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Congratulations, your misery is fueling the economy!

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uberblonde Donating Member (993 posts) Send PM | Profile | Ignore Wed Jun-30-10 03:19 PM
Original message
Congratulations, your misery is fueling the economy!
http://crooksandliars.com/susie-madrak/test-16

The 6.8 million Americans out of work for 27 weeks or longer -- a record 46 percent of all the unemployed -- are providing U.S. companies with an eager, skilled and cheap labor pool. This is allowing businesses to retool their workforces, boosting efficiency and profits following the deepest recession since the 1930s, and contributing to a 61 percent rise in the Standard & Poors 500 Index since March 2009.

Companies are getting higher-productivity employees for the same or lower wage rate they were paying a marginal employee, said James Paulsen, who helps oversee about $375 billion as chief investment strategist at Wells Capital Management in Minneapolis. Not only are employees higher skilled, you have a better skill match. You have a more productive and more adaptive labor force.

Falling wage pressures will help keep inflation low, contributing to lower Treasury-bond yields, according to Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. He forecasts 10-year Treasuries will yield about 3.1 percent in the third quarter, compared with 4 percent in April.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:23 PM
Response to Original message
1. And here I thought it was all the fault of illegal aliens.
Not really.
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Orrex Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:24 PM
Response to Original message
2. I'm so pleased to be a part of the recovery.
I remember, way back in high school, when I met with my Guidance Counselor and said "Mr. Parry, someday I want to be an anonymous, underpaid cog in a machine designed to funnel huge palettes of cash directly into the vaults of the super-wealthy."

"Orrex," he said, "if you work hard and really apply yourself, you may achieve that dream someday."


And that day is today! Huzzah!
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CrispyQ Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:38 PM
Response to Reply #2
3. ~hoot
:rofl:
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TheKentuckian Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:48 PM
Response to Reply #2
6. sums it up quite well
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JHB Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:42 PM
Response to Original message
4. The Banality of Evil
People are out of work, lives are thrown into chaos...

...But just look at out ROI! The market is up! That makes it all OK!
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Uncle Joe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 03:45 PM
Response to Original message
5. Yay! Misery rocks!
:yourock: :bounce: :woohoo:

Thanks for the thread, uberblonde.
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