Its all about jobs, dummy. Such a simple cure for so many problems

Note to politicians at all levels:  create jobs!

I wrote some time ago that jobs - people like you and me - being "employed" or in some legal fashion earning some form of reliable income - is the sure to many, many societal and economic problems. In my report, I emphasized the human nature aspect to jobs - the animal spirits within. Having a job is such an incredible part of who we are, and for good reason. But the bottom line is that by humans having a job, we gain on our ever so fragile self esteem (especially men), we provide for our families and this all leads to confidence - in spending. Spending begets company expansion, economic expansion and .... more job growth. Its no mystery. Just put policies in place to create jobs, oh dear politicians.

I keep hearing that what is holding U.S. businesses back from expanding and hiring is “uncertainty.” Exactly what new types of uncertainty businesses face in the current environment vs. past environments is rarely spelled out. But if, in fact, businesses are paralyzed due to uncertainty, I would not expect them to be stepping up their purchases of capital equipment. After all, capital equipment has a relatively long life. If businesses were unusually uncertain about the long-term outlook, they would be more reluctant to make longer-term commitments, which the purchase of capital equipment is. Rather, if businesses were unusually uncertain about the future, they might be more inclined to hire workers, who, after all, can be dismissed on short notice if conditions were to change suddenly. But just the opposite seems to be happening. Business hiring remains weak and business capital spending is robust.

I have my thoughts on this US debt crisis....and I am planning on writing about it soon ...probably gonna call it "How to deal with excessive government spending and debt...for dummies". Again, here, the solution is simple and mildly painful.

Saverio Manzo

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