Tuesday, August 3, 2010

Economic news of the day!

Here is a headline in the news today: An employee who had been asked to resign went on a shooting rampage Tuesday at a family-owned beer distributing company in Manchester, Conn, killing eight people and wounding others before fatally shooting himself, officials said.

This again shows how awful the economy is today. Sure some people are just plain messed up to do something like this, but you wonder if the possibility of going without could have played into this decision. People who lose their jobs are confronted with losing their American Dream;  losing their homes;  and a hundred other things associated with in leading a normal life. Thus, fear is a factor and the papers are filled with stories of how people can't get another job except maybe at McDonalds.

But actions like this shooting isn't the answer. But, it does seem like shooting others is the answer for far too many people anymore. Everyone around them has to suffer. These eight people in this story had families. They were planning a future for them. Now these next few days these families will have the ordeal of taking care of funeral arrangements.

We also read in the papers about how the big companies are hoarding profits and not doing any new hiring. That too is wrong. A recent USA article said companies are sitting on a pile of cash, enough to pay 2.4m workers $70,000 for 5 years - yet they're not hiring. They say the answer is for everybody to spend, spend and the economy will get alright, but when big companies don’t hire that notion is defeated. The big bonuses continue for the top executives and the worker gets none or gets fired. That notion is wrong too. Where is that economic recovery plan and have we hit any benchmarks yet? It doesn’t seem like it, does it?

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