Millionaires Collect Unemployment. Zombie Takeover Spreads.

Zombies on the march.

What’s going on in Ecuador? Nobody seems to know. The president says the police held him captive for 10 hours.

“Did not,” say the police.

Why would the police kidnap the president? Zombies. The Herald Tribune says they were annoyed by his “austerity plans” – reduced benefits, slower salary increases and so forth.

Who knows?

Meanwhile, Bloomberg has a report, telling us that nearly 3,000 millionaires have collected unemployment compensation:

According to US Internal Revenue Service data, 2,840 households reporting at least $1 million in income on their tax returns that year also collected a total of $18.6 million in jobless aid. They included 806 taxpayers with incomes over $2 million and 17 with incomes in excess of $10 million. In all, multimillionaires reported receiving $5.2 million in jobless benefits.

“It’s a larger number than I would have expected,” said Alan Viard, resident scholar at the American Enterprise Institute, a Washington research organization. “But, people at any income level can lose their jobs.”

“Hey, Bonner…what are you complaining about? They paid into the system, just like everyone else. They’re entitled to benefits, aren’t they?”

Hold on. We’re not talking about people breaking the law. Or people doing anything wrong. We’re just talking about zombification…in which you fully comply with the law…and begin standing in lines, filling out paper work…angling…chiseling…and getting something from the government. A special parking place…drugs…jobs…food… Then, once you get it…you don’t want to give it up. Look at what is happening here in Paris. President Sarkozy has proposed to raise the retirement age from 60 to 62. What happens? The zombies take to the streets!

PARIS (Reuters) – French families, students and private sector workers joined mass demonstrations on Saturday as trade unions ramped up pressure on the government to drop pension reforms.

Opposition to President Nicolas Sarkozy’s plan to raise the retirement age to 62 from 60 showed no signs of abating and hundreds of thousands across the country marched in the fourth round of rallies in as many months

Unions said that about 2.9 million had marched, while police said the crowds numbered 899,000. The union figure was about the same as at the last demonstrations on September 23. The police figure was slightly lower.

A survey published by French daily newspaper L’Humanite showed more than 70 percent of people backed the day of action.

“We won’t back down,” said Bernard Thibault, head of the powerful CGT union. “If the government won’t listen there will be further action.”

So far, dear reader, only we realize what is happening. Silently, slowly, stealthily the zombies are taking over…


Bill Bonner
for The Daily Reckoning

The Daily Reckoning