Here are the facts:
“The recession has killed off 7.9 million jobs. It is increasingly likely that many will never come back.”
Excluding temporary Census workers, the economy has added few than 100,000 jobs a month.
Some of these jobs are temporary.
Some of these new jobs are in the public sector, adding to our debt and tax burden. I work in the public sector. I believe I am a nice person doing good things, but I do not create wealth. Someone in the private sector created the wealth necessary to build a great naval ship research & development center and provide me with a job. I am grateful.
"As many as half the people who lost their jobs will have to find something else to do," says John Silvia, Chief Economist Wells Fargo Securities.
Since the start of 2008:
The construction industry has lost approximately 1,000,000 jobs.
The auto industry has lost approximately 300,000 jobs.
The finance and real estate sector has lost 500,000 jobs.
Our working age population grows by about 150,000 people per month.
Therefore, “It would take the creation of 10.6 million jobs immediately for the same percentage of the population to be working as was the case three years ago.”
Current estimates indicate that approximately 25 million Americans are either unemployed or working less than full time because full time employment is not available.
Most economists and financial analysts believe we are heading into a “double dip” continuation of the current recession.
That is why I pray for the unemployed. May God have mercy on our nation.
Source: Chris Isidore an article from CNN Money quoting:
Scot Melland, CEO of Dice Holdings, a provider of specialized career web sites
John Silvia, Chief Economist Wells Fargo Securities
Lakshman Achuthan, managing director of Economic Cycle Research Institute
About the Silver Eagle Experiment
This experiment began several years ago when I received a brochure in the mail advertising silver bullion coins as an investment vehicle. The “hook” was, “We will sell you two silver eagles for the price of one, if you agree to read our special report on silver.” When I saw this, I thought, “I could give one of these coins to a friend who was having money problems as a touch point for her prayers.” I sent her a coin and a notebook with instructions. Every day we prayed that the Lord would grant her wisdom in the area of finance. Every day she made an entry in her notebook.
The initial experiment was extremely successful. At the end of six months, her attitude towards money was radically different. She began to systematically eliminate her consumer debt. She changed some behaviors that were sabotaging her financial situation. Then towards the end of the six month experiment, she was able to move into her own home for the first time in her life.
Finally, when the participants are ready, they will give their coin with a blank notebook to a friend or a family member who is ready to change their relationship with money. In this way, friendship and blessings will keep flowing forward forever, even into eternity.
The initial experiment was extremely successful. At the end of six months, her attitude towards money was radically different. She began to systematically eliminate her consumer debt. She changed some behaviors that were sabotaging her financial situation. Then towards the end of the six month experiment, she was able to move into her own home for the first time in her life.
Finally, when the participants are ready, they will give their coin with a blank notebook to a friend or a family member who is ready to change their relationship with money. In this way, friendship and blessings will keep flowing forward forever, even into eternity.
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