Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Seeker of Truth who wrote (35955)	7/10/2003 5:09:46 PM
From: Maurice Winn	Read Replies (1) of 74559

True Malcolm, but with debt, they'll work for less money. And the money that was loaned is still in a bank account somewhere and the people who have it are in a position to buy. There is an unlimited number of jobs available. The only question is the pay rate that people can get for doing them and whether they can be bothered. When they owe, they had better get some sort of job. The problems, as usual, come from government, which sets a minimum wage so jobs aren't on offer less than that. So the unemployment rate piles up around that minimum wage. The dole expands, the tax base dwindles. It all goes bad. Germany is now finding that incentives to work need to exist or people don't. They have huge numbers of overpaid unemployed dole bludgers. Isn't Toronto in Canada? You must mean some other Toronto I haven't heard of. Toronto Canada isn't exactly mid-west. Mqurice

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