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OpEdNews Op Eds    H3'ed 9/7/11

America's Sick Economy

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In fact, added handouts may up executive pay and bonuses, but won't create a single job. 

Other Obama schemes may include corporate tax breaks for infrastructure development, cutting regulations that do more harm than good, job destructive trade deals even more counterproductive, and perhaps other ways to enrich America's aristocracy at the expense of ignored working households.

As a result, expect the dire state of working America to get more dismal ahead, especially because of a bipartisan commitment for austerity at the worst possible time.

In a late August report, Rosenberg presented a disturbing global picture, including:

-- 0% French GDP Q2 growth, combined with a 0.7% consumer spending decline, the largest in 15 years and third steepest drop on record;

-- Australia had its worst employment report in the past eight months;

-- Insolvent banker occupied Greece saw its GDP contract 6.9% at an annual rate;

-- Hong Kong's GDP dropped 0.5%, its first slippage in two years;

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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