Monday, September 12, 2011
Global Jobs and Labor Participation
The Economist has a decent story with graphics (see left) on global jobs and the biggest employers in various countries.
(see full link)
The Lame Stream Media (LSM) assures us that "the recession is over" or "green shoots" of economic growth are forming around the US.
This is absolute dross!
No recovery EXCLUDES job creation. And those in the LSM are so DIVORCED from the real economy that their only interaction is through picking up their car at the local Manhattan parking garage. Most of these anchors are personalities with multi-million pay packages and little or no understanding of economics.
The local channels here in New York City are so terrible with news coverage that many stories are almost like infomercials. World News Tonight on ABC (Disney subsidiary) RARELY shows WORLD stories, rather extends US news in their pathetic world coverage.
Jitters in Europe due to the ongoing Greek tragedy and banks REAL EXPOSURE to sovereign debt will continue well into the end of the year and beginning of 2012. Spain, Portugal and Italy will contribute to the banking crisis in Europe and as the US sluggish economic activity continues U-6 will rise.
As the clowns in DC bicker and back bite their way through late 2011 and ALL OF 2012 US citizens will get increasingly unstable in their attitudes toward DC and politics in general.