Tuesday, August 18, 2009



If the recession is over, as some economists say, why are so many people still unemployed? The so-called jobless recovery is raising an intriguing question: Should America resurrect something like the Works Progress Administration (WPA) - the New Deal job-creation program that put millions of unemployed Americans to work building schools, roads, parks, libraries and other needed infrastructure projects during the Great Depression?

Indeed, the current situation is stark. When people say there are no jobs out there, it's true. According to the Bureau of Labor Statistics, at the start of the recession in December 2007, the ratio of job seekers to job openings was 1.5 to 1. Now six unemployed workers chase every available job. It's a brutal game of musical chairs in which a great many people lose and spiral downward economically with disastrous consequences, not only for themselves and their families, but also for communities that were once productive and prosperous. (See pictures of life during the Great Depression.)

... the answer is simple ...
... the recession is not over ...
... and the stock market can still crash like in 1929 ...
... brace for impact ...
... as it possibly may soon ...
... three magic words ...
... peak, negative accelerator and domino effect ...






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