Santelli: 6 Million Will Lose Unemployment $ in February...
Rick Santelli had a short spot on CNBC this morning
where he had the time to share just one quick sound byte
from the floor of the CME, and it's an important one.
6 million Americans will lose their extended unemployment
benefits by mid-February. These people were caught in the
first wave of the massive layoffs and job cuts during
the market meltdown of 2008.
And in each successive month, millions of additional
Americans will lose their unemployment benefits.
Of course, most of these people will no longer show up
in the "official" unemployment stats, as they will fall
into the abyss of discouraged workers, and those no
longer looking for work.
But it's not the economic data that matters. It's what
the data means. It's where the data is going to take us
as a nation. It's about socionomics.
It's something the government has been preparing for,
but the general public has not.
Here's where it's going to take us...
"When people lose everything,
and have nothing more to lose,
they will lose it."
-- Trends Forecaster, Gerald Celente
The reason this phenomena is so important, is because so
many Americans no longer have a safety net to fall back on.
I posted this study from Met Life Insurance a while back.
And I think it's a good time to take another look at it,
because if the U.S. economy has another wave down, it's
going to be brutal, and will have socio-economic
implications the general public is unprepared for.
-- 28% of Americans only have cash on hand to cover 2,
or less weeks of expenses.
-- 50% of Americans don't have enough cash on hand to
cover more than 2 months of living expenses.
-- 29% of Americans making over $100,000 per year, have
less than one month of living expenses in cash on hand.
-- 64% of Americans feel they would lose their home,
if they lost their job.
-- 53% of those earning more than $100k per year have the
fear of losing their job (note: as of Q4 2009, 25% of all
new job losses are from people who were earning $75K +).
The U.S. economy and the American people are going to face
two powerful negative trends that will reach critical mass
in 2010.
1. Falling tax revenue and the financial collapse of
state and local governments.
2. Millions of Americans falling out of the social
safety net, and the resulting social, political, and
possible civil unrest.
And this is going to occur into an environment where
those who still have jobs, are going to politically
fight government tooth and nail, to end the bailouts,
backstops, and any further stimulus spending.
And it won't just be internal political pressure, it
will be external pressure from the Chinese, the G-20,
the IMF, and the financial markets as well.
Sadly, just as the economic crisis really begins to
gain traction and finally kicks in the front door
of Happy Town, USA, with millions of formerly working
middle class Americans suddenly finding themselves
jobless, homeless, and hopeless -- there will be
tremendous internal and external political pressure
not to bail them out.
Unless the Fed defies both internal and external political
pressure to print more money, there is no money left to
bail out states and local governments, or to extend the
safety net to millions of working middle class Americans
who really need it, because the banksters already drained
the US Treasury of $23.7 trillion dollars and broke the bank.
And the bankers knew this would happen - that America
would grow tired with the bailouts, and impatient with
stimulus plans that only grew bigger government, not
the economy.
That's why they scooped up all the money first. And now
when main street, working, middle class America is really
going to need it, neither the political support, or the
money will be there.
America is going to face some incredibly difficult choices
in 2010.
A primary plank of Marxism and socialism, is that before
you can change society, first you must completely destroy it.
And debt is a far more dangerous weapon of mass destruction to
nation states than are nuclear weapons. And it doesn't destroy
infrastructure, and natural resources the banksters can later
privatize and loot.
This is about the social re-engineering of man and society.
It's about UN Agenda 21:
"Effective execution of UN AGENDA 21 will require a profound
reorientation of all human society, unlike anything the world
has ever experienced - a major shift in the priorities of both
governments and individuals and an unprecedented redeployment
of human and financial resources. This shift will demand that
a concern for the environmental consequences of every human
action be integrated into individual and collective decision-
making at every level."
If you read the public writings of the globalists, you already
know that they have chosen a Soviet style, post-democratic
form of government. And you only need to look at the post-
Lisbon Treaty EU government to see it.
Collectivism, not capitalism will be their socio-economic model.
Total dependence on a totalitarian, Soviet style (rule by
unelected councils & czars) authoritarian government is being
rolled out in both Europe and the Americas. And it's being
done in slow, gradual, and incremental steps...
Just like Kitty Werthmann told you in her story on how
Hitler seduced Austria into Nazism, with bold promises,
and slick oratory (sound familiar?).
Message 26254593
And remember her words...
"The whole thing was almost unbelievable; that you can feed all
this to the masses, little by little and no one would object."
Just like boiling a frog
America is facing it's final opportunity to take back
it's government from the international bankers, the
corporatists, and the military-intelligence complex.
Congress has given the Fed a $4 trillion dollar credit line,
they snuck in an $800 billion dollar blood transfusion to
Fannie & Freddie in the dark of night over the Christmas
holiday. And Obama just granted Interpol (the private police,
and intelligence arm of the international bankers) immunity,
and is convening "a council of governors" where he is merging
the control of state governments, FEMA, Homeland Security,
and the US Military, under his virtual dictatorial control,
in what can only be interpreted as the implementation of
the super-secret "Continuity of Government" plan, that
has been kept from even the eyes of Congress.
Watch this video on the plan kept secret from Congress:
youtube.com
The U.S. government obviously knows something it's citizenry doesn't.
It knows how it's going to respond to the two crisis' I've noted
above, and it knows how Americans are going to respond
to their decisions.
The U.S. government is preparing for something that you aren't.
Unlike the Great Depression, we no longer have an
agrarian economy. And the family support structure that
existed in the 1930's no longer exists, as we no longer
have multi-generational living arrangements, and family
members are often separated by thousands of miles.
While the US economy on the surface appears to have based,
there's been a benefit from government spending that will
shortly come to an end, and much of the positive economic
news has not been from consumer demand, but merely from
restocking the shelves of a "just in time" economy.
Insiders on Wall Street have a behind the curtain read
on the economy that you don't, and they've continued
to dump stocks for 9 consecutive months into a rising tape.
For the insiders on Wall Street, this isn't about optimism
vs. pessimism, it's about reality. And Main Street America
is about to get a double dose of it.
SOTB |
