|
History says unemployment may peak in 2012. With less than 100 years of comprehensive data, we have insufficient information to predict how well and what will happen due to what Bernanke, et al have done. We do know the economy was on the verge of a complete meltdown. How much less damage could have been done? That is debated. We do know, without doubt, that it could have been massively worse.
We also know the debts incurred to avoid a complete economic catastrophe will appear many years later. A disastrous home mortgage fiasco has yet to be addressed. We do know American fiscal irresponsibility over most of the last ten year will result in economic harm years from now. Economics takes revenge on those who use money games (ie tax cuts, corporate welfare, tariffs).
Large parts of America must be sold to pay our debts. Unfortunately irresponsible parties (ie General Motors) would rather destroy existing organizations rather than admit how little those organizations are now worth (ie Saab, Oldsmobile, Opel, Saturn, Pontiac, Vauxhall, etc).
Spread sheet games from years previously mean job losses or sale of America to others. We don't have much left to mortgage having even converted a government surplus into massive debts (with nothing to show for it). These are the lessons even from Nam. One need only learn why George Sr was so smart as to have the world - not America - pay for Desert Storm. Lessons from history. Now we will learn if a different tack from Bernanke, et al will work better.
Obvious was a crashing housing industry based in money games. Same reasoning says we have yet to see the eventual unemployment numbers. Worse are the number of American jobs that must be filled by immigrants - due to a shortage of technically educated American and a government that has subverted science for political purposes. Things have yet to get worse. The only question is how much. Mild or severe?
|