Some basics on the economy

Posted on September 4, 2012

Very good and very scary (that’s why it’s good, IMHO…) post by Ian Welsh on the economy. From the post:

1) the majority of new jobs are bad.

2) the economy has still not recovered all lost jobs, either in absolute #s or as a percentage of the population

3) so there are fewer jobs, and what new jobs have been created are worse. They pay worse.

4) The upper middle class job market has recovered, which is why those folks are no longer panicking and are telling you that the economy isn’t so bad as all that.

5) the failure to force the rich to take their losses and to break up the banks means that the same people who caused the 2007/8 financial crisis still control the economy and the government.

Read more at http://www.nakedcapitalism.com/2012/09/some-basics-on-the-economy.html#kzBH1Bb5mxZysIPK.99

Share

Be the first to leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>