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If We Don't Solve the Jobs Crisis We May End Up With Our Streets in Flames and Society Dysfunctional

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-11-11 06:01 AM
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If We Don't Solve the Jobs Crisis We May End Up With Our Streets in Flames and Society Dysfunctional
http://www.alternet.org/economy/153000/if_we_don%27t_so... /

Employers added fewer jobs than was forecast in October, which lots of folks scratching their heads over what to do about it.

In response to the latest unemployment figures, our nations central bank, the Federal Reserve, has again begun talking about additional stimulus measures, such as the purchases of mortgage backed securities (MBS) or a bond-buying program known as QE3. But neither of these measures worked before, so why should we expect more success this time?

The Feds policies are akin to putting a Band-Aid on a massive bleeding wound. Right now, the US economy is crushed by massive private indebtedness and sluggish job growth. What we really need are policies designed to promote job growth, so that people can service their debts and become open to spending again. Admittedly, the Fed isnt the only problem. Our whole constellation of policy makers the Fed, Congress, the Treasury and the White House keep obsessing about the faux costs of the growing budget deficit, rather than the real costs of long term unemployment. And if they dont give up this flawed economic thinking, then the burning streets and mass riots happening in Europe may soon be coming to a neighborhood near you.

The Feds Misguided Focus....

more at link
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Not Me Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-11-11 06:05 AM
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1. I couldn't agree more.
rec
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-11-11 06:20 AM
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2. k & r
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