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We are not safe; the Great Recession has left gaping wounds. High and long-lasting unemployment represents a risk to the stability of existing democracies.

September 15, 2010 9hamsayeh.net) - The IMF’s chief now believes the global labor market is on the verge of a great upheaval after massive job losses and unemployment caused by the ongoing recession that began in 2008 after the burst of a real estate bubble.

‘The labor market is in dire straits. The Great Recession has left behind a wasteland of unemployment,’ says Dominque Strauss-Kahn chief of the IMF at an Oslo conference held by International Labor federation (ILO). Staruss Kahn’s confession on job market echoes similar predictions by economists warning of an imminent threat to social security and democracy in the West. Khan said, ‘we are not safe; the Great Recession has left gaping wounds. High and long-lasting unemployment represents a risk to the stability of existing democracies.’ 

Like other leading economists, Strauss Kahn predicts a dire employment situation ahead with the potential to get even more nasty leading to social unrest amongst unemployed masses. He said, 'a double-dip recession remains unlikely but stressed that the world has not yet escaped a deeper social crisis.'  The sheer length in the period of unemployment, which is more than 12 months, is a contributing fear factor.

Many skilled workers have lost their sources of income and they may never again find suitable employment. Also, a vast majority of what’s known as Baby Boomers, or those over 50 years old has stopped spending because of economic uncertainties. Baby Boomers are considered a prolific consumer sector that a supposed productive industrial economy such as the one in United States depends on in order to boost its overall productivity.

Apparently, in addition to IMF’s chief, all other members of Obama’s economic team are now fully aware of the economic problems and it seems that they also know there’s no solution to fix the crisis. For this reason, Obama and his elitist camp – as before – would try to extend the crisis by buying more time until things get really out of control.  

Wealth distribution is now much worse than the middle ages right at around the time of French revolution (1789–1799) where a small number of people own-control a large portion of economy and the rest end up with a small portion of the wealth and subsequent poverty.

In Obama's world, wealthy people would be able to afford, health, education, food, savings, home, entertainment and more in contrast to the vast majority who are always busy grappling with diseases, hunger, unemployment, violence etc. Leading analysts and historians now believe that Obama's mission is to simply promote a Zionist-led corporate system as the natural consequence of an unequal wealth distribution.

Tens of millions of skilled workers have permanently lost their employment after the 2008 Great recession caused by neo-cons' casino version of capitalism

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