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Unemployment to finish off the economy

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posted on Jun, 4 2009 @ 04:29 PM
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I was reading an article here USA Today in which the article says


While 13.2 million people were unemployed in March, approximately 5.8 million were collecting unemployment benefits at the end of the month


So what crossed my mind is will the more people that are unemployed and collecting benefits actually create a double strain on the economy? One from being unemployed in the first place and two from the added drain of collecting benefits? As the number of unemployed increases wouldn't this start having a multiplying effect. Didn't see if this was discussed before and might very well be in the wrong forum but would like some insight to this from people more knowledgeable on this.




posted on Jun, 4 2009 @ 05:01 PM
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I heard that if California goes bankrupt all of the citizens recieving government money will be cut off, then the federal government will take over California the same way as GM and other bail outs and any state getting backed by the federal government surrenders it's right as a sovereign state. California has like the 8th largest economy in the world if the fed is going to throw California in the ocean, then we have got some bigger problems.



posted on Jun, 4 2009 @ 05:44 PM
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Originally posted by 12.21.12
I heard that if California goes bankrupt all of the citizens recieving government money will be cut off


If this happens, what's going to happen to all these people.

All of this time, the government is spending millions a day on the military.

Unbelievable.

Yet, it is happening.

Unbelievable.



posted on Jun, 4 2009 @ 06:16 PM
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Usa today had another story in it that basically stated that one in every 6 dollars of american's income is coming from gov't benefits.

ummm......seems to be a double, triple or even quadruple wammy to me...
unemployed people are more likely to collect the benefits...
unemployed people are more than likely paying less taxes...
unemployed people will more than likely spend less....
and well, unemployed people are more likely to default on their debt...

all of which, just makes the problem harder to handle.



posted on Jun, 5 2009 @ 10:45 AM
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reply to post by star in a jar
 


No where good fast. Rioting and looting maybe?

Somebody should check to see what Fema has prepared, California is suspected to be bankrupt within two weeks.



posted on Jun, 5 2009 @ 10:48 AM
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Unemployment is an insurance and I would think it would be funded. In Michigan thats the way it is and can't run out of money.



posted on Jun, 5 2009 @ 10:48 AM
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It has a name but the government and the markets doesn't want to give it a name, The Job Market Collapse

I have a thread on the issue.

www.abovetopsecret.com...



posted on Jun, 5 2009 @ 11:00 AM
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reply to post by marg6043
 


Yeah I came to the conclusion this morning. The US is done for it has gone kapoot. The only thing keeping us inline is hope for change. Obama has given us everything but change, we are headed the same direction we have always been since 9/11 and now that Obama has given Israel such an ultimatum while US is most vulnerable, world war and conflict is imminent. There is a conflict at home with mexico, perhaps the US and Mexico will be at war as the governments fall apart and another part of the plan for NAU.

The US is so much in debt that our land will become the subject of other nations, in the end it would be divided up.



posted on Jun, 5 2009 @ 11:07 AM
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Unemployment is a dirrect boost to the economy. The money is spent and not saved. Grocery stores especially benefit from high unemployment rates. All of this money comes from the state and not the federal level so even if the state bankrupts, the gov still is not effected like you would think it is. And you still have to pay taxes on unemployment, so the feds still get paid, no matter what.



posted on Jun, 5 2009 @ 11:09 AM
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reply to post by Darkblade71
 


That is the problem... the federal government is not effected by any of this. They are starving their own people to gwet what they want.



posted on Jun, 5 2009 @ 11:11 AM
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reply to post by Darkblade71
 


I agree to an extent. Unemployment will let you pay for groceries, rent, and utilities. Not much else. Maybe you will be able to squeeze out your car payment from one.

Thus, no more going to restaurants, buying goods, traveling, entertainment, even paying your credit card debt.



posted on Jun, 5 2009 @ 11:13 AM
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reply to post by Darkblade71
 


"And you still have to pay taxes on unemployment, so the feds still get paid, no matter what."

I don't know if it differs from state to state, but in my state you can voluntarliy have taxes taken out. Otherwise you get hit with it all at tax time.

Now, If I am squeezing every dollar to survive on unemployment, do you think I will have a nest egg to pay taxes come Apr 15th?



posted on Jun, 5 2009 @ 11:18 AM
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reply to post by Darkblade71
 


For every unemployment collecting citizen is perhaps one or two that no longer qualify for unemployment or that never had unemployment benefits to begin with.

That is counterproductive to the states and the nations welfare services.

As the unemployment that doesn't qualify for benefits hit government services this will impact the budget at the federal level.

So while the claim is that 6 million people are now unemployed the statistics are more like 13 million.

But as usual when the Federal government deficit becomes to the point that unsustainable is not even the way to name anymore the US will default on its debt and the debt will be erased.

The question is how our trading "partners" and holders of debt will react to it.



posted on Jun, 5 2009 @ 11:21 AM
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reply to post by wclv13
 


Thats why I would recommend that everyone has thier taxes taken out of thier unemployment when they get it instead of waiting until tax time. I just had to file for unemployment a few weeks ago, and had it taken out with each payment. Luckily, I got a job the next day so I didnt have to go on "unenjoyment" Although, I probibly should of waited a couple of weeks so I could enjoy some of the awesome weather we are having in Southeast Alaska. Speaking of which, where I am here, the economy is based on the fishing industry and is self sustaining. Anyone looking for work should move to Alaska, there are more jobs than there are people here.



posted on Jun, 5 2009 @ 11:26 AM
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"Thats why I would recommend that everyone has thier taxes taken out of thier unemployment when they get it instead of waiting until tax time. I just had to file for unemployment a few weeks ago, and had it taken out with each payment."

Then who do I not pay? The power company? My gas card so I have gas to look for work? (or bus pass whichever may apply)

Congrats on finding a job so quick



posted on Jun, 5 2009 @ 11:32 AM
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reply to post by wclv13
 


Better the power company than the IRS when they come around. I understand that its hard when you get about half of what you were making, and corners have to be cut somewhere, but messing with taxes is gonna hurt in the long run if you cannot pay them. They will get you for it, and when they do, its worse than a rabid dog attack.

The IRS can totally ruin a persons life. These are hard times for sure, and only two things are certain, death and taxes. There are no easy answers.



posted on Jun, 5 2009 @ 11:37 AM
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reply to post by Darkblade71
 


I still don't understand why the american people have not rejected the FED anyway and not accept their money and demand something that retains it's value. If the people would reject their money, this would all end.



posted on Jun, 5 2009 @ 12:00 PM
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reply to post by 12.21.12
 


Well because compaired to most places, we here in the US have it pretty good. Where I am, people still do the barter system for a lot of things. There is a lot of trading going on.

But you know? If it gets as bad as some people say it will, you might just see a rejection or rebellion. I personally don't think it will get that bad, the economy will recover and people will go on being happy with the status quo.

I think there are going to be much bigger problems to worry about in the near future. Unemployment is nothing compared to the possibilities the world faces in the next 100 years.

In WWII there were victory gardens and everyone recycled etc. People probibly should try to get back into that frame of mind, it would help so we are not as dependant on the all mighty dollar. Will that happen? I doubt it, but I can hope, and I do.



posted on Jun, 5 2009 @ 12:12 PM
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Originally posted by mikellmikell
Unemployment is an insurance and I would think it would be funded. In Michigan thats the way it is and can't run out of money.


Same here and to add to that you can not withdraw more than you have paid into it in my state. So very few people are on or use unemployment I'm guessing it must be a state thing.



posted on Jun, 5 2009 @ 12:20 PM
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reply to post by Darkblade71
 


Most of the people now collecting in the lower 48 are on Federal extensions now. In the next month in just this state 30% of those now collecting are going to run out of those extensions and some are already have. They are not being counted now by the Fed and the stats quoted today by this administration are false!

Zindo



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