Posted by oldtanker on March 27, 2015 at 08:44:28 from (64.118.3.75):
In Reply to: Our Economy posted by John in La on March 27, 2015 at 06:41:36:
John: I have a son in retail. Sales are down. What I see are a lot of people paying down debt instead of spend any extra money they are seeing because of reduced fuel cost.
There are a lot of people who have had their hours cut because of the health insurance issues. And then look at the layoffs at CaseIH and JD. And they are not the only places running fewer lines with a reduced workforce. So yea it's still tuff out there for a lot of people (I'm not including those on SS or SSDI, they were tight on money before this). One of my nieces was forced to switch jobs because her hours got cut and she lost her health insurance and has a baby daughter. In this area she got lucky and was able to find a full time job but then she has a 2 year degree.
I don't blame the companies. They have to make money to stay in business. If they have to raise pay then they have to raise prices. That can A: make their products unaffordable causing them to go under and B: spark another recession or deepen this one.
The government is a very poor job creator. During the depression yea they created some jobs but very few. Current historians are thinking that during part of the 30's that unemployment ran as high as 80%. We didn't really start to recover until we started selling war materials to England. That sent factory orders up making companies call workers back. Want to end a recession? Get people to spend money! That's why every administration claims every new job a victory. They want to get the people confident that things are getting better. That confidence causes them to spend more. Roosevelt and Regan were very good at giving the people confidence and hope.
Area to area things are different. People in the Fargo area can find jobs. A lot of them are low wage. But some people have done nothing to make themselves more valuable or squandered education money on worthless programs. Basically IMO, they made poor choices that put them where they are. HS diploma is worth minimum wage. Sorry but that's they way it is and always has been. Raise minimum wage and prices go up to cover the cost of those wages. Then inflation quickly kills any buying power of the new wage.
I really like the people that claim that a CEO gets paid too much but are OK with their favorite quarterback making the same money for playing a game. A couple of years ago if the CEO of Wal Mart had worked for free and given the entire value of his annual pay to the works it would have amounted to less than 9 dollars for each worker for the entire year.
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