50 Million and Counting (A reprint of Vol. XX, Art. 17 … August 8, 2009 – Two years ago today)

We need jobs.

“NEW YORK (Reuters) – The percentage of U.S. homeowners that owe more than their house is worth will nearly double to 48 percent in 2011 from the 26 percent at the end of March as home prices continue to fall, Deutsche Bank said on Wednesday.

“Home price declines will have the biggest impact on ‘conforming’ loans that meet the underwriting guidelines of Fannie Mae and Freddie Mac, the bank said in a report.

“Of those conforming loans, 41 percent will be ‘underwater’ by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said.”

We need jobs – about 50 million of ’em.

“(The Washington Times) – Government study: Climate bill spells gloom for jobs. Despite President Obama’s prediction that it would create new jobs, the climate change bill passed by the House will mean fewer jobs by 2030 than if Congress did nothing at all, according to the first comprehensive study of the measure by the Energy Department’s Energy Information Administration.”

We need jobs – about 50 million of ’em.

“NEW YORK (Reuters) – The U.S. service sector contracted in July at a faster pace than in June, adding to worries that any economic recovery may still be a long way off, according to a report released on Wednesday …

“‘There is a clear lag in the recovery in the services sector, which reflects the anemic consumer part of the economy,’ said Richard DeKaser, president of Woodley Park Research in Washington.

“The services sector represents about 80 percent of U.S. economic activity, including businesses such as banks, airlines, hotels and restaurants …’This is not good news for the labor market,’ DeKaser said.”

We need jobs – about 50 million of ’em.

Only once in our nation’s history have 50 million jobs been created and that was when the WW2 Emergency Shipbuilding Programs were set up. Those massive efforts brought an end to the Great Depression even before WW2 was brought to a successful conclusion, but all we hear from our elected officials is “climate change – health care – stimulus packages”, and other such nonsense.

We need jobs – and only an Emergency Shipbuilding Program can create 50 million of ’em.