Unemployment in America II

8/6/2019 Unemployment in America II

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UNEMPLOYMENTIN AMERICA

"It's a recession when your neighbor loses his job;

it's a depression when you lose yours."~ Harry S. Truman

33rd President of the United States 1945-1953

PART II

Preston Williams III Continued


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UNEMPLOYMENTIN AMERICA - PART II

TABOO

Updates: Brief Legislative Chronology Recap: Income Disparity Critical Services for the Unemployed in America

FLIP THE SCRIPT

THE NEW AMERICA: OPEN YOUR EYES AND SEE!

WAKE UP & SMELL THE COFFEE ITS BURNING!

THE PSYCHOLOGY OF UNEMPLOYMENT

GOVERNMENT POLICIES: DO THEY WORK?

ABOUT THE AUTHOR

TABOO

Preston Williams III Page 2 of 19


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McDermot (Democrat).

H.R. 4183 Helping Unemployed Workers Actwas introduced on December 2,2009, sponsored by Congressman James McDermot (Democrat).

S.2831 Helping Unemployed Workers Act was introduced on December 3,2009, sponsored by Senator John Reed (Democrat).

H.R. 4691 Temporary Extension Act of 2010was introduced on February 5,2010 sponsored by Congressman Charles Rangel (Democrat).

H.R. 4213 Unemployment Compensation Extension Act of 2010 wasintroduced on December 7, 2010 sponsored by Congressman Charles Rangel(Democrat).

On December 16, 2010, the U.S. Congress passed the Tax Relief,Unemployment Insurance Reauthorization and Job Creation Act of 2010.

Source: www.opencongress.org

These are just a few of the many phases of political discourse that have takenplace regarding the plight of the unemployed in the United States between 2009and 2010.

While the Tax Relief, Unemployment Insurance Reauthorization and JobCreation Act of 2010 extends the provision of unemployment benefits torecipients, it does not address the income disparity discussed inUnemployment in America Part I.

Recap: Income Disparity

Q. How does the US Department of Labor calculate unemployment?A. Every individual who applies for unemployment at any StateUnemployment Office is captured in the departments system. All of theformer employees details are inputted into the departments database.

Q. How is unemployment eligibility determined?A. An individual is usually eligible for unemployment due to a layoff. Any

individual losing their job due to resignation or dismissal for cause is NOTeligible for unemployment.

Q. How is unemployment insurance payment calculated?

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A. It varies from one state to another. Average estimated bi-weekly isapproximately $320.00 resulting in a total monthly payment of approximately$640.00.

Note: This information was based on the applicable rate for the state of North

Carolina in 2002.

Critical services for the unemployed in America.

Some individuals are eligible for COBRA Insurance after losing their jobs.However, this critical health benefit is usually too expensive for an individualpayor outside of a large corporate pool and is often shunned by people trying topay for transportation and housing as well as keeping food on the table.

It is hard to believe that several of these Congress men & women, many of whomare career politicians, can be so harsh and uncaring about the people who voted

them into office. It is mind boggling when you consider that their livelihoods andlifestyles are being provided for and subsidized by the taxpayers.

Many of their constituents have been affected by this economic malaise and yetthese politicians callously toss aside their mission to represent their electoratebut rather focus on a personal mandate to do the best for their political careers.

As I listened intently and watched recentdiscussions on the US Congress House Floorabout this issue, I observed several politiciansargue vehemently against providing this much

needed safety net to those adversely affected bythe Depression.

I could not help but wonder if these electedofficials were from another planet. Then Iremembered a famous quote:

"Democracy substitutes election by theincompetent many for appointment by thecorrupt few." ~ George Bernard Shaw

Most people who venture into politics today areno longer cut from the same cloth as the likes ofPresident Abraham Lincoln of the United States,

President Leopold Sedar Senghorof Senegal, orPresident John F. Kennedy ofthe United States of America. These people were servants of the people whoelected them to office. Their public policies reflected a commitment to deliver onthe mandate of the electorate which ushered them into office. They were always

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transparent about their convictions and willing to fight for the issues that ThePeople felt were important to their success and development.

We saw this attitude at work during the administration of President WilliamJefferson Clinton and we are beginning to see similar trends during the

Presidency ofPresident Barack Obama.

In some nations it has become adequately clear that when people have fullbellies and adequate living conditions, including the opportunity to earn anhonest living, political ramblings are generally minimal.

Many Third World countries including Liberia, Nigeria & Rwanda have learnedthis tough lesson through strife. When people are content with the generalcircumstances of their lives, they are able to direct their energies to other morepositive activities. They dream big and anticipate what new products or serviceswould make their lives more meaningful or comfortable.

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Flip the Script

I wonder what would happen if The People had power in a True Democracy.Would these individuals elected to represent them rise up to block these fundsfrom being appropriated for the struggling masses? What would happen if they

too were being subjected to the same conditions of the American people? Wouldthey carry on the same way?

Hypothetical Scenarios:

ALL State & Federal employees salaries should be reviewed andadjusted to reflect their performance. Since the US economy isunderperforming and the true unemployment average is closer to 20%than 10%, elected officials remuneration should be adjusteddownward. This will reflect their inability to pass proper legislation tomaintain a viable and resilient economy.

Lawmakers should be required to provide FULL DISCLOSURE of ALLASSETS. This information should be made available to the properGovernment Agencies charged with making Fiscal & Budget

Appropriations for the US Economy.

In keeping with the Freedom of Information Act, said informationshould be made readily available on a US Government web site andconstantly updated to reflect any changes in their status.

As a temporary measure and a show of solidarity with their loyal

constituents, lawmakers who do NOT support the US Governmentproviding benefits to unemployed workers should forfeit their salariesand benefits. Said funds should be directed to government agencies /programs responsible for providing emergency resources and services(healthcare, housing, child care, transportation, food subsidy, etc) tothe unemployed. It would be interesting to see how they like themapples.

In keeping with the observation of President Harry S. Truman, these lawmakerswill be forced to see the current economic crisis for what it is a DEPRESSION!

When these individuals are forced to make the same kinds of sacrifices as thepeople they represent, perhaps they will be more willing to advocate for andsupport the kinds of legislation that will restore America to its previous esteemedplace in history - a beacon to the world. A place where anyone with the rightattitude and a willingness to work hard can succeed and achieve their dreams!

Right now the American Dream has become a Nightmare. Too many Americansare losing their homes to foreclosure, their cars are being re-possessed and they



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are losing their lives to once curable illnesses - all because they lost theirlivelihood. The American psyche is ingrained in the belief that there is dignity inlabor. For many Americans, a job is more than a source of income. It is who weare. Many of us are what we do.

So it is with great disappointment that I watched a Do-Nothing Congress whittleaway at every piece of legislation that would at least give people a sense ofdignity through their continued ability to provide basic human requirements forthemselves and their families.

How many of these legislators would balk at programs that provide medical carefor families with special needs children where both parents have lost their jobs,especially if it affected their families?

The situation is dire because today there are Two Americas The Haves andThe Rest of Us. Those who have, continue to get more because they can buy a

seat at the table, while those who cannot buy a seat have NO voice.

It is amazing how these politicians play with peoples lives without impunity. Theiractions have decimated the once great American Middle Class and nobodyseems to care.

It is funny how the great United States of America over the last decade hasbecome very much like many of the Banana Republics which have beenfodder for ridicule in American political circles for decades.

"When we look back 10 years from now, we will see 2008 as a fundamentalfinancial rupture."

- Peer (Peter) SteinbruckGerman Finance Minister

2005-2009

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The New America: Open Your Eyes and See!

The New America which emerged in the last decade nowdemands that you pay to play and the game has gotteneven more expensive.

The creation and passage of the Stimulus bills was done toavoid a potential apocalypse which had been engineered by cunning, greedybusiness executives whose only motive was their compensation packages. Thecollapse of financial giant, Lehman Brothers and several other conglomerates isevidence of greed on steroids.

However, they are not the only ones to be blamed for this very unfortunatedevelopment. They got a significant amount of help and support from thelobbyists that represent their interests and the government officials who passedthe kinds of legislation that made their diabolical plans a reality.

In the first decade of this new Millennium, legislation was introduced and passedwhich removed many of the protections previously deemed necessary to containthe exploits of overzealous business representatives. Some of these corporateleaders were driven by their conviction to earn big paychecks and everincreasing bonus packages by leveraging whatever tools were available toachieve their objectives. They did so with relentless aggression, sometimesregardless of the potential long-term consequences of their actions.

The market rewards extreme risk takers every time their companies stocks goup. That is the way the system is setup. The more you sell, the higher your

compensation for pursuing such ventures. The greater the risk, the greater thereward!

However, several politicians without the proper business acumen and in somecases without a clear understanding of the full impact of their actions, willinglypassed legislation that allowed astute corporate interests to change the Americaneconomic landscape. These politicians sold out to lobbyists, some of whom didnot have a full grasp of the long-term implications of the outcomes that some ofthese relaxed rules would have on the domestic or international market place.

It would be quite interesting to determine how many legislators fully understood

the nature of mortgage-backed securities or the transactional risk associated witheach derivative before the special hearings conducted after the fall of LehmanBrothers. The company filed for Chapter 11 bankruptcy protection on September15, 2008. Till this day, many of them do not understand the nature of thesefinancial instruments and could potentially vote to support the re-introduction ofsimilar tools if the language used by large businesses was complicated enoughto lure them into a false sense of tranquility.

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The very short-sighted and somewhat limited view of some American politiciansdoes not allow them to see The Big Picture. They do not understand thecomplexities of multi-national corporations and could not fathom the full impact oftheir actions on the domestic US economy.

Corporations are for-profit entities driven by the incentive to generate as muchprofit as the market will bear. Investors and Boards of Directors are almostalways only concerned about the bottom line. That is Capitalism at its best.However, even the greatest corporations in the world have come to understandthe importance of Corporate Social Responsibility and are developing CorporateGovernance policies that will allow them to be better global citizens.

Some companies like Halliburton are able to bill tens of billions of dollars forcontracts with US military operations in the Middle East. Yet legislators remainunperturbed when the company reportedly could not account for over $3 Billiondollars for which it had been paid. No prosecutions have been reported despite

the fact that the company has been paid large sums without substantiatedinvoices.

Source: Suit Charges Halliburton with Accounting Fraud

Several of the failing financial institutions which received federal funding toremain viable have refused to release those funds into the economy. Insteadthey continue to sit on this money while small businesses which have been thebedrock for creating jobs in this country go under.

Without the much needed cash that allows them to buy hardware, software andhire the kinds of employees that empower them to be competitive in an everexpanding global market place, these businesses have had to layoff employeesto stay alive while others have been forced to file for bankruptcy or forever shuttheir doors.

Even with well-laid recovery plans, several of these organizations have not beenable to emerge from bankruptcy. The United States Small Business

Administration (SBA - SBIR/STIR) is striving to create financing alliances forstruggling start-ups and other small businesses, while many of the cash richfinancial institutions who are recipients of Federal Assistance are unwilling tostimulate the economy by lending to seasoned entrepreneurs with establishedbackgrounds / experience.

Based on the much more stringent and sometimes unrealistic financingrequirements put in place following the economic downturn, several companiesare no longer eligible for Letters of Credit or Letters of Guarantee. Capital is thelifeblood of any business undertaking and without it, every business eventuallyfails.

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Several of these companies are being forced to investigate new financing optionsbesides traditional banks & Venture Capital. It is critical to their survival that theyare given access to much needed capital in order to hire skilled Americanslooking for work.

Source: Entrepreneurs Unite! : By Preston Williams III

Even landmark American businesses have fallen victim to the rolling assault ofthe depression. Did these politicians understand the multiplier effect that thesechanges in legislation would have on US companies with foreign interests? Didthey consider the ripple effect for sitting supinely while coveted American jobswere outsourced to much cheaper labor markets at the cost of perhaps a pennyon the dollar?

A new phenomenon like the Wikileaks debacle is being treated as a violation ofmilitary secrets. Whatever happened when computer manufacturing in the USA

which included many of the proprietary secrets contained in patents (includinghigh level cipher codes) were sold to a Chinese company? NOTHING!

The business was deemed to be underperforming since the cost of itsoperations in the domestic market was disproportional to the revenue generatedfrom unit sales. All of the so-called business secrets associated with theproduction of these computers is now the proud possession of a formidableChinese enterprise.

Legislative roll backs have their place in our society. Nonetheless they should becarried out with the utmost care and caution with a long term view of our future.What may be politically expedient in the current circumstances may prove to behorrendously devastating in a few decades.

Many big businesses were encouraged to violate ethical codes to make a buck.After all if you were fined $3 million for bribing corrupt government officials inThird World counties and those bribes allowed you to make $ 300 million inprofits, where is the incentive to desist from such behavior? In fact a savvy ChiefFinancial Officer (CFO) would be wise to convince both the Chief ExecutiveOfficer (CEO) and the governing Board that it would be in their best interest tocreate an operating reserve account to pay such fines whenever they ariseconsidering the high profit margin attained as a consequence of this practice.

Every action has a consequence. Those who have played by the rules have beendevoured by those who trump the rules whenever they choose.

How can you argue indifference when companies like Bechtel & Halliburtonareawarded No Bid Contracts? WHY? How can these politicians who aresupposed to be the gatekeepers of American interests sit in silence while theseactivities are going on? Where were they when the American people needed

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them the most? They were out playing golf with cronies filling their Political ActionCommittees (PACs) coffers with large sums of unreported campaigncontributions.

If this has not been open season for corruption, I do not wish to see what it would

look like when the season is officially declared OPEN. Third World despots likethe late Mobutu Sese Seko of Zaire will appear like sand lot bullies.

"The economy is in shambles!

- Warren BuffetBillionaire Investor

Mar. 3, 2009

Ignorance or apathy, the results are the same. The United States of America is acountry in crisis!

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Wake Up & Smell The Coffee - Its Burning!

Lets look at a few very likely scenarios playing out in neighborhoods all over

America. The devastation that takes place in a mining town in West Virginiawhen the company closes affects EVERYBODY! Restaurants that once cateredto miners and their families no longer have any customers because theunemployed cannot afford to patronize their establishments.

With lost incomes, the struggling families can no longer seek the medicalattention they need and hospitals lose patients. Some are forced to close theirdoors. The local theater shuts down because families are constrained to stay athome and watch TV because they cant afford movie tickets or the popcorn, sodaand milk duds that are part of the theater experience.

Grocery stores see fewer customers and many items remain on store shelveswell past their expiration date. Suppliers of perishable goods experiencestagnation in orders because the stores cannot move their current stock fastenough. Farmers affected by this shortfall have to consider converting milk cowsto beef producers because they can no longer afford to buy feed for dairy cows.Layers are slaughtered en mass because farmers can no longer afford to buyfeed for chickens when they lose a significant portion of their egg business.



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People travel less and taxes on gasoline and luxury goods become almost non-existent. Schools are forced to shut down because they cannot generatemunicipal bonds to pay for the upkeep of their buildings. Teachers are let gobecause the state budget has been devastated by the inadequacy of revenuegenerated from sales & property taxes.

As more people lose their homes to foreclosure, the local and subsequently thenational coffers are bankrupted by the disappearance of much needed propertytaxes once generated from those homes.

Many of these foreclosed properties are abandoned and homes remainunoccupied. Despite local ordinances, very limited municipal funds can no longerpay for the upkeep of the neighborhood. They fall into disrepair and propertyvalues plunge. Crime permeates once beautiful developments with manicuredlawns now crime infested dumps for drug addicts and criminals.

Automobile sales drop exponentially because people can barely pay their currentcar-notes and are definitely avoiding any new cost to their already stretchedbudgets. Some dealerships are forced to file for bankruptcy. Automobile partssuppliers who depended on those dealerships are unable to stay in business.They too are forced to close up shop. Sales taxes from those operationsdisappear.

When people are no longer able to provide for themselves and their families,whole neighborhoods become ghost towns. Able bodied men and womenrelocate in search of new jobs. Once thriving communities, become a thing of thepast as Mother Nature moves in to reclaim the land.

This is the ghastly but true picture of unemployment. It is an old story with newtwists depending on the country and the people. Whether they are ruralcommunities or suburban sprawls, this depression is affecting most Americans.Urban blight is rampant in many once vibrant uptown neighborhoods. Wholecities are being run over and some like Detroit, Michigan are being shrunk to amore manageable size for the poverty stricken and destitute residents. Citygovernment can no longer afford Emergency Medical care and people die by thethousands. Without proper maintenance, buildings begin to fall apart and become

jungles. Pot holes become part of the driving experience. Cars get damaged fromthese bad roads, but who can you talk to? The insurance companies wont evenlisten because your policy does not cover damage as a result of broken roads.

Doctors see their patient loads drop off significantly and their incomes becomeshadows of a distant memory. They pack up and take their knowledge, skills andexpertise to communities that can afford to pay them a decent salary. After allthey still owe large amounts in student loans.



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Families with sturdy roots in old communities are being forced to uproot in orderto make a living anywhere a living can be made.

People once worth millions of dollars are now fighting to get jobs with negativenet worths being scored by any of the major Credit Bureaus. Several people are

finding out that they no longer qualify for jobs that they are very capable ofperforming because they have negative items in their credit reports. Makes youwonder if the Credit Score is expected to do the job instead of the individualapplying for the position. This is another contributing factor for the delay inturning the economy around. It has become a vicious circle. Why isnt the USCongress looking at this issue?

This is The New America!!!



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The Psychology of Unemployment

Beyond the damage to infrastructure is the psychological devastation suffered bythe unemployed. Once deemed knowledgeable and solid citizens of theircommunities, the unemployed quickly become meaningless faces. They no

longer have the big bank accounts which perhaps meant an offer of a free cup ofcoffee and a polite discussion about the weather. Now they are no longer worththe time of Bank employees who are trained to equate your worth to the size ofyour bank account.

People are constrained to question their self-worth. For some, DEPRESSIONbecomes a personal state of mind. With the loss of mental acuity, general healthsuffers and once active professionals become sedentary couch potatoesbecause they cannot afford to work out at the neighborhood gym. They spendmany long and lonely hours staring at unfriendly computer screens in an endlesssearch for the next job to regain some sense of self-respect and dignity.

Some lose their grip onreality and succumb todrugs or alcohol to numbthe pain and fill the gap ofnothingness. Since manyof us define ourselves byour jobs, without a job weliterally become nothing.Our lives once filled with thelaughter of friends, family

and loved ones is now eerilyquiet. The silence is sooverwhelming every newthought rings loudly like an alarm going off at midnight.

Once very engaging, colleagues no longer call for fear that your unemployment iscontagious and might affect their ability to keep their jobs. The longer you stayunemployed, once guarded savings disappear and 401K plans becomeemergency funds for Doctors visits and food.

Children of distraught and desperate parents become potential victims of neglect

and/or violence. Parents lash out at their children because they have no otheroutlets for their stress and disappointment. Some turn to a life of crime.

As money becomes scarce, the thought of an early death becomes a constantcompanion and faith finds itself at a cross-roads. Even the prospect of death isuncomfortable because there is the question of the real estate for your final exit -cemetery plots have gotten more expensive over the years.



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And yet, even for those who are barely holding on by the thinnest thread ofHope the light at the end of the tunnel seems dim at best. For others, the bigneon sign reads:

The Light at the End of the Tunnel has been turned off due to Budet Cuts.

I wonder how many of these Legislators would hold on to their so calledPRINCIPLES if this were their lot. Would they carry on the same way if theywere forced to see LIFE through the eyes of the destitute millions of Americanswho once lived to espouse the American Dream and are now the victims of asystem primed to destroy them? The American Dream has become anAmerican Nightmare!

GOVERNMENT POLICIES: Do they work?

Every government uses the tools at its disposal to provide for the well being of its

inhabitants and citizenry. For quite some time, fiscal & monetary policies havebeen used in a mix to maintain, grow or resuscitate a struggling and sluggisheconomy.

In the best of times, those macroeconomic policies are carefully crafted to ensurethat the benefits far outweigh the pitfalls. Sound planning involves bringing allplayers considered critical to the health of the national economy to engage in thisworkout. These representatives come from various aspects of the socio-politicaland international community.

In this new era of self-aggrandizement at all costs, we are witnessing a quality ofgreed unforeseen in American history. The few wealthy like ex-Tyco CEO,Dennis Kozlowski and Bernard Madoffare just too willing to sacrifice the manypoor in their pursuit to amass great wealth. We are witnessing the kind of greedreminiscent of Rome before its fall. Many of these stories are captured in the TVseries:American Greed.

So what is the American government to do as it strives to find a way out of thisquandary? Like many other governments around the world, state agencies likethe Federal Reserve Bank have to work closely with the Departments ofTreasury, Labor, Justice & Social Services among others. The roundtablediscussion should include people from ALL walks of life, especially those whohave lost their jobs & careers during this deep depression.

"In all my years monitoring the economyI've never seen anything asfrightening as this."

- Martin FeldsteinEconomics Professor

Harvard University

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Government by the people and for the people has become an American Myth.

The new administration definitely has its work cut out because saving theAmerican economy is tantamount to saving the world economy.

Coming soon

Unemployment in America - Part III

We will explore the fallout in the aftermath of the recession:

Beefing up the Human Resource (HR) Database

Data mining: What happens when you apply to a position on a job board?

What does it mean to be under/over qualified for a position? The real statistics of unemployment: Race, Gender, Education, Ethnicity.

New code words for The dangers of outsourcing US employment to Third World countries Identity Theft the new nightmare on Elm Street Biometrics tackling the new age of cyber crime.

Fixing our economy Are we there yet?

--

Submitted By:

Preston Williams III

B.Sc. M.Sc. CPA CIS

Founder | Senior Partner & CIOGBC Global ServicesInformation Technology SolutionsInternet: http://www.gbc-inc.net

Date: January 24, 2011

PrestonW

ABOUT THE AUTHOR

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Preston Williams III is Senior Partner & Chief Information Officer (CIO)at GBCGlobal Services. He is a pioneer and futurist with 20+ years of Big 4, Fortune500, Global 100 and entrepreneurial experience. That experience includesSenior Auditorwith Price Waterhouse (PriceWaterhouseCoopers), Controller forLynn-Phill, IT Consultant with McGladrey & Pullen and Andersen Consulting(Accenture) as well as Project Executive at IBM Global Services. Mr. Williamsalso worked as the first Product Manager for Global Data Collection with Dun &Bradstreet (D&B) and the first Chief Information Officer (CIO) at LangstonUniversity.

From 2002 to 2004, Preston Williams served as the first Chief Executive Officer(CEO) & Managing Partner at GBC. Incorporated in Delaware, USA; the firmoperates in Liberia, Kenya, Ugandaand the United States.

Preston has successfully implemented sound, reliable, dynamic, scalable androbust IT systems integration and financial management solutions in North

America, Asia Pacific (APAC), Latin America (LATAM), Europe, the Middle Eastand Africa (EMEA).

Mr. Williams is a member of the American Business Network (ABN), formerTechnology Committee Chairman of the Oklahoma State Council on InformationTechnology (CoIT) and a former member of the Innovative Technology AdvisoryCouncil of Oklahoma (InnoTech). He is a member of the EDUCAUSE CIOConstituent Group, the Carolina Information Technology Professionals Group(CITPG) and the Massachusetts Institute of Technology (MIT) Enterprise Forumof Cambridge. Preston is also a member of the International Entrepreneurs Club,the International Technology Channels Association (ITCA), Tech Republic andthe Global CIO Think Tank.

Mr. Williams is DUNSRight certified with Dun & Bradstreet (D&B) and an IBMSignature Selling Methodology (SSM) certified professional. Preston holds a B.Sc. Degree in Economics from Cuttington University College and a M. Sc. inRegional Planning with a Specialization in Regional Resource Allocation &System Dynamics from the University of Liberia. He studied Auditing at theInstitute of Chartered Accountants in England & Wales and holds a CPA from theLiberian Institute of Certified Public Accountants. Preston has a CIS from GreatPlains Software in Fargo, North Dakota, USA. He also studied ComprehensiveGeneral Management at the Executive Education Program of the Harvard

Business School at Harvard University in Boston, Massachusetts, USA.

Preston Williams III is Chairman of the GBC Board of Directors, an AssociateMember of ExecuNet, recipient of the IBM Global Services Leadership Award,Published Authorand a Moderator of the Internet Evolution Executive Clan.

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Documents

Unemployment in America II