"Without a boost in job creation, (buyers) just won't have the confidence to step in and buy a new home," David Katz, principal at Weiser Capital Management said.
The same old bad news requiring simple solutions: more jobs in America which means more manufacturing in America, less outsourcing and offshoring and higher levies on imports with a reminder that roaring Indian and Chinese economies are manufacturing based.
Showing posts with label Offshoring. Show all posts
Showing posts with label Offshoring. Show all posts
Tuesday, August 24, 2010
Monday, October 19, 2009
Dow Jones at 10,000 = diddly-squat
The Dow closed at 10,092.19.
It doesn't mean that all's well on Main Street. It wasn't all well on Main Street when the Dow was at 14,000.
Dow Jones and Wall Street have been disconnected from average America and American for a long time, so we need new indicators and benchmarks linked to jobs, income, consumer confidence, savings, home ownership because our leading indicator is a false indicator.
Cost Savings is another name for staff attrition, so each job sent abroad means lower cost for companies, and lower income for America, proving what's good for Wall Street is bad for Main Street.
So either Americans need to move abroad so they can be employed which is impractical, or they should stop buying products and services from companies that send jobs abroad, which should be easy as there are many American firms who would rather have access to American markets than not.
Instead of celebrating Dow's return to 5 digits, which benefits hardly anyone except Capital without Boundaries guys, let us instead celebrate 1 day a week of boycotting job exporters and product importers.
Because at some stage what's good for Main Street has to count more as most of America lives there.
It doesn't mean that all's well on Main Street. It wasn't all well on Main Street when the Dow was at 14,000.
Dow Jones and Wall Street have been disconnected from average America and American for a long time, so we need new indicators and benchmarks linked to jobs, income, consumer confidence, savings, home ownership because our leading indicator is a false indicator.
Cost Savings is another name for staff attrition, so each job sent abroad means lower cost for companies, and lower income for America, proving what's good for Wall Street is bad for Main Street.
So either Americans need to move abroad so they can be employed which is impractical, or they should stop buying products and services from companies that send jobs abroad, which should be easy as there are many American firms who would rather have access to American markets than not.
Instead of celebrating Dow's return to 5 digits, which benefits hardly anyone except Capital without Boundaries guys, let us instead celebrate 1 day a week of boycotting job exporters and product importers.
Because at some stage what's good for Main Street has to count more as most of America lives there.
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