Geithner wants to keep it going into next fall, and so the wheels keep turning yet nothing is moving.
http://news.yahoo.com/s/ap/20091209/ap_on_bi_ge/us_bailout_extension
Pretty good analysis of why unemployment is so high and will remain so. They government has been killing small business for years and are now just kicking a dead horse.
Real unemployment is going to settle out at 15-20% and remain so until these clowns get voted out of congress and the White House.
You should probably add this to my “O=W” thread.
I recently started a government engineering job. At least 5 other new-hires I’ve talked to were private sector workers seeking refuge from a collapsing private sector. One guy had been out of work for 17 months and had a very good resume. Another was tired of working for one under-funded start-up after another.
The private sector has actually been in recession since 1999. All we’re creating is government jobs now and that can’t last for very much longer given the interest payments on our public debt.
BTW, did anyone read about Greece defaulting on its debt? What makes the UK or the US immune to doing the same?
I know what you mean. I get hundreds of resumes a month from folks looking for anything at all. Some of these guys I would of snapped up in a minute a year or so ago.