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Many of the jobs "created" over the past 8-10 years were not really productive, though it is hard to say what percentage of deadbeats in this country were actually underemployed: maybe they had the kinds of jobs they deserved.
The tragedy, however, is that the productive probably did not deserve the pay the consequences of supporting so many deadbeats.
If we had policymakers with any sense of country and economy, they would seize this opportunity to restore balance to the economy, including basic manufacturing.
In some cases it was just saturation. You really don't need a Sprint store on every other corner.
In the case of Starbucks..there were 2 on a corner..lol.
A new, disconcerting thought is occurring to me since this is not the first time the market has moved positively in the face of dire news:
There are two kinds of people in America. The ones who don't have money to throw at stocks when unemployment is hitting 7.6% and the ones who still have so much EXTRA cash on hand that they're not afraid to "play" games with it.
This demonstrates a MONUMENTAL disparity in the financial security of these two groups.
Either we're becoming Mexico, where the majority of people are impoverished and the few are extremely wealthy-- or-- these two groups are going to meet in the street one day. And it won't be pretty.
A new, disconcerting thought is occurring to me since this is not the first time the market has moved positively in the face of dire news:
There are two kinds of people in America. The ones who don't have money to throw at stocks when unemployment is hitting 7.6% and the ones who still have so much EXTRA cash on hand that they're not afraid to "play" games with it.
This demonstrates a MONUMENTAL disparity in the financial security of these two groups.
Either we're becoming Mexico, where the majority of people are impoverished and the few are extremely wealthy-- or-- these two groups are going to meet in the street one day. And it won't be pretty.
One or the other, not good.
With middle class sinking we are becoming a nation of 2 classes just like other countries.
I can't understand why banks are not making new loans to all these unemployed people and failing businesses.
I can't understand why these people are not buying up cars, houses, electronics, jumbo shrimp and lobster and causing hyperinflation.
I can't understand why with all this new frugality we are not becoming wealthy. Look how much we are saving.
We had 640k new people claim for unemployment last week....unemployment is probably near 20%
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