Subprime problem curbs job rate in U.S

[lovuian]

http://feeds.bignewsnetwork.com/?sid=276684

In the U.S, subprime-battered mortgage lenders are shutting down and fewer homes are being built.

The slowing U.S economy is now hitting the job market, and economists say it is only a matter of time before unemployment moves up on the scale.

Economists are noting that growth is at the 2 per cent mark, which is not strong enough to keep the unemployment rate from rising.

Employment will remain the economic linchpin in the United States while jobs mean pay cheques, pay cheques mean spending, and consumer spending accounts for more than two-thirds of the U.S economy.
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These economists need to take economics 101 ... A depression happens when a country's wealth is owned by a few

[Viva_La_Revolution]

1. translation...

"last week was a lull in the action. Hang on!"

[yourout]

2. "... A depression happens when a country's wealth is owned by a few...."

I call it a feudal scociety.....and that is were we are headed.

[MatrixEscape]

3. And all the while,

You will never hear mainstream mention of socialism or alternative ways to distribute wealth.

For instance, the blasphemous notion that, instead of bailing out the corporations and banks when there is a bundle or a bust, (thereby maintain a power base on the economy, jobs, and production) one could share the common wealth by considering, (at least entertaining the notion) of a negative income tax.

All things being equal, and considering an economy where a large proportion of taxes go this-away and that-away for military, aggression, etc. Who does the spending and buying in a population? The people!

So, while economists might argue why my ideas about giving the people the money to spend, (and they will spend in on something, licit or illicit, of course) would, in turn, bolster the economy and increase the need for goods and services, which would then go full circle and create more jobs and increase wages. Oh, I know, that is way too socialistic to contemplate when capitalism rules the roost and its only a matter of if you have or have not.

I would like to think of that notion as Upriver Economics. All the little streams, creeks and smaller waterways empty into the larger one, thusly keeping the level up and the flow going. When the people are subject to drought, they cannot feed the common, economic river.

Oh, but you have to have this kind of system where you skim off every ounce possible by way of gross profit, inequitable income taxes, usury-rate interest, and exorbitant wealth gathering for prestige and power. Today's, parasitic beast, capitalism thrives by exploitation of the weak and keeps them powerless, hence we drink the thick, congealing urine of trickle-down economics rather than enjoying the many, copious fruits of Upriver, collective investement.