| mrstickball said: You may want to listen to Peter Schiff in regards to job creation and growth: http://www.youtube.com/watch?v=FLmD9TeUC54 |
I believe this is off to some degree. It is important to extend the malinvestment to malproduction and malconsumption, which is a bubble economy. As of now, you have an economy built on consumer debt, which has it caused to be restructured long. To throw stimulus at it, the end result is unsustainable economic growth.
Schiff is doing a partisan spin, that someone would end up believing somehow if there was no government, then things would be awesome. Being hired at sub-minimum wage, isn't going to get someone a higher paying job. I know, for example, one person who hit the wall working as a stock clerk salary wise, because that is what is budgeted for his position. Corporate wouldn't allow him to get paid more.
Job creation ONLY happens if a business believes it will have increased business and ONLY if there is no other way to address the need for new business. What is going on is there is a lack of confidence that business is going to grow, and business is looking for any possible way to meet new business coming in, without hiring. The trend has been for years now to get "lean and mean" and get rid of workers whenever you can, so you keep costs down, and increase productivity. You also also having trends like Blockbusters going out of business and replace with Red Box type vending machines, and Netflix.
Also, he is the story on Schiff's fined for hiring wrong, in regards to it being the government doing it (a private regulatory organization fined him, FINRA):
http://mediamatters.org/research/201109210002
Fined in 2010 for what happened in 2008.
http://www.finra.org/AboutFINRA/
http://en.wikipedia.org/wiki/Financial_Industry_Regulatory_Authority
This is a watchdog, funded by the industry itself, to police itself. And Schiff is upset at them:
http://www.nypost.com/p/news/business/watchdog_bites_t7JaIebHyj2BtXs4Kpj33I
