on this problem that the Schools of Economics and Business will be forced to make adjustments. The bad news is that those adjustments will come too late.
Tony the Government needs to get more aggressive at chasing the new skill jobs. They can do it in several ways. 1. Implement Fast Track Training and certification programs at the Unemployment Offices Nationwide. 2. Provide Tax incentives to Employers that participate. 3. Create Tax dis-incentives for outsourcing and importing labor. American companies have become lazy at training and employee development and they need a little push. The free market has given up on American Labor in many areas and they need a little push and assist (aka carrot and stick) to do the right thing.
I fear that a lot of the unemployment woes can be based on greed. Greed drives the stock market and when the economy started to tank last year, CEO saw an opportunity to cut costs by cutting jobs.
What those same CEO's forget is that cutting costs also means cutting future growth. The same people that they are leaving unemployed are the same people that they need to fuel future growth, and even at a more micro level are the same people that they need to buy their products and services.
One idea that could help us all move forward is for companies to forego immediate cost cutting, and rather plan for the future by investing (yes at the expense of short-term gains) in growth.
Tony there are a number of causes. The high price of healthcare to employers of the active worse force and retirees. Our shopping habits - opting for cheap goods from China and elsewhere that show up on the shelves of big box stores. Demand for higher and higher salaries whether they are earned/deserved or not which cause companies to move jobs overseas to "adjust" their "cost structures". Bad trade deals. Poor schools that produce too many people qualified for McWorld jobs but not much else. Intransigence of policy makers on the issue of green technologies. Shrinking number of job-creating,risk taking entrepreneurs. Bottom line, we are ALL to blame.
Poorly targeted stimulus money didn't address the housing problem. Incentives for investors to buy real estate would be very helpful. The banks have made small business loans nearly impossible to get. Why were there no strings attached to TARP? Also, the economy is much worse than most of us know. Right now it's jsut smoke and mirrors.
I think that the increase in job loss is due to most Fortune 500 companies and other companies subsidizing their jobs to other countries where they can save money by paying workers less than what they would here in America. I think America should close its borders and not allow anyone from other countries who are not living in the United States to come over and get jobs duing the recission; when the Americans who have lived in this country for hundreds of years can not support their families. Is it not hypocrtical for us to try to give someone from another country a chance to live a better life when we can not even take care of our own?
Painfully simple Tony... the President, his administration and his congress have focused on everything but unemployment. Over the course of several decades the only thing that has helped jobs is a tax program that encourages businesses to hire. Like a snowball rolling down a hill once people are hired our economy picks up steam and gets stronger and stronger.
The reason we have made little or no progress in the\ nation's
unemployment problem is the fact that the administration has mistakenly turned its priorities to health care
Whats to blame?
1. Jobs going overseas: i.e. myself as a transcriptionist, even though it's being brought back here, it pays almost less than minimum wage!.
2. We as Americans – being so 'vain' and thinking we'll never lose our jobs, will never work for low or comfortable wages and allowing foreigners to access the jobs we DID have.
3. Company CEOs who were greedy and not concerned about their employees.
4. Before the 'bottom falls out' on a particular job, i.e. auto industry, what happened to Americans having an imagination and trying to create our own business/company.
There is a very long list of underlying issues that have led to our current econimic state. But if you wish to sum it up into 1 term it would be "Corporate Greed". Those to blame are those who have exercised Corporate Greed and thoes who have stood by and allowed it to happen.
The reason, I believe, that the recovery has been so slow is due to fear. Companies want to expand to fill the vacuum left by their competitors collapse, but there is still too much fear in the investment world. This cycle will continue until there are enough "opportunities" for investors to feel safe stepping out on a limb.
As a business owner, I am hesitant to
hire new workers because of the threat of
higher taxes and increase in health care costs
with this new health care plan.
Paying workers comp, state taxes, federal taxes
and health care already, this threat of new
taxes is frightening. I fear unemployment will
continue to rise until businesses are
given relief. This administration needs to
stop spending money! Small businesses are
not an ATM machine!
I'll tell you one thing that's slowing rehiring. A number of companies and institutions have cut staff and asked remaining workers to work twice as hard. Those workers have no place else to go, so they beat their brains out doing the work of two or three people, and the company is perfectly satisfied. The country is divided between the employed who are desperately overworked and the unemployed who are desperate for work.
Outsourcing and greed. Just look at the trade deficits for proof.
There is a very long list of underlying issues that have led to our current economic state. All these issues have one thing in common supporting corporate greed. Blame lies with those who have exercised corporate greed, aided greed or turned a blind eye and allowed it to happen.
I don't really know who to blame but I do know they need to get something done.
My concern is I have a business background. I have provided Administrative, Executive and Office Management support for over 12 years. I am in school right now pursuing my degree in Business Management. Everyone does not have the ability to be in Healthcare, Bio-science, or want to be a Teacher, Policeman etc. So I have decided to try and open my own business. In the meantime, where are the Administrative job? I have to work, it takes money to make money.
I have interviewed for several positions and in the end the company has decided to bring back someone who has worked there before or stretch the office workers they have.
When will this come to an end I have been out of work for 1 yr 6 months and it is hard to stay above water.
Thanks,
Michelle
No one is talking about the most obvious cause – the continued abandonment of the American worker by the large corporations in favor of cheap labor in other countries. Couple this with the fact that corporations still need the American worker as consumer to buy the products now made in other countries. The corporations thought they could keep the money train running by endebting workers on credit in place of lost wages. Now the credit has come due and we are all paying the price.
This is my honest opinion about what is going on in the United States of America, the good old USA has forgotten to take care of their own people, I am not expressing racisim, but there are thousands of people from around the world that live here and have came to this country and have applied for jobs and this country have sold the USA to another tongue that do not speak very good english or none at all, now we who are americans are paying the price that my forefather fougt for me to have freedom, America has open its borders and now we are all in trouble because of it,,,,can you go to any other country in this world and apply for their jobs. I believe if non-americans would go back to their country maybe we amercians that are born here will have a job.
The economy is in shambles in no small part due to the ruinous trade policy and subsequent de-industrialization ushered in under Presidents Clinton and Bush. It will only get worse as American white-collar jobs continue, along with what is left of the blue collar jobs, to be hemorrhaged to Asia. This is all documented on CNN’s “Lou Dobbs Tonight.”
Tony
Love the show. It's interesting to hear you guys discuss this topic, but not one person has brought up the fact that we our in the 4 QTR of the year and many if not all businesses (small or large) will not be hiring. Either to save money or just to make the books look good for the stock holders or board members.
To be honest I would have to think that the economy is much worse than we knew and predicted. Hopefully 2010 will show better signs of movement as far as job availability. Until then millions of out of work individuals will have to just pray and hope.
This economic problem was a long time in the making – way before the Bush Administration. It is the result of reckless spending and lending of all Americans and the government. It will cure, once the government and the people stop spending money they do not have. Then, it will take a long time to cure. It would help, if the very rich were less greedy, as well, but don't look for that in a long, long time.
Capitalism, plain and simple. Wall Street runs our government and receives $700 billion with absolutely no government oversight. How can these companies making billions of dollars in profit continue to hemorrhage jobs? Because it's about the bottom line. It's good for companies to lay off people, it makes their profit margins bigger so their ceo's can continue to make millions of dollars on hundreds of thousands of hard working people with no jobs. There is no mention of capitalism in the US Constitution and we should revisit that notion! Capitalism is evil and only benefit's those in the top 1% who have more wealth than all of the 99% of others combined. Unfortunately we as Americans feel that one day we will have the opportunity to join that 1%....you have a better chance of winning the lottery and getting struck by lightning at the same time.
Taxing and punishing businesses. Stimulus should go to small and moderate businesses to create an incentive to hire. Get rid of the idea that the rich need to be punished. They control the jobs!
Joan
Good morning Tony, I beleave that the biggest cause for our employment situation is NAFTA. It's the only thing that I didn't really like about the Clinton administration. It allowed big bussiness to cut jobs and ship them over seaes, they were looking to brake unions. Now they look to the same people they screwed to bail them out.
I am currently layed off in manufacturing and I think the biggest cause of disapearing manufacturing jobs are due to the trade policies of past administrations and lawmakers having their hands in the pockets of big bussiness.It all boils down to GREED!Teresa
Tony...I'm in the engineering field relating to structural steel. I've been layed off since April-09. This is how a lot of sales-reps that deal with developers/general contractors explained it to me. The BANK EXAMINERS are the cause of unemployment rates. They are requiring 33% down of the total project cost before they will lend a dime, compared to the average 6% when economy was good. These companies do not have that kind of cash laying around to start a project. Developers say there are a lot of business's wanting to expand and grow, but the BANK EXAMINERS are shooting them down.
The commercial/industrial loans didn't cause this mess if I remember right. It was the residential/mortgage loans that got us here. Think about it, if a company wants to expand, that means they need to HIRE !
NAFTA and CAFTA.We are losing jobs because we no longer manufacture the goods we consume. China is becoming rich because they don't import anything. Everything they consume, they produce. How can you expect the economy to recover when the conumers don't have jobs. Its like a bucket with a hole in it. Eventually someone will realize that in is not possible to rebuild this economy back to its former greatness without manufacturing. We have gobs of cash going out but little comming in. The richer americans are spending their money over seas and/or hoarding it because of reduce confidence. The President should reinstate the higher import tariffs or 40 years ago and we need to build products that the world wants to buy. The value of th dollar is poised to plummet, we need to act now.
We, the people, are to blame. Many, if not most, of us sit back, ignore or simply complain about what is going on (yes, I have been guilty of this too on some issues), and take no action in a productive manner to make it know that we will not continue to put up with corporate/executive greed, government scandal, job off-shoring, worker-importing, taxes upon taxes upon taxes, healthcare dictated by insurance companies, or even something as simple as current employees doing twice as much work with less staff and/or compensation without voicing concern out of fear losing their job too.
As a small example, even in the small community of 8,000 that I live in, there was a recent proposal taken to a vote that only yielded approx 150 votes. People just don't seem to want to get involved and simply continue to take what is forced upon them by those that organize and push their own agenda in the loudest manner. It is very, very sad.
I am a retired elementary teacher from California. To me the blame greatly lies in the outsourcing of American jobs. We have become a consumer nation, not a producing nation. Too many of our procucts come from foreign countries, ie. cars/car parts made in Mexico and Canada, not to mention technology and clothing from Asian countries.
What's wrong with taking care of our own? Bring the jobs back to America. If big business is worried about profits, then give jobs to Americans so they can afford to purchase their products. GREED is the vice of big business.
How much do benefits, such as health insurance cost companies. Does this affect companies profit margin and ability to hire new workers?
Insurance premiums increase and people get less for their money. Well, what else is new. Everything in general increases and we receive less for them. Sadly, this is a way of life which will get worst and worst as nothing decreases. This is the reason why people are searching for reasonable general costs. Is this not what President Obama wants for the American people and there are some who are opposed to Health Care Reform?
Taxes will go up. Government may state that it will decrease taxes for certain people but something will suffer for it. It may be a wise idea to freeze increases of everything possible in general. Otherwise, we cannot win.
In simple terms, unemployment increases and purchasing power decreases. Enterprises have to maintain their businesses. How can they do so if people are unemployed and unemployment increases? In any case these business owners are the ones who also contribute to unemployment. Therefore, what they sow they will reap in time and what goes around comes around – in time. They reap the benefit of their own actions, one way or the other.
Years gone by everything was less expensive and we received more for our money. Today this is not so. There is too much greed and less concern for clients and customers, etc.
It is not being negative to state that "It is an ill wind that blows nobody any good." We just have to put up with it and live accordingly.
Do not blame the government, President Obama for this.
Greed ,corruption,no oversite of money spent,illegals!!,,I can't believe CNN is doing a special on Latinos,,they are one of this countries BIGGEST problems!!!,do the math!!
CEO's! Let's get real, unless people are paid a living wage, they cannot buy the products and services so employers have to lay off workers and cut production. Yet the CEOs have given up NOTHING. They THINK China is the answer...wrong! NO one can afford to buy even cheap products unless a living wage.
CEOs and stockholders have GOT to give up something in this economy too! I'm tired of the boo-hooing of the companies. They're cutting their own throats.
Simple....its allowing thousands of bedrock jobs, ie Manufacturing Jobs leave, then causing a financial fiasco and lack of confidence in the market as we have seen with the real estate, banking and investment houses in America.
I am curious to know to what degree other G8 countries are suffering from Unemployment and how much it is because they are our trading partners
We need to bring the manufacturing back to this country and close all the tax loopholes for companies producing products overseas and shipping it back to the U.S. The U.S. corporations need to invest in our country and start hiring U.S. citizens to fill the jobs.
An economy can't technically worsen when there wasn't one. Easy credit, low interest rates, reckless consumerism, and service-sector jobs does not an economy make.
And the solution is to borrow and spend more? If I told that to my debt-ridden friend I'd be ridiculed. What's good for the goose is good for the government.
A lack of priorities...5 people on average are impacted by every unemployed person. Washington doesn't get it...fix the job situation first, then go after war, health, banks etc
Unemployement is the cause of decades of failed administration and the vanishing middle class due to too much capitalism(Greediness). Now being blame to Pres. Obama(Scapegoat), a guy that is in the office only for eight months(8).
I am in IT and the last two jobs I had were out sourced to other countries.
Some employers are refusing to interview applicants because the person applying has been unemployed for a year or more.
No Name please
To blame is the collapse of Wall Street and the banking system in general as a function of extreme greed and regulatory failures.
There is little faith that this situation can be cured with "our" money.
Tony,
I think we are all to blame. We kept demanding the best quality for the cheapest prices which in turn forced manufacturers to ship production overseas. As more manufacturing moved offshore, more people were laid off which in turn made less money available for purchasing products. The cause of such high unemployment is this vicious cycle which is fueled by greed.
TONY... What is really to blame for the employment problem is the continuous environmental regulation, taxation, etc on companies that are now pulling jobs out of America and taking their companies to other countries. I've seen it happen in almost every sector, including the medical field. My job went away years ago. When the jobs aren't HERE the people who did have jobs and now looking for new ones have less and less chance to find a new one. Of course, this problem isn't addressed because those in government are AFRAID to talk about it. It needs to stop if we are to have ANY hope of employing America again.
Continue to ship labor jobs over seas. this enable manufactors to produced produces cheaply. Then, send the finished produce back to be sold to the customers in JC Penny, walmart,ect. Look at the lables, they show China. VIietnam, India, everywhere but here. Meanwhile, the produceds is shoddy, and the prices are higher
Obama's bailout full of Pork Barrel spending is obviously not working no matter how CNN tries to spin it. STOP spending money, let the maket correct itself. Bad business's need to fail.
Outsourcing, Greed, Failed home foreclosure prevention programs, that are causing insecurity amongst Americans. I don't even have a degree, but I can figure this one out.
The reason, plain and simple, GREED. It's consequences have ruined cultures from ages past and those failed cultures lessons' have not been heeded by modern day government's. As long as our economy is in the hands of irresponsible financial entities, most of us will suffer as a result for a longer period of time.
YOU are what is causing this to continue. YOU convince Americans the sky is falling and therefore small businessmen do not hire. You convince the people of the country that the sky is falling, so they hoard their money instead of spending it. The media is the problem because what would happen if they didn't have a failing economy to report on. What horror . . . end the wars and get the country back on its feet and CNN and all the other 24 hour news outlets might lose all those watchers.
And where was all this concern about deficit spending when Bush was getting us into this mess?
I believe that it starts with the expectation of Wall Street analyst. These expectations put pressure on corporations to create unreasonable profits. In order to achieve the expected levels of profits, corporations have major programs around out-sourcing jobs to countries with lower employment costs. I work for a major IT company and know off-shoring of US jobs is occurring every month.
What's to blame?....Our Government and the "American State of Mind".... As a country we are a greedy people ALWAYS TRYING TO BE THE "BEST" BUT DISREGARDING THE BROTHERS AND SISTERS OF OUR COUNTRY.
Our first problem was the CREATING MONEY out of thin air for the nationwide bailout instead of creating a 2009 NEW DEAL, disregarding the fact that with time comes change so our CONGRESS AND SENATE can stay in an 80's mindset and not persicuting congress officials who accept BRIBES from Medicine Companies, Insurance Groups, Bank Groups to help fund their tyranical hold on the American people.
Most of all the American people are to blame. I honestly do not understand where we went morally wrong. Profiting off the dead, sick ans less fortunate of our country, creating news headlines about Letterman being blackmailed....who gives a crap when there are people dying in our own back yards, when our neighbors are losing jobs due to RANDOM DOWNSIZING, when OUR OWN TROOPS come home and have to collect food stamps because they cant be paid for their service.
In times of war science and engineering should be at the forfront of our economy, instead we had a president who told us to "keep shopping, go to the movies, relax" instead of creating jobs to support our troops. And now we are running around with our heads cut off looking for someone to blame instead of fixing the problem
theft tony plan and simple. we call it risk taking , sec oversight etc: but the simplr fact is we allowed the bankers wall street etc: to steal amercia's future and without punishment. what did the gov do ,we gave them more for bonuses, parties and their pockets. example-we gave the banks money to lend and they just kept it. who can get a loan answer no one. its a shameful time in america
Managerial incompetence and fear of that confrontation to accountability, is the number one reason why. Thousands of companies were marginally surviving, and not thriving, due to the lack of accountability, and overdue changeover in management, then, the recession hit, wiping out most of them. As a result, thousands lost their jobs due to the instability factor, rappant in most companies, well before the economic downturn.
Lawrence Monaco,
Human Resources Manager
Unemployed
Tony,
It's all about lack of exports.
We have the greatest manufacturering capability in the world but the government is not supporting it.
Nothing else counts.
All the stimulus moneys will help little.
You can't borrow your way out of debt.
Fred
No single cause but many contributers
1. Long term erosion of wages – lowing our purchasing that drives job growth.
2. Long term migration of jobs out of the US, once again affecting purchasing power.
3. Too much personal debt accumulated
Essentially the effects of personal and corporate greed and selfishness - a failure of capitalism gone wild - there's never enough profit or never enough salaries {executives getting multi-million, example former treasure secretary getting $500 million bonus}
There is enough blame to go around. I don't think it is any one specific reason. What has contributed to it, however is distrust for our government and for Corporate America. Any successful leader will tell you that trust is paramount to people following and believing in them. America has lost its trust in its leaders and in its government.
This is what I believe: Employers do not hire because they figured out that they can get the same productivity from fewer employees and by doing so, save money. Employees are absorbing the laid-off person's job in many places...
Bush Sr. gave Communist China Favorite nation trade status. Our jobs started moving to Communist China the day after that bill was signed.
Now we bring in millions & millions of un-needed H1B visa holders that work for less money, pay less in taxes, have no health care benefits and take American jobs!
The H1B visa program is Corporate Americans way of getting around American worker requirements and American work laws on American soil!
End the H1B visa program and you can save millions & millions of American jobs for Americans.
Outsourcing of course. We used to be a manufacturing country, what happened. Some how greed set in. It makes me sick every time I call on most any product for help, or what ever. I have to talk to people I can't even understand. God forbid if you have to change your ticket when going on vacation. You have to try your best to understand to make sure your not taking the first plane to China. Well you get the picture!
Look to the signing of NAFTA for our unemployment woes of today.
Both Republicans and Democrats were for it and Ross Perot warned everyone of the sound of the jobs being sucked out of the US if NAFTA was signed and he was right.
Tony,
The problem with the economy is the bank's reluctance to issue credit after the tax payers bailed them out. My husband and I are empty nesters, earning over 100K per year. We rented out our house (the one we bought in the boom), moved into a much less expensive apartment and still have trouble borrowing money. We pay our bills, have no delinquencies and have a healthy income and two businesses. If the banks are too afraid to lend us money, we cannot buy the products that will help to stimulate the economy and circulate the money. We are forced to look for used bargains on Craigslist.
Bring back manufacturing and other jobs from overseas
I have been laid off for almost 18 months now and I have simply given up. Never in a million years did I ever think that I would be in this position – it's devastating. The one thing that comes to my mind is outsourcing. How many times do you call a toll free number only to get someone at the other end of the world? I am willing to work at these call centers myself in order to put put on the table for my family – but when I submitted an application, they said that I was "too qualified" and were nervous that i would leave if something better came long. I have a business degree and 15 years work experience as an Office Manager. There are many other reasons and I am not sure who to blame but something needs to be done right away. We are suffering out here Tony. – Thank you for bringing this problem to light.
Sincerely,
Vicky.
I believe all the above.
What keeps adding to it is the Government not making sure all the stimulus is being used the way they said.If it was,why are people still losing their homes,jobs and health care.
The government needs to realize this is an across the board problem.It's not just because of the Democrats or Republicans,they have made this mess as a whole.
The politicians have only been able to work together on screwing things up because too many of them have their hand in the jar.No pilitical office holder should be legally allowed to own any kind of stock in any company that has an effect on the economy.
Dear Tony Love ur show
I'm a 55 year old female w/30years experience, I'm a NUCLEAR MEDICINE TECHNOLOGIST, what has happened in my field is the colleges are pumpimg out strudents and are flooding the market, by telling them there are jobs. There are a limited amount of jobs and they too have gone PRN/ OR PART-TIME. By flooding the market they have displaced many of us right out of a job.
Thanks Lynn Brickman
Tony,
I still think that the GOP or RNC still have their hands in this. They don't want us to get better. Then they can come in their white horse and say we can fix it. I do think they had lot what is going on in USA. They put us here.
They took away all the checks and balance so this would happen. They let the big banks and big bussiness and big lobbies. They don't want healthcare because they feel that would not get any free money. The GOP or RNC belive in the invisited hand and big bussiness know everything. They ship jobs oversea's and because they don't want to pay fare wadges and fare paycheck and they don't want pay healthcare for their workers.
The GOP and RNC still have power in the senate and house and we are still unable to fight back because of lobbies whom are paying off senate and house for sake of big bussiness and healthcare.
The GOP and RNC dosen't care for the amercian people at all. They only care about their paychecks and they tell lies all the time.
Why don't ever travel to northern nh and VT where we have no, more jobs and we are losing our homes just like the west and south and ohio and IN are, it seems like no, one listens or cares about us at all.
I do think it is still GOP and RNC are to blame for all this
Working in the renewable energy industry that it has been excruciating trying to convince local/municipal authorities to embrace the investment the admin has already put in place for improvements to energy consumption by local/municipal buildings. Authorities are more interested in knowing which roads are going to get paved when the Admin has little interest in paving roads for the umpteeneth time or underwriting sprawl by building new roads.
I wonder if the WPA of the New Deal dealt with people deciding what kind of work they wanted or were justy glad to be back at work?
Toni:
To look for a guilty company or to be a more realist and say what is the problematic for me is very clear that our actual electronic world is guilty.
Do you want to go back to the old system and to give more work to our families or friend? Then stop the computer, twitter and go on names of electronic machines. Please try to be more real and stop speaking and speaking about something that is for your eyes and really is pain full. My wife tries since three years to have a job and nothing. We are living with $1400 dollars monthly. I was an Engineer Electronic and I know what brutal this profession is guilty in our jobless population.
I've been without a job for over a year.. that's no income for over a year and I'm 24.. How am I suppose to have any form of a life with no money? Where is my bailout?! Corrupt Politicians and Business men need to be dealt with.
I believe the unemployment situation is largely due to irresponsible trade policies of the prior administrations. NAFTA has eliminated competitive wage south of our border, forcing people to seek jobs here. I believe morally these people have a right to work here now, but it's taken a HUGE toll on our domestic job market.
I also believe the burst of the housing bubble – and AIGs subsequent downfall is much more far-reaching that we think. Employers were hit hard, and its going to take a long, long time to recover.
Tony: The jobs are not coming back because production jobs have been exported for years resulting in a consumer based economy. Production jobs are at the top of the food chain fueling the economy and creating other production and service jobs. Our economy has become similar to Middle East oil countries but without the oil. They have the oil to feed their consumer based nation but we don't. Unless we understand that globalism and open trade is a two way street and mean export AND IMPORT, our economy will never flourish again. With technology, auto, and manufacturing all gone and pharmaceutical having one foot out the door, we will be left with Hollywood and defense and it is doubtful that the world's superpower will be able to survive with these two industries only.
Hi Tony,
I am an executive recruiter in PA, helping regional business and manufacturing find the right talent. Job seekers tell me daily that they are searching since their employer has moved manufacturing or operations to China or India.
I think that the practice of companies like Microsoft lobbying to increase visa quotas and US Universities opening the doors to Asia Middle Eastern students to keep enrollment and revenue up is a major contributor to job loss. We train the people here and give them jobs. Then, when the time is right companies move manufacturing and operations to China or India along with the workers we trained in the US. There is far too much foreign interest in our government and economy.
Companies need to invest in US workers and new technologies and less on helping educate and employing the workers from every country of the world.
To clarify my comment – Most of the good jobs lost by millions of Americans require at least two year of full-time retraining (college, etc.) to qualify for the good jobs available now. That is why unemployment is high and going higher.
Sometimes the simplest answers to a problem are right in front of us and we are unable to see them. If you want businesses to stop laying off people and to start hiring again, you need to allow businesses to be profitable and to grow.. Small businesses, in particular, are way overburdened with taxes and, in some cases, costly regulations and/or government administrative requirements. Don't believe me?? Do a survey of small businesses and ask them. Make it possible for businesses to grow and flourish and the unemployment problem will disappear. Pouring government funds into government projects to improve the economy is not the answer, because it's not sustainable and simply swells the size of government which means more tax burdens on the people..
Ronald Reagan === Trickle Down Economics caused a concentration of wealth
Ronald Reagan ==== Ignored "Nation at Risk Study" and launch a Global International Movement he did not understand and the US was not prepared to compete in.
Ronald Reagan ==== Thought that military power rather than industrial power and science was the key to US influence
Ronald Reagan==== Letting the Lobbyist get out of control. There is objective source of truth anywhere. At one time, government agencies were not political and bought. Today the drug companies own the FDA.
Ronald Reagan == Broke the unions, killed industry, concentrated wealth, and thought consumption was the key to GDP.
We have not had a positive balance of trade since the 1960s. We can not continue to buy indefinitely. Other countries will lend us money for only so long, and we are not making anything they want.
Thank you Ronald Reagan and your followers for destroying the US economy.
Really it's a multi-pronged issue. Companies have been given the green light, with perceived understanding, to reduce the workforce as low as possible to raise the balance sheet. Likewise those working are accepting some ridiculous demands, just to keep their jobs .. held firmly over their heads. Other problems seem to be the biggest growing Industry are BB's collecting thousands of positions and using a computer program to select "qualified" applicants. The personal touch, outside of hiring family and friends, is gone. Human Resources, created in the 80's, does't deal with Human's anymore, outside of problems and benefits. Hiring is trusted to a Monster Program with a big chance of failure in it's belly unless you pay the fees to have them really help you.
OUTSOURCING (especially medical records), I personally lost my job in April due to a very large company that outsources Medical Transcription to INDIA. This is a huge problem within the medical field that has been overlooked for a very long time and is only getting worse given the economy and cheaper rates offered by India. Furthermore, patients have no idea that their records are being sent overseas (including personal information) – Talk about identify theft! Angry and broke in California, Cyd
Born in the USA. The Deficit is high because of unregistered workers and unwed people who can have 12 children out of wedlock that don't pay their hospital bills for each birth. What's it cost? 8000.00 each? A majority of people want bi-lingual. Hey, this is the United States where ENGLISH is the 1st. They(all foreigners) need to learn english. The contractors hire the illegal people to save $$. The INS needs to step up and include some Military help. Soldiers are IT! Especially if they are allowed to carry their weapons as they SHOULD.
It is the people itself to be blame, the ignorance and the trust of the poeple that is being manipulated by corrupt politicians. i suggest, lobbying with money should be outlawed, IMO, it is graft and corruption. America is the only country that corruptions is legal. Lobbying with money and other part of the world is considered graft and corruptions.
Graft and corruptions played important rules, why we have all the problems today. People are bankrupt, drain financially, due to too much tax and unregulated financial market. OUTLAW LOBBYING WITH MONEY. Too much Capitalism = Greediness and bankrupt economy.
Mass production, demands mass consumption, but people can’t afford to consume if the wealth an economy generates is concentrating at the top.
In the years leading up to the Great Depression, that concentrating was accelerating. A “giant suction pump,had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth.”
“In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands,the other people could stay in the game only by borrowing. When their credit ran out, the game stopped.”
I believe the unemployment problem started more than 5 years ago when businesses were given tax credits to outsource jobs to other countries. Many Americans lost their jobs to those other countries. That trend has continued to get worse over the years, and now with the economic meltdown we are now seeing, more large companies are decreasing their workforce.
If we ever hope to recover from this crisis, we need to bring jobs back to America. The stimulus plan does not seem to be working as the unemployment rate is rising. Companies who received the "bail-out" funds were not regulated as to how the money was spent. They just paid huge bonuses and had big parties on our dollar. Then, they still laid off many employees. Congress was not wise in handing out all that money without some type of restrictions or supervision. They seem to be more concerned about receiving money from lobbyist instead of doing what's best for America.
I am fed up and disgusted with Congress and the current administration.
Just look at Simmons Mattress Company!!!!! WAKE UP
Preditory investment practices like the ones that are today bringing down Simmons Mattress Company.
Many viable companies have been gutted by these practices. That is not good business it is systematic destruction of the US economy.
(Who was the last glass making company in the United States? If I remember correctly a viable company somewhere in Okalahoma. Shut down by a company that bought them out because in short term shutting them down would result in a larger windfall profit.)
For 30 years or more no one has done anything to oversea these activities.
The Republicans have lasse faire concept of oversite and the Democrats have focused in the wrong areas.
What's to blame is news media, government, and employers that lead us to believe things are not as bad as what job seekers see when no one is hiring. One day its reported things are turning around then next week its reported things are still bad. Companies aren't hiring this year bottom linemaybe in 2010 when they feel their co is ok and can get bonuses without scrutiny. I have giving up, I have a college degree and a diverse resume but unemployed for 2yrs.
tony we need to export and stop letting big companies import goods that we use on daily basis also put a stop to the power companies monopoly on raieseing prices on electric power not all americans can afford to use alternate power and own homes to put alternate power in homes we need walmart to stop closeing our companies by importting goods and thay have to buy with in the us .
George Bush and the Republicans! What kind of question is this? Is this a question? President Clinton and the Democrats balance the budget. This is a no brainer. I also believe outsourcing/GREED had a lot to do with it and the mortgage scams didn't help either. We need to start making and doing things again. Stop outsourcing and put Americans back to work and pay them accordingly, so we can buy things and use services. George Bush was defending Capitalism to the end , driving the country deeper and deeper in the ground. I hope he is enjoying himself that's why we never hear from him, ever!
The biggest loss has come from companies going over seas with our manufacturing. I come from the printing industry. Mills have closed and printing companies cannot compete with cheap labor. These companies were union with retirement and health benefits. When Workmen's comp went to 38% in California they were forced out of business. We've become consumers with nothing to sell!
We as a country need to get back to basics. The president has not dealt with our middle class crises, take back and halt all stimulus money and tax incentives from any company that is out sourcing jobs to other countries, add import fees to all countries that do not export as much as they import. We need to rebuild our middle class, we need jobs! Action must be taken and deal with our middle class crises as diligently and with as much significance as the financial crises!
The Answer to debt and this recession:
This one is much different than any we have ever seen. The main ingredient being that in order for companies to show a profit, they have had to move many of their manufacturing bases out of America. Unfortunately this makes them look stronger on the stock exchange but it also means the jobs aren't available when this "recession " ends. This is a huge problem for the unemployment factor. It will not go dow very much, since there isn't a physical structure for the laid off employees to go back to! This has trouble written all over it. While some indicators seem to show the recession ending, this nation has never been in this senerio before. This has trouble written all over it but no one seems to be addressing these facts.
What will happen in the future? I believe it is bad-really bad. I could give many examples but don't wish to ramble.
Ron Case
America must get it's farming and manufacturing jobs back. The American farmer has been the back bone of America.
We have lost our manufacturing jobs for cheaper labor outside of the USA. Now we are seeing the results. Cheaper made products even lead products from China ending up in baby products.
This is Americas biggest threat to our nations security and economy.
Tony:
I have read each of the comments that have been posted on this question and think that each person has a viable point. Whether it be greed, corruption, scandals, outsourcing, NAFTA, illegal aliens etc. etc. In my opinion I agree that a major problem is the outsourcing of American jobs. In the end it all seems to come down to money in peoples pockets, and if they can get more by sending jobs overseas and putting people out of work then the higher powers will do so. America needs a complete overhaul and needs some sort of solution that keeps jobs in American peoples hands.
Also, I think that the increasing unemployment rate could also be solved or improved by America not having its hands involved in so many situations outside of our borders. I realize that we have a vested interest to be involved with certain situations but think that efficiency was thrown out the window a long time ago and we need to be more thorough and critical about the situations we choose to become involved in.
Selfishness ,greed,curoption is the main reasons that we are having such a problem with job losses here in the United States. Companies only think aboout how they can profit not how they can help their employees.Hiring Temps,and Hiring ilegal immagrants for lower wages has been going on for years. If this does't work, they go overseas where they they really don't have to pay anything at all for labor. I think that we should give the President time to get things going in the right direction and remember that this was ocurring way before he became President. If he had not done what he had done , unemployment would have been a lot worse. Congress Sucks because they only thinking of themselves! Maybe they need to be in the un employment line!!! They make every thing seeming to be so hard and complecated. How are we going to pay for everything is there favorite saying!!!! Eliminate their jobs that will free up lots of money!!!
Supply and demand, and overpopulation are to blame! Even our economy doesn't need the number of jobs that our population demands. Generally, the lower economic classes are the people who have the highest fertility rates.
There are only so many well-paying jobs in science and technology for educated people. More and more, manufacturing jobs are mechanized and fewer laborers are needed. With the huge supply of labor worldwide, management can get extremely cheap labor – especially in third world and developing countries.
Unemployment sustained has only one source....GREED
Speaking from Experience, some GREEDY MANAGERS will not rehire
workers after leave of absence if they are making top salary and ask for an extension of leave to care for an elderly family member.
Its an "out" for major corporations who have funds they can use for minimal operation. They will keep the "business" going without repairs or updates or experienced people or ideas for
improvements. Then take their BONUS and leave when the business has deteriorated beyond repair.
What we need is RESPONSIBILITY to the business and its work force and physical plant on all levels, government, private and publics business and
small shop. Workers taking pride in the work they do, owners replacing equipment as needed for safe productive work place and a customer satisfied in the product received.
FORGET BONUS.....reapply the money to build a business and keep workers safe and able to make a good product or give a good service.
Managers are not what makes business good
Workers are not the important piece
Consumers for the sake of consuming is not the answer
Idea People do not make growth
ALL these people, with GOOD SOLID investment and a PRESS who
TELLS THE TRUTH about the economy all working toward a common goal make an Economy DEBT FREE.
I always found it interesting in the "religious rights" idea that they are saved.....the bible in all religions says in so many ways ALL must be
remembered and taken along to CALM PROSPERITY.
Wonder if anyone will spread that word
BECAUSE there is no self profit it that approach
Betty Ann Lee
Hey Tony / CNN Newsroom,
It blows my mind that people refuse to see this for what it is. Plain and simple its greed!!! The major corporations have slowly evaporated the wealth out of most of the lives of America. And our leaders supported that effort, even as much as I believe in President Obama, I know that corporate interest rule. They have a choke hold on most of us. Everything goes up, medical costs, insurance costs, living expenses, tuitions, etc..except the most critical piece to this whole economic balance. Income. We can't spend, because we don't have. If the greed were not so prevalent at the top, some of the wealth would trickle down. If you want to see this economy move, put money in the hands of people who need it now. We need it now, we don't have time for them to figure things out. Our phones, our lights, our mortgages are at risk every month, while the Bank of America CEO get a $54 million dollar patday, I'm paying $39 for an overdraft. For me that's gas for the week.
Our government, I guess I might as well say those corporations as it is clear that they are controlling the national interest, need to be better citizens, the wealth of a few have ruled and now we are seeing that net result. We are too top heavy and we are going to continue to topple until our fellow 1-5% 'ers have a psychic shift towards some sense of fairness. Give us a chance and we will turn this country's economy on a dime. We are ready to live, we are ready to work, we are ready to help, we are ready to dream, we are ready to build. We are ready to invest. We are ready to work overtime, We are ready to compete against the world. We are going to spend because we NEED to, to meet the basics of life. We are ready to fix our cars, pay our debts, improve our homes, travel and try to enjoy ourselves through the new American nightmare.
As it stands now that the American dream has deteriorated to be just that a dream. I have 4 degrees and I am a veteran of the US Navy and I am living like a high school drop out in terms of what I am able to make on a job. The top 1 – 5% needs to drill some holes in that airtight system they have created to make sure that they never lose, well someone has to lose and we have. We have lost big and continue to lose big. Our dreams of financial stability are fading fast and they simply do not care. Look at the political landscape, up to 70% of American wants affordable health care, yet we do not have it. Is democracy dead. Apparently our votes don't count.
America listen to all of these voice crying out of the wilderness. Now I understand what leads up to a French Revolution or a Bolshevik Revolt. People are getting tired. Remember that movie network in the 70's. We are mad as hell and we are not going to take it anymore.
Stay tuned, the water is boiling.
AP
Consumer spending or should I say not spending is the biggest hit for employment. If consumers can not spend money because they can only afford to survive the unemployment will remain high. Companies big or small have no reason to hire employees if their sales are low. Most people quit spending for extras when the gas prices went out of control over a year ago and many of these people have yet to recover. All types of jobs have been lost in the past year which makes it clear our economy is consumer based.
President Obama has given so much money to the large banks without presenting strong new financial regulatory rules that would bring the type of confidence the major player in our ecomony need to rebuild. There is no trust when many of us see the obvious....the money is not being redistributed and greed in this country is dangerous to America's future standing in the world and to our basic health. I believe in being rich, but I to what end? Health Care (Health Insurance) Reform should be easy, a slam dunk. But, nothing is possible in America when money rules over good governance. The government is suppose to be the neutrol party that referees pretect the citizens of the United States from harm (food, water, health, environmental, nature, energy, and corporate distructions), break down barries to the "American Dream", and allow capitalism to thrive for the greater good of Americans. What good is capitalism if the rest of us don't benifit...it a little like slavery. Work hard for peanuts with no health care benefits other than your lucky if your not sick or hurt.
Anyway, new financial regulartory reforms and greater oversight of banks and investment firms.
Good afternoon Tony, It is a combination of many things, however, the "GREAT" stimulus plan/package has not helped as Washington hoped. Atleast not on the eastern shore of Maryland. But, then again what do I know. I only come from a family where 5 out of 6 siblings in different lines of work are now statistics of the unemployment world. Thanksgiving has a different meaning this year.
P.S. We really enjoy your show!!!!!!!
People still have the assumption that some people are over qualified. Just the other day a guy I work with told me how his girlfriend is a hiring manager. She wasn't even going to call this guy who was very very qualified just because he had a masters, and she figured he wouldn't want a lesser job. These places need to understand that people will take anything
Keep in mind that Companies are more productive because of technologies not available before; so less people are needed. This is especially true in tech companies.
Free trade agreements along with out sourcing for the past 30 years has crushed this nation. All past administrations are to blame. Greed has ruined America.
The Federal Reserve controls the money supply, and have been pulling the strings of our financial system since 1913. This is the 800 lb. primate in the room. Wake up people!!
the problem is the gutting of the manufacturing base by businesses seeking unsustainable profits. Retail sales cannot sustain an economy alone. We can't all sell hamburgers to each other
I think loss of confidence by the American public, some of which was driven by the media, helped deepen the downturn in the economy. If Americans stop spending, of course unemployment will rise. It's not rocket science!
In addition, we often hear about the aging population, but noone seems to want to mention the fact that this group will probably spend less. My husband retired this year. I was laid off last year and have taken early retirement because job prospects are poor. We downsized our home a year or so ago, and are now coming to terms with our reduced income and managing expenses.
If this is happening to seniors all over the country, who I believe were the big spenders in other decades, what are the long term prospects for the country?
There needs to be a total rethink of our manufacturing base, overseas markets, and the type of goods and services that will be required in the future.
Employers are in need of workers now, but, until the Health Care debate is resolved, they can't know for sure how much money hiring a worker will cost them. Businesses are holding off hiring employees and contractors until they can confidently calculate the costs.
We are all interconnected now in ways no other generation has been. If one part of our economy suffers, eventually all will. It started with Derivatives, then SubPrime loans, then banks going under and tightening credit causing a lack of available credit and then unemployment as many don't spend their hard earned cash. It's going to be a bad Christmas for Retail, the next sector to really hurt.
A no brainer. Our agreements in WTO and NAFTA We needed Fair Trade not Free Trade. Ex President Clintons folly and Nush follow up and now Obama. No more manufacturing here. We need tarrifs on all products coming into the USA equal to what it would cost to manufacture here.
NAFTA and CAFTA. These have caused the manufacturing sector of America to be almost elimated. If a country has no manfacturing base, there are no jobs for it's people. The country plumets into what we see in third world nations. It is far more serious than anyone can immagine. It doesn't recover. It looks like it on the stock market because the base of the company stays in America but it's manufacturing arm moves out of country. Unemployment will remain high and actually rise unless you use a false indicator, which we are doing now. We are in really bad shape and unless permanate jobs are put back in America we will become a third world nation.
Definately the cause is all the outsourcing of jobs, and look what happend with the bail out, GM is still shutting down plants because of the mishandling of the money. The cost of living, and house hold ammenities have went up, and so has minimum wage in alot of states, but not the wage of the employees that were making more than minimum wage, but not that much more. I've seen new employees get hired almost at the same wage as a person that has been there for over a year because of that, and of course that doesn't feel good.
N.A.F.T.A. and Gov. greed are driving jobs out of America
There are tens of thousands of foreign worker brought here under L1 and H1B visas. Companies refuse to hire Americans because they don't want to pay middle class wages and benefits.
Clamp down on the L1 visas and off shoring of jobs and the unemployment rate would decrease 2 – 3%.
Very simple: greed, jobs off shored, ponzie schemes, wall street, Iraq War, housing market bubblw, tarp, recovery act...etc.
October 5, 2009
Dear Tony,
I am a Canadian living in Toronto who regularly watches CNN for the latest world and local news. Since the economic downturn in 2008 I have listened to numerous individuals in both the government and business sectors who try to anticipate what will happen next. I can only assume that these people have not read the book by Davidson and Rees-Moog titled THE GREAT RECKONING
Simon & Schuster, 1993) which anticipated the 2008 crash including the demise of Freddie Mac, Fannie May, and General Motors. What is interesting is that many ‘empires’ exhibit the same cycle of boom and bust beginning with the Roman Empire and most recently the USSR and the British Empire. The common element seems to be the overemphasis on military might to the extent that domestic activities are compromised and eventually lead to conflict and poverty. The United States is now in this downward spiral which will not end until the debt is retired and the military expenditures are curtailed. The current global economy will expedite the loss of manufacturing jobs to other countries having lower labor costs, thereby reducing the standard of living in the more affluent countries. This prognosis is not good for the United States (or Canada).
Keep up the good work!
Sincerely,
Ray Woodhams
For several decades, America's tax, regulatory, fiscal and monetary policy has been biased toward large corporations. Entrepreneurs and small businesses have almost always accounted for most of the job growth in this country. Large, global businesses have no real allegiance to this country or it's people. They are going to go where they can get the labor they need at the lowest cost possible. We need political leadership who will support entrepreneurs if we are going to create the type and number of jobs Americans need. Unfortunately, it's the large global corporations who can afford the lobbyists to push the agenda most beneficial to them.
This is the direct result of capitalism gone wild. More and more companies are cutting jobs to help their bottom line. With CEO's making 400 times the average worker, the job cuts add pay to their pockets and increases their profits which allows them to keep their job making millions of dollars. Corporate has become the greatest "hustle" in America. This will not stop until the poor can't buy ANYTHING and public assistance has gone bankrupt.
The blame belongs to the Bush administration, he spent billions in a unnecessary war in Irag. He neglected the U.S., left allot of garbage for President Obama to fix. How can President Obama repair eight years of the worst administration in history in one year? Corporate america is still manipulating the healthcare reform, CEO's of healthcare insurance companies are dumping millions of dollars to advertise against healthcare reform.
Hey Tony,
I have a simple solution to creating jobs right now. The construction industry {people that actually work) have been hit the hardest. New construction will probably be off for years. So why don't we offer tax credits to the people that have money and all the volcures that are buying up the foreclosers and short sales to make home improvements. And how about this, the media helps by making a big deal of it, and while your at it please ask Mr Obama and friends to stop giving money away to all the rich guys. Nobody's buying this "preventing a catastrophy" nonsense, it's just pissing us off. For what it's worth, I'm a republican that voted for Obama.
Bush was not completely at fault for the crashed economy but he did not help. If you go back to the great depression you will find that is when our government spent a lot of money getting our economy back in shape, That is when social security and Medicare was formed. And that is when utilities and many big businesses was regulated. Since then as things got easier, As a result to our short memories we started deregulating and reversing everything they did except socialized Medicare and social security. If you read about government types you will find we have a Republic/democratic/socialized Government. Myself I believe pharmaceutical companies and Hospitals are responsible for the socialized part of America because of there greed and controlling us with there drugs. We either regulate the health industry, Change it back to health care, get a public option or become a socialized health industry country owned by the health industry making America there guinea pigs for all there experiments.
It took about five terms to get us out of the depression, So how many terms will it take to get out of a recession?.
Don D. Brock
If we would cooperate with the President we would be n better shape.. There is so much discord among Americans, so much hate, it's preventing us from pulling together with our leader.. It would be a major difference if we trusted the man we put in office..it is so sad.. The attitudes of many Americans.X
Tony, find out who benefits the most from a bad economy and you have your answer. Who pulls the "greed" strings, controls the dollar. America is at war because we can't trust the world but when has the world trusted the US. Here is a thought: Dems and Repubs being against each other is like an offensive live being against the QB....YOU CAN'T WIN LIKE THAT. We are worried about what nationality is going to be the majority when the dollar will be the worldwide minority. Let's see what happens to greed when you precious dollar will only be good enough to set on fire for heat. We have lost our way.
A large number of employers are still laying off because they have began to see this time as an opportunity to cut back the fat and eliminate positions and persons that shouldn't have been there to begin with. Fear and unbelief in the results of the stimulous plan are also causing the unemployment rate to continue rising.
With business's sending our tech jobs to foreign countries, I can expect our unemployment rate to go even higher. Where is Obama giving tax credits to companies who keep jobs here?
Tony Have the banks start giving out the money they received for bailing them out to smalll business and construction of new homes. You don;t need an 800 + credit rating to be a good risk. Thanks
Small businesses employ 50% of the workforce and contribute something like 38% of our GDP. The so-called stimulus bill provided hardly anything for small business. The primary problem is the lack of credit. Small business have to wait 60 to 90 days to collect their receivables, but still have to meet payrolls every week. They are being forced to close their doors instead of being "stimulated".
Caused by Bush administration where hundreds of thousands of jobs lost due to construction building with no one able to buy & selling to unqualified people. The "Bubble" burst on Bush & will take years to recover. Obama not to blame. (Regulations eliminated)
The only thing that will get us out of the economic slump is Jobs ! Jobs ! Jobs! But the only thing that will fix that is three things. Immigration control and or population control and put a complete stop to outsourcing of jobs. Does the government realize that if the illegal immigrants come here undocumented have to be taken care of by our own welfare system if they cannot support themselves. They also take the jobs of generations that have been here before. Yes, i do believe in equal opportunity and the American dream but guess what , take a number and stand in line. Many immigrants come here to pop as many children as possible only to put them under the welfare umbrella, i call that abuse. I dont understand how we can spend billions on the space program ( trust me, the only thing that is out there is just more space), wars abroad and a stimulus package that completely fizzled and went nowhere. Hey Obama, its only a fence !! Make it higher , dig it deeper and make it strong as hell, put up camera everywhere, hire more borderpatrol and call it good. Theres your immigration control for starters. Next weed out the illegal with the fake social security cards and such and send em back or make them stand in line and get their citizenship. Lastly bring back American jobs, stop outsourcing. Lets get back to " Made in the U.S.A". Lets stop the bleeding now. People getting back to work will be the only way to start the cycle back up again.....
Have everyone forgot about how much money the US has already spent in Iraq? Iraq had "Smoking Gun", 'Weapons of Mass Destruction" all "Massive Lies". I would much rather spend that amount building our economy than demolishing Iraq under false pretense and then rebuilding it
Embed Total Cost of Wars Since 2001
$917,013,424,815 Embed Cost of War in Iraq
$688,583,316,586 Embed Cost of War in Afghanistan
$228,430,108,228 these figures increase by the second
for years the so called "free market" fed has been regulating the employment rate/unemployment rate by manipulating interest rates to keep the unemployment rate higher than 4%, they say it's to keep inflation in check, it also keeps wages artificially low. Maybe the fed should re-think this blatant manipulation of the free market, and stop causing unemployment to remain high in good economic times.?
TRADE POLICY!
US Trade Policy is written by corporate lobbyists for the sole benefit of increased corporate profits. US Trade Policy should reinstate tariffs EQUAL to the wage differential of each category of goods–now THAT would be a fair playing field.
Why the big mystery concerning our unemployment rate? what the media fails to investigate is the constant outsourcing of American jobs overseas and the hiring of H1-B candidates, we can’t compete with the cheap labor pool brought and housed by corporations who prefer not to pay American citizens decent wages, it is about the constant corporate greed..
Contributing to high unemployment: There are far too many foreign nationals coming to work in the U.S.; establishing Canadian residency being employed in the U.S. through NAFTA. NAFTA was not meant to work that way.
As soon as people's budgets start to get tight, they cut out the extra services. Since our economy has turned into more of a service economy, that's where the downturn will be felt more. We need to get more manufacturing jobs back. We don't make anything anymore, just consume. We've got to find the balance, between consuming and building our savings accounts. We've done it to ourselves. And large companies would rather ship the manufacturing jobs overseas, pay peanuts for wages and avoid paying outragious sums for health insurance. The bottom line for stockholders is more important to them than the employees on whose backs companies are built.
Right now the price of products and services are still price to high, for the number of unemployed and others fear of loosing their job. Most are afraid of buying big ticket items right now. In an uncertain market people will continue to buy the essentials first like food, clothes, etc. If it's possible, we need a tax break on small to mid ticket items. People will start buying at the bottom first. That will cause inventories to drop in turn forcing employers to hire more people to increase production. People will start buying large ticket items as they see the economy improving.
Another way to boost an economy is new inventions and ideas. If we could reduce the extraordinary cost of patenting procedures, that would help inventors with little capital to inter the market place. People love to buy new products.
The american business model is broken. The US never changed it's business plan as it enter into the global markets. Company's opted into short term gains instead of long-term substainability. The unemployment rate is tied to company's trying to maintain corporate and Wall Street expectations of profitability and not employerability.
Demographic causes of unemployment. Everyone recognizes that baby-boomers are about to retire in massive numbers. Folks (even economists) do not put enough wait on the following:
1) within 5 years of expected retirement people begin to "down-size", incuding selling their homes. No big deal except there are 75-80 million "boomers" and they only had 40 million kids. No one to buy those homes.
2) at retirement people cut way back on basic spending. Again, no big deal except that group over 65 is going to expand from 13% of the population to 25% of the population. The 12% difference is akin to taking out 1/8 of the national economy.
3) these demographics are not being replaced by any other group, such as immigration. In fact, as the economical goes through the lull there is less incentive for immigration to occur (legal or illegal)
4) fewer revenues for federal, state and local governments (e.g., Fed income taxes down 25% last fiscal year) means government will continue to be trapped at both ends – less income and higher social program costs, and less money for "stimulus" efforts to create jobs
5) our populace has taken the green message to heart – "less is more", meaning not buying anything is the pinnacle of a green attitude.
Add those 5 elements together and you have a consumer economy struggling to breathe, and jobs a rare privilege.
The problem nobody looking at is: private companies STILL moving ther operations out of the US. My husbands company just moved to Mexico! I donot see goverment solution for that, so there is NO SOLUTION, because private owened industries will NOT care about anything , but PROFIT. In the long term, everybody can't work for only healthcare,goverment,or service industries.
As an engineering manager in the heavy equipment manufacturing sector in the 70's and 80's, I was alarmed at initiatives to reduce cost by out soursing the manufacturing of key equipment components. This trend has exploded into outsoursing everything we do, whether admiistering student loans to the creative design of our products. Our growing service sector is a job market competing with $10/hour jobs which can be out sourced to any country who has english speaking workers.
Government policy is the problem. We reward companies with tax breaks for the creation of profit, NOT for doing the right thing for our communities and nation. The fact that all other industrialized nations provide government paid health care is another major issue.
Unless we wake up as a nation and develop jobs which convert raw material into necessary prodcts, the trend will continue.
David VanCott Las Cruces NM
Oct. 5–The employment downturn is much worse than it needs to be. The Banks quit commercial loans, small business lending caused 585,000 or more to fail, drop million or more jobs. The Government has politics and bureacracy so deep, the programs including the stimulus package are failing to make a significant job improvement.
We have programs that can create jobs, thousands and as we showed Geithner-Summers-Obama, using CMO assets for financing as should have been similar to the RTC and European programs–there would be thousands, millions of jobs as DIRECT Business investments would be done into billions, trillion dollars we need. We have the documents on how Business Trusts-Corp laws changed to add a REIT, tax advantaged Green Energy Business Trust, Public Sector Investment Trust, Private Enterprise Investment Trust, Public Health Investment Trust, Mining-technollogy Investment Trust, Power-Technology Investment Trust and Humanitarian NP foundations can replace the downsizing corporations who laid off and lost millions of jobs for past decade, never will recover JOBS, Wall SAtreet is not with IPO's, flips, derivatives ever going to create millions of Jobs.
The Adminstration is so caught up in their Chicago arrogance, end games, strategies–they refuse to really think how to create thousands to millions of jobs. Obama will be one term president as his inner core people are not qualified in business, economic development, JOBS and will not accept outside, professional advice.
Banks failing more and more show that there will be no loans of finance systems for years–so create a new direct Business sector program for millions of jobs and the economy will recover.
That said, we have long, ong roads ahead as is and muddling through is not going to help the recession (depression) in the JOBS sector. Atlas Shrugged–the entrepreneurs and business sector that creates JOBS is forced to retire, shut down, head for the hills.
And more–we have direct evidence of the billions to trillions of capital that there is and was and is not in the economy. Look to Dallas and Houston and there is a real story on the CRASH causes which still linger too and can never bve solved when capital is held from JOBS due to politics, politics and tricks, tricks only a few would ever know.
Hi Tony,
Business is one, over taxed and two, over regulated resulting that businesses have closed or moved to third world nations. We do not make anything in this country anymore, even the Lionel Train is not made in the US any more. That's why we're in a recession.
Now the Government wants to force "Health Care" on business. This is the same Govt. the 8 million working people who say they do not have health care insurance but are subsidizing Congress's Health Ins. and retirements. The poor are supporting the rich. Congress and Senate are all wealthy men who do not need this support. The Congress of the United States created this problem, and now they say Vote for me in the next election so I can get us out of this recession. Let's build it here and put americans back to work.
The seven hundred billion in baillout money, that many complain about, is petty cash compared to the ongoing drain to our economy caused by the excess, greed, and waste of today's major health insurance providers.
All of the companies that outsourced labor to china to increase their bottom line did it. The Government of BOTH parties that made china a favored trade partner did it. You want a job? Send your resume to China.......
It's not that the stimulus isn't working. It is and will continue to save and create jobs over the next two years. But it can't and never claimed to be able to create 15 million jobs! We are losing jobs because our manufacturing base and needs have changed. Technology has changed the need for many jobs once held by people. We need to look at the needs we have in cities and think about how we can use the skilled people we have to do those jobs. We need a national iniative/foru
on jobs! The president should create a panel to study the creation of jobs. And do it Soon! I want to be part of it!!!
GREED GREED GREED GREED GREED $$$$$$$$$$$$$$$$$
Across the board GREED !
The Corparations for sending all our jobs overseas.
The banking industry for dirty deals that we the tax payers have to
bail them out of!
The Goverment for caving to the "specail interest" lobbiest. Companys know they can buy the laws and rules that serve them best!
I read more on the above blog about the real reasons why we are in this mess then I ever hear on the news shows. The people posting are just real normal people like myself. I guess as long they can keep squeezing us little people, nothing will ever change but I hope you know that we are headed down as a country and will not regain our position as #1 untill real change happens.
All the bail outs, companies going overseas and no one to stand up for the american work force.
A few more thing on why the job market will never turn around:
1) The US does not produce enough of anything to sustain jobs
2) Companies that have cut jobs and still report a profit have no motivation to increase overhead (aka jobs)
3) Consumer confidence is not about spending money, its being worried about how you will duped the minute you do sign a private contract.
4) We are taught to play nice together and get along as children but as soon as our brains develop and no longer impressionable, its painfully obvious that we are all alone.
5) The only thing this country is running short on is TRUTH. Very few examples of gov't, employment, success, wealth, relationships, etc....can't be taken at face value.
5) What war have we EVER won? War on Terror (we can't find the terror) War on Drugs (pharmaceutical or otherwise – still multi-billion dollar industries), War on Homelessness (go to any inner city), War on Poverty (Charlotte NC still has 40%+ poverty ratings), War on...you name it. *hint- body counts do not win wars!
The banks are not loaning to small businesses or giving lines of credit to large companies. When no money is coming in no production of goods will happen.
I can't help but think that the recent increase in the minimum wage has some effect in the unemployment, especially in teenagers.
Jim Wilson
I think it it because of all the greedy people at the top who have all the money and are sitting fat and happy in one of their mansions
Stimulus went to the top should but have gone to the bottom. Look how successful the clunkers program was. Gave jobs to auto industry. Everyone involved was was happy and benifited. I am still paying taxes on my unemployment benifits while Bankers, Wall Street and Congress get tax money for bounsus and raises. Why?
I work at a bank in Check Processing. Technology has cut work until only a third of us are left with jobs. Checks do not come in physically like they did. Checks come in online and go back out online. And in this ecomony they want to figure out how to cut more workers. That leaves very few people covering several different jobs.
How about not sending all our jobs overseas?
I myself have stopped buying anything made in China, and I only buy American made tires, cars, shoes. It isn't all that hard and the exter bit of expence is worth it
The US people are to blame. We have been living beyond our means since the 1980's. Many people are unemployed now because they choose to be – too proud to work at jobs "beneath" them; but not too proud to collect government benfits or unemployment. If it comes to feeding my family or humbling myself there is no choice. Get over yourselves and get to work!
Hi Tony, The stimulus should be 100 % immediate jobs. I wish someone would take a poll and ask the American people if they would approve a health care plan if it was the same plan that Congress, Obama, etc have. It would probably pass unamimously. Has it already been asked and WHY can't we also have the same plan. Regards, Frank Lepore
Start by looking at the biggest store , Walmart and you will not find an america made product
Then check other stores too You will get the same results
We need more products made in the USA
The second biggest problems is illegals
Jerry Dunlap
You have to place most of the blame on two sources: The worker who refuses to update skills and prepare for the emerging technologies e.g. remember the buggy whip. And, employers who are reluctant to share their human skill needs as part of their strategic plan. It these two parts came together, educational and training institutes can develop programs to help those ends meet.
Richard Jones
Atlanta
This is an all out anarchy in the economic world, I tell you what the main thing to blame for job losses is the banks stealing our money and as well the war. The Health care reform debate adds more fuel to this everlasting inferno. If we don't make a amendment to the U.S
consitution fast, our future and the next generation's future truly hangs in the balance.
The real blame lands on we the people who demand american wages but refuse to buy american products, force our companies to not polute but buy products from poluting foreign companies using low cost labor. We take but don't give to our own people,
Watered down stimulus and useless tax credits that fell short in dollars of what most economists believed was necessary. This was done to appease the GOP who awarded the compromise with a zero vote. Now Obama is looking at a health care crisis that could be his waterloo and a stimulus package that assumed unemployment would not exceed 9%.
First there way too many jobs going out of the country . You still read about companies sending jobs out of the country , of coarse company have to make cuts if we aren't buying there products . We need to get more jobs in this country , even if companies were hiring there not enough jobs in this country for everyone . Glenn
Capitalizm is just another name for greed! greed of the owners, greed of the stockholders, the more profit they makes the more they can charge for their stock, and the monopoly game the ivestment bankers play is all greed, unless companies are majority owned by the workers their is no hope for the workers! the banks are most at fault now they are gurarnteed by the public but won't lend any money to the us, they lost with high tech credit reports the art of the personal art of trust in workers!
Jobs, Jobs, Jobs, Drill, Drill, Drill, More Refineries, Tax working illegal aliens, Tax Incentives for employers, as a 5 year old would say "daaa"
the what at countys court house they get pay by the state and county
and they sat at there deck and do nothing and they said work for us
but they do not they work for themselves and they do not help the and
the county and state will not bring jobs in at all
Greed from largest banks and corporations. The heavy emphasis on short-term profits. Private equity firms buying companies, taking profits and leaving them drowning in debt. Outsourcing to low-cost countries. And, our ridiculous health care system. All from the attitude "I got mine, screw you".
almost everbody knows what the main cause of unemployment is.is it aganist the law to talk about it on tv? #1 is free trade agreements.Bill clinton pushed to get nafta through ,since then its been down hill with more free trade. #2 is illegal immigrants, employers will hire them before first because they will work cheaper and that forces down wages for the average american. #3 hiring foriegn workers when there people here out of work.i have a lot more to say about free trade, but i can!t get it all on here.-thank you–i feel when i can say what i think.
The reason for unemployment not going down is simple. Companies are in the business of making money. A company will shed workers to keep it's profit margin up. Shrinking payroll shows up immediately. When the board, shareholders want to see profits and you look around and see that you are having a hard time selling your product...what would you do? They dont care about slow economy..they want to make money.
Here's a thought....everyone on unemployment should protest and not pay any TAX on their unemployment benifits. According to Poppy Harlow's story on TARPS, they can just chaulk it up to the 200 Billion were not going to get back. !
What was needed was a greater stimulus targeted to job creation and public works, such bridge repair, and investment in green industries. The stimulus was too small due to the whining and obfuscation of the Republicans and right-wing conservatives.
The reason there is such high a unemployment percentage is one of the main reason that we are in our economic crises. The reckless and ever so destruction protocol of the Federal Reserve. They are printing money with nothing behind it but the paper and the ink itself. Inflation has made it so that things that could be bought for 2 dollars years ago to roughly 21 dollars now. The Fed and the centralization of banks is on a path that will bring our future to an almost certain demise.
The U.S. does not have a competitive edge anymore due to lack of trained employees. There are many jobs available, but most unemployed people are not trained for them. It is necessary for us to analyze the shortages and be trained to satisfy the demand. The main reason for jobs is for productivity, not to give everyone that needs a job a job. We need to evolve.
First of all why are we listening to Allen Greenspan? He's one of the reasons we're in this mess. Bottom line is that as long as we continue shipping jobs over seas and not producing anything here in America we will continue to fall. Everyone wants to get rich by flipping numbers around from bank to bank and any one with a brain should realize that someone has to get off of their butt and put a little sweat into something. Build something, be productive for crying out loud. Everyone needs to stop trying to get rich quick, stop ripping one another off and take some satisfaction in an hones days labor. Only then will we be a strong nation again.
There SHOULD BE real incentive for corporations to hire such as tax deduction, or direct cash back for every American hired. Corporation incentive NOW is to stream-line cost and profit margins, leading to further reduction in staffing.
I want to see a report on outsourcing statistics as there would be hundreds of thousands of jobs that are being outsourced to other countries. It used to be that only the jobs that required basic skills or labor skills were being outsourced. Now, we are outsourcing jobs which demand high skills, although those outsourced resources don't always have such skills, but companies obviously see the "savings", so they assume the risk. We need regulation put in place for outsourcing ( exporting ) jobs to other countries. If not, we will end up with a shortage of ( for example ) American IT graduates. When outsourcing to India began a few years ago, although I was prepared to be a Java programmer, I decided that I would forfeit that as the jobs were being exported at an alarming rate, so I would gain much broader and more technical skills to ensure that my skills would remain relevant. Currently, to survive, you have to be willing to work long hours or do whatever it takes in order to keep your job. We will be seeing a surge in diabetes, strokes, and heart attacks in the coming years due to this issue as the stress takes a toll on people. I have personally worked with one person that was apparently very healthy, but got diabetes due to the stress at work. Two others that I worked with had strokes and another had a heart attack.
Some individuals of our government are still lying and deceiving the people for the big corporate payoffs, and continue to ship jobs over seas. Without “The People” there is no big corporate, no economy, no money. There is a movement in America. I assure you, we will not continue to vote for politicians that continue to hurt this country and our people. “We The People” will rise up and vote regular citizens into office come election time. No qualms about it, we will vote them out. Everything that they do to defeat good health reform with a public option is being recorded by, watchdogs, news editors and the public. This will not be forgotten come election time. All the money in the world from big corporate wont help them this time.
I've worked in management for the past 25 years and with complete confidence I can say WE the AMERICAN PEOPLE ARE TO BLAME. As children we all read the story of Hanzel and Gretel. This is exactly what happened to us. Foreign interest around the world just kept feeding our insatiable appetite for EXCESS and prodded us to get fat off the hog and WE DID EXACTLY THAT! When it came time for us to get up and do something about our country we were all too OVERWEIGHT to do anything! And I'm not saying we only got FAT in the wasteline, but FAT in our DEBTS!!! And then we got lazy! All of sudden Americans are too good to do manual labor, too smart to listen and too ARROGANT to recognize when WE ARE WRONG!!!!!! We thought we had it made so we stopped improving, stopped striving, stopped growing and stopped producing which is exactly what other countries who would love to replace us as the world most powerful country wanted! The result of all of this is that when the big companies got in trouble they started laying off people that were probably in deadend jobs anyway. So I believe all of this is GOOD FOR AMERICA!!! Now we have a REAL sense of what is going on!!!
Greed is good. Growth is better.
Look at the employee retention rate of the past 10 years, our parents stay at companies for a majority of their lives. Now the company has No Loyalty to employee and the employee has No Loyalty to the company. Bottom line, the American work is a thing of the past.
I have seen the quality of the American business decrease over the past 7 years, many companies are looking for huge margins instead of steady growth. Result, over promise and under deliver.
Companies have no forethought regarding hiring new people. They don't set them up for success, either lack of training, functionality, or organization.
Jobs...
There was a saying my economics professor many years ago used to say.
" Business can survive without government. It is government that cannot survive without business."
When the democrats took over it was like business were the evil people.
Jorge Valdes
Madison Al.
We have been going backwards since the creation of Free Trade Agreements. The corporations run this country, and they wanted the ability to chase the lowest wage to produce their products to increase the profits. They won they got what they wanted. The working people of this country should boycott every product that is made in countries that pay slave wages to their people. The politicians don't have the spine to do the right thing, and frankly I don't think they know what the right thing is to do. We are on the road to failure as a government as it regards to protecting our economy. We are however protecting the wealthy, but have abandoned the working people.
I don't know if the people have the guts to throw all of the politicians out , and keep replacing them until they begin to represent the interests of working people,but I feel its the only way to change things..
EMPLOYERS are definately hold back from hiring because of how
much they are BEING TAXED. They are trying to save as much money
as possible by getting their current employers to take up more tasks
rather than hire new ones.
And ofcourse computers/technology are taking care of the jobs that americans need.
Bring manufacturing back into the US. Hire American workers. Restore middle -class ability to buy American products.
This will require cooperation between both labor and employers regarding wages.
Continued "outsourcing" of jobs along with more cash "stimulus" from
government will only result in escalating inflation and a sicker economy.
The reason why unemployment is so high in the US is because the US Congress has been providing tax credits, subsidies and othe incentives to US companies to manufacture overseas and to ship service jobs to countries like India. In addition, laws have been changed or ignored to enable US businesses to hire illegal aliens at lower pay than to hire US citizens. US companies no longer compete by building a better mousetrap. Instead they compete by buying a better lobbyist
Americans have many more modern expenses, such as cell phones and internet access fee’s. Cell phones and internet access have been almost indispensable tools Do these modern expenses have an impact on the economy as whole?
The government has to hold a lot of the blame, initially for the lack of financial oversight, and now not delivering on job creation promises. As an architect I am hard it by the ups and downs of the economy, especially when businesses can't get loans for construction.
I had hoped that the stimulus package would have created more construction jobs, but the term "shovel ready" seems to have been a fallacy; it seemed like a money grab- where are the hundreds of thousands of jobs? There's so much infrastructure to be repaired, town and cities to improve! Look what good things the CCC in the 1930's created for this country? Wouldn't public improvements and the ensuing employment give us some pride despite the shameful economic situation in which we have placed ourselves?
Its a domino effect that is taking place and it started many years ago. I am suprised we did not have a great depression when Nixon took us off the gold standard.
Fomer middle class, now at poverty level, my husband layed off and no job prospects on the horizon. We are not alone. I see that wallstreet has recovered nicly. Our government makes sure the "rich" get their wealth back! It makes the economy 'look' good, but does nothing for the average worker. Until the average citizen can afford to buy consumer goods again, unemployment will continue to rise. Maybe it's time for a revolution!
I may sound old-fashioned, but the main culprit why our economy and the world is suffering is due to high tech application in almost all aspects of our lives. We cannot avoid modernization. But due to fast-paced modernization, our equipments are all high tech, obsolecence happens every 6 months, i.e., medicine, communications, finance, industry, manufacturing, education, etc. People are not prepared. A job to be done by 10 workers in 8 hours, can now be done by 2 workers in 4 hours. The reamining workers must go. Remember President Reagan ureged the technology society to slow down back in the 80's? WE MUST SLOW DOWN.
Would you invest your money in a business if you are worried about higher taxes?
Tax incentives have worked in the past to help recovery.
Statistics show that lower taxes result in higher revenues for the government.
The problem is related to high numbers of mortgage foreclosures.
Currently there are 8 homes being foreclosed for every home purchased nationally. Home prices continue to decrease, which leads to further reduction in consumer spending, which leads to corporation staff reductions, which leads to higher unemployment. Government programs have thus far been ineffective in meeting growing high rate of foreclosed homes each month. Look at it as a giant spiders web where credit and money being the web driving consumer spending!!!
Outsourcing jobs overseas is the problem. President Obama commented on WhiteHouse.gov that the jobs we are outsourcing nobody wants and that they are low class jobs. Accounts Receivable, Accounts Payable, Human Resources and Benefits are NOT low class jobs. Companies are outsourcing jobs putting thousands of Americans on unemployment.
The continued unemployment climb is not rocket science. After the Great Depression the U.S. pulled out of it by buying American made products. Employers began to see a demand, people were hired. Our government cannot interfeer with trade agreements without starting a trade war. But we as American citizens can purchase our own products, and get us out of this Great Recession.
Tony- It is the exportation of jobs with manufactoring industries moving to low wage countries. Who do they think will buy these products that are made in a foriegn country when everyone in the United States are unemployed!!!!!!! I think that several selected tarrifs should be inposed on more products being imported.
Tony – How do you have this conversation without talking about immigration. Pres Obama stated on TV that even with the 50,000 new jobs a month that this number won't even keep up with the population growth. I found this a shocking number.
Then with a little checking ... we allow legal immigration of over a million people a year. We allow over a million people a year citizenship while 15 million people are un employed. This 2 million extra people a year represent over 200,000 new people a month. WoW, how do our leaders reconcile this influx of new people when we can't employ the people we have?
What is really amazing is the fact that employers are not taking advantage of so called free money for hiring people for a short amount of time to give people an opportunity through certain entities of the states. It may be tax payer money, however it is giving the company and potential employee an opportunity to have a longer working relationship which would help out the tax base.
When looking at the nations economy one only has to answer one little question. How many 8 dollar an hour jobs does it take to make up for the 18 dollar an hour job that went overseas? Even if you could work two full time jobs your paycheck is coming up 80 dollars a week short. Eighty dollars a week multiplied by ten million workers is 800 million dollars that has left the economy each week . Well!!!! guess what that comes to 41.6 billion dollars a year, that's 624 billion over the last 15 years.
So, it easy to see why we need a 700 billion government giveaway, because , the government let big business give away the economy under the impression that they needed to be able to better compete in the global market.
Well it's funny that their products cost more when they came back to the largest market in the global marketplace than when they left.
It seems to me that 41.6 billion dollars a year would buy something important in the economy, like say over 2700 new homes or 13,800 new cars or, sorry, my head hurts from all the math, but I could have used one of the 416 ,000,000 doctor's office visits this would have paid for.
When will we see the economy back to where it was? We won't until the rich settle for just being rich and congress does something about bringing the higher paying jobs back.
Former Federal Reserve Chairman Alan Greenspan, not the right guy to ask about the debt, and unemployment! Or maybe he is, if you asked the right questions. Like do you feel any guilt about the situation we are in? Come on CNN be more like Jack!
The Bush Administration passed on quite a bag of worms for President Obama, didn't he?! Exposing of such atrocities in our stock makets, corporate greed, the vetting process, healthcare reform, iraq, the taliban, wars, the automotive industries...shall I gone on? The economy was cloaked in lies from the Bush administration and you would have to be quite the magician to have foreseen exactly the extent of what brought about our economic collapse. I think President Obama and his Administration is doing a stellar job given the web he's been left to unravel and address!.
Hello;
I was watching CNN ( Tony) this afternoon 10/5/2009 and wanted to let you know that, I live in Phiiadelphia, Penna. and have been unemployed since 2008. I am getting unemployment benefits. I am trying to find employment, (with no results.) I worked for a staffing agency at one time, but was bumped out of the position b/c of further lay-offs at the hospital that I was working at. I have not been able to gain employment since. And I not only don't have a job, I also do not have health insurance!
I think the stimulus packet is not working in Philadelphia at all. I am very upset b/c I can not find a JOB. I worked all my life and now I am divorced, and can hardly pay for my house. President Obama is not the blame. Hell, I voted for the man. I think ex. president Bush should be in jail for the hardship that all americans are going through at this time. I just wanted to give you feed back on someone out here needing employment, and soon.
Thank You
C. Moore
Technology is fine when it works, but everything dies when it is down. Thats why it is important to remember the old fashioned way of doing things. Patience is a lost virtue in our country.
Today, Oct. 5, 2009, you addressed the issue of unemployment and who is to blame for the high unemployment. What you failed to mention was the extraordinarily high unemployment rate among the disabled.. According to the US Census Bureau in 2000, 75% of the disabled community was unemployed (not underemployed) only 2% of that 75% were not actively seeking employment. In the years following the Census, I have heard little to nothing about what is happening to encourage the disabled to be gainfully employed. What about us? We need jobs too.
95% of all wealth in America is in the hands of 1% of the people. This means 95% of us have the 5% left over to work with.
Great wealth bears great responsiblity. Until some of the fat falls off the 1%, this country will continue to decline.
Corporate America out sourcing our jobs over seas and to Mexico.
Republicans allowed th deregulation o our government who was in place to protect us.
The Republican government has turned us in to consumers who produce nothing.
Outsourcing has done damage to the economy. Years ago an American could get a factory job to support their family; now nearly all products are made overseas. Many Americans have lost jobs and their jobs get sent overseas.
It's just a cycle. As more people lose their jobs, there are less people out there spending money at businesses, so those people lose their jobs, and then even less people out there spending money. Even as people get depressed they stop spending as much money. Nothing in specific is to "blame", except possibly increasing pessimism.
Employers laying off to make sure they get a rather obscene paycheck is at the heart of it. The stock market is doing better because of the bailout and the programs that were designed to stimulate the housing sector. I think more could be done to increase employment like a real cap on executive compensation. That is a way that companies could cut cost and hire more employees quickly. I think when half of a company's budget goes to one person that is irresponsible and has added to the problems we have with the unemployment rate. Also, if we had a real health care system that did not rely on companies to negotiate we would remove all the overhead that comes with health insurance for businesses and hospitals.
Whats to blame wars and more wars, wars destabilize. Wars cost money, bring up gas prices, change the mood of people from positive to scared and worried. Wars cost money lots of it... Wars are long term painful non productive use of the country wealth. Stop all the wars bring everyone home use the same money spent everyday in wars to create jobs we all be fine...
The thing that the people responding don't seem to understand is basic economics. If manufacturing moves back into the U.S. then the prices of goods will increase because wages are so high in the U.S. – The people complaining about outsourcing are not complaining about being able to buy consumer goods at reasonable, even cheap prices.
Two main reasons for unemployment: 1) Politicians that make us uncompetitive through regulations. They add costs that serve their political will. If politicians had any competitive or intelligent mind they would create good products and services. 2) Unions that have made our industry uncompetitive through ridiculous make-work.
Manufactuing in U.S. must be restored for jobs and prosperity to survive for our citizens.
As jobs have gone overseas, I am surprised there is a lack of incentives by the US Government to entice these businesses to bring back jobs to the US. To make it worse if the new administration plans on raising taxes on the very wealthy after the Bush cuts drop in 2011, why would these businesses not just pack up and move their business overseas? This is one of many issues facing us, but if we want to see Americans employed, we have to do something.
Capitalism is about profits. As wages go up (mandated by govt), costs go up and the 'sell price' of the finished product must go up. So jobs will migrate to where wages and costs are low. Make a pair of shoes in the US (at $10 an hour) and sell them for $100. Or make the equivalent pair overseas (at $1 or less an hour) and sell them for $30. Ditto for most manufacturing and assembly jobs. Automation helps to a point. What would a car cost if it were assembled completely by hand? (no robots)
Greed is the main reason for the unemployment. Corparations are in congress pockets and they are the ones that are making all the money. We are just cattle to them.
Greed, power & corruption in Washington. But people have to accept we are in a global economy. All the cries for and attempts to install protectionist measures will isolate the U.S. and things will get worse. In The World Is Curved (came out in mid 2008), David Smick states matter of factly: whomever ever wins the 11/08 election had better refrain from protectionism and class warfare. Both are now being aggressively pushed in the U.S. Smick states these were the two biggest mistakes made that exacerbated the Great Depression. This does not bode well at all for the United States economy. Rather it portends the proverbial double dip recession that will be fueled by a renewed frugality by consumers, dismal retail sales and a second wave of foreclosures, residential and commercial.
It's hard to beleive unemployment is getting better when we still hear of more layoffs everyday. Drive through buisness districes and you will see many for lease sighns outside once thriving buisness. I have been laidoff since 10/08 and will never make the wage I was a year ago.
What's a cause of our $$$ problems in this country? We need to export as much as we import! If China, for example, only allows us to import $6,000 we should return the favor. Politics are the only reason we don't do that! Our own people are suffering and we can't take care of them. Children and the elderly are starving, we have countless homeless - the list goes on. We call ourselves a world superpower yet we allow politics to come before we take care of our own? Can you address this issue, Tony?
Hi Tony, I worry the manufacturing industry is on its way out in the US due to outsourcing to other countries.If in the future we were to require the manufacture of defense equipment for the US homeland,who is going to build it? Mexico?or should we ask China to build up our military?Maybe Japan could give us a hand. Years ago our manufacturing sector(automotive)was changed over to build equipment to supply the US military machine. I think we are setting ourselves up for anyone to just walk in and take over!
What’s to Blame?
Slow implementation of the stimulus package and not enough being done at once; Employers being cautious and continuously asked to cut back to save.
We are also loosing jobs to overseas competitors (ex: manufacturing jobs) and will continue to do so, but we as a nation are not adapting fast enough. To adapt we need higher education standards and make education cheaper along with many, many, many other things so we can ADAPT and move forward as a nation!
The trade deficit . The only way to make industry return to the U.S. is returning to trade tariffs and leveling the playing field An economy is an eco system . The top does depend on the bottom sooner or later.
The bottom line for all of America's woes is a government and Congress overwhelmingly controlled by special interests in every economic sector.
America was created to be a nation "of the people, by the people and for the people." Instead, because we don't reign in special interests and minimize their influence, we are a nation "of the powerful corporations and lobbies, by the powerful corporations and lobbies, and for the powerful corporations and lobbies." The welfare of the actual citizens is barely considered (if at all, anymore), because our Congress ultimately and secretly answers to the special interests who weild the power and money.
Election to governmental office should be based solely on qualifications and performance on behalf of the citizens' interests - the rich should have no advantage. Special interests and corporations should have NO ability to influence or fund our politicians or political system. And to protect people, much more oversight and regulation must be put in place.
Monied interests of any kind that lie or mislead the public, or who harm the citizens in any way should face daunting penalties, loss of business standing, and imprisonment of those directly responsible.
Our government has "devolved" into something that would be unrecognizable to the Founding Fathers. It is unsustainable on its present course. We must make radical changes to find our way back to the democracy we are supposed to be.
Christine Compton
Long-Time Activist for Social Justice and
Democratic Member of the D.A.R., Samuel Chase Chapter
The Republican government Ronald Regan, and both Bush presidents.
1. They killed our farming industry after they started making ethonol to power their farming equiptment. They cut off the aid for farmers and let the American farmer dry up for Saudi Arabians and their oil interest. Now we spend 85 billion per year on produce from brazil.
2. they cut out all government training facilities and job cor centers.
3. They closed down all the mental hospitals around the country.
4. They faught senseless wars which cost us debt beyond comprehention.
5. They made Don Regan of Merril Lynch the secretary of treasury, and they allowed deregulations of banks and corporations. Thus killing off all industry and sending business over seas. Also allowing the banks and corporations to rob us today.
6. Allowed GM to close plants in the US and move to mexico, losing more jobs.
7. Killed off the Unions, and dismantled the working class secure stability in this country.
8. Allowed China to own more interest in the US from loans, and allowed almost 75% of our products iported to come from China, and 11% of ours shipped back to China.
9. Allowed the insurance industry, and our government to be bribed and there for 60% of all our politicians are currupt.
10. Alined the supreme court with republican justices, and those who would side with them incase of indictment.
11. Set up the workers compensation legal court system which set caps on law suits by injured workers. This court system is currupt, and government controlled. This left out moneys which would legitimately go to the court system, and hurt the injured workers who now have poor care, and have to go through many chanels to recieve surgeries, and test. This system is a massive waste of tax payer dollars, and the legal fees taken from the little salries of workers recieving compensation is far too great.
12. They allowed the insuranc and mortgage companies to steal American houses from the home ownrers working hard. They also allowed the banks and credit card companies to raise rates so high that people had no remedy from failor.
I blame the entire republican party, and congress , who most have been in office sense then, and sat by , took bribes, and allowed this to happen to us.
WE are now all poor except for tem and the rich who all profitted, and still profitt toda by buying our homes at pennies on the dollar.
Tony,
There are many, many reasons for unemployment in America. Unfortunately, some of the REAL reasons for unemployment is not being spoken in main stream media. One of those reasons, especially for people in those states that have this law, is the Right-to-Work law that is on the books. I CHALLENGE YOU TONY (or any journalist at CNN) to investigate further into this law (Florida would be a good place to start) and bring it to the attention of those in power and make them change it!. You will shortly realize how this law (loop-hole) allows for the wrongful firing and terminations of employees; i.e.: racism, poor management skills, and discrimination on any level is running RAMPANT within these states! Just look at the states with some of the highest rates of unemployment! I have even asked a local politician here and no one wants to touch this issue! Now, I have not checked and verified all these facts, but I have looked into some of the states that have this law and they are states with a history of racism and unions! These old laws are being used today when ever an employer decides he does not want someone working for him any longer, they can just call you in or at home and say, "Sorry, but it's not working out, so we have to letyou go". If you demand a reason, you will be considered argumentative and then told, "We do not have to give you a reason, by law, it's just not working out". In the last five years, I have not been able to make it thru probation with approximately 4-5 good employment offers. Just the 18th of September did I barely make it thru my 6 month probation with my new employer. Thank God! But, with that said I have still been warned to make it work! To me, that's like asking me to control which way the wind blows! But, for the first time, I have a union I can and will be joining! But there are hundreds of thousands of people who live in states that have this law and have absolutely NO CONTROL OVER MAINTAINING OR KEEPING THEIR JOBS! AS LONG AS THIS LAW IS ON THE BOOKS, NO ONE HAS JOB SECURITY!
Employer-provided health insurance is killing jobs for Americans. It's cheaper to get work done overseas where people go without health insurance or to employ temporary guest workers or illegal aliens who go without health insurance.
Additionally, American health insurance companies set premium rates based on age so aging baby boomers on the payroll raises the cost of health insurance for all employees and that's why they are so vulnerable to lay-offs..
If there is no healthcare reform, we could have 30% or 40% unemployment as the baby boomers age.
I call this "shoot-me-in-my-foot" economics.
Regarding the growing unemployment situation in America, I agree with Bill Cosby's recent comments as to what to do about it:
1. We will immediately go into a two year isolationist posture to straighten out the country's! attitude.. NO imports, no exports. We will use the 'Wal-Mart 's policy, 'If we ain't got it, you don't need it.'
2. One export will be allowed, Wheat. The world needs to eat. A bushel of wheat will be the exact price of a barrel of oil.
3. When imports are allowed, there will be a 100% import tax on it.
4. Social Security will immediately return to its original state. If you didn't put nuttin' in, you ain't getting' nuttin' out. Neither the president nor any other politician will be able to touch it. It will be sacred!
5. Welfare – Checks will be handed out on Fridays at the end of the 40-hour school week and the successful completion of urinalysis and a passing grade.
Tony,You reported that Bobcat Maufacturing sold the company to a Korean investor.....who's to say those people in Gwinner won't have their plant shut down.There are manufacturing companies in Korea that build that same type of equipment.that Bobcat is in competion with.WAKE UP PEOPLE!! You are selling the american worker down the drain!
THE TRADE DEFICIT ! Call me a protectionist if you want to, your damn right i want to protect my family !
GREED, COMPANIES OUTSOURCING. The government should take away ALL tax breaks that a company get when they send jobs overseas that cost taxpayers and employees as well as the US economy.
I was laid off at Ford Motor Credit , my job was outsourced to India and Panama, now I can't get a FHA_HAMP modification from Citi Mortgage while they sit on TARP$$. No oversight with the Treasury Dept, HUD,FHA. to make them follow Federal guidelines and Citi not make up guidelines to suit them...
Our economy and jobless rate is due to " GREED" AND LACK OF LAWMAKERS DOING WHATS RIGHT FOR AMERICANS. Conservatives don't seem to care about the middle class on down to the poor in America. They only seem to gravitate twards the Wealthy and Corperate America and whats in it for them. I would like to know when it's going to be our turn? During the Bush Cheney Administration Law Makers never said a word about BUSH AND CHENEY spending America into a recession. Now that we have a black president it seems they never shut up they have complained about everything Mr. Obama has tried to do and blamed him for all their passed mistakes. Thats the problems I see GREED AND THE ME,MYSELF AND I syndrome and pass it on to the new guy.
NO JOBS NO INCOME (PROBLEMS!!!!!!!!!!!)
Tony,
Big "companies" and "our own government" have let to many jobs go out of our own country (UNITED STATES OF AMERICA), that is a big part of our lack of jobs!!!!!!
Did our own government give these companies insentives to do this to us, WE THE PEOPLE OF THE U.S.A.??????????????
CHEAPER LABOR, that is the excuse and the B.S. storey that we have been given for years now, we can't be competitive, I think different!!!!!!!!
You don't hear any of them say "LET'S BRING LABOR BACK HOME'. You can't hardly find anything in the stores that say's, MADE IN THE USA. We are supporting other countries more than our own U.S.A. anymore!!!!!!!!!!!!
CEO'S and PRESIDENT'S of companies aren't worth MILLIONS PER YEAR!!!!!!
No humanbeing is worth MILLIONS PER YEAR!!!!!!!
IGNORANCE AND GREED, big part of the problem!!!!!!!!
Sorry, but it is hard to believe the leaders of our own country anymore. We have been SOLD DOWN THE RIVER long ago!!!!!!!
When there mouth moves, BEWARE!!!!!!!
Maybe some of them need to loose there income, benefits, and health care, to really understand the everyday person and where we are at in our struggles and battles to just survive. People are left to do things way out of there usual caricature to just survive anymore!!!!!!!!
What do we have to do just to have them understand and listen to us??????
BECOME REBELLIOUS??????????
We have been shown that all it takes is the signing of a peace of paper and BILLION'S can be pumped into a system to help it from collapsing and failing!!!!!!!
Those that run these companies, make more than they are worth and they still have a job and make a very good income!!!!!!!!
If they were running there companies properly and with common sense, there would not have been the need to help them in the fashion WE TAX PAYER'S HAVE!!!!!!!!!!!
Mr. Bernanke said that he feels like the resation is over. Maybe for the banks and financial sytems they helped out. If they would just put that much interest and effort toward the UNEMPLOYMENT PROBLEM!!!!!!!!!!
THE RICH GET RICHER AND THE UNFORTUNATE AND EVERYDAY PERSON DIES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I am currently on unemployment from Connecticut, currently living in Florida. I have 4 weeks left of unemployment, so i called Connecticut Dept. of Labor and they told me that is it after the 4 weeks i have left there are no more extensions, so what am i to do living in Florida when Florida is one of the highest rates of unemployment? How can they get away with stopping unemployment like that with all these people out of work? Can you give me any advice cause i'm really nervous now, i've been looking for work for awhile now it's just ridiculous out there. Just let me know how they can do that?? Thank you.
It is so simple, Free Trade. Ross Perot told Daddy George and Clinton what would happen, but good old Bill signed Nafta and the Chinese agreement anyway. Too bad free trade is a one way street, both Mexico and China have duties and "if you sell it here you make it here" rules. If someone in the media would do an in-depth piece showing the devastation these agreements have done to the US as well as the world's economy, maybe then American's would become as outraged about them as they where with the Vietnam and Iraq wars. Then again the media would dare anger corporate America and loss ad dollars.
Who's to blame? I don't know but I am pretty sure it didn't happen overnight, so I would say Bush is to blame for not acting sooner. I am however, a business owner, I am ready to hire but noticed that BANKS are still NOT lending to small businesses. They are just not. The large money hoarding, heartless banks who were initially given our tax money, is obviously the blame for starting this downward spiral. Not matter who we are, we are all at some point or another subject to lending institutions. If we continue to ignore that a "checks and balances" system needs to be ABSOLUTLY enforced and that they are as fully responsible for their actions as anyone else, this downward spiral will unfortunately continue.
Free trade is to blame! How can America compete with labor costs in third world countries when an average American could not possibly make a living on what these countries pay there factory workers. these huge companies should be boycotted by American people to show our disgust at they’re betrayal of our people!
With the main focus being on health care right now, people have quickly forgotten to put the attention on the current unemployment problem rising in the U.S. Americans like to blame certain companies, Congress, or the President for this issue. There are many factors, however, that need to be taken into consideration; there is not just one aspect for blame. One reason I believe unemployment is so high right now is because of the numerous job cuts. Several families have lost at least source of income, but in few cases, people have lost all forms of income. I’m not blaming the companies, because many of them may have to lay off a few employees just so the company doesn’t go under. This does cause a significant rise in unemployment, however. Another reason why our unemployment rate is so bad is because the economy is a mess. Though a small number of people don’t want to accept it, we are in a recession. Gas prices have skyrocketed and the housing market has slowed. A lot of big business industries (auto, financial, insurance) are falling on hard times. These industries, which once had the largest number of employees and many openings, are now struggling to keep the workers they have. As Americans, though, I put the blame on us. We have become a nation of consumers, not producers. We keep taking and not giving. We want all to live the big life, so we go out and buy the newest car, big screen, or home, knowing we can’t afford it. Then when we realize our job cannot pay for the lifestyle we want or we lose or job, we blame the government. During this recession, we need to be smart, and do what we can to help one another. People will find many things to blame unemployment, but we need to make sure we are doing our part before we blame someone else.
1) OUTSOURCING of American jobs and manufacturing is responsible for the loss of jobs in America. The outsourcing is caused in part by a hostile climate from employees who can file punishing and frivolous lawsuits.
2) Legislation is required to protect Americans from displacement.
3) The same process that has disenfranchised Americans is and has been used in other countries to displace their population.
4) Finally, American corporations must endure punishing and frivolous lawsuits from employees making it painful to hire them.
SOLUTION: END AFFIRMATIVE ACTION NOW! End Affirmative Action and make it plausible for employers to hire Americans without going bankrupt from lawsuits. End frivolous lawsuits. Sure, workers do need protections from abuse, but let's get real, the companies simply cannot operate while being sued and controlled by every special interest group with whatever agenda.
Also enact legislation to make it less desirable to outsource jobs and manufacturing. Hint: Unless Affirmative Action and frivolous lawsuits by special interest groups are stopped, the business will fai,l even if they are forced to hire Americans, there will be no jobs because the companies will go bankrupt from lawsuits and legal entanglements wwith workers.
Tony:
With our infrastructure in need nation wide and unemployment one of our remaining problems with our economy, infrastructure will create the employment.
Tony, regarding the violence in Chicago, the best solution is to focus more on parents or guardians of these violent youth. Every time a teen or minor is taken into police custody, they should take the parent or guardian along with them because some are just as violent or more violent than their children. These violent minded families affect other families that are struggling to work and take care of their families in the best way possible. People don't always tell of suspected crime because of fear of the unknown, like community or police officials associated with crime or unattentive to the crime. I saw this first hand because I lived in the city of Chicago, West and South side, for more than 30 years. I'm now in the suburbs where some violence is spilling in spotted areas. It's time for the grownups, especially men, to act like responsible grownups and take back the communities all over America! That include the parents/guardians, neighbors, uncles, aunts, teachers and any other sensible adult! My teen years in the 60's were spent in the South where adults ran the community! No youth in my community were going to run anything! So, for a start, give counseling to the adults and/or take them to jail where needed! Also, maybe some civil suits should be filed against parents who aid and abet their kids with violence, regardless whether they have money or not!
Country Club Hills, IL
I believe the 9.7% national unemployment rate has helped the trade deficit narrow, since companies aren't building, and we're trying to hang on to our homes and jobs....therefore not buying the extras, which I couldn't do anyway....I'm part of the 9.7%
The reason for high unemployment?
The American economy is simply much worse than anyone realizes.
If you want to sue someone about the financial crisis in the u.s. sue those in the Bush Administration Who allowed easy and sub prime mortgages, and the financial innovations that allowed the u.s. to export this toxic debt around the world, the banks were only following their instructions.Cheannie, Bernacke and Paulson for starters. This crisis was engineered by the Bush administration. They created the housing bubble as a short term boost to the post Iraq invasion economy that was lagging. And expected to profit from it 'cleaning it up'. Only the commodities market crashed sooner than they expected, scuttling their plans to steel the white house for a third time, didn't you know the real reason why so many of you had to stand in line for 5- 10 hours to vote in '08, thank god for the paper voting receipts.
But the real problem goes back almost fifty years to when the u.s. and the rest of the world went off the gold standard. This hid the fact that the American economy was is decline. Hid it until the rise of the Euro which by providing an alternative to the U.S. ‘dallar’ as a global trade currency exposed the weakness in the u.s. economy once again. Bush II invaded Iraq because they had started accepting Euro’s for their limited sales of oil that was allowed for humanitarian relief, they had also sold off much of the u.s. dollar reserve fund and bought Euro’s instead, a move that enriched the Iraqi’s substantially as the u.s. dollar was high at that point and the euro was much lower. This is the same problem Venezuela is posing for the American economy and the real reason why they are being harassed by the u.s. administration. To read more about this look up the u.s. economist richard russel.
The only solution is for Americans to solve their health care problems and begin to re-industrialize. Allowing the u.s. dollar to slide will help with u.s. exports and slow down imports, but china and the rest of Asia are going to fight a lower u.s. dollar because it will hurt their economies. A new world trade currency might solve some of these currency conflicts. Bottom line, the u.s. has to get its financial and economic house in order, pronto. Health-care reform is much more important in this equation than most people realize, get it done and move on, start solving some your countless other economic problems.
Stop whining and complaining and looking for scapegoats- get down to work, and keep the republicans out of office for at lest 12 more years, they only want to create catastrophe’s and line their own pockets with government contracts to clean up the mess they themselves created, hurricane katrina, this global meltdown, the first and second iraq wars, the afghan war, etc. Its time for americans to wake up.
Whats to Blame? 8 Years of Buch policy of letting Wall Street Run a Muck, good old boy politics and giving the wealthy every tax break and advance possible, and ignoring the middle and lower class people.
America became way top top heavy, and this is the toppling of that.
The unemployment is do to "GREED' CORPERATE AMERICA took stimules money and still laid off employees and closed factories and moved to outher countries for cheaper labor and leaving americans out of work. Conservative America and coerperate America are working hand and hand and don't care about the lower class workiing American. WAKE UP AMERICA ONE PERCENT OF AMERICA HOLDS ALL THE CARDS WE ARE JUST DISPOSABLE IN THEIR EYES.
I have tryed for a modification .Know they won't to know how much I can contribute towards a workout. I thought they were trying to help.
What's to Blame? BUSH...The reason for high unemployment?
The American economy is much worse than anyone realizes.
If you want to sue someone about the financial crisis in the u.s., sue those in the Bush Administration, who allowed easy mortgages around the world, the banks were only following their instructions. This crisis was done spontaniously by the Bush administration. The only solution is for Americans to solve their health care problems and begin to reindustrialize. A new world trade currency might solve some of these conflicts. Bottom line, the u.s. has to get its financial and economic house in order.