Friday, September 2, 2011

No more jobs for Americans

Employers add no net jobs in Aug.; rate unchanged
"WASHINGTON (AP) -- Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010."

No more jobs. Blunt and to the point. Inflation and rising living costs. And the "analysts" say there is a RISK of ANOTHER recession?

The previous recession never left! We are, and have been, wallowing in the same economic sinkhole that started three years ago. It didn't end. It still recedes. And now, with no more jobs, things can and will get worse. Frightening, but yes, things can and will get worse.

Even those lucky enough to be holding jobs are suffering. Wages are DOWN, inflation is UP. The working folks' income simply is not growing at the same pace, which means their salaries are buying less and less, day after day.

Part of the rising costs appears to be a desparate last-ditch effort by State and Fed tax collectors. Higher costs means higher tax revenue which is a percentage of the selling cost, ergo it is in their best interest to allow inflation and rising costs. A short sighted and foolish economic choice.