May 21, 2009

A World in Which Most People Don't Have Jobs

The following is evidence that the Wall Street economic mindset still persists:

Jobs are likely to remain scarce through next year and maybe beyond that even though the overall economy seems to be picking up.

Apparently, jobs are not part of the overall economy.

Taking this mindset to its logical conclusion, we can envision a day when very few people have jobs. I presume the many people without jobs will have the resources they need to survive and even thrive. Sounds like a Utopian socialist society.

Psssst... Do Something

Sources:

Associated Press, "New jobless claims drop, benefit rolls reach 6.7M," Christopher S. Rugaber, AP Economics Writer, May 21, 2009.

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4 comments:

Dusty said...

Well, the Repubes think Obama is building his socialist society where all the non-repube folks are on the dole and the Repube folks tax monies go to support them.

I have wondered about how in the blue hell the economy can get better if the job situation doesn't. don't we need money to buy things? Or will we just have big ole riots and steal what we need?

I am rambling..its been a long day for moi. ;)

libhom said...

Dusty: You are making a good point. Economic growth for the few and suffering for the many is a potent recipe for social unrest.

Dusty said...

My county has the highest unemployment rate in Cali..over 15%. Our worker base is largely uneducated Ag or Oilfield workers.

One of the consequences is that we also have one of the highest mortgage default rates in the nation. If you have done nothing but Ag or Oil work your whole life..what do you do when the shit hits the fan and its all gone?

GDAEman said...

Excuse me for self-promoting, BUT... ya oughtta take a listen to the first segment on Episode 13 of GDAE Podcast... a reading from Peter Kropotkin, 1880 on a Revolutionary Moment... Could have been written today.

BTW, is "oughtta" a word... suppose NOT in Scrabble.