Shadowtraders

Full story here from ZeroHedge.

Ever wonder why according to the latest economic poll published by Reuters earlier the general public’s satisfaction with Obama’s handling of the economy is deteriorating faster than any other issue? (not to mention that 46% of Americans believe Obama is not focused enough on job creation, and that 72% of republicans say they are certain to vote at the November congressional elections versus 49% of democrats). A part of the answer comes courtesy of a new study produced by National League of Cities, the U.S. Conference of Mayors and the National Association of Counties titled simply enough: “Local Governments Cutting Jobs and Services: Job losses projected to approach 500,000″, showed local governments moved to cut the equivalent of 8.6 percent of their workforces from 2009 to 2011. As a result of local government cutbacks, almost 500,000 people will lose their jobs, and the total will likely rise. (more…)