SHOULDN'T BE SURPRISED: Jobs Report: Bad - MarketBeat - WSJ
As Bill Gross said on Bloomberg today - we shouldn't be surprised with this jobs report.
The government has followed a program of borrowing to support consumption and is not supporting investment into job creation.
It's the old Democratic Keynesian belief that higher taxes and don't impact investment decision-making and that businesses will create jobs no matter how much money is taken from them to support social programs.
Clearly, the Democrats are blind to what such policies have wrought in Europe - because, it doesn't fit in with their redistributionist beliefs of the belief of unions that labor costs don't matter to job creation or job sustainability. Well, maybe it will be harder for Dems to argue that their policies are working as time goes on; but, meanwhile, those who'd rather work than rely on government handouts are having to suffer.
Friday, June 4, 2010
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