What is the total cost of unemployment?

Our $17T GDP economy is produced by nearly 160 million workers so the average worker produces over $100K of GDP.

An average unemployed worker fails to produce $100K of GDP. At 5% unemployment, eight million unemployed workers fail to produce $0.8T of GDP.

In the 40 years since Nixon presented Congress with fiat currency, which permits full employment at the level of WW II, idle workers have failed to produce $32T of GDP due to a five percent average unemployment.

While one may object that, in peacetime, zero percent unemployment is impossible, one must also admit that we are ignoring underemployment, which is at least half of unemployment. So, $32T can’t be far off.

Given a minimum cost of labor at $20 per hour or $40,000 per year, eight million workers unemployed for 40 years have failed to produce $12T of infrastructure.

But infrastructure is not just money. It’s the future. It is what we FAILED to give our grandchildren if we had had full employment, entirely possible with fiat currency.

With fiat currency, why do we have unemployment instead of infrastructure? Because Wall Street wants a huge army of unemployed so that it can frighten the working population into submission. Have you asked for a raise lately?

For high unemployment, Wall Street asks Congress for austerity and gets deep cuts for infrastructure spending as well as for assistance to the working poor and the unemployed.

Rich White liberal Europeans and their descendants created our civilization. Now poor White conservative Americans, v****g against their own economic self-interest, have given Wall Street everything it wants because they have been distracted by wedge issues: a******n, affirmative action, amnesty, birth certificates, climate warming, Common Core, death panels, Ebola, equal pay, executive orders, fast and furious, food stamps, gay marriage, gun control, i*****l i*********n, r********ns, school prayers, sharia law, and welfare queens.

So the poor White conservatives have elected a Congress that will give the oligarchs a free hand to game the system, blow it up, capitalize the gains, and socialize the losses.

And Wall Street won’t stop sucking it in until it has privatized Social Security, Medicare, the land we tread, the water we drink, and the air we breathe. The private sector will lose its tableware and rent forks and spoons for the duration.

First, the White trash gives their country to Wall Street. Then they want to take it back.

Will they ever learn?

Good thing the majority of americans do not think like you....because romney/palin would have really fucked this country up....see the article about the economy and how this president has done great between you f-king obstructionists and the schitty economy he inherited...his ratings are going up but the GOP b***hing and lysing is slowing the upward movement......republicans could give a less about america or the middle class and poor....their loyal following gets fucked and a dem has to bail the country out....but you people did not trip out on Clinton the way you did with the "black guy"..you all went really bonkers......reminds me of the reaction the w****s gave in David chappelle's "black w***e s*********t" skit when he was doing his klan speech in front of the "true americans" (sigh)...and took off his klan pointy hat to reveal who he was..the w****s flipped out, threw up, covered their women's eyes. One guy's head even exploded....