With 9% unemployment, there is little hope for getting a job for those who have been out of work over a year. They are losing skills and losing hope. Now the government checks have stopped for over 50% of them.
With an election year coming, Congress may cough up another $45 billion to make payments. This will hurt the deficit figures. But even if Congress acts, at least 30% will still get no checks.
This is a warning: the #1 investment strategy today is to keep your job. The #2 strategy is to get a Web-based business or Saturday business going, just in case you lose your job.
It’s going to get a lot worse before it gets . . . worse.