In the midst of the highest unemployment since the Great Depression what kind of a fool do you need to be to think that there is a shortage of qualified US workers?
IBTZ? Hmmm...hmmmm.hmmmm
One million schoolchildren homeless??
Investment and production is the real driving force of the economy.
It seems that space aliens have taken over our whole government.
obama told un that they must not rely on american spending to get them out of slump? does that mean he is taking what little we have left? why do some expect no us currency in 5 years....
Basically, PCG is telling these companies who they must hire. It’s unfortunate that in the current economy, a good candidate like the one he cited can’t get a job...at least where she wants. But I can’t blame these companies for wanting to cut costs in a huge recession. Companies don’t exist to employ people. They exist to make profits. If there’s some other more nefarious reason for those companies not hiring the kid PCG wants to hire, perhaps he should have shed more light on that rather than hyperventilating. As for the economy, yes it sucks. He missed his chance to talk about how that wonderful budget busting stimulus package was bringing about bunches of new civil engineering and architecture jobs.
This economic collapse is by design from those in DC who desire to give us “hope and change” in Marxism and serfdom. This is nothing less than a coup. They’ve intentionally bankrupted this country (or they truly are fools) by destroying the dollar and burying us in debt to bring on this collapse. This way it makes it easier for you to submit (you’ll realize there’s not much you won’t do for a crumb of bread when you’re hungry). You’ll be glad to be subservient to tyranny when your wet, cold and starving.
These people are evil and clear threat to the Republic and the individual.
The problem is called “Career Politicians” and how they finance their campaigns.
We need throw out the old campaign laws and start over.
The new campaign law should start with “Only eligible voters can contribute to………..” along with total transparency, mandatory prison time, removal from office.
JOIN THE TAX REVOLT
STOP YOUR SPENDING
Don’t give to Washington
Don’t give it to Wall Street.
Don’t put it in the Local Bank
Take your extra cash and bury it in the “back yard”.
And above all tell your “career politicians” why you have stopped spending.
Tell Washington to stop their out of control spending.
a lie for sure..... don’t participate and go into the grey economy if you can. Not all can of course and if you are reeling in good pay then stay on course
Nice to hear from Paul Craig Roberts again. He has always been a voice of sanity.
I only read the first 2 paragraphs but they are basically correct in theory if not entirely fact (1 million homeless children?).
The reason they are printing trillions of dollars is because we have been in a liquidity trap. This means deflation.
It is kind of ironic because for 20 year the Fed has pursued a cheap money policy. Banks could borrow cheap, and over time there was so much money in the system that it drove all kinds of asset bubble including the stock market (1990-2000, 2001-2007), housing bubble (1997-2007), and eventually a commodities bubble (2007-2008). Oil, and all other commodities were driven SKY HIGH by early 2008. $150 oil! This drove producer costs through the roof. However, producers could borrow cheaply, and were able to defer temporarily that inflation and not have to pass much of it on to consumers. They profited from cheap debt and equity financing and by purchasing growth and also because consumers kept buying and buying.
Then the bubbles all burst at once! Houses, commodities, stocks. Producer costs fell, and while consumption dropped no producer could raise prices. They made up some of the lost profits by reducing costs of goods sold. But consumption is much much lower too. And so prices will come down. And they have. Houses, cars, household goods all cheaper. The government has to give you money to entice you to buy cars (cash for clunkers) and homes ($8000 tax credit). This is all because the velocity of money is very low. People are saving more than ever. They are hoarding cash.
Talking heads on TV say inflation is going to get us as a result of all this printing of money. Maybe, eventually, someday. Or not. Right now we are still, imho, in a liquidity trap. They are giving out money, and the more they give the more is hoarded. Sure banks are taking government money, but they are not lending it out very often or very easily. And so the government can print $100 trillion, but, if nobody wants to spend it, it will do nothing to help the economy and won’t cause any inflation at all.
Right now Chinese can take dollars and buy copper mines in Africa. Banks take the money and sit on it (not lend it) to shore up their balance sheets to “balance” their bad loans. Consumers fear that the recovery isn’t a sure bet and they put their money in the bank even at 0 interest. That kind of stuff sops up the liquidity and puts a damper on inflation. The government is trying hard to monetize the national debt (inflate our way out of debt such that the money we own now will be relatively small in the future as inflation erodes the value of money, and thus the value of debts) but it isn’t working if the money doesn’t circulate around.
Very strange circumstances we are in. Possible a sea change in attitudes. And if so, there will be no “recovery” just a dramatic shift in the way Americans view wealth, money, savings and the need for “things”. Sorry if this post seems rudimentary but I wanted to spell it out for those who may not know economics. And I could be wrong - most people think inflation will come roaring very soon. But I don’t. At least not in the near term. I think people want to hold cash for now because, well, we just aren’t that far from the crisis that we forgot how important it is to have ample reserves. DOW 10,000 in just 6 months from DOW 6500? Who are they kidding? That is purely fed driven, targeted “bubble” and watch how fast the average guy takes the profits. DOW 8500 is a very distinct possibility just a few weeks from now.
I’m 52, and there has been a shortage all my life. Even now. Half the people I see ‘working’ are oxygen thieves, at best.
If we lived in the era of small farms, these people would starve and or freeze to death in a year.
What?
You mean it ain't fixed? BO Lied again?
Say it ain't so Joe. . . .
In the midst of the highest unemployment since the Great Depression
When they start their article with this sort of hyperbolic nonsense, the authors complete destroy any intellectual credibility they might have had with Conservatives. As bad as it is, this is NOT " the highest unemployment since the Great Depression" http://data.bls.gov/PDQ/servlet/SurveyOutputServlet
We manage best when leaders like Reagan get Govt out of our way rather then advocating it "help the little guy". All "Govt help" does is forge manacles of govt dependence on the "little guy"
Government is the problem, not the solution. The regulatory and tax burden placed on business large and small by our every growing Federal, State and Local Govt is what drives our businesses overseas on into bankruptcy.
Try actually running a small business some time, instead of just sucking at the Government Union job tit, an you might understand just how crushing that burden is.
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