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Blogs by Lawrance G Lux
Deafening Silence 12/21/2003 10:54:50 AM
Upbeat articles on great Sales figures for the Christmas Season have ceased. Could it be some targets have not been realized?
Business Profits have maintained an impressive increase throughout the last Recession, estimated to be over 2.3% yearly average increase. Labor Income has decreased dramatically since the last Recession, and shows no sign of increasing. Bush foretold the Economy would generate 300,000 Jobs per month, if he could get his Tax Cuts. He has not even gained such increase over his entire administration, not counting the overall Job loss, and is unlikely to gain this level in the rest of his term. The American economy would need 3.2 million new Jobs, to return to the Labor Income present before his administration. This is a highly debateable estimate, but other Economists fail to account the relative Wage loss in the new Job creation. I believe George W. Bush will gain equal infamy with Herbert Hoover, though with a difference; Hoover never deserved the insult to his character and administration. lgl