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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (6287)7/26/2001 12:12:47 PM
From: westpacific  Read Replies (1) of 74559
 
Right Jay, were are these folks going to find work. Not like companies will be hiring until well into a recovery - and we know how far off that is.

It reminds me of when we built the Blue Ridge Parkway here in America in the 1930s - just to put men to work and boost their confidence.

The problem this time is can the government do the hiring when they are already bulging with over staffing themselves.

Maybe they can come to work in China - helping build the infrastructure for the Olympics. Then again not sure they would be willing to work for .50 an hour - like so many Chinese that are so happy themselves to have a job.

As Alan said last week, do away with the minimum wage - what do you think he was saying in this statement. He was saying that there is a massive amount of labor in the world that will work for whatever it takes to put food on their table. Oh how fat and lazy this country has become.

Going to be a lot of pain before this is all over.

Watch FNM - Fannie Mae, controls about 45% of all housing loans here in the US. This is the new indicator of were this economy is going. Since the next crack in the dyke will be the housing bubble, what with so many unable to pay the mortgage.

All the best

West
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