Henry Mo, an analyst at Credit Suisse, apparently said during a Goldman Sachs slide presentation, the following:
“If all U.S. job vacancies were to be filled overnight, nearly 11 million workers would still be unemployed.”
Think about that.
Now think that the U.S. government pumped hundreds of billions of dollars into state and federal construction projects. Is it possible that what’s happened to create #occupywallst is that stimulus money did not go to the people with educations, who are looking for work, and who cannot find work? Rather than having that money go to public works projects, why didn’t it go to more entreprenerial projects geared at getting well-educated and youthful workers into jobs?
We know that the banks were too big to fail. But why, after receiving so much money, did the financial services sector end up laying off so many people?
The following slide comes from a series of slides that may do much to illuminate those questions with answers that are difficult to stomach. Could it be that banks had to receive all of this money because these banks were shoring up actual countries, whose debt levels were through the roof, and that were incapable of remaining solvent?