I am dreaming of a bright U.S.
Just like the one I used to know
Where jobs aren't missing
And bankers listen
To hear their Fed funds start to flow.
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For over four years now, the United States has been on a financial roller coaster. Outrageous amounts of overwhelming debt has consumed a great number of individuals and corporations. Thus leading to a crash. Profits were and still are too low to sustain business as it was. So where does repair start? By cutting the bottom line.
The bad news is, the bottom line included millions of American's jobs. As of October 2010, there are an estimated 14.8 million Americans without a job. It has been said that there are about 2 million jobs available at that time as well. If you do the math, it seems as though no matter what we do, there is no hope. Even when all 2 million positions have been filled, there will still be over 12 million people with no job.
The unemployment rate in November rose to 9.8%—its highest level since April and close to the 10.1% recession peak. Fully 6.3m people have been out of work for more than 27 weeks. Many of these workers are now cycling off federal emergency unemployment benefits.
For the United States to catch up, it will take massive political reform, government budget cuts, and ultimately corporations need to see growth to increase hiring so that many of the unemployed can find jobs again.
However, the likelihood of this happening sooner than later is slim. Therefore, as an American citizen you need to sit back and see what you can do to start making a change. If you are one of the millions who has lost their job, there are options for you beyond just collecting benefits from the government.
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People who have dreams of financial freedom, control over their situation and the ability to be the employer rather than the employed, are the ones who hold the key to reformation.
Some people will argue that starting a business during a recession is a risky move. The key is to start a business that is somewhat recession proof.Some businesses can capitalize on the situation by offering products and services that are recession friendly.
For example:
While real estate sales plummeted, the market for remodeling went up. People would rather put money into what they already have, rather than invest in something that may depreciate beyond recovery.
So be creative, especially in providing the services and products that can help other people to go through this financial turmoil.
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