Friday, March 12, 2004

I saw this and I thought, that's easy for Greenspan to say, he's got a job. Sure, historically free and open trade has benefited the U.S. consumer and the economy in the long run but this outsourcing is getting out of hand and this jobless recovery has gone on far longer than any other period of job loss or lack of job creation since the great depression. This is not a typical economic cycle and eventually if no one here has money to buy products it's going to lead to an overall drop in demand and prices i.e. deflation.

It's like I heard someone say on a radio program. Oh sure, it's great that the shirt at the store costs less than it did before but if I don't have a job I can't buy it anyway.

Greenspan sees jobs picking up
By Sue Kirchhoff, USA TODAY
WASHINGTON — Federal Reserve Chairman Alan Greenspan said Thursday that the job market should brighten soon, and warned against protectionist efforts to prevent U.S. jobs from moving overseas. - Greenspan sees jobs picking up

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