The Stock Market means nothing. Sorry to say. but just because stocks are on the rise again doesnt mean jack about a company hiring more people and the unemployment rate going down. Stocks rising just means that those who had large shares of them, are getting richer.
Case in point, Western NY where i live. There is now almost a 25% unemployment rate. The market is soooo saturated with people in dire need of a job that companies can basically hire someone for nothing. Not to mention the fact that they can pick and choose. There is at least 50-100 people applying for the same job if not more.
I have been applying for jobs for over 9 months. I have years of experience in the field that i am applying for and i still have yet to get a call back. No i am not talking about Tech jobs either. I am talking about local jobs at even something as small as a coffee house or a restaurant in which i was a cook for over 6 years of my life.
So just because the stock market is making a come back means absolutely nothing to any single person who is without a job. We dont own stock and therefor we are not making any money by the upswing of stock prices.
Yeah encourage people to spend money, especially when THEY DONT HAVE ANY MONEY TO SPEND. Exactly how does that work Oreo? How can you spend money when you are not making any money in the first place? I would really love to know cause it is something that has baffled me for almost 3 years now.
The US Gov't just did a Cash for Clunkers program where if you have a junk car you could trade it in and get $4500 in trade in value. That went for 5 months before over $1 Billion was spent of federal money. That is a lot of money changing hands right there, yet the economy here is still not in a upswing even after so many people bought new cars.
People are dipping into life savings, retirement funds and so much more just to pay monthly bills. How do you really expect these people to go out and buy things like TV's and XBOX's and PC's when they are struggling to make monthly rent and other living expenses. Sorry but it just aint happening here. Maybe in the UK but in the USA there is FAR more people out on luck right now than are in luck when it comes to money.
You give people money, or you lower the prices of stuff. You have to spend money or the economy will remain stagnant forever, i don't know how either, but it's a fact. It comes down to something very simple, as soon as people spend money.. we come out of the recession - because everyone gets better off.
My business a level and geography a level has been this argument for the past 2 weeks, how to spend money without money..