JOBLESS RECOVERY: "By their lights, the perfect recovery would necessarily be 100% jobless."
found this from 2010:
Paying the workers in society to produce real wealth costs money. Capitalists hate any sort of cost. It represents money that has somehow escaped their coffers. So when any behemoth corporation hands out thousands of pink slips on a Friday, Wall Street cheers and "the market" goes up. No ordinary mortal has ever seen "the market." But traders on the floor of 11 Wall Street, people who've deemed themselves more than mortal by virtue of their $110 Vanitas silk undershorts, assure us the market does exist. No tours of the New York Stock exchange are permitted, so we have to take their word for it.
In any case, in the money economy, eliminating costs, even if those costs happen to be feeding human beings, citizens of the empire, is sublime. That is why economists in the tertiary economy can declare a "jobless recovery" with a straight face. By their lights, the perfect recovery would necessarily be 100% jobless. Human costs of generating profit would be entirely eliminated.
http://www.alternet.org/story/147501/joe_bageant:_our_plunder_of_nature_will_end_up_killing_capitalism_and_our_obscene_lifestyles?page=entire
= new reply since forum marked as read
Every recovery since 1980 has been a GDP recovery without a recovery in median income.