At first, I wanted to write about the number of people receiving unemployment benefits is at record pace--the worst since 1967.
Then, I was going to mention how foreclosures hit new records--and prime mortgages were affected because of increasing unemployment.
As unemployment lags recovery, foreclosures will also likely continue into 2011, according to the Mortgage Bankers Association's National Delinquency Survey.
I also wanted to write about how the Wall Street actors sit on Capitol Hill--which I may write about at another time.
However, I came across JimQ's blog--The Burning Platform and an article that states everything exactly the way I see it and, frankly, I could not express it any better than him.
Jim Q has a Masters of Business Administration from Villanova University. He also holds an accounting degree from Drexel University and is a Certified Public Accountant so this financial professional is no chump.
He eloquently states this whole economic dilemma and the frustration for anyone that can see clearly through the "smoke and mirrors" of this economic crisis.
That said, I might replace some things in his article. For example, "good and evil" with "ethical and unethical" or "decent and indecent," respectively.
I would also say that universal healthcare, despite costs, can be a good thing if we weren't in this horrible deficit we are in now. Jim might not be in favor of universal healthcare.
But, again, this is a minor point because handling the economic mess we're in still stands as priority number one and I, too, am tired of panic czars as well as the smoke and mirrors.
Here's a link to his article. I think he nails it.
http://theburningplatform.com/economy/aint-no-rest-for-the-wicked-1
Enjoy.
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