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Millions Seek Work: Financial Industry Seeks and Gets Trillions

Posted on April 11, 2009
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By Kenneth J. Theisen
 
You do not have to look far to see that something is drastically wrong in this country and the world. Over the last year or so, the financial industry has sought and received trillions of dollars in government loans, guarantees, and outright cash payments. At the same time, millions of Americans and tens of millions outside the country have been thrown out of work by the everyday workings of capitalism. Over a billion workers outside the U.S. live on under a dollar-a-day.
 
On Thursday, April 9th we saw a manifestation of what this means for real people. Over 10,000 people came looking for work at a New Hampshire college gymnasium. There were traffic jams for miles around the college and the job fair organizers had to stop admission to the fair after just two hours. Among the jobs these thousands were competing for were openings at local hamburger joints that paid minimum wages. 
New Hampshire‘s unemployment rate was 5.3 percent in February. Many states have rates much more than that. The current national rate is 8.5%, but this official rate does not include people who have given up looking for a job because they can not find one or involuntary part-timers. It also does not recognize the hardships forced on workers to take unpaid furlough days, or those who are now paying additional costs for health care and other necessary expenses that were previously covered by employers.
 
But please do not worry. At least a few will benefit from those trillions given to the financial industry. The money will help provide for bonuses for those who got us into this financial crisis. Isn’t capitalism great?

 

1 thought on “Millions Seek Work: Financial Industry Seeks and Gets Trillions”

  1. Anon5 says:
    April 16, 2009 at 12:20 pm

    Bush started this shit and Obama’s goal is to continue and grow it until all of us are extremely poor!!! WHERE IS THE REVOLUTION?!!!!!!!!

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