The American job sector continues to look bleak, as new figures show zero new jobs were created last month. Gerald Celente from the Trends Research Institute says Americans are facing cuts, while the banks are being given a get-out-of-jail-free card.
Celente says Washington is now talking about the same kind of austerity measures that are currently racking Europe.
“That means more cutbacks,” he said. “So at a time when the economy is already slowing down, they create zero jobs.”
In an irony-laden sideswipe, Celente maintains the situation is just perfect for Washington because they “bet zero on just about everything.”
“The war on drugs, wars in Afghanistan, wars on education – you name it,” he explained. “That’s what they do – zero.”
At a time when the economy is slowing down, Celente believes, America’s approach is going to make the situation much worse, believes Celente.
“All of this QE stimulus, all of the Obama’s stimulus and Bush talk, where did the money go? It’s called too big to fail. So the money went all to the ‘too-bigs,’ and the rest of the people were too small to save,” he said.
Celente believes that the gap between rich and poor is wider in the United States than in any of other industrialized nation, and is continuing to grow.
“And it is the same trend that is going on worldwide,” he summarized.