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Sunday, July 8, 2012

Wall Street Loves Cheap Foreign Labor and Profits, then Whines about Weak U.S. Hiring.

You don’t have to know much about investing or Wall Street to know, that after encouraging and profiting off corporate offshoring and cheap foreign labor, that it’s a bit hypocritical to act surprised we’re experiencing slow job growth.

I mean really, let’s get serious;
AP: The Dow Jones industrial average fell 124 points, wiping out its gain for the week, after the U.S. government reported that only 80,000 jobs were created in June. It was the third straight month of weak hiring.
And the bright spot…longer work hours?
BRIGHT SPOTS: There were a few bright spots in the bleak jobs report, according to Sharon Stark, chief market strategist at brokerage firm Sterne Agee. She says the number of work hours and average hourly earnings increased last month.
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1 comment:

  1. BLAME THIS COMPLELTY ON THE REPUBLICONS!July 8, 2012 at 7:27 PM

    It's interesting. No jobs to buy products yet they sell thinking that better times are down the road to buy. Yet what we see may be the new norm. With the Republicons blocking every opportunity for job creation and no natural stimulus for greater growth ( housing market ) the demand for products just isn't there. Now we have another banking scandal looming suggesting that evey interest rate applied to loans was but a mirage. What will be the new stimulus- well new transportations and energy infrastructure would have been a great start. ALAS - lost opportunities.

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