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Politics : View from the Center and Left
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To: Little Joe who wrote (144959)9/22/2010 12:26:57 PM
From: Katelew  Read Replies (1) of 543066
 
I understand your confusion. It happens when people equate the economy with the stock market. Just because the market is moving up or down, doesn't mean the economy is improving or deteriorating.

But one thing happening right now that is confusing everything is this. The recession is declared over because business is expanding. In the aggregate, corporate America (which is actually in great shape as I pointed out to you before) is hiring and expanding. Sales are growing. The problem is that much of this is happening OFFSHORE. Physical plant and equipment is being built in other countries. Citizens of those countries are being hired....etc., etc.

Will all this offshore expansion benefit American worker? Yes, but it will be in sort of a trickle down fashion. After a hundred foreign workers are hired, maybe one American manager out of the 500 applicants will be hired to oversee the foreign workers, for example. So the recession is offically over because business is expanding again, not contracting, but how much will the overall American economy expand along with this? And how fast? Those are the questions.

As you pointed out, many people will be left out completely of this recovery. However, declaring the recession over should help Dems at the polls because that simple statement gives people hope.

I actually am beginning to think that what's going on in individual states is driving the elections in those states right now. Possible moreso than likes or dislikes of Obama and his signature legislative pieces.
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