Do You Know
Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%.
This is very bad news but we must face facts. Many of the lost jobs are gone forever, including construction jobs, finance jobs and manufacturing jobs. Recent studies suggest that a quarter of U.S. jobs are fully out-sourceable over time to other countries. [Read]
There is a method to turn around the economy and build a prosperous society: Shrink government and reduce regulation and taxes...but who believes in freedom and markets anymore. We would have to let failing automakers go out of business and allow the housing market to correct...wait, isn't that happening anyway? Well, at least the politicians are doing well, so we can all sleep comfortably at night.
Freedom; it should not be a mystery why it works.