The Coming Jobless Recovery

Updated: January 22, 2011

Though the media made a big noise about the recent surge in homes sales in California, upon closer analysis most of the sales were in reality short sales - home owners forced into selling at deeply discounted prices by their mortgage holders.

Fed Chairman Bernanke has predicted that home prices have another 20% to fall before anything like a recovery can come to the real estate market. Those who buy homes now will regret it later! Chances are they'll join the millions of "upside-down" homeowners whose homes are worth less than they owe.

Past economic recoveries have been fueled by an increase in consumer spending but this time it's different. The consumer isn't buying. With prices falling why would anyone want to run out and buy something they don't immediately need? Whatever it is - wait - it will be cheaper tomorrow!

This will be the mother of all jobless recoveries. Lots of increased corporate earnings. Lots of corporate mergers. Lots of happy media reports. But few if any new jobs.

Many of the top economists are now predicting that we won't see any action on the new job front for several more years. That's sad because job creation is the key economic factor for most people. The rest of those statistics are just so much icing on the cake.

Look at Japan. They tumbled into a mortgage mess that left their entire economy in a deep recession way back in the 1980s and now, 18 years later - they're still stuck in a deflationary recession! Will we follow in their footsteps and spend the next few decades wallowing in the economic doldrums?

A collapse in the dollar would cause the price of gasoline and food to more than double literally overnight. That would put downward pressure on the economy and destroy any chance at an economic recovery.

Survive and thrive during the coming bad times. Get the facts - there's no other book like it. Order today!

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