tebop opened this issue on Jul 17, 2009 · 27 posts
wolf359 posted Sat, 18 July 2009 at 3:32 PM
The U.S. unemployment Rate is 9.7% and does not even count those
who are NOT filing for benefits and are on welfare etc.
For years many employers have paid salaries with short term "swing loans" and other lines of credit from the money lenders.
Now that such easy credit is frozen due the fact that banks can not sell their debt to the gamblers on Wall Street in the form of "credit Default options " and other "Debt backed securities" that derive their value from the eternal interest paid by the hapless debt slaves who have credit cards and mortgages.
Employers have to face the reality that they can NOT actually afford to hire/pay their employees with REAL money. hence No jobs
The drunken binge of manufactured money ( Credit) is over for now
and now working people who became willing debt slaves long ago are feeling the consequences of their Blindness
This is the inevitable result of a Debt based economy where private banks create money from nothing, "lend" it to anyone who will take it and get the liability( Debt) off their balance sheets by selling it to the gamblers & thieves on Wall Street.
For a full explanation of the Fraudulent nature of the monetary system
see the Digital Comic "RDL7 " in my Signature link.
Cheers
Wolf359
Emancipated Former Debt slave.