Friday, April 3, 2009

Massive Job Losses since November Elections

The news is coming in that the US has lost 3.3 million jobs in the past five months:
http://news.bbc.co.uk/2/hi/business/7981607.stm

Couple of things to note. For one, this is not the creation of 3.5M jobs that the stimu-less plan per B.O. claims will happen. But I guess if those 3.5M jobs are regained, will they claim success on that basis or do we now need to regain 6.8M jobs for success to be claimed? Regardless, what I do know, is that no matter what, no one in Washington will be held accountable for the $800 billion dollar stimu-less package. Yet, they cry foul when AIG execs get $160 million in bonuses.

Second thing, is anyone correlating why this sudden accelerated job loss jump started 5 months ago? What happened 5 months ago? An election of B.O. and other socialist cronies perhaps?

As I predicted in an earlier blog, increasing taxes and regulatory costs on companies is going to lead to one of a few things: 1) companies start cutting costs/jobs, 2) companies start raising prices, and/or 3) companies go bankrupt.

Businesses saw the writing on the wall 5 months ago. The stimu-less bill and early actions of the socialist driven B.O. administration and congress are proving their worst fears. Businesses have been reacting by cutting jobs. What's worse, is that prices will also increase now that B.O. and crew are printing an extra $2 trillion in money. Any lessons learned from the Weimar Republic (http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic)?

Massive job losses and inflation...direct results of businesses responding to a business unfriendly socialist government and a government that prints money.

Instead of rushing bills through Congress in 'emergency sessions'. Perhaps Americans should hold an emergency 'do-over' election and impeachment? It is clearly time to put some Libertarians on the ticket too.