by Jim Quinn and Allison Linn, The Burning Platform:
“Facts do not cease to exist because they are ignored.” – Aldous Huxley
Six months ago I wrote an article called Are You Seeing What I’m Seeing?, describing my observations while traveling along Ridge Pike in Montgomery County, PA and motoring to my local Lowes store on a Saturday. My observations were in conflict with the storyline portrayed by the mainstream media pundits, Ivy League PhD economists, Washington politicians, and Wall Street shills. It is clear now that I must have been wrong. No more proof is needed than the fact the Dow has gone up 1,500 points, or 11%, since I wrote the article. Everyone knows the stock market reflects the true health of the nation – multi-millionaire Jim Cramer and his millionaire CNBC talking head cohorts tell me so. Ignore the fact that the bottom 80% only own 5% of the financial assets in this country and are not benefitted by the stock market in any way
It is simple....with the FED pumping money into the system it runs up stock prices. Add that to the fact that ALL companies are shedding workers and/or not hiring people due to the looming Obamacare nonsense and you have record profits. Good for investors with money but bad for the lower income people....at least those that WANT to work.
"we are not gaining enough jobs to cover incoming new workers"
This is not true if you also consider the workers leaving the workforce through retirement. We are also gaining housing and manufacturing jobs that tend to be higher than minimum wage so that is not the best argument either.
I know you guys have things you want to believe about the economy but most are not supported by what is actually going on. Plus, if you are concerned about how little people are getting paid then call your coongressman and tell them it is far past time to raise the minimum wage.
northvis...we are not gaining enough jobs to cover incoming new workers and most of those new jobs are low pay part time jobs that don't require to be covered under Obamacare. Just check out the Dailylayoffreport and you will see the 'good' jobs going away and being replaced by part time jobs. BTW I can't reply below to your post as all I get is some number code show up when I hit reply
oropan: If companies aren't hiring, why do the added employment numbers increase every month? All companies shedding workers? You should take some time and read what the ACA is all about instead of reading that conservative liars blog.
fron70....We already tax the rich at high rates and have just raised their tax. And the US has the highest corporate tax rate in the world. And all taxes on corporations is passed on down to you and every other poor s. o . B