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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (14340)	10/30/2004 1:34:10 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

How did that happen, surely we all lost our jobs to the productivity increases!? Hardly. In 2000 we had about 142 million people employed in this country, ten times the number who were in manufacturing in 1940. That was an assinine argument IMO. Not only do we have enormous population growth, we now have two workers in every household struggling to make income meet when there was once only one. No, I don not personally long for the good old days cause I have been one of the lucky. The fact are these however: 1)In spite of population growth, Bush is the first president since Hoover to lose jobs on his watch. 2) Bush is the first president EVER in history to lose jobs during "a recovery" 3) There are more people in poverty that 4 years ago. 4) Debt levels are unsustainsble 5) Record all time high stimulus of tax cuts, tax credits, military spending, 1% interest rates, a housing boom, and round after round of cash out refis produced ZERO jobs relative to population growth. In fact as I said before we LOST jobs.6) The middle class is getting squeezed while the extremely rich get richer and the poor get poorer. Now you tell me, which of those facts you dispute. If you do not dispute any, or even if you do, tell me when we are going to see job creation IN THE US, as opposed to China and India. Please do not offend me with bullshit about the "home survey" that counts selling comic books and used computers on EBAY as a job. Were jos gained during this "recovery"? Yes, in India and China and Brazil perhaps. We lost jobs in the US. Now you can point to totally bogus unemployment numbers but you can not run and hide from EMPLOYMENT numbers vs population growth. I really do not care and nor does anyone else that is unemployed that some marvelous technology will creat jobs 2-5-10-20? years from now. No doubt it will. Right NOW from where I sit, every advance in machinery, the internet, and productivity in general costs jobs in the good ol USA. That fact does not make me long for 1940 1950 or 1970. It JUST IS. If it it is NOT "just is" them tell me where the F those jobs are that are being created other than part-time employees at Walmart or 68 year old clerks working at mcdonalds. Mish