Some people will soon no longer be on the government’s list of unemployed people. Good news? Hardly – they will run out of unemployment benefits and simply fall off the statistical radar causing evidence of the growing unemployment problem to be hidden. Read more here:
As I discussed some time ago, not teaching children to grow up more self sufficient, to depend on almighty government, is a surefire way to ensure a nation of future dependent adults. now we will have this problem and likely the only way out for them will be for government to create another “WPA” and put people to work cleaning dog poop in public parks or fixing streets. And yes we will borrow even more money to do this, which will likely help ensure that the funding crisis, as Bill Fleckenstein calls it – when our dollar loses credibility and investors are decreasingly likely to buy our debt – happens sooner.
Then you may wish your savings were not so dollar-denominated.