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Both retail and government says spending is chugging along.
Where are they getting the money if so many are unemployed ?
Holiday retails spending is always high.
You believe the numbers from the government? If you are not collecting unemployment benefit, you are no longer count as unemployed. I tell you what, by the end of this year, if there is no more new layoff, all the people on unemployment will exhausted their benefits. No more unemployment. Hooray!!!!!
Well, it isn't surprising, since 2008-2009 recession was as close to Great Depression as we've ever been since. Has there been a time since then, that the economy lost 8.8 million private sector jobs (nearly 8% of total private sector jobs) in just two years?
Well, it isn't surprising, since 2008-2009 recession was as close to Great Depression as we've ever been since. Has there been a time since then, that the economy lost 8.8 million private sector jobs (nearly 8% of total private sector jobs) in just two years?
Many people do not realize that the Great Depression persisted for more than 10 years and was followed by WW2. ( There were and remain conspiracy theories that FDR orchastrated the bombing of Peral Harbor to allow the U.S. to get into WW2 through the back door and did so to end the Great Depression. )
It was then necessary to impose income tax rates in excess of 90% on the highest income earners to pay off the deficits created by the Great Depression and War.
The prosperity of the 50-60's occured for a unique set of reasons that are impossible to duplicate, today.
Both retail and government says spending is chugging along.
Where are they getting the money if so many are unemployed ?
Millions of homeowners (including underwater) are now flush with cash from refinancing at lower rates.
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