Sunday, January 2, 2011

the Plight of the Unemployed and Celente's Trends Predictions

this report by Rutgers University offers a very disturbing look at what happens to those people who lose their jobs in the Great Recession. Few find work and those that do usually have fewer benefits (or no benefits) and lower wages.

This trend explains why America's medically uninsured rate is skyrocketing, now past 50 million

This Huffington Post article by Amy Lee reports that nearly 1/5 of Americans not receiving Medicare are uninsured. Nearly 1/3 of those aged between 19 and 29 don't have insurance.

What does all of this mean? Gerald Celente tells us his opinion at King World News

I like Celente's analyses and find his politics refreshing. I think his trend of a "Wake Up" by Americans in 2011 will depend upon gas prices. I've read competing analyses of gas price trends.

Demand for oil has not picked up appreciatively.

Some people think oil prices will go up as the dollar depreciates.

Some people think oil prices will go up with continuing commodity inflation being caused by global speculators seeking safe havens.

Other people think oil prices will go down with ongoing demand destruction caused by ongoing real-estate and unemployment problems.

I don't know the answer. However, if oil prices do go up then there goes any prospect of even the mildest economic recovery. Higher oil prices will ensure a very visible double-dip in employment and exacerbate public finances for states and cities.

I'll be watching and posting what i find....

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