Wednesday, October 27, 2010

Weak economy with record profits?

I've long thought that blaming government policies for the "weak economy" has been so much hooey and that blaming the Democrats alone for all the "bad" government polices has been even more hooey.

Morgan Heusel looks at all the factors in "Why Corporate America Isn't Hiring".  He has a long list of factors including that many companies have learned they are getting just as much work from fewer employees and that older employees are staying longer.

I also note that the Star Tribune has been reporting many Minnesota MANUFACTURING companies have seen increased business, especially exports, and profits.  And so many letter writers complain, "We don't make anything in America anymore."  Hooey!

Heusel concludes with "we have a jobs crisis not because of a lack of demand, but because we're suffering from a mental recession of fear and uncertainty."