Bleh. CNBC and the rest of the financial world totally is off their rockers.
I mean, think about it. The Dow Jones breaks 10,000 and people think that the economy is turning around. But in all reality, that’s an indicator of shareholder confidence in the corporations after the huge government bailouts. Not only is the dollar weak now against other currencies but it’s not likely to be any better any time soon with all the surmounting debt. But if you don’t watch the financial markets and actually just buy into your mainstream media, let me put it another way… do you think this will survive in the long term? Especially with the holiday season coming?
Think about it. Job loss is at an all time high, and corporations are not producing any more hiring. The jobs that are taking place are the entry level, non-education based while the educated workforce is laid off. On top of this, the government itself doesn’t hire civilians unless you have military discharge papers (go and try to apply and when you finally finish the entire application, you might be surprised at what you need to submit). So with all of this coming and locally, we’re losing 900+ jobs from the Dell plant closing, that means there is less money to pay for … yes, gifts. Less work force also means less taxes, and less potential profits for retail. Retail has a trickle-down effect upon anyone that supplies or transports for that industry.
In essence? Stocks that do well don’t mean jack diddly. If there is anything that it does mean, it means that the senior management is even less likely to hire. Why? Simple supply and demand. If they can squeeze the effort out of the current work force with the threat looming of job loss, and provide greater revenue for their shareholders, there isn’t one single event that could show why they would want to expand status quo unless it’s to squeeze more people with more work. And the way things are going, the stimulus money wasn’t just a wasted effort in my opinion, but it could have lead to more job creation from the government itself. Whatever happened to when we fought wars and provided jobs?
In the end? It seems like the only ones that win in the end are those that are in the upper social stratosphere. Where most want to be, but few ever achieve.