Finance

Greece is going to default. This is what is coming out of the financial programs from Europe. At some point, the EU countries are going to say to investors that they have lost their money. If I were Germany, I would only pay off other countries bonds as though investors had invested in Germany regardless of face value. That means much lower yields. This would send the message to investors that if you invest in a shady company or country, you just might loose your money.

The U. S. government is debating a bill that will make it illegal for people to not consider people who are currently unemployed for job openings. The fact that this is even coming up makes me a bit sick. The idea of a stigma is attached to people who are out of work is just evil.

Speaking of job growth, the gain this last month of a pittance of jobs is not enough to keep up with population growth. Over a long period of time we are behind. They have been trowing the notion of a jobless recovery. Some economists are finally coming around to the fact that we are now in a situation that is as bad if not worse than The Great Depression of the 1930s.

Companies are taking a "wait and see" attitude for the foreseeable future. That is, the foreseeable future is not so foreseeable. Companies want to be able to plan. If they cannot plan to hire people they will plan on not heiring people. The Job bills have failed because the best way to get people in to jobs is to create the environment where companies need to hire people. Hiking taxes for getting work done is not the way to get people hired.

When you hear economists talk about the varied stimulus packages that come from government, they say things like "No one knows if it is going to do any good." Do governments want banks to make loans wily-nilly, basically toss it out of helicopters. Or, do governments want banks to verify loans and lend to companies and individuals who have a high probability to pay it back? The answer, to both is "yes". Good luck with that.

It is not a double dip recession. It is a depression. Say it with me. "We ... are ... in ... a ... deeeeprrrreeeeeeeeessssiiiioooooooooonnnnnnnnn." SAY IT!!!

On a side note, the spell checker tried to correct the word 'depression' correctly in the above paragraph. I'm impressed.