Job losses greatest in six decades

The economy is heading south and fast.

Job losses have reached 1945 levels. We're talking over 2 million jobs lost in the last year.

History will lay this at the feet of the Bush administration. They've been in power for 8 years, so it's hard for them to blame a previous administration.

We must all pull together in this or we'll surely hang separately.

Foreclosures tied to job losses.

About a year ago, many were blaming the rise in foreclosures on borrowers taking on more house and debt than they could afford. Typical of blame the victim mentality.

Now, it appears that job losses are responsible for 50% of all current foreclosures.

Who're you gonna blame now, when the victims of foreclosure are twice victimized, once by the job loss and then next by the loss of their homes and stability?

I've said it before: We must focus our attention on job creation and domestic infrastructure to stop the bleeding.

It's getting worse. Scrooge has come home to roost this Christmas.

The ugly spectre of DEFLATION!

For those of you enjoying the drop in prices all over the place, especially right before Christmas, I should caution you about a tricky little thing called: Deflation.

Here's a good article explaining deflation and why we should all be concerned by it.

What is it exactly?

Well, it's where prices fall. Normally, we like falling prices, but not when it's caused by large scale deflationary forces like we're seeing now.

Prices are falling because demand has fallen. Lower demand equals lower prices; it's classical economics.

Deflation is good at the beginning, so if you got the cash, spend it now on those good deals.

As deflation drags on, you see downward pressure on wages. This hurts.

Be prepared for lower wages and more unemployment if we can't shore up the economy soon. It's a nasty cycle that we can ill-afford to get into.

Foreclosure crisis is tied to job stagnation and job loss. Class warfare is at the root of blaming the poor for mortgage mess

I've followed the housing crisis closely. What I've noticed in my hometown is that the hardest hit part of town is also the poorest.

When I look at job loss numbers since 2003, the hardest hit have been the poorest.

From a factual standpoint, job loss is the number one reason for foreclosure.

So what does this tell me?

It tells me that those who blame the foreclosure mess on people who "bought more house than they could afford" may be engaging in class warfare.

This underscores the need for jobs in this country. If people are gainfully employed with good employment prospects and with wages that are not stagnant, then they'll pay their bills.

Most people who lose their house to foreclosure didn't choose foreclosure. Circumstances created the problem. Obviously, some create their own mess, but with the numbers we're seeing, I doubt that so many would willingly or foolishly screw up in such a fashion.

Job creation has stopped in the country because the incentives are to move blue collar jobs offshore. Blue collar jobs are the province of the poor.

Without jobs, people have no money to spend. Without money to spend, people lose things that cost money, like houses and cars. Without money, the economy grinds to a halt.

So explain to me again how the victims of the housing mess are somehow to blame for their plight, while those who created the instruments leading to this mess are off the hook?

You can't. Furthermore, attempts to tie the crisis to one specific group, especially a group with the least amount of control over the situation, strikes me as stupid.

The problem is incredibly complex, but if blame must be placed, let us place it first at the feet of those with the greatest degree of control first. Who would that be? Bankers, Wall Street, and the Government.

Infrastructure spending leads to job creation and an economic turnaround

The tough economic times we find ourselves in demand some needed change from Washington.

We need a return to the New Deal. We need a New New Deal.

I've said this before in months past, but it bears repeating:

We need infrastructure spending.

By beginning new public works, the government will create jobs.

We need new jobs to replace the ones lost since 2003.

These new jobs will prime the economic pump and get consumption flowing.

I've never understood how it helps the economy to give more money to people that have plenty. They don't go out and spend it like someone who lives paycheck to paycheck does. In fact, the wealthy just squirrel it away, keeping it out of the economy.

When people are put to work, they spend. When people spend, more jobs are created to service their demands.

It's a win-win.

Job losses are behind retail profit fall

Retail sales were down for the last quarter. This reflects downturns in the labor market.

What many in the pro-business camp fail to realize about business, is that labor is the true fundamental for improved business.

Here's why: You can have all the capital in the world, but if you don't have labor and qualified labor to process that capital into products for the economy, then that capital is worthless.

There's been a false dichotomy for years in our political discourse. Your either pro-business OR pro-labor.

You cannot have business without labor. It's that simple.

Labor may need management, but it still remains the raw material upon which business much work.

I've said all that, to say this: Unless a concerted effort to buttress jobs (viz., Labor) occurs, business will continue to decline.