Trickle-Down-Voodoo-Neocon-Global-Economics

With only part of their economic plans in place, it’s time we take a quick glance at the conservative idea of an unregulated capitalistic system of government. The kind of government not referenced in the Constitution, yet something the founding fathers must have had in mind anyway. According to the NY Times:

The unemployment rate surged to 5.5 percent in May from 5 percent, the largest monthly spike in more than two decades, as the economy shed 49,000 jobs for a fifth month of decline, the Labor Department reported. The labor market is continuing to deteriorate, eroding the size of paychecks, just as gasoline and food prices surge, and as the declining value of real estate erodes the wealth and credit of many households.

The overall economy could remain mired in trouble for some time…1.55 million had been unemployed for 27 weeks or longer…The fall of real estate prices…spread to the construction industry…homeowners who are no longer able to borrow against the values of their houses have been cutting their spending, shrinking sales at shopping malls, grocery stores and home improvement outlets…prompted businesses to cut payrolls, taking more purchasing power out of the economy…Construction again led the way down shedding 34,000 more jobs. Professional and business services — which includes lawyers, accounts, architects and management consultants — declined by 39,000…Manufacturing lost 26,000 jobs as the sector continued its steady decline…Retail payrolls shrunk by 27,000 jobs, and transportation and warehousing by 10,500. Economists predict this will be the weakest summer job market for teenagers in at least 60 years.

The percentage of working age-Americans employed dropped, and years of weak hiring have made some companies so lean that they have few people left to cut…In recent months, many companies have been cutting the working hours of those on their payrolls and generally avoiding layoffs…The slowing of full time work to part time, coupled with a net loss of jobs, was taken by some economists that businesses are running out of hours they can cut: Now, they are faced with the possibility of layoffs…This is what happens when an economy grows solidly below trend for six months..Employers cut back first on hours, then on jobs.

Republicans will explain that all the above problems occurred because a few destructive liberal laws were still in place, screwing everything else up. If memory serves me....