Steve Moore, columnist for the Wall Street Journal, has finally figured out this economic puzzle. He is saying that this is not a depression and the fact is things are not as bad as we thought at all. What we are experiencing is a “Jobs Recession” and the solution is simple. Stop paying unemployment insurance. Dismiss all the unemployed and reset the economy without them.
The economy will boom…for a few months anyway. And then a new wave of foreclosures will hit. But this will be an easy fix. Another bailout, followed by a tightening of credit, followed by more business closures, more 401Ks wiped out and more people left jobless. Again, not a problem as long as they are not getting unemployment benefits. What is the big deal? Simply remove them from the equation and reset the economy. And so it goes, over and over again like wiping one’s backside on a hula hoop.
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