Way to go, Obummer ... and Leftists. You did indeed bring change to America.
Howard Gold's No-Nonsense Investing Archives
Oct. 14, 2011, 12:01 a.m. EDT
Army of unemployed is now entrenched in U.S.
Commentary: Structural woes in economy creating ‘permanent underclass’
By Howard Gold
NEW YORK (MarketWatch) — Slowly, over the last year, it’s begun to dawn on us: The economic recovery isn’t really making a dent in unemployment.
The public knew this much earlier than economists or pundits did, and as for politicians — don’t ask!
U.S. President Barack Obama speaks at North Carolina State University
about the American Jobs Act that he unveiled in an address to a joint
session of Congress in September.
Survey after survey showed Americans didn’t believe the economy was recovering. And people who commented on MarketWatch articles have been downright hostile to any notion that either the markets or the economy were getting better.
But economists need hard data before changing their minds. And over the past few months, more and more of them have concluded that indeed the depth of this particular recession and its roots in the financial crisis have combined with structural changes in the economy to push the so-called “natural” unemployment rate in the U.S. permanently higher.
If they’re right, it would be bad news for millions of Americans whose prospects are bleak enough already. It also would make the U.S. economy more like the Europe we’ve routinely derided — without the social safety net European countries typically provide.
Full article: http://www.marketwatch.com/story/army-of-unemployed-is-now-entrenched-in-us-2011-10-14
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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