Wednesday, January 7, 2009
Unemployment is expected to rise as the figures are released on Thursday. So let's see. Is management trying to cover their boneses and over blown salaries before they must face the stockholders at the annual meeting? I can hear the charge now "Let the firings continue until the economy improves". I was just down at the unemployment office and can tell you it's a mad house with a line almost out the door. One poor guy had filed his claim four weeks ago and everytime he checks it on line it tells him his claim has not been filed. Now you'd think the powers that be would get smart and hire a few more people to process the claims. Gee wouldn't that get a few people off the rolls? In looking for work I see a lot of companies trying to position themselves for the upcoming main street bail out. There should be quite a few construction jobs by late spring or summer.
I know there are a lot of you out there who might be saying that this spending is a waste. That we shouldn't be spending massive amounts at a time of defecits but, what is the alternative? To let the whole thing collapse would have dire consequences. We already have Bushvilles popping up everywhere. Unemployment office is overworked. Food banks have empty shelves. Robberies are up and services are being cut. Bad things are starting to happen to a lot of people who paid their bills on time and didn't go on some wild spending spree.
Then there's the really bad news for retirees. Save your pennys now because after this wonderful deflation with cheap stuff and falling prices the piper will have to be paid. It may not happen for a while but it will happen.