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karen gillen by satinpetticoats
Time for an economic rant.

1. Mortgage rates are at an all time low. 4.58% That was the employee discount rate I was offered two years ago to get one. Now the employee rate is 2.98%. Yet houses sit unsold for years. Why? Because the banks aren't lending. Why? Because the government keeps "doing good for the people" by rehauling the entire banking system. That costs money. Time. The banks lose profits so they tighten their wallet and lend less so no one gets mortgages for these homes.

2. Congress/Senate are moronic this year. They didn't extend the unemployment benefits or any of the tax credits. So that means less money to the people so they spend less money in retail stores.

3. Unemployment is staying the same, yet payroll is changing and so is the number of people leaving the workforce. 600,000 people just gave up looking for work in the past year. This also doesn't count the homeless people who cannot be on these benefits because they have no checking/housing/prospects for job. This means that unemployment is actually going UP but there are less people qualifying so it just looks the same. Payrolls cuts means people are having their hours and wages slashed without being fired. Neither is good for anybody.

4. Gas prices are increasing again. Thank you, BP.

5. People's fields are shrinking. In my low paying call center job I am now sitting next to two men who are electricians. They are used to making twice what I am but this is what unemployment gave them. A job answering phones is so relevant to your electrical career.


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