Time Magazine online is running a story concerning unemployment among construction workers standing at over 24% of that specific workforce. FDR must be doing flip-flops in his grave. Regardless of defecit dangers, if there is not massive government control over this out-of-control pure capitalism at work (I should say “at rest”) very soon, we could have massive social unrest. At some point people want action.
This may be “an economic adjustment” for a capitalist or economist but this is a life changing nightmare for a carpenter, dry waller, painter or foundations man or woman. The Southwest is particularly hit hard by this “downturn”.
Is the defecit a problem? Absolutely. Can we handle it? It will take a generation for us to straighten this out, but we can do it. But, without a population able to find work, Communism comes back on to the American scene like it did in the 1930s and bitter labor disputes become bitter social unrest.
We are not above that kind of labor-war violence once the desperation is so thick one can cut it with a steak knife. This is not something to ignore.
Tell me again. Why are we spending hundreds of billions a year on defense? There may not be anything left to defend if this unemployment disaster continues at this pace another three years. Secession really might happen in parts of the country. Who knows?
The piece is entitled The Great Recession: Will Construction Workers Survive?
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