Unemployed Americans are desperate to find work as they scramble to apply for jobs in numbers that far exceed job openings. CNBC reports:
At the Hyundai plant in Montgomery, Alabama more than 20,000 people have applied for one of the 877 job openings.
The surge of people applying may seem unusual, but it's not.
Take a look:
Last summer Ford had more than 18,000 people apply for one of 1,800 jobs at the retooled Louisville plant. That plant will open and start building the Edge SUV in mid-June.
In 2011, more than 41,000 applied for one of the 1,300 positions at the new Toyota plant in Tupelo, Mississippi.
In 2009, more than 65,000 applied for one of the 2,700 jobs at the new Volkswagen plant in Chattanooga, TN. Since opening, that plant has added shifts and is currently hiring another 820 workers.
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As middle class factory workers are being forced to take 30% plus wage cuts, Bankster and CEO compensation continues to soar out of the stratosphere, courtesy of massive welfare subsidies and congressionally approved bailouts to Wall Street and its cronies. The government has created a situation where the middle class has been deliberately beaten down to chronic serfdom.
While workers are now being thrust into the stone cold reality of free market wages during a period of profound inflation, government induced monetary devaluation and massive corporate welfare, the elites of our thieving and corrupt economic system continue to stockpile for themselves the crème de la crème of national riches. The bankster and crony capitalists are exempt from free market competition.
America has become a place where the poor and middle class are taxed and impoverished to make the rich richer. Such a concentration of wealth and power would never happen in a free country with free markets and sound money.