They didn't panic and FIRE EVERYBODY like America did. I read an article on this last year -- about how France and Japan and lots of other countries have workers' rights and laws in place which protects them from just this type of massive lay-offs and firings. And their economy only suffered percentage points as opposed to America's steep drop... plus it took those countries much, much less time to recover.
JOBS are the whole deal. If people are still working - even if the economy takes a nosedive -- at least people still remain in their homes, they're still buying groceries, gas, etc.
And along with this whole concept, guess what? BECAUSE all these Americans lost their jobs, American corporations are posting RECORD PROFITS and record productivity. Because they don't have all those salaries to pay now, or the medical benefits or retirement funds to pay into - that money is going straight into the pockets of the shareholders and CEO salaries. And people are doing TWICE the work they were previously, because they don't want to lose their jobs.
America's corporate structure really sucks.How did the countries that avoided recession stay out of recession in a Global Financial Crisis?In the case of China, they have all our (US) manufacturing jobs. In the case of India, they have, or are quickly getting, all of our customer service jobs. The "trickle down" abomination promoted by radical conservatives has nearly destroyed our entire economy and it's still in shambles right now. Here in California, we have over 12% unemployment and it has been there for 2 or 3 years now.How did the countries that avoided recession stay out of recession in a Global Financial Crisis?Maybe they didn't spend like drunken bankrobbers like our current government, telling its idiot citizens that it creates jobs and improves the economy.How did the countries that avoided recession stay out of recession in a Global Financial Crisis?Borrow money from China.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment