Thursday, February 16, 2012
While everyone goes back and forth arguing over what a recession is, it obscures an important point. We are not in a recession and haven't been for a long time. Corporate profits are quite healthy. Productivity is healthy. The stock market is healthy. What isn't healthy is the job market. The irony then is the fact that we can lay the blame for our current morass on one place and one place only. The Job Creators®. For a bunch of folks who insist that the government can do no right, the current crop of Republicans are sure spending a lot of time blaming the Government for a situation that's directly under the control of the private sector. But as I've said before, when you're a purchaser of labor, high unemployment is a feature, not a bug.