WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Fed Says Unemployment to Remain High For Years

That's what San Francisco Fed President Jan Yellen says. Now, as far as I understand, double-digit unemployment is a hallmark of European-style Socialism. France and Germany, if I recall correctly, each have endured double-digit unemployment more years than not since WWII.
The economy is likely to experience a “less-than-robust” recovery and remains vulnerable to shocks, as households rebuild savings and unemployment possibly remains high “for several years to come.”
I once heard an interview with some Obama campaign worker who said the entire political arm of the campaign is basically obsessed with European governments. Unfortunately, I don't remember who is was, nor where I heard it. But to him it was a good thing and they were all very excited about it. He didn't use the word "Socialism", though. Again, I believe this transition to permanently high unemployment is deliberately intended by the Obama Administration as a necessary function of their radical mission to "Fundamentally Transform The United States".


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