Do You Have A Job?
Many people don’t. Thankfully, I do. Today’s jobs numbers just reveal what everyone already knows: the economy sucks. It doesn’t matter if the Dow hits 20,000 and the S&P hits 5,000, mainstream is still struggling big time. We are increasing becoming an economy with two different worlds. In one world, Wall St. and other large corporations are making huge profits due to lowered costs (lay offs), cheap money, government backing and global revenues. Meanwhile small businesses are still in survival mode with no hirings on the horizon, business owners taking more day to day responsibility to cut costs, and slumping revenues. Furthermore, main stream is still underwater on their homes and are barely hanging on day to day.
Interestingly, I thought today’s job number was going to be very positive with a ton of job creation strictly due to seasonality (Holiday hirings). Not so much.
It’s truly a bizarre economy. Sadly, the “wealth gap” between rich and poor is definitely getting wider. This will always be the result of government bailouts since people like Goldman Sachs executives are the primary beneficiaries of such programs.
Welcome to the new normal.