Also agree that corruption was worse in the 40's and other era's.. I love when people bring up how bad things are "today" when there were far worse times than these times... however, what is different about today that is making it more difficult to recover is we are in a global economy where there is a major trade deficit, a tremendous amount of outsourcing of American jobs and therefore there is competition for jobs on an international playing field.
Note also that China is now the second biggest economy and they are heavily invested in the US
I'm not saying we won't recover.. its just gonna take longer.. but the capitalist system always recovers...
As far as collecting unemployment and working off the books go... of course if a person can get more on unemployment than the menial job at McDonalds.. they are going to continue to collect...
I never really considered the point you made, somebody's entitlement is another person's job.
ReplyDeleteGreat segment!
Also agree that corruption was worse in the 40's and other era's.. I love when people bring up how bad things are "today" when there were far worse times than these times... however, what is different about today that is making it more difficult to recover is we are in a global economy where there is a major trade deficit, a tremendous amount of outsourcing of American jobs and therefore there is competition for jobs on an international playing field.
ReplyDeleteNote also that China is now the second biggest economy and they are heavily invested in the US
I'm not saying we won't recover.. its just gonna take longer.. but the capitalist system always recovers...
As far as collecting unemployment and working off the books go... of course if a person can get more on unemployment than the menial job at McDonalds.. they are going to continue to collect...
Definitely a good discussion... thanks