We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
We pointed out here and here that people are trying to talk down the economy and to fill people with fear for political reasons. They have done it throughout Bush's long "Goldilocks economy" (which has been stronger and healthier than Clinton's, a fact which our dishonest MSM press has tried to keep a secret), and they are doing it now. But if the credit crunch is going to cause a recession - which one might expect that it would and will - it sure isn't happening yet: Jobless rates fall.
The only jobs disappearing in numbers are those on Wall St., and populist Middle America never weeps for those good, savvy, hard-working folks. (It's as American as Apple Pie to hate the bankers - until we need one to help us start, grow, or sell a business. Then, we pretend to love 'em.)
Jobs are also disappearing in the news media. Someone pointed out years ago, maybe during the 2004 election cycle, that the media's frets about the economy directly correlate to the state of jobs in the media.
I should add, however, that we have been losing people on the business side steadily, for several years. Everybody blames that on the internet but, up here in the woods, most people wouldn't know Craig's List from Adam.
When the Industrial Revolution took root the economy changed as the roots grew into every corner of business.
The universal usage of the computer and the Internet are taken by two generations now as "just the way business is done"; however I would posit that we are still at the beginning of business changes that will continue adapting to this "new age".
The much maligned derivatives (which I believe need some constraints) have become hedges on steroids only by virtue of the computer and it's availability to the MOTU, (see Tom Wolfe's Bonfire of the Vanities who continuously seek a better way. That is but one example.
There always has been and will always be displacement of those whose abilities self select them out of existence because they cannot adapt. We are seeing that in play worldwide where the game is now played. This nation is self selecting itself out of the game by it's failure to entice, educate, and graduate enough math and science people to continue to be competitive.
Incentives to students who show promise in the sciences should be rapidly escalated, unless we choose to lose. It is our call to pay a semi literate ball player hundreds of millions of dollars and offer crumbs to those who are the real force in changing lives. Competition worldwide is narrowing the window for do-overs so we must get this right or we will end up a second tier country.
F. Evans-Charles Hawthorne IV
Money isn't a zero-sum game. Plus none of the baseball players would be scientists anyway.