AMERICA IS LOSING HER PLACE AS THE GREAT NATION.AS JOBS LEAVE HER SHORES NEVER TO RETURN HER PEOPLE ARE BEING PUT INTO A MORE DISSATISFIED STATE.WE SEE THE GREAT WEALTH HEIST OF THE 21st CENTURY AS AN UNPRECEDENT AMOUNT OF WEALTH WAS TRANSFERED FROM THE POOR AND MIDDLE CLASS INTO THE HANDS OF THE WEALTHY WITHOUT PROSECUTION OR SCRUTINY.AS A MATTER OF FACT THE AMERICAN GOVERNMENT HELPED TO FACILITATE THE ACTUAL ROBBERY.
WITH THE DOLLAR’S DECLINE IN VALUE AND AS A STORE OF TREASURE WE ARE LOOKING AT JOB LOSS UPON JOB LOSS. WE LOOK TO THE WESTCOAST AND SEE THE LARGEST ECONOMIC STATE(CALIFORNIA) BROKE.WE LOOK TO THE EASTCOAST AND SEE THEFT UPON SCALES NEVER THOUGHT OF.WE LOOK TO THE SOUTHERN TIP OF AMERICA AND SEE THE COLLAPSE IN TOURISM,FISHING,AND INDUSTRIAL POWER.WE LOOK TO THE NORTHERN TIP AND SEE WHOLE CITIES SUCH AS DETROIT FOLDING UNDER PLANT CLOSURES AND ECONOMIC STRESS.AS YOU LOOK TO THE MIDWEST WE SEE FARMING ALL BUT GONE.REMEMBER THAT A NATION THAT CANNOT FEED ITSELF IS IN SERIOUS TROUBLE.
FOREIGN INVESTMENTS ARE LEAVING AMERICA AT THE SPEED OF LIGHT.FOREIGN PURCHASERS OF U.S. DEBT HAS SLOWED AND SOME ARE CALLING FOR DEBT PAYMENT NOW.THE U.S. IS NOW FORCED TO MONETIZE HER DEBT AS WARS WEIGH HEAVY ON HER SOLVENCY AS A NATION.
THIS IS AMERICA TODAY….”Unemployment Is Much Worse Than You Think
Henry Blodget|Sep. 4, 2009, 2:29 PM|19
PrintTags: Economy, Recession
There’s another disturbing trend in the unemployment data (as if the headline rate wasn’t enough):
In the average recession, most job losses are attributed to temporary, cyclical factors–i.e., when the economy comes back, the jobs will, too. In this recession, however, more than half of jobs lost are gone for good.
PIMCO portfolio manager Tony Crescenzi explains (charts from Bloomberg):
Structural rather than cyclical influences on unemployment are running well above normal during the current recession, as is highlighted by the percentage of the unemployed that are “not on temporary layoff.”
Data from the Bureau of Labor Statistics show that 53.9% of the unemployed were not on temporary layoff in August, up from 39.1% a year earlier and well above the 30-year average of about 34%. The current level is well above the peak of previous cycles, which tended to move above 40% and was as high as 44.9% in May 1992. Many job losses are occurring in industries with broken business models and jobs won’t return quickly. This will put downward pressure on wages.
In terms of numbers of people, data from the BLS show that 8.1 million people were characterized as “not on temporary layoff” in August, up from 7.880 million in July and 3.72 million a year earlier. The not-seasonally-adjusted figure for “Permanent” job losers totaled 6.406 million, up from 3.609 million. These figures represent a very large proportion of the roughly 7 million decline in nonfarm payrolls (the tally on payrolls is produced via a survey of business; the figures on unemployment and both the “not on temporary layoff” and “permanent” job losers categories are derived from the survey of households).
“Does a College Degree Protect your Career? Unemployment Rate for College Graduates Highest on Record.
Posted by mybudget360 in Employment, budget, college, debt, economy, education, government, recession, student loans, unemployment
0 Comments As many students begin applying for the 2010 academic school year, students are looking at an economic climate where endowments are hit, student loans are more restrictive, and parents have seen 529 plans sink along side their retirement plans. The upcoming school year will be highly competitive and expensive but will it be worth it? Now college itself isn’t a direct link to a career and many bristle when they hear about vocational training. Yet when someone is paying $50,000 a year, you have to ask what exactly you are paying for.
With the recent unemployment rate hitting 9.7 percent officially, the wider ranging U-6 rate hit a record of 16.8 percent. The market took the 216,000 job losses as good news but the recession is much deeper than the headlines are showing. If you dig deep into the report, you will find a few curious observations. First, the teenage unemployment rate is the highest in nearly half a century coming in at over 24.2 percent. Now this rate is always high but only in August of 2008, it was at 17.8 percent. Another observation in the report that we find is those with college degrees are facing the highest unemployment in two decades since records started being kept.
With college costs going through the roof and in many cases, costing nearly $50,000 a year at private schools many are asking whether some college degrees are even worth pursuing. Or more importantly, potential students are seeking answers regarding value. Let us look at this trend more closely:
You’ll find a curious trend here. Without a doubt, those with a college degree do better in the marketplace. Take a look at the recession in the early 1990s. A college degree seemed to be a better buffer at that time than our current recession. For the first time in record keeping history, the unemployment rate for those with 4-year degrees or higher has passed the 4 percent mark. Keep in mind that in the United States, only one in four has a bachelor’s degree or higher. We tend to think of this group as largely immune but in deep recessions like this one, a college degree no longer protects you from the fluctuations of the market.
The massive increase in college tuition needs to be explored. If you think about someone going to school to pursue a career in say social work, a noble career, is it really worth it to go into $100,000 to $150,000 in debt for a career that pays $30,000 to $40,000 a year? In a situation like this, a student may benefit by going to a lower priced state school instead of a private institution. Certainly many will go to top schools simply because of the implied pedigree of an institution especially if they want to enter into the top law firms or seek higher positions in certain corporate sectors. Yet many are realizing that too much college debt is not a good thing.
If you think this isn’t the case, just look at how many people are having trouble paying their student loan debt. Red means conditions have worsened and this is for 90+ days late year over year:
If you look at the population centers of California, Florida, Texas, and New York student loan debt has worsened practically in the entire state. Clearly the current economic recession has much to do with it but also, the fact that those with college degrees are losing jobs in large numbers as well. Many are no longer able to service their own debt. As we have mentioned, a college degree does not protect your job nor does it assure you in getting one. Some are even suing because of this:
“NEW YORK (CNN) – A recent college graduate is suing her alma mater for $72,000 — the full cost of her tuition and then some — because she cannot find a job.
Trina Thompson, 27, of the Bronx, graduated from New York’s Monroe College in April with a bachelor of business administration degree in information technology.
On July 24, she filed suit against the college in Bronx Supreme Court, alleging that Monroe’s “Office of Career Advancement did not help me with a full-time job placement. I am also suing them because of the stress I have been going through.”
What I find troubling is the idea that simply attending college is the ticket to a job. Also, what is more disturbing is many of the for profit institutions with no pedigree try to push people through to continue getting those nice loan checks each semester:
“In her complaint, Thompson says she seeks $70,000 in reimbursement for her tuition and $2,000 to compensate for the stress of her three-month job search.
As Thompson sees it, any reasonable employer would pounce on an applicant with her academic credentials, which include a 2.7 grade-point average and a solid attendance record. But Monroe’s career-services department has put forth insufficient effort to help her secure employment, she claims.
“They’re supposed to say, ‘I got this student, her attendance is good, her GPA is all right — can you interview this person?’ They’re not doing that,” she said.”
Good attendanace? A disciplined woker with no college degree can be punctual 2.7 is not an “all right” GPA. The problem now is that we have someone with “subprime college debt” of $70,000 and no viable job prospects. It would be different if they had only say $10,000 in debt but $70,000 is simply incredible. And how many people are gradauting like this into a terrible recession where employers have their pick of potential applicants?
The U.S. Treasury and Federal Reserve seem willing to bailout any mistake so it should be no surprise that students expect bailouts as well. They are simply following the lead of our central bank. It is also a question of what degrees are being awarded. While we had many chasing degrees in finance to pump out paper to increase the housing bubble, globally other nations focused on making actual things:
Source: CSMonitor, 2005
Even after adjusting lower, we can see why things will remain tough. The globe is hyper competitive now. Many entering college now face the challenge of examining what they want to do with their lives but also, dealing with the economics of a new financial age. A college degree was never a guarantee of a job or career security and this will only become a stronger rule in the future.”——————————————————————————————————————————————-“The Fall of America
Destruction of America’s Education
1 The plague of Allah (God) against the educational system of America is something that the philosophers and scientists should look into, as the destruction of America’s education is the destruction of their wisdom to educate the people.
2 There are many who look on the destruction without taking a second thought of the destruction without taking a second thought of the destruction of America’s education. Education is a guide for the people to keep and maintain a civilized life. It is education that civilizes us. Now to see the citizens of America rebelling against the American educational system is something that the wise of the wise should take thought of.
3 The American people actually have come to the point where they hate their own educational system. This means that they are now hating and destroying their civilization because it is education that civilizes people.
4 The American people no longer want their education and they are destroying the very houses that house their text books of education. They are rebelling against their teachers and then they set their houses on fire – schools, colleges and universities. This means in words, as I have said above, that they are destroying their own civilization.
5 The Black people of today who are blindly helping the white people to destroy this civilization are like Samson was in his day and time; he helped to pull the building down, but he was blind to the effect of the destruction of the building. All Samson wanted to do was to get even with his mockers who had put out his eyes and who laughed at him. Samson did not care whether there would be a civilization left behind him or not. He was willing to die, blind to the knowledge of the future of his people and those people he was destroying.
6 Throughout America, her colleges, her universities and her teachers are in danger. The students no longer want old world guidance. It is a new world that they want. But in their mad destruction of the old world they do not know how to prepare for a new world civilization. They do not have guidance for a new civilization, and in their madness they refuse to hear a teacher teaching of an educational system of a better civilization…the civilization of the Black man.: