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Wednesday, December 23, 2009
Bankruptcy and Fiscal Collapse,Global Economic Crisis Tipping Point Forecast for Spring 2010
I do not believe that the recent jobs report is really anything to get very excited about. If you take a deeper look into the data you will find that much of the increase in employment was temporary employment during the last couple of months of the year. I believe that much of the current employment problems stem from a lack of real wealth creating companies. Untill the country gets away from all the jobs in the financial service sector. I believe that the unemployment situation will not improve. Jim Rogers has stated this in many of the interviews that he has given to the news media that the financial services sector is much to large. Jim Rogers also believes that the savings rate must be much higher if we are to sustain any high degree of economic growth. Many retailers can make a lot more money loaning money to their customers at 20% interest on a credit card than they can make selling product to their customers. What does that tell you about jobs.
3 comments:
Merry Christmas Mark
Hi Hopper,
Marry Christmas to you also!
Regards,
Mark L.
I do not believe that the recent jobs report is really anything to get very excited about. If you take a deeper look into the data you will find that much of the increase in employment was temporary employment during the last couple of months of the year. I believe that much of the current employment problems stem from a lack of real wealth creating companies. Untill the country gets away from all the jobs in the financial service sector. I believe that the unemployment situation will not improve. Jim Rogers has stated this in many of the interviews that he has given to the news media that the financial services sector is much to large. Jim Rogers also believes that the savings rate must be much higher if we are to sustain any high degree of economic growth. Many retailers can make a lot more money loaning money to their customers at 20% interest on a credit card than they can make selling product to their customers. What does that tell you about jobs.
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