Double Dip Death: How the country is EVER going to extricate itself now from this probable double dip recession I will NEVER know. 401K stock market investments are now tanking yet again for those who have depended upon – NO hoodwinked into depending upon -- the market for their retirements. I have talked to some who understand economics and they are telling me that the figure the government gives of 9.1 percent unemployment is FALSE. The unemployment figures my sources tell me is more like 15%. We are headed for, if not beginning, they think, a Depression of 25% unemployment or more (and NOT simply a double dip recession which is bad enough.) I do not know which economic prognosticators are correct.
I DO KNOW food prices are out the roof at a time when people do not have jobs nor do they have little prospect in acquiring any. Who have gained by the simply staggering economic mayhem they have created since 2007? Wall Street has gained like a Henry the VIIIth glutton. Do you think the Lloyd Blankfeins of Goldman OR Jamie Dimons of J.P. Morgan Chase or Brian Moynihans of BOA are worried about the price of milk being on average $3.50 per gallon? I suspect they are doing just fine as so many CEOs in the banking, real estate, hedge fund industries and big corporation executives are.
What is this going to mean for the little guy? IF prices do not stabilize, foreclosures continue, jobs are not created and people have NO health insurance I do not think I am waxing histrionic when I say that it will ultimately mean death for many. Yes, we are NOT talking about a mere job loss for a few months. We are talking about EVERYONE, including those who are approaching retirement losing it all, losing their safety nets and ultimately losing their life to the malfeasance and malevolence of the mad money makers of Wall Street.
When those who have controlled this economic puppet theater think they are having such a good time making their billions, enjoying their bailouts and bonuses on the backs of those who cannot sustain yet another recession or god forbid, ultimately, another world wide Great Depression, they must know that their actions, much of it illegal securities fraud, have killed, are killing and will ultimately kill middle and working class people everywhere. I believe it is premeditated murder as those who have done such dastardly deeds like rating securities Triple A that were junk and selling them to unsuspecting buyers were, in collusion with the inside jobbers, understanding that they would get very very rich and the little people would get very very poor. They KNEW it would affect everyone from telephone linemen, to teachers in the disappearing-before-our-very-eyes public sector employment in the states, to toddlers’ education and health. They knew their actions would have catastrophic consequences and mean even the states would face bankruptcy. They KNEW that everything world wide could come crashing down – all of it except them that is. Well who cares about the little people anyway?
I do. I am the little people and I do not want to die!