Jobless rate near seven year high

The rising rate of unemployment is blamed on Hurricane Gustav and we have the highest jobless claims in seven years. However, I believe that the real reason is that we are in economic collapse right now. The goal of the government was to pretend that all was well.

Wake up, the banks are bankrupts, the jobs are gone, and our few remaining factories are closing. And all exec do is say "gotta cut costs! Outsouurce! Downsize!" Well, if that was the solution we would be fine. No, that is the problem. Globalization did cause our crisis. All those jobs we lost by moving factories to Red China are the reason people cannot pay their mortgages. No job = no money.

Right now new home sales are at the lowest level in 17 years. We are selling less than a 1/3 the houses we sold in 2005. The economy is in free fall, as in falling off a cliff.