Thursday, December 03, 2009


Robert Reich says
  • The basic assumption that jobs will return when the economy recovers is probably wrong. Some jobs will come back. But the reality is a structural change in the economy that's been going on for years but which the Great Recession has dramatically accelerated.
  • Many companies have found ways to cut their payrolls for good. They've discovered that new software and computer technologies have made workers in Asia and Latin America just about as productive as Americans, and that the Internet allows far more work to be efficiently outsourced abroad.
  • Among those with jobs, a large and growing number have had to accept lower pay as a condition for keeping them.
  • The nation will also have a harder time restarting the economy because so many more Americans lack the money they need to buy all the goods and services the economy can produce.
Thanks, Bill Clinton, you p%!&k. (another clue as to the purpose of the Dem party to those in charge of political calculations)

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