Unemployment - A Tipping Point?
The official Unemployment rate is 9.4% but digging deeper suggests that the real rate in the US may be closer to 20%
We are well inside the norms of 15% for employment to Tip - for job losses to cascade affecting housing and credit and in the end society itself.
This is not your grandfather's unemployment!
If the real rate is close to 20% - what is the impact? Most Americans are 3 pay checks away form being on the street. How do millions come back from that? Most cities and states will surely follow.
The new Flat World - has shifted millions of jobs offshore that will never return. At first these were blue collar jobs. But now they include most white collar jobs too.
The middle class is now structurally jobless. Where are new college grads going to get work?
Local Food - Local Energy and in the end a local financial system.
clipped from: smartpei.typepad.com