IT’S SIMPLE MATH
Cold economy all about job loss
Dear John: You recently said Janet Yellen, the Federal Reserve head, commented that “even the economists are puzzled” as to why the economy is running cold.
Maybe I’m simple, but if you take the bulk of the jobs away from the bulk of the people, then you take the bulk of the spending money away from the bulk of the economy. It’s all simple subtraction.
Currently, at every opportunity, everything available is being moved offshore. Just listen to the billionaires on “Shark Tank” deride anyone who asks for money about why they haven’t moved offshore.
They almost had one poor guy in tears because he was trying to keep his production in town to help the local economy.
They mocked him and made him look ignorant. This is what the rich think of their country, and this is their idea of “giving back.”
Sorry to get lost, but it hurts medeeply to see the rich and big corporations feel no patriotism when their country is in trouble.
Anyway, the alleged economists need to more fully examine the effects of the loss of all the middle-class jobs.
Politics allowed a whole section of the economy to be removed and they expect it to recover? There are some simple solutions I think, but that’s for another time. M.C.
Dear M.C.: Those damned sharks!
You make good points. The reason Janet Yellen doesn’t understand is because she has a lot of yes-men and yes-women telling her what they think she wants to hear — and that is that the economy is either doing all right or that it isn’t doing all right, but it is not the Fed’s fault.
The boss feels better about herself and the underlings get to live another day.
Anyway, I’ve been telling readers for years about the falseness of the jobs figures. And after eight years or so of very weak growth, you’d think people would finally figure out that the number of jobs that have been created is inadequate, and that the jobs that have been created aren’t of top quality.
Yes, many, many jobs have gone overseas, where people get paid less. But, really, if you are a businessman, how can you avoid this without hurting your shareholders?
Keep the faith.