I can’t say that I can totally agree with this economic analysis, though I think all good Students should read it, and obtain their own impression. The N.J.T.C. may have actually helped the low-income laborer, while I imagine it did far more for the development of Temporary labor services. I think it could be a greater advantage to give a $400 Tax Credit for every laborer kept longer than the current Tax Year. This Tax Credit would underwrite Business desire to more fully exploit Market potentials, while concurrently paying industry for both Past and Present Employment. Business would hire exploitive Labor, and pay for the increased Payrolls by a Savings on all Labor Costs.
Mike Shedlock can gives you a fairly good assessment of the economic state. The Markets are still in disruption, and economic decay has yet to seriously impact the Traders; all of them focused on the Banks. Lower economic data can only further twist Investor confidence, and a stable economic structure will not be found quickly, no matter what level of Price. We can certainly expect a decrease in GDP within the next Year. The lack of Consumer Interest relatively negates the overwhelming need to end the Credit Crisis, as Business will not be borrowing in the near future, and Homeowners will still be unable to avoid their mortgages. It is doubtful whether Bush, McCain, or Obama can come up with any economic policy which will help.
Andrew Lahde took the Money and ran, and even did it when it was still kosher to do so. I would not have insulted either Investors or Contemporaries, as One might have to reenter the Markets again in the future; no Retirement Plan has real lasting value in this Age of Population Pressure. Still, his advisory should be retained, to provide an alternative evaluation of the Origins of the Credit Crisis. I hope Andrew enjoys his Vacation, at least until Inflation catches up with him. I wish I was as sanguine about where my new Paycheck was coming from (Hint: I rely on the Government). lgl
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