Sam Zell, real estate mogul, discusses his view of the economy and the recovery.
To underscore Zell's point on job creation, here's the current picture of the recovery showing the private sector still shrinking as the public sector grows:
Interesting. Everybody knows the problems but nobody knows how to solve them. So once again it has to hit a full blown crisis before anything is done. All kinds of things can happen with the economy and people can take it but when it comes to losing jobs and destroying savings it's a whole different ball game. To me a sad part is that the pensions etc. did not have to be made as generous as they are to get people to take their jobs. Teachers didn't have to be promised 2% * number of years worked etc. But now that they've got it they aren't going to give it up. Unions got better salaries and better benefits and now we can't pay for them.
Interesting. Everybody knows the problems but nobody knows how to solve them. So once again it has to hit a full blown crisis before anything is done. All kinds of things can happen with the economy and people can take it but when it comes to losing jobs and destroying savings it's a whole different ball game.
ReplyDeleteTo me a sad part is that the pensions etc. did not have to be made as generous as they are to get people to take their jobs. Teachers didn't have to be promised 2% * number of years worked etc.
But now that they've got it they aren't going to give it up. Unions got better salaries and better benefits and now we can't pay for them.