Today the official unemployment rate today topped 8 percentup from 7.6 percent in January to 8.1 percent in Februarybut even more troubling: The broader unemployment rate, which is the most comprehensive unemployment measure, rose 0.9 percent to 14.8 percent in February. The broader unemployment rate includes the 8.1 percent figure plus people who want a job but have stopped looking and people working part-time because they cant find full-time work. That means about one out of seven Americans are either unemployed or underemployed. Some economists think the figure will top out at 20 percent.
I'm sure it won't be until it's done.
Some wrote recently that this economic downturn will lead to the redefining of terms. A recession will become a downturn and a depression will become a recession. I buy that.
Anyway, all those people losing jobs now are fairly fucked. And when GM goes bankrupt, it's going to be hell on Earth. I'm still sticking with my call for riots in September.
And I'm going to buy a new car today for my wife. What a dick.
There has just got to be some hope left if we're not all dead yet for the future is all I have to say to those Crazy Stats! 20%..FUCK MY ASS! THat's hard Son! AHahaa
Tiffini
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