Wednesday, June 24, 2009
PRODUCTION - June 25, 2009
In searching the economic data for signs of a possible recovery, the public press puts its emphasis on the actions of the stock market and the lending of banks. They report the growth in the unemployment figures but fail to tell us that is where the health of the economy lies, at bottom. Indeed, the millions who are skilled and eager to do the work but are sitting on their bottoms collecting insurance is the true indicator of where we are going, as their productive efforts are being blocked by actions of the private economy that seems to private industry as retrenchment. The millions of unemployed, both acknowledged and hidden, idle while important functions go untended and potential consumers are cut out of the active workforce, is a total waste. It may look like saving to GM, but to the States, which should be making use of the reserve, it is a loss of advance and a deprivation to those like GM that want to sell their products. In the meantime, activity in the Big Gambling House we call the Stock Exchange, moves money from the pockets of one punter to that of others but there is almost none going into opening new economic efforts. Despite how we reckon the GDP, no goods or personal services are being produced in the Big Casino. Putting public money into jacking up the gaming will not foster a recovery of the real economy of goods and services. And money being pumped into the pockets of those who are already deep into luxuries will not result in increases of the very commodities needed by the working people who are at the true base of our prosperity. Money invested now, even borrowed money, in health, education and research would pay good dividends in future years, but that is where everyone is cutting back, thus cutting our own throats.