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Lousy Jobs Numbers Show It's a Bad Time To Play Debt Politics

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Lousy Jobs Numbers Show It's a Bad Time To Play Debt Politics

Post by Guest on Fri Jun 03, 2011 12:41 pm

One lesson we learned—or should have learned—from the economic collapse is how the whole economy is held hostage by the pirates of Big Finance. If they freak out, economic contraction follows. (We've also seen that they can rebound much faster than the average working-class mug. Corporate profits were soaring two years after the 2008 calamity, yet unemployment remained stuck at historic high levels.) When Wall Street catches a cold, it can cause a pandemic for the rest of us. This unhealthy—and abusive—relationship might call for fundamental restructuring. But until then, Main Street does rely on the credit flow manipulated and exploited by Wall Street.

http://motherjones.com/mojo/2011/06/may-jobs-numbers-losses-debt-ceiling

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