Another few million under the bus
So sayeth the bond market:
Americans may have to get used to unemployment greater than 8 percent for the first time since 1983 and an economy that won’t grow much beyond 2 percent as a consequence of the lost confidence in consumer credit that shattered financial markets.
By this time next year, “the market will realize that potential growth for the U.S. is no longer 3 percent, but is 2 percent or under,” Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., said in an interview with Bloomberg Radio.
Fortunately, since we have a single payer system of health care, you don't risk your life when you lose your job. Oh, wait....
And wait for another pissant, band aid-style, bankster-friendly "solution" on this from the administration as well. After some months of discussion about how best not to alienate the moderate Republicans.
NOTE "May have to get used to." That's rich. Sounds a lot like "accustomed to", doesn't it?