There is another side to the U.S. unemployment problem: Believe it or not, there are three million jobs going unfilled.
Employers can’t seem to find the right match for more than 200,000 manufacturing jobs alone.
There is another side to the U.S. unemployment problem: Believe it or not, there are three million jobs going unfilled.
Employers can’t seem to find the right match for more than 200,000 manufacturing jobs alone.
Detroit is the largest municipal default in the history of the US.
The city owes $9.2 billion in pensions, $1.9 billion to creditors and is $18.5 billion in debt.
The city’s infrastructure is collapsing. Almost half of its streetlights are not working and aren’t being repaired.
The average time for Detroit police to respond to an emergency is just under an hour. Crime has spiked. Many in the city have resorted to carrying firearms for their personal protection.
The city bankruptcy epidemic is likely to spread around the country, resulting from years of overspending on wages and pensions in order to keep public employee unions happy and city politicians re-elected.
We take a look at 8 U.S. cities on the verge of bankruptcy:
America has become a part-time nation. The Bureau of Labor Statistics recently reported that in June part-time employees in the labor force reached an all-time high of 28 million, 3 million more than when the recession began in 2007.
This Obama economy has soup lines as far as the eye can see. It also appears that many could easily be standing in two, three or even four lines simultaneously!
In 2010 Meredith Whitney made an earth shattering statement during a CBS’s “60 Minutes” interview that rocked the municipal bond investment world.
“There is not a doubt in my mind that you will see a spate of municipal-bond defaults,”said Meredith …
This is not a green jobs story. There are no soirees, no socialites running across the veranda drinking mojitos to hear about the latest, Obama electric car boondoggle.
Although you might think the markets simply respond any time Ben Bernanke sneezes, his “cold cycle” is not one of the indicators that will spell the slowing and eventual cessation of the printing press at the Fed.
There actually is a mathematical formula used by the Federal Reserve to determine when to stop the presses.