Daily Archives: September 10, 2012

America can’t afford to live beyond its means

Friday’s job numbers from the Bureau of Labor Statistics are just another one of the many painful reminders of the recent economic collapse and ensuing recession.

In the month of August, three times as many workers left the job market as found jobs. There was no wage growth and the vast majority of jobs gained were low-paying, and most were jobs serving alcoholic drinks, indicating a trend towards escapism. This is the fourth month in a row of dismal jobs numbers that on the surface seem hopeful (the unemployment rate fell from 8.3 percent to 8.1 percent), but are discouraging when you look into them.

This begs the question: Why is the economy still so bad? Continue reading

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