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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?


To: TimF who wrote (463696)3/14/2009 12:18:14 PM
From: combjelly  Read Replies (3) | Respond to of 1578294
 
"The cost of labor wasn't the only reason people where out of work but it was significant. "

You are ignoring the fact that most Americans were deep in debt. When the economy started to sour, everyone stopped spending because they feared losing their jobs and then the debt would consume them. Just like now. And then we fell into a deflationary spiral. Like is a real possibility now.

Cutting wages would have only made the problem worse, not better.