More than 15 million Americans are out of work and 3.5 million lost their jobs this year
Fred Day
Nov. 7, 2009

They do not call it a depression, it is far worse than a depression because another 150 million Americans are deeply underemployed.More than 15 million Americans are out of work and 3.5 million lost their jobs this year alone.

``I won''t let up until the Americans who want to find work can find work, and until all Americans can earn enough to raise their families and keep their businesses open,'''' the president declared Friday. That's a hopeful promise but not very realistic one. The unemployment cannot be tackled by building new bridges and buildings and spending on university and NIH sponsored research. And it shows that, for the time being, action to tackle record budget deficits will simply have to wait.

Obama, appearing at the White House Rose Garden on Friday three hours after the jobless numbers were made public, said his administration was looking at additional spending for roads and bridges and energy efficient buildings. Additional tax cuts for businesses and steps to increase credit for small businesses were also on the bill. But that will not help. What is needed is a complete halt in imports of all kinds, all goods and services for atleast five years.

People will call it anti-trade policy. But Mr. Obama, that is the only way America can get out of this stealth depression.

More than 15 million Americans are out of work and 3.5 million lost their jobs this year
Fred Day
They do not call it a depression, it is far worse than a depression because another 150 million Americans are deeply underemployed.
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