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

To: Little Joe who wrote (91484)	12/12/2008 12:03:33 PM
From: benwood	Read Replies (1) \| Respond to of 116555

Very well put.

To: Little Joe who wrote (91484)	12/12/2008 2:05:20 PM
From: mishedlo	3 Recommendations Read Replies (1) \| Respond to of 116555

Hard to be sympathetic to workers who won't accept part of the pain. They are saying to taxpayers (most of whom would take their wages in a heartbeat) that the taxpayer should pay for them to have superior wages and benefits. LJ - I nominate that for the comment of the week. Thanks Mish

To: Little Joe who wrote (91484)	12/12/2008 2:19:56 PM
From: axial	1 Recommendation Respond to of 116555

Good comment. Agreed that working people should not feel obliged to accept blame for the current crisis; if workers are taking cuts, then management should, too. But if labor leadership can't understand the economic realities, then their membership elected the WRONG leaders. What they don't see is the coming decline in the standard of living, even if the US survives the immediate crisis. In that equation, businesses - workers AND management - who don't make concessions to reality will find they have driven their company over the edge. Instead of reduced compensation, they'll have no job. The party's over. Time to get real. Jim