Wednesday, January 26, 2011

6% Unemployment by 2017 as a nationwide average

http://finance.yahoo.com/news/4-Key-Predictions-2011-Budget-atlantic-1159725107.html

Above you can paste the source article that I'm talking about or the previous Blog I wrote concerning quotes from this article at:

2011 Budget Key Predictions from Budget Report

As I thought more about this Budget Prediction report from the Government regarding where this likely is all heading it made me think a lot more about what my parents and grandparents said about the Great Depression. Since I wasn't born until 1948 I did not live through it or World War II. And I would say from what my relatives have said that "You can't really make sense of the Great Depression or World War II separately. They both were a part of the same thing worldwide.

By 2017 we will have been having economic problems continuously since about 2007 (ten years). Longer if you start the problems with 9-11-2001. Then you would have to say 16 years of economic problems.

However, to be realistic if you study other recessions, no other recession comes close to this one since the Great Depression. So, in history books 20 to 30 years from now I think this Great Recession will more than likely be come to be known either "The Second Great Depression" or "The Worldwide Great Depression" and the 1930s Depression might be called, "The U.S. Great Depression". However, since World War I directly led to the Great Depression and World War II in almost every way it is important to think about all that as well.

I don't think any one person is to blame for this Great Recession we are now in Globally. I think the blame has to be spread amongst all educated people worldwide and what I would call "Shortcuts to Wealth". Whenever too many people take a shortcut to wealth through what I might call legal Gambling worldwide, someone is going to have to pay for it sooner or later. So, now I would say over 90% of the people on earth are now paying for the last 60 to 70 years of worldwide actions of the top 10% wealthy people worldwide. However, it is important to note that all adults either directly or indirectly since World War II are equally responsible for this Great Recession here on earth whether they fully realize it or not. 

No comments: