The hard truth is we're addicted to cheap products from China. And that’s where all our jobs went. Decades of productivity improvements also made it possible for companies to produce more goods using less labor. Big business and government have been relentless in killing off organized labor. Multinational corporations continue to optimize their profits through worldwide labor exploitation, regardless of how people’s lives are affected.
So we’re stuck with too many people. I believe we’re in for a long ride of high unemployment until those people retrain or emigrate to another country for employment opportunity. Unfortunately, most prosperous countries won’t take immigrants- even from the US.
Also, the economy is stalled because people are not buying on credit, much to the chagrin of the banking industry. If we continue to retrench down to an economy based on less debt, unemployment will persist while we wean ourselves off of the greatest ponzzi scheme of all times- artificial growth based on over consumption through debt spending encouraged by the Federal Government, Wall St and the megabanks.
But wait, the GOP has the solution (uh, the final solution?). The GOP would have us return to the good old days. Daylight savings time is coming to an end- so turn your clocks back a hundred years! They would eliminate all taxes, all regulations, and have government just get out of the way. Forget the very sick, the very poor, and the very old people. They will just have to hurry up and die, because the GOP sees them as acceptable collateral damage in exchange for liberty. This was exemplified by the shouts from the Tea Party crowd at the Republican debate last Monday when candidates were asked what to do about a 30 year old sick man without insurance- They shouted, “Let him die!” That’s not a solution. That’s disgusting.
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