80,000 Layoffs For Wall Street
Tens of thousands of additional American jobs down the tubes, according to Meredith Whitney:
Notice, at about 1:29, when she notes that government purchasing (that much-hyped “stimulus” spending) has actually accelerated the problem.
I’d actually argue that there was nothing we could have done to prevent the recession we’re in right now. There’s nothing we can do to fix it either. We could mitigate the damage by ending government attempts to manipulate and “rescue” the economy. We could further mitigate the recession by promoting pro-growth policies such as tax law simplification, tax cuts and (most importantly) reductions in government spending.
But we can’t fix the economy. We’re going to have to ride it out. Because the recession we’re in is a market correction that’s fixing a market bubble created by government intervention in the markets.
Tags: Economy, jobs, wall street
