Record Jobless Claims

A record 5.6 million unemployed hits the financial systems hard, and our economic crisis is turning a severe recession into a deep depression. Sadly, many families will become homeless. The additional foreclosures will cause more banks to go under and fail. Eventually, the US gov runs out of money to bail out banks. It is the lack of jobs that causes people to feel that we are having a hard time pulling out of our downward spiral.

Future life will have to deal with robotics causing unemployment, as well as job flight to low wage venues. The problem we face is that you can replace a $50,000/yr in US with a $5000/yr from India. There is going to be little demand for high wage jobs in the future.