Tom Friedman's Op Ed http://www.nytimes.com/2011/06/12/opinion/12friedman.html?_r=1&partner=rssnyt&emc=rss
He starts with shocking mortgage statistics, but then discusses unemployment and its causes via this report: http://www.mckinsey.com/mgi/publications/us_jobs/index.asp Quote: McKinsey Global Institute released a long study of the structural issues ailing the U.S. job market, entitled: “An Economy That Works: Job Creation and America’s Future.” It begins: “Only in the most optimistic scenario will the United States return to full employment before 2020. Achieving this outcome will require sustained demand growth, rising U.S. competitiveness in the global economy and better matching of U.S. workers to jobs.” Interestingly enough, they still feel education is important but stress areas of current need. BTW: The tech bubble folks are afraid of is likely NOT to be one. Marc Andreessen (admittedly a techie) has compiled P/E ratios of the new tech market and shows them to be well under traditional values. They'd please any conservative investor. Tom is concerned about the Uncertainty Tax .. our loss of production due to fear of downturn unknowns, but ends: Any good news? Yes, U.S. corporations are getting so productive and sitting on so much cash, just a few big, smart, bipartisan decisions by Congress on taxes and spending (and mortgages) and I think this whole economy starts to improve again. Workers with skills will be the first to be hired. -- Owen ============================================================ FRIAM Applied Complexity Group listserv Meets Fridays 9a-11:30 at cafe at St. John's College lectures, archives, unsubscribe, maps at http://www.friam.org
