Quote:
Originally Posted by Paul Markham
All those employment stats are bullshit. What counts is wages. Losing one paying $50k and replacing it with two paying $20k is a loss of $10k to the economy. Figures are an example. Principle is sound as Income tax drops so borrowing climbs.
|
This might be true, but... Reality sucks, get a helmet.
I am not sure how the recession went down in Europe, but here in the United States it sucked the wind out of us. People lost their jobs, their houses, their investments, their life savings. Just because the recession is over doesn't mean everything goes back to where it was before the recession. My house lost two thirds of it's value, and seven years later it's still worth less than half of what I originally paid for it.
This is not a four or eight year problem. This is a ten to twenty year problem. The primary goal is to get people back to work, and this has happened. Eventually wages will return to normal levels.
People have quickly forgotten how bad it was. People complain about the economy, but keep in mind six years ago we were at 10% unemployment.