Subject: txt sclm -
Washington - Mohamed El-Erian says economists are wrong to dismiss unemployment as merely a lagging indicator, a sign of where the economy has been.
For the chief executive officer of Pacific Investment Management Co., the 26-year high jobless rate is also an omen of things to come.
What’s different this time is the ''large and protracted'' rise in joblessness and the likelihood that it will stay high for years, according to El- Erian...
[But, hypothetically speaking, if your goal was to force the country into socialism this is a sure fire way to do it, as this country literally isn't structured to carry 25% dead weight.
To do so we'd literally need set our wealth distribution rates more along the lines of, say, France...]
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