What The Numbers Mean to Main Street

World Bank, Unemployment, Trillions in Spending...
By Bill Glynn

Is there an end in sight? Nope! The news keeps getting worse and these projections made by our government and the guessing game around the world should not surprise us. But what do all these facts and figures mean to us?

Unemployment. Reaching over 10% in modern America is an unrealistic number and equivalent to an American nightmare come true. The figures, as vile as they sound, do not represent all the facts. Underemployed and unemployable workers would paint a true picture and, believe me, it is far worse than 10%. State by state is even a worse picture. This means that a large portion of workers in America and therefore families are being wiped out. In order to pay bills, savings, stocks, mutual funds and 401Ks are getting raided every day. Are these numbers reported? No! We just give Americans the broad strokes to keep our education at a minimum. Remember in the long run the only thing that kept Japan out of a complete national meltdown was the fact that they are a savings nation. You hear that? Even if you were, it's not the case now, is it?

Contraction of growth. The World Bank is right on when it reports the world has become an economically smaller place. People see this and say, "hmmm... the world is suffering a bit too." They may even take solace in that fact. But as the world goes, the U.S. goes worse. If the world can’t consume and we can’t consume, then the writing is on the wall. Yes, more layoffs and unemployment. With that comes more businesses cratering because they can’t sell products, goods and services. Airline solution, for example - raise rates and make it even more unaffordable to travel for those who don’t have the money. Go to Arby’s, for example. Last night I spent almost $20 for 3 roast beef sandwiches and some taters. Find Chache’ Lux for me. Strasburg Kids? Real bargains there. Car dealers, construction - you name it. At least Wal-Mart is hanging in there, but we all know why that is true. [more...]