Monday, September 18, 2006

Where's The Economic Growth?

Since we're on the money topic this morning, I keep hearing about the all the wonderful jobs that the Bush administration has created. I look around, scratch my noggin', and wonder where. I look around Ohio and I see massive layoffs and plant closings. Hmmm.

Now, everyone knows about how the housing industry has fueled economic growth. But like the internet crash at the turn of the century, I think the same is happening to the home building industry. The home building boom, has in large part, been driven by speculation. When the speculation dried up, homebuilders found themselves holding the bag in an overbuilt industry. There've been numerous layoffs throughout the industry and home builder's are in belt tightening mode.

So, from where is the job growth coming? Business Week has some answers. One industry about which BW didn't discuss was the defense industry. There has to be growth there, eh?


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