Random Thoughts On The State Of the U.S. Economy

No beat-up intended on President Obama in the following, nor do I have an ideological axe to grind. Indeed, I've criticized President George W. Bush a hell-of-alot-more than I've criticized President Obama. I'm just calling it as I see it from the perspective of a born-and-bred American . . . .

   In New York City, manufacturing has seen more job cuts than any other sector of the city's economy. But wouldn't you think that the financial services industry would have cut more jobs in light of the fact that the financial services industry is one of the main causes of the present U.S.economic meltdown?  Obviously the Bush/Obama trillion-dollar-plus  corporate welfare program has succeeded in keeping those that are "too big to fail" afloat and most of the "too big to fail" employees safe and secure in their comfy/cushy/well-paid  jobs while the rest of us poor soaks struggle to make ends meet and feed our families. How much do you want to bet that the "too big to fail" gang will have big bonuses in their Christmas stockings this coming December while the U.S. unemployment rate hits double-digits?  I find this scenario very curious indeed . . . .  

   Also in New York City ( the "financial capital of the world" lest we forget), the majority of job cuts are in the low-wage sector and the cuts have disproportionately affected African Americans as opposed to whites and other ethnic groups. In other words, those in financial management and banking positions have not been affected to the extent that lower wage earners--who actually perform a job-task that is verifiable I might add-- have been affected. It always seems that those that live paycheck to paycheck, and who need their jobs the most, and cause the least problems, in the workplace and for society as a whole, are always the first ones to get laid off. Why is that?

   The national unemployment rate is almost 10% and it's significantly more than that in various regional economies. As of today, 24% of voters think that economy is getting better. 21% of voters believe that their finances are getting better. 31% of voters  think that their personal finances are good to excellent.  75% of voters are happy with their job and only 28% are worried about losing their job.

   I'm sorry for the above "bold" type!  I always make a sincere attempt to never let that happen . . . but as an American, the above statistics blow my mind!   

   What blows my mind is that 24% of the voters polled think that the U.S. economy is getting better and 21% of them think that their personal finances are getting better and 31% of them think that their personal finances are good to excellent. Who are these voters anyway? I certainly haven't come across any of them recently. Have you? Perhaps  most of them work in the "financial services" industry and the rest of them work for the U.S. government. What a scam and how easily Americans and the rest of the world  forgets . . . .