|
Musicmystery -> RE: Unemployment progess (12/13/2009 9:01:13 AM)
|
Well then. Next time someone explains that we no longer need financial regulation, vote them out of office.
Next time someone tells you we can afford to spend billions on military invasions overseas and yet cut taxes with no ill effects, vote them out of office.
You seem to disagree, however, with the bulk of economists, that in a severe credit melt-down, and in the throes of a recession, stimulus is necessary to jump start the economy, as the market would take far, far, far longer to adjust independently, throwing us into depression.
Instead, we have a cautious recovery, jobless for now, with some employment recovery, probably only some for the next six months or so until cautious rehiring becomes necessary (you can only cost cut your way to profitability so long, and inventories keep shrinking, if slowly).
Consumers are not innocent of creating this mess either. People borrow more than they can afford, believing everything will always increase in value, saving little or nothing or, most often, going into debt, positioning themselves for disaster in a downturn. So we let them starve--or we add stimulus, help to restructure mortgages, extend unemployment benefits, offer tax credits to businesses creating jobs.
And later, when in recovery, and when taxes replenish those funds, when interest rates rise to control inflation, instead of outrage, explain to people why that's important--and why you're cutting back to contribute to your savings and long term security.
Fellow--
For at least these steel workers, reality is that they're back to work. Forgive me if I'm glad for them.
|
|
|
|
