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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (31411)6/4/2005 3:40:03 AM
From: Haim R. Branisteanu  Read Replies (3) of 116555
 
Jobs seem to be in the agony process already - mostly low paying healthcare jobs are created due to the aging population and extended life of the elderly. Even hospitality jobs are shrinking - not enough money around for away from home vacations.

I have an elderly sick mother and I am generating a new job now, on her behalf, my free time and productivity is shrinking as I must waste my time on creating this new job participating in the dynamic of "new job creation" and will waste the savings on it.

Net Net not a national economic gain, but a great bust to employment statistics and other gov. hubris like consumer spending, durable goods orders etc. - yes I need to buy items that will last over 3 years to enable her comfort and create the new job.

This "new job" will enable the shills at the government boast prosperity but in fact is the opposite - savings dwindling spend on non-productive means in an ever growing trend. Wonder if the BLS is adjusting to those demographic changes -- I bet not.

Would also add that the BLS policy of under-reporting CPI enacted by the venerable shill in charge of the Republic 10 years ago and until Y2K, only diminished the adjustment of my mother savings to inflation and due to FED policy of “trusting” the misreported CPI and lowering rates frantically hit my mother income very hard. Oh yes her home equity should compensate for that – but then were should she live – or hand over the keys to another thieve and swindler? True she lost interest in voting so why bother with the welfare of the old lady she is politically useless.

For sure China India or Brazil etc., is not affected by such hardship as the life span there is much lower and after all the care to the elderly there is not as costly as in the US or for comparison in North America or EU.
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