Remember that if fiscal austerity helps keep the unemployment high, it will just be “structural unemployment” resulting from the laziness and ineptitude of the American working class (via):
It really makes you despair: we’ve been over and over the evidence, and there’s not a hint in the data that a mismatch between occupations and jobs can explain any important fraction of the jobless rate.
Sometimes I think there may not be enough strapping young bucks to account for all the ingrates soaking up gubmint unemployment benefits, that there could be some meth-addicted white trash on the job too, maybe some former union workers too.
The U.S.-based CEO of one of the world’s largest hedge funds told me that his firm’s investment committee often discusses the question of who wins and who loses in today’s economy. In a recent internal debate, he said, one of his senior colleagues had argued that the hollowing-out of the American middle class didn’t really matter.
How about a big Charlie Rose round-table about how the American middle-class doesn’t deserve jobs or health care because they’re all a bunch of fat lazy fucks who couldn’t cut it in China?
Strapping young bucks not looking for workPost + Comments (63)