How to get America working again?
How to get America working again?
The country faces the prospect of long-term, double-digit unemployment. Even after growth returns, many jobs won't. Managers, supervisors, councelors, nurses, clerks, cashiers, lawyers...20, 30, 40 or 50 and 60 of years old, everyone is affected, men and women of every colour and every race....there is no discrimination, but there is no opportunity..where will jobs come from?Don't worry, the country has good infrastructure and culture to create poster innovation. It may not return to its glory of 90s, but it can feed its people and help them lead a comfortable life. We use lot of things that we don't really need (bigger houses, big cars, boats etc.), maybe some of that will have to be sacrificed.
I agree unemployment is high, and states like Michigan may have tough time recovering it (check unemployment trend for Michigan, it looks like a ladder - http://fileunemployment.org/michigan-unemployment), but new kinds of jobs will be created elsewhereHere's Nobel Prize winning economist Paul Krugman's answer on how to get America working again. (In a nutshell, we need another stimulus package if we aren't willing to wait 10 years for employment to get back to normal levels..)
http://www.nytimes.com/2009/11/02/opini … ef=opinionGet rid of your huge trade deficit! The USA is at the mercy of all the large foreign owners of US Treasury Bonds in the Middle East and in China and Japan. If they decide to pull the plug the US dollar will plummet.
Remember not so long ago there was a move to setup in Dubai an exchange to trade crude oil in euros - not in US dollars. If another similar move takes hold in the future you can kiss the US dollar goodbye... (In case you're wondering - I am Australian).
