Unemployment

The recession continues to grip a majority of the states. The recovery and stimulus were based on false premises and succeeded only in providing a temporary solution to the housing market collapse. The national jobless rate remains unchanged in July at 9.5 percent highlighting what little improvement our economy has witnessed since last year, when the unemployment rate was 9.4 percent.

Housing price inflation was great for the baby boomer generation. They sacrificed the livelihoods of future generations so they could say “My house makes more money that I do.” Unfortunately, no one ever stopped to ask where this money was coming from. It came at the expense of future generations.

Manufacturing, which is crucial to a prosperous economic future, is waning. The Philadelphia Federal Reserve found that manufacturing activity in the Mid-Atlantic region dropped from +5.1 in July to -7.7 in August.

The era of investment housing in America has ended, and the bubble that was created from these practices has busted. Without a growing housing market, America's need for a strong manufacturing base is now greater than ever.

It used to be that working in the U.S. brought with it certain distinctions and protections that you could find nowhere else. Now, many Americans are being forced to settle for positions they would have rejected just years or months ago.