Posted on:
September 8, 2010
Scared Americans are spending less and saving more, fearful that their job will be cut next.
Automation, machines, and particularly machines run by computers, has been putting unskilled and some skilled workers out of work for years, and the trend is increasing.
Outsourcing by our big companies to get cheaper labor and to avoid paying benefits to Americans. Remember when Bush said not to worry about the 7 million manufacturing jobs lost during his 8 years because service sector jobs will take up displaced workers? You betcha!
Stingy banks that have gone to the opposite extreme from loaning money like it was toothpicks to not loaning money to people who do show repayment ability.
