The 1930's Depression caused

Public workers did not lose jobs in the 1930's bank-caused Great Depression.

Back then, we didn't have credit cards.
Real Estate values did not get cut in half.
Property Tax Revenue was NOT LOST by the States.

Banks took over less property then, than they are now.

The Deliberate Rip-off, using the greatly expanded CONSUMER CREDIT SYSTEM with borrowing against Real Estate & Credit Cards, was orchestrated by the Wall Steet BANKSTERS and their Lobbyists.

Read about the Bankster's Con-Game, Click Here.

The only way to keep this from happening again is detailed in the specific solution at:

The Birthplace of Capitalism, England, used Corporations and Military Power to build it's Empire. The economic result is that today the UK is a Nation of Shop-keepers.
The United States with 14 million unemployed is on the same path. Private Enterprise, dba Capitalism, will never recover those jobs.
60 years ago our Economy was 60 percent production jobs and 40 percent service jobs.
Today, we have an Economy that is over 70% service jobs.
The Great Depression was ended by the Gigantic Public Works Enterprise called World War Two.
This Great Recession is a deeper Economic Abyss and cannot be abated by anything but a gigantic government bailout of the States' governments and the National Labor Force.
Without A Gigantic Public Works program, the following is inevitable:

Read about the Solution to States' Problems, Click Here.


By Robert Herbert, New York Times, August, 2009


Shocked by jobless numbers?  Wait 'til you look inside it. 
                      BY BOB HERBERT

New York (Tuesday, August 13, 2009)

Last week was a pretty good one for President Barack Obama. Bill Clinton
helped out big-time when he returned from North Korea with American
journalists, Laura Ling and Euna Lee. Sonia Soto-mayor was elevated
to the Supreme Court. And Friday's unemployment report registered a
tiny downward tick in the jobless rate. 

But for American workers peering anxiously through their family portholes
the economic ship is still sinking. You can put whatever gloss you want
on last week's jobs numbers, but the truth is that although they may have
been a bit better than most economists were expecting, they were still bad,
bad, bad. 

Some 247,000 jobs were lost in July, a number that under ordinary
circumstances would send a shudder through the country. It was the
smallest monthly loss of jobs since last summer. And for that reason,
it was seen as a hopeful sign. The official monthly unemployment rate
ticked down from 9.5 percent to 9.4 percent.

But behind the official numbers is a scary story that illustrates the
single biggest challenge facing America today. The U.S. economy does
not seem able to provide enough jobs -and nowhere near enough good
jobs-to maintain the standard of living that most Americans have come
to expect.

The country has lost a crippling 6.7 million jobs since The Great
Recession began in December, 2007. No one is predicting a recovery
in the foreseeable future strong enough to replace the millions of jobs
that vanished in this historic downturn.

Analysts at the Economic Policy Institute noted that the economy has
fewer jobs now than it had in 2000, "even though the labor force has
grown by around 12 million workers since then."

Two issues that absolutely undermine any rosy assessment of last
week's employment report are the swelling ranks of the long-term
unemployed and the crushing levels of joblessness among young Americans.
More than 5 million workers--about a third of the unemployed--have
been jobless for more than six months. That's the highest number
recorded since accurate records have been kept. 

For those concerned with the economic viability of the American
family going forward, the plight of young workers, especially young men,
is particularly frightening. The percentage of young American men who
are actually working is the lowest it has been in the 61 years of record-
keeping, according to the Center for Labor Market Studies at Northeastern
University in Boston.

Only 65 percent of men 20 to 24 years old were working on any given day,
in the first six months of this year. In the age group 25 through 34
years old, traditionally a prime age range for getting married and
starting a family, just 81 of 100 men were employed.

For male teenagers, the numbers were disastrous. Only 28 of every
100 males were employed in the 16 through 19-year-old age group.
For minority teenagers, forget about it. The numbers are beyond scary;
they're catastrophic.

This should be the biggest story in the United States. When
joblessness reaches these kinds of extremes, it doesn't just damage
individual families; it corrodes entire communities, fosters a sense
of hopelessness, and leads to disorder.

The unemployment that has wrought such devastation in black communities
for decades is now being experienced by a much wider segment of the
population. We've been in deep denial about this. Way back in March,
2OO7, when the official unemployment rate was a wildly deceptive 4.5
percent and the Bush crowd was crowing about the alleged strength of
the economy, I wrote:  "People can howl all they want about how
well the economy is doing. The simple truth is that millions of
ordinary American workers are in an employment bind. Steady jobs
with good benefits are going the way of Ozzie and Harriet.
Young workers, especially, are hurting, which diminish the prospects
for the American family and blacks, particularly black males are in
a deep danger zone." 

The official jobless rate now is more than twice as high--9.4 percent-
-and even more deceptive. It ticked down a tenth of a percentage point
in July not because more people found jobs but because 450,000 people
withdrew from the labor market. They stopped looking, they weren't
counted as unemployed.

A truer picture of the employment Crisis emerges when you combine
the number of people who are officially counted as jobless with those
who are working part-time because they can't find full-time work and
those in the so-called labor market reserve--people who are
not actively looking for work (because they have become discouraged,
for example) but would take a job if one became available.  The tally
from the three categories is a mind-boggling 30 million Americans--
19 percent of the overall work force.

This is, by far, the nation's biggest problem and should be its
No.1 priority.

(BOB HERBERT is a Columnist for the NEW YORK TIMES.)

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HAPedit (June 2009 9:47:43 AM)