pal...<ot> wake up to reality mr greenspan! a point to ponder
when will the great forecasters climb down from their ivory towers, supported by the pillars of academia and enter the real world of business....
"shrinking labor pool , wage increases can fuel inflation"....
is not labor a renewable resource, more entering each year than leaving?
"full employment not good"
a bit absurd, the more employed,the more spendable wages,the more production, maybe not basic economics but basic business
unemployment average rate is a false number, it does not include the millions on the welfare rolls, and those who have stopped looking for a job...mr greenspan has no further to go from his suburban dc home than a brief trip to anacostia in southeast dc...unemployment probably in the +25% range. why do all states still offer job credits to employers to hire and train the hardcore unemployed? do not labor surplus areas exist in every major usa urban center?, is this not the reason why the fed government has established enterprise zones???
leave the economy alone....it did fine without government intervention in the post war growth period... stock dividends gave higher returns than bonds until the vietnam war, vietnam, and oil caused inflation, oil again dropping, which has more impact than higher wages. fears of asia heating up, for they consume 25% of the worlds energy...don't they know they probably produce equal amounts and are on balance exporters of gas oil and coal....
let us return to reason, let us believe in the strength of the economy, keep the government and it's quasi agencies from upsetting the monetary policy...it will only hurt the people if they do!!! |
