Originally posted by: rchiu
Originally posted by: CADkindaGUY
Nothing - doom and gloom were my comments on what was quoted. The Wells Fargo business thing was just an added "yup the sky is falling" addition
news story - only 2000 new jobs - but will move 3300 current employees to the building from other locations.
Dave - I will continue to counter yours and other's daily proclamations that the sky is falling. I notice you posted an almost upbeat view of things but then reverted back to bashing big business. Big business provides jobs - Walmart being successful doesn't only mean some guy/girl will make $7 as a cashier - it means truckers will drive, manufacturors will still produce, and yes since they import alot of crap, the dock workers will have something to do
Mah - I'm just plain sick of people only looking for and looking at the "bad" - I firmly believe that is exactly why this recovery has taken so long to get it's feet under itself. The constant parroting of "bad" news only scares people into doing things they wouldn't normally do.
dismiss me as an optomist if you wish but it isn't neccessarily the case. I'm more of a realist who has had to resort to posting optomistically to balance out the doom and gloomers
CkG
Yeah, just make sure you optimist don't do that to make your president looks good and ignore the problem we face today. If we doom and gloomers were wrong, hey no harm done, the world is still a nice place. But if you guys were wrong, we missed the opportunities to recognize and solve the problem before it become really damaging.
Did we have a recession? yes we did, during the 2001/2002. Is the economy better now? yes it is, based on GDP. But before you go and celebrate, you should know significat part of current GDP growth is because of this war we had and the large spending on the war against terrorism. And lot of those money we spent are borrowed money, and if the rate of economic recovery does not translate to government revenue to offset those borrowed money and interest, we are worst off then before. How those billions and billions of dollar we spent in Iraq is gonna translate to government revenue is beyond my comprehension, may be the Bushies in this forum can educate me on that.
On a seperate matter from GDP growth, our employment situation is still not well. We already have a term "jobless recovery" for this economic recovery on the street. Yeah we had one good week of decent unemployment insurance claim, but people ususally take the 4 week moving average as a better indicator because one week of data is just statistically insignificant. We finally have one month of positive jobs growth after 8 month of negative job growth. But that is still not enough to say the trend is reversing. We are still at 6.1% unemployment rate, should we wait until the rate hits 8% to start worry about it?
I don't know where you work but the company I work for, a fortune 50 company, is handing out hundreds of good paying IT jobs to foreign workers. Even if companies need more people, they are not gonna hire more American, they will just go and get more cheap foreign workers. Same thing goes for manufacturing and some of the accounting and analyst positions. Before this outsourcing trends started, at least we had foreign workers coming to America to both work and spend. Now we have foreign workers sitting at a desk thousand miles away from the US, earning US dollar, but spending on local economy. Tell me how that is not gonna be bad for our economy?
Just face it, there are too many ways now for a company to exploit wage earners and the unemployment rate is not gonna pick up significantly anytime soon. Not unless there are enough of us doom and gloomers complain about it and do something about it.