>In any case, Doug, when you say "we're in trouble," well who is
>"we?" If productivity is increasing and labor is weak, then capital
>gets increased profits instead of workers getting increased wages.
>So who cares about how many jobs are created or destroyed? Aren't
>there enough foreign markets to soak up the crap unemployed
>Americans can't afford?
No. This is a huge economy and it needs lots of domestic demand to keep going, and dom dem can't keep going just on refi and tax refunds (which are fading stimuli now). By "we" I meant the U.S. macroeconomy, rudely and recklessly effacing all the differences of class, region, sector, etc. George Bush sure cares about the labor market, or he'll find himself following in his father's footsteps, though, unlike his father, well before normal retirement age.
Doug