Economic Nostradamus: We Are Literally Witnessing a Collapse

Economic Nostradamus: We Are Literally Witnessing a Collapse ;...In this current recession, we are not even close (to getting the jobs back) and that’s 50 months and counting.

The fact of the matter is that meaningful jobs won’t be returning any time soon. Recent (un)employment data indicates that cumulatively we are losing jobs each and every month. And, those jobs that do become available are minimum wage jobs that are insufficient to offset the income loss we’ve experienced since 2008.

The bottom line is that if people don’t have money, they can’t consume to keep the economy going. This leads to a vicious negative feedback loop that forces small (and large) business employers to lay off workers, which takes even more money out of the economy, which subsequently leads to more business closures and cutbacks.