Foreclosure filings in the U.S. exceeded 300,000 for the sixth straight month as job losses that boosted the unemployment rate to a 26-year high left many homeowners unable to keep up with their mortgage payments.That's close to FOUR million foreclosures in 2010, a decided increase from the 2.2 million in 2007.
A total of 358,471 properties received a default or auction notice or were seized last month, according to data provider RealtyTrac Inc. That’s up 18 percent from a year earlier.
Is this what a 'jobless' recovery looks like? Adults, many of whom are parents, out of work, millions losing their homes and no relief on the horizon?
No one, not even lowly paid teenagers, are exempt.
Teen unemployment rises to its highest everWe've been told that the current economic downturn is only a recession that began in 2007. But it appears we have not hit bottom and one of the ways a government can act to stall or negate a recession is to put more money into circulation
The national teenage unemployment rate stands at 25.5 percent - a rate three times that of the adult employment rate. It is the highest level recorded ever since the Bureau of Labor started monitoring teen unemployment rate in 1948.
But the private banking families that own the Fed have already printed up WAY TOO MUCH worthless dollar bills, which is setting us on a path to hyper-inflation, along with the Depression.
That record is going to be upstaged by the 2010 bonuses.
How does it feel to be an economic slave to a bunch of faceless entities that have complete control over our financial situation?
How much funny money has the Fed printed, put into circulation, then removed to create this Great Depression?
No one really knows, except the Fed and those "Too Big to Fail" Wall Street banks, since 2006, M3--an accounting of how much money the Fed has printed up and put into circulation--is no longer published or revealed to the public by the private banking families that own the Fed.
What to do?
Start another war. The Pentagon will always need a fresh stock of bullet stoppers and cannon fodder and the sordid spectacle of the rockets red glare and smart bombs bursting in the air over Tehran will give the sheeple a gladiator contest refereed by Zionist mouthpieces like the slimy 'Lightening Wolf' and that other Israeli broadcast outfit, FOX.
War and possible the threat of another false flag will get our minds off our economic doldrums.
"It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 (The nation's money supply) has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly."
Translation: All that money that the Fed is printing up is being hoarded by those Wall Street banks, who pay interest rates to borrow the money of close to ZERO. They in turn, use some of that fast cash to buy US Treasury notes that pay out a handsome 3% return on the money invested.
Who's left holding the bill for this thievery? The American taxpayer, who are forced to pay the private banking families that own the Fed a princely and GUARANTEED 6% interest rate on OUR money that is loaned back to us.
15 Economic Statistics That Just Keep Getting Worse
More "Good, Double Good" News!
On Friday, August 13, the Bureau of Labor Statistic noted on its home page that “Employers initiated 1,851 mass layoff events in the second quarter of 2010 that resulted in the separation of 338,064 workers from their jobs for at least 31 days.”