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Tuesday, August 23, 2011

This Is Really Serious!!

If you have been following this rant, you know that there is a huge amount of evidence that the U.S. is becoming a Two Tier Economy, and I have tried to share some of this evidence with readers.  But there is also growing evidence that it is becoming a Three Tier Economy.  That is to say that we are creating a group of people who no longer work, or never will work.  You know about the six million Americans who have been unemployed for a year or more, but what we need to look at is the other end of the problem, that is young people who do not have, or cannot get, a job.  Look carefully at this graph from The Economist this week.

Note the heading:  No job and not in school.

Now here is the scary part.  There are 23 million Americans between the ages of 16 and 24.  That means that almost 3 Million young Americans are destined to permanent joblessness!!!

Now think about what has happened in the U.K. in recent weeks.  Could that happen here?  And why not?

So here is the math.  There are Six million older Americans who no longer can find jobs plus Three million younger Americans who cannot get jobs.  Now try to figure out how the Paul Ryan, Eric Cantor, Rick Perry and the Michele Bachmanns of the Republican Party are going to deal with this very, very significant portion of the population!  And then think about how this new Third Tier takes out their frustration.

I lived through the Watts Riots and the Rodney King Riots.  Trust me, it ain't pretty.

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