bucket shops always act as if up against the wall - mine slipped me on several occasions today.
I spoke to a client of mine in California last night - she was explaining that it's a small nightmare over there claiming to have about 20% unemployment roughly, which is being hidden by government officials using set up statistics. As much as I "love" conspiracy theories I do get that quite a lot from US people.
Auxesis, you are in the US - is it that bad really?
The unemployment number is very questionable, the actual government definition,
Unemployment rate: The percentage of the economically active population who are not working but want to work and are actively looking for employment.
That means, that you have had to have held a job, and are actively looking for another. It does not take into account those who have been without a job and have given up looking and/or have lost their unemployed workers compensation benefits. It also does not take into account self-employed individuals small business owners that have quit and gone out of business.
9.7 is the official number but almost all creditable sources figure it between 15-17.5%. There are some areas like northen Indiana that were heavily into like Recreational Vehicle Manufacturing, that have 25-30+% unemployment.
Entire communities, cities and even States are going defunct because there's not enough employed people to sustain the normal infrastructure service businesses, and consumption taxes.
It is bad. An despite the big numbers you're seeing on the dow, Blue Collar America, is broke and fed up.
regards,
Thank you MaMood
