The job numbers reported for December were down -85,000; a very disappointing result. It seems layoffs are slowing down but no new hiring is coming on line. I would like to take this opportunity to review my opinion on this over the last six months.
On December 2, 09
The Second Wave of Unemployment
Those of us who took a wait and see approach will generate another wave of layoffs. It will not be the thousands from a single large plant that makes national headlines. It will be a dozen here and a few there as the small businesses across America face the reality. Some will throw in the towel and just close; some will be forced to close or sell at bargain prices because of a lack of credit, others will finally get small enough to survive.
Either way private wealth (and the taxes it generated) will be destroyed and unemployment will continue to climb.
November 9, 2009
Unemployment Hits Double Digits
This president and his Congress are absolutely clueless about creating jobs. While they argue about how many jobs they have created, they miss the obvious truth.
The government, regardless of party, has never created a single job. Every job ‘created’ in the public sector has been at the expense of at least one job, probably more, in the private sector.
July 30, 2009
You have to be an economic moron not to understand that this will sharply curtail economic growth, investment and hiring. Any of these changes would have an impact, but the collection of such disincentives has a staggering impact on the decisions of small businesses.
Unless this direction is changed unemployment will soar and economic growth will stagnate for a long time.