Boy, it sure looks like America is the frog in the pot of water and the big boys in Wall Street are turning the heat up quicker and quicker each day. Will we jump out of the pot?
Here’s my take: Not as long as we trust the bought and paid for politicians in DC to keep us safe from the looting.
Post 9/11 Veteran Unemployment Up
The Bureau of Labor Statistics just released their unemployment data with a surprising trend.
According to the report, all veteran unemployment is down. However, when separating older era veterans from Post 9/11 veterans, there is a surprising increase.
This is really the tip of the iceberg – and the Titanic that is America is charging full steam ahead. What direction we’re headed remains open for debate.
National: 7.3% (down .1%)
All Vets: 6.2% (down .2%)
Post- 9/11: 10% (up 2.3 %)
90 million Drop from Labor Market
The real shocker was the number of able-bodied Americans who have totally dropped out of the labor market, according to the Bureau.
It reports that Obama’s economic and employment policies can own a new record that happened on his watch. Last month, over 90,000,000 Americans reported they were not participating in the labor market.
This number has climbed by almost 10 million American’s since Obama’s inauguration (9,966,000).
The report indicates that many factors could be causing the increase, including the number of Boomers stepping out of the market due to retirement.
However, one wonders where the retirement is coming from given that most Boomers lost their proverbial shirts in the 2008 crash.
Now, many of my friends who are in that age bracket are still working trying to earn back what they lost.
Bond Market Bubble could Kill Employment
As the future unfolds with the bond market tanking, veterans and the rest of America can count on higher unemployment rates as cheap lending dries up for US employers and governments.
That’s right. The US was riding a 30-year high for the bond market. Money was cheap to borrow. Companies and governments were riding high on the hog, spending beyond their means. Now comes a reality check.
What happens when a country relying on debt can no longer borrow through a cheap bond market?
To read a little more on how the bond market actually works, I found a couple posts from the guys over at Zero Hedge: