Last week, our leaders of the Western World were shocked, shocked that the number of Americans who wanted to work but couldn’t find a job increased in June, slamming our already fragile economy.
How can this be? According to our government there are jobs out there if people really want to work. The only logical conclusion is that our leaders live in a different dimension than the one we live in. They continue to ignore the fact, and it is a fact, that their demolition of the housing market has left our economy in tatters and will continue to affect the employment numbers.
Turning their backs on the housing market initiated a domino-type tumble that has yet to stop. Let’s start with the obvious: No more trucks barreling down Interstate 10 piled with construction stuff and filled with workers, eager to get to their destination to help build a new subdivision or mall. Tile, granite, marble, appliances, and furniture distributers have scaled back or closed up shop. Ma and Pa restaurants, many of which have been in business for decades, shut their doors. There is not much of a demand for architects, commercial developers and, dare I mention, home builders.
The tentacles are far reaching: New graduates with degrees in once desirable fields of city planning, social work or law enforcement are finding with all of the government cuts, jobs are scarce.
And please, feel free to write your own paragraph on the employment fields that no longer need your life-long skill set.
So what is a country to do? Why, ignore it of course! Our American Financial Guru’s continue to offer rock bottom low rates to the big boy banks so they can spend the money on their toys, like credit derivatives and other risky investments, to keep their bonuses at the level to which they have become accustomed.
Our Leaders continue to refuse to mandate that the Banks offer real options for homeowners to keep their homes (instead of the past pretend programs). FHA introduced a program last week allowing for up to twelve months of deferred house payments for those out of a job. But it is another volunteer program for lender participation. Why not lower principal balances and payments for current underwater home owners? It would free up money to spend in the economy. But that would not help the banks continue their march for world monetary domination.
The restriction on families who short sold their home and making them wait long years is ridiculous. Reduce it to one year and let them re-enter the housing market. Another suggestion is to reinstate a purchasing incentive for first time home buyers.
Many of the foreclosed homes are going to out of country cash buyers. It that what our leaders want, houses owned by foreign investors?
But again, our government continues to talk around the employment and housing issues hoping it will just go away. Is Hope the new strategy for economic solutions?