Recession Ending

[Mad Scientist]

I readily acknowledge that the work they find may be something other than what they were trained to do, it may be at far less pay than they have made in the past, it may be work that is not pleasant, and it may be for so little $ that they will have to completely revamp their finances.

But our economy is not so far gone that there is not still a LARGE % of the population that WILL pay to have their grass mowed, that will pay to have work done around their house or business.

motivational programs". I know in the past he has use unemployment compensation as a form of a paid vacation. He would wait until he had just about used up his benefits before starting to really look for a new job. But with the down turn in the economy he finding it is not as easy as before. He is basically a nice guy but he does need to grow up a bit.

[rickoff]

Good economic news!

St. Petersburg, Russia - On Tuesday of this week, China and Russia announced that they have agreed to renounce the US dollar and resort to using their own currencies for bilateral trade.

Wait a minute Rick, wasn't the title of this post, "Good economic news?" How can this be good for the United States?

Well, it isn't at all good for the US, but it certainly is good economic news for China and Russia. The US dollar has long been the standard exchange currency which nations have used when trading with other nations, but with the dollar losing 20% of its value between June and October, it just doesn't make any sense for other nations to be holding US dollars.

Suppose that you were the Chinese foreign trade minister, and that on September 1 of this year, you had exchanged 1 billion Chinese Yuan (CNY)for US dollars (USD), in anticipation of completing trades with other nations in the coming weeks. On September 1st you would have received 6.81 USD per each CNY, but by October 15th, just 6 weeks later, the exchange value of those dollars would have equaled only 6.58 USD per CNY. Now this 3.3% devaluation may not seem like a huge difference, but it is a definite loss, and it must also be kept in mind that the Chinese attempt to peg the value of the CNY to the USD, which means that the CNY is artificially set low and actually has a higher value. So what happens when China goes to trade with some other country, using their deflated US dollars?

Let's say that China wanted to buy some Australian gold with their US dollars. Well, on September 1st the Aussie (AUD) was worth 0.90 USD, but by October 15th had increased in value to 0.985 USD. While this is good news for Australia, it means that China's US dollars had decreased in value not only 3.3% in relation to their Yuan, but also 9.4% in relation to the AUD. And let's not forget that happened in only 6 weeks! So this is like taking a loss of 12.7% on the USD investment. Does this mean that China will have to come up with 12.7 % more USD in order to purchase the Australian gold? No, it might seem logical, but the truth of the matter is realized by looking at the following example:
Every $100 USD that China held on October 15th was worth $87.30 in comparison to what a direct Yuan payment to Australia would have been on September 1st. A 12.7% increase above $87.30 would actually equal only $98.39, not $100, so it would really take a 14.5% increase in costs to purchase the Australian gold (12.7/87.30 = 0.145, or 14.5%). Not a pretty picture for China, is it?

It is no wonder that foreign countries are making alternative agreements for trading with other countries, and also calling for a new currency standard. It is also no wonder that China and other countries are steadily lessening their stockpiles of US dollars. China has been, and still is, the largest foreign nation holder of US dollar notes. In July of 2009 they held a record $940 billion in USD, but have been steadily decreasing their holdings, and at an accelerated rate this year. The high for 2010 was $900 billion in April, which was reduced by a $32.5 billion drop in May, and followed by a $24 billion decline in June.

The only reason that China does not dump all of its USD holdings at once is because any attempt to do so would set off a worldwide USD panic causing all other nations to dump their dollars overnight, and this would drop the value of China's USD holdings to a near zero level. This of course would be quite unfortunate for China, and most unfortunate of all to anyone living in the United states whose assets are all USD denominated. Bank savings accounts, certificates of deposits, retirement accounts, savings bonds, all effectively wiped out in a single day. You would still have the same dollar amounts showing in each of those categories, of course, but the relative value of those savings would be reduced to nearly zero in terms of their purchasing power. A gallon of gasoline, for example, might cost $1,000 USD, so how long would it be before your entire savings became depleted?

Now there may very well come a time in the not too distant future when China feels that they can afford to take such a shellacking on their remaining USD holdings, since it would leave them as the world's only superpower while leaving the US flat broke. None of us should be surprised if this is the final outcome, and we may in fact be doing ourselves a big favor if we begin converting our USD holdings to the CNY in anticipation of what is to come.

Rick

[aljhoa]

Qualified Foreign Institutional Investor

The Qualified Foreign Institutional Investor (QFII; Chinese: 合格的境外机构投资者) is a Chinese program that was launched in 2002 to allow licensed foreign investors to buy and sell yuan-denominated "A" shares in China's mainland stock exchanges (in Shanghai and Shenzhen).

QFII Qualification Statistics (July 2008)
No. Name of QFII Qualification approved date
1 UBS AG May 23, 2003
+
39 La Compagnie Financierr Edmond de Rothschild Banque April 10, 2006
+
69 T. Rowe Price International, Inc. 2008.9.12

Qualified Foreign Institutional Investor - Wikipedia, the free encyclopedia

http://theviewfromhere.homestead.com/files/bush_lordoftherings.jpg

[Kevin]

What you say is so right, Kevin, and and I feel that government has created this lackadaisical mentality amongst those in the workforce by encouraging people to not work. Take unemployment compensation, for example. It is now set up so that an unemployed person simply files a two minute weekly report on their computer stating that they did not work this week, did not refuse any job offer, and that they did look for work. A person can do this for 26 weeks, and sometimes longer, while receiving about 75% of their former pay when they did actually work. Trouble is, a great many of these people end up going the full distance because there is no real incentive for them to find a job until their unemployment benefits are about to run out. And their thinking certainly is logical. If they can receive say $9 an hour for doing nothing, then what incentive is there to take a job at $9 an hour? The system is set up so that if a person accepts a part time job, which is the most likely scenario nowadays, then every dollar they earn is deducted from the unemployment benefit they would have received for staying home and doing nothing. No incentive! Why not instead reward those who pursue part time employment through a work incentive bonus that matches 50% of their earned income? For example, say that person A gets $360 per week drawing unemployment benefits and doing no work under the current system. Person B works 20 hours a week part time @ $9 per hr, earning $180, and receives $180 in unemployment benefits for a total income of $360 under the current system. Person C works the same hours at the same rate as person B, but under a work incentive. Person C receives $180 in pay, $180 in unemployment benefits, plus $90 incentive bonus pay. See how this works? The government pays $90 less per week to person C than it does to person A, who is the typical unemployed person, and yet person C is now doing better financially than person A for accepting the part time job and working for that $90 per week bonus.

Of course this would make no sense at all to government bureaucrats, and neither would another common sense approach to rampant unemployment:

Every person who signs up for unemployment benefits should receive an immediate work assignment for which they will be paid an amount equal to their stipulated weekly benefit payment. After all, they are saying that they are unemployed, but actively seeking work. So lets put them to work immediately! If they don't show up for a work assignment, they are cut off from drawing any further benefits. Such a work program could easily be established whereby any city, business, or individual, could request the services of such unemployed persons to perform various short term jobs. Maybe a city needs a work crew to pick up roadside trash, sweep sidewalks of debris, or sort recyclable materials at the city's recycling center. Maybe a business could temprarily use some workers, but can't afford to hire anyone additional at current labor rates. Maybe an individual has some odd jobs needed done around their homestead, but can't afford to pay the price that services listed in the local newspaper or phonebook are charging. Those requesting such workers would directly pay the unemployment bureau a compensation at the rate of say half what the bureau is paying the worker in benefits, or $4.50 per hour for the earlier cited examples. This of course would have the effect of immediately cutting government unemployment payments in half (a huge amount, saving about $3 billion a week) and at the same time greatly reduce operating costs and budgetary deficits of cities nationwide. Businesses would have an incentive to hire these displaced workers at 1/2 to 1/3 the rate normally paid to employees, and individuals could better afford to pay someone to do odd jobs for them. This would be a win-win situation for everyone, not just those drawing unemployment benefits.

Why can't government come up with such common sense approaches to unemployment? I would imagine that any person here could think of additional ways, beyond the examples I have cited, that the problems could be solved far more efficiently, and far less costly, than in the current manner, while at the same time instilling in people a desire to work.

Rick

Wow Rick!

I have been pushing a very close variation of this idea for almost 2 decades! It is so simple, and a variation of it is already in place with the work crews that clean up the roads as part of the way to make right from tickets.

It is pathetic how wasteful bureaucracy is most of the time.

Just a few days ago I was talking to a friend of mine that works for the US Government. He said at his little office there are 13 persons in "management/supervisory" positions, and that there are another 6 people doing the actual work.

The majority of the time most of those 13 spend their time in "coffee clutches" while the other 6 do all the work.

My friend was laid off a couple of years ago from a management position in the private sector, he then found this job. Being familiar with management, he believes the office he works out of could get everything done administratively with a max of 2 "management/supervisory" positions and the same 6 workers.

So taxes are paying for 11 people in this one little office, that really should not be there, but should be out being productive elsewhere.

It is a testament to the will of free people that we still have productivity with such an onerous burden of a top heavy government.

[Mad Scientist]

good care of you.

[Nadda]

Its pretty bad how fast people are willing to give up their freedoms anymore. I guess freedom is like everything else, when you've had it your whole life you take it for granted. Espically when the government will pay you for it, like a cheaper health care bill.

Being frisked at the airport is insane.

Heard a liberal say we should never profile especially not muslims, because only 1% of them are terrorist's and the rest would be searched for no reason...He's right. We should just continue searching everyone. Grandpa Joe and little molly included. Whats the percentage that they are terrorists?? 0.001% What a genius plan!

[rickoff]

Good news on unemployment

Jobless Rate Rises to 9.8 Percent, Highest Since April
The nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed. Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month. Private companies -- the backbone of the economy -- created 50,000 jobs. That was down significantly from the 160,000 private-sector jobs created in October and was the smallest gain since January. With hiring so weak, the unemployment rate rose from 9.6 percent to 9.8 percent. The jobless rate has now topped 9 percent for 19 straight months, the longest stretch on record.

Wait a minute, Rick, didn't you say the news was good?

Well yes, it is good news if you are always looking at things through rose colored glasses. Such optimists would reason that things can't get much worse, and that therefore we must already be at rock bottom of a trough that we are about to emerge from in a wondrous economic recovery. And just look at how many jobs were created (39,000 + 50,000 = 89,000). Eighty nine thousand new jobs created! Isn't that great! Well no, it isn't. While the government will be sure to tout the number of new jobs created as somehow being credited to whatever they are doing, they will fail to mention the fact that the reason unemployment is rising is because the number of jobs lost is significantly greater than the number of jobs created. And those who are looking through rose colored glasses will only recognize the good news of the new jobs that were created.

Those who don't have rose colored glasses, though, may well be wondering how long it will be before the unemployment rate tops 10%, 12%, 15%, or higher. In actuality, we are already well above any of those figures. The Bureau of Labor Statistics (BLS) actually obtains two sets of unemployment statistics, referred to as the U-3 and the U-6. The U-3 is the monthly "official" report that is released by BLS, and is based on total non-farm civilian unemployment. Right off the bat, then, we can see that unemployed agricultural workers are not included, and unemployed government workers are not included. Is anyone else not included? Yes, and this is because any person who works any amount of hours is not included as being unemployed. We have to remember that a huge number of Americans are underemployed, either by choice or by circumstances, and working at part time jobs. The BLS U-6 report, which the public never hears, takes this into account by including all who are able to work but either unemployed or underemployed.

While the "official" U-3 report pegs the current number of unemployed at a little under 15 million, with an unemployment rate of 9.8% the U-6 report reveals that the actual number is nearly 26 million, and that the true unemployment rate is 18.6%, nearly double the "official" rate.

[noises]

work for welfare sounds good in theory, but in practice

*you can't go looking for work while your day is taken up working for welfare.

*people who were employed doing the menial little jobs that end up getting done "for free" or "cheap" by government welfare slaves end up unemployed, their jobs being done by others "for welfare."

*tell an employer "that guy you pay $9.00 an hour, you could fire him today, and have him back today doing the same job, and all you have to pay him then is $4.50, welfare pays the other half of his wages for you." See how many people are suddenly "unemployed."

we've had work for the dole, which is essentially the same thing, for the last 1o years here. and we still have massive unemployment. I think that's because companies and business people don't like to spend their profits on wages (or anything else for anyone else's benefit,) unless it's completely unavoidable, for them, it's all about the accumulation of wealth, not the re-distribution.



I don't know, I just think governments should apportion 10 or 15% taxes on corporate profits, and hire people at fair wages to do public works with a small part of the trillions of dollars that would bring in to the public purse each year. Oh that's right, it's poor people who're meant to pay all the taxes, not rich companies, my bad.

[Kevin]

Jobless Rate Rises to 9.8 Percent, Highest Since April
The nation's unemployment rate climbed to 9.8 percent in November, a seven-month high, as hiring slowed. Employers added only 39,000 jobs last month, a sharp decline from the 172,000 created in October. The weakness was widespread. Retailers, factories, construction companies, financial firms and the government all cut jobs last month. Private companies -- the backbone of the economy -- created 50,000 jobs. That was down significantly from the 160,000 private-sector jobs created in October and was the smallest gain since January. With hiring so weak, the unemployment rate rose from 9.6 percent to 9.8 percent. The jobless rate has now topped 9 percent for 19 straight months, the longest stretch on record.

Wait a minute, Rick, didn't you say the news was good?

Well yes, it is good news if you are always looking at things through rose colored glasses. Such optimists would reason that things can't get much worse, and that therefore we must already be at rock bottom of a trough that we about to emerge from in a wondrous economic recovery. And just look at how many jobs were created (39,000 + 50,000 = 89,000). Eighty nine thousand new jobs created! Isn't that great! Well no, it isn't. While the government will be sure to tout the number of new jobs created as somehow being credited to whatever they are doing, they will fail to mention the fact that the reason unemployment is rising is because the number of jobs lost is significantly greater than the number of jobs created. And those who are looking through rose colored glasses will only recognize the good news of the new jobs that were created.

Those who don't have rose colored glasses, though, may well be wondering how long it will be before the unemployment rate tops 10%, 12%, 15%, or higher. In actuality, we are already well above any of those figures. The Bureau of Labor Statistics (BLS) actually obtains two sets of unemployment statistics, referred to as the U-3 and the U-6. The U-3 is the monthly "official" report that is released by BLS, and is based on total non-farm civilian unemployment. Right of the bat, then, we can see that unemployed agricultural workers are not included, and unemployed government workers are not included. Is anyone else not included? Yes, and this is because any person who works any amount of hours is not included as being unemployed. We have to remember that a huge number of Americans are underemployed, either by choice or by circumstances, and working at part time jobs. The BLS U-6 report, which the public never hears, takes this into account by including all who are able to work but either unemployed or underemployed.

While the "official" U-3 report pegs the current number of unemployed at a little under 15 million, with an unemployment rate of 9.8% the U-6 report reveals that the actual number is nearly 26 million, and that the true unemployment rate is 18.6%, nearly double the "official" rate.

I have already posted what I think of these unemployment number.

They don't mean jack in terms of whether there is work available.

There is not a single person unemployed where I live that could not have a job if they were willing to work.

Better yet, they could think of how they could fill someone else's need and be "self-employed". Opportunities are endless. I turn down dozens of ways to make money each quarter...and I am not even looking.

What these number DO mean, is that there is a serious disconnect between reality and what people WANT to do to support themselves (perhaps there is even a lack of acknowledgment among some that it is no one else's responsibility to support themselves...it is their alone?). And the government giving away money for nothing is only making things worse.

[Kevin]

work for welfare sounds good in theory, but in practice

*you can't go looking for work while your day is taken up working for welfare.

There are 24 hours in a day, 7 days in a week, if you spend 8 hours, 5 days a week, that still leaves plenty of waking hours to do MANY other things....start your own business, look for a better job. How many millions of people have worked full time and gone to college full-time? Yeah, it's hard (I did it), but Everything goes thru cycles. I have had years where I made way more than a comfortable living and years where I made less than the poverty level.

*people who were employed doing the menial little jobs that end up getting done "for free" or "cheap" by government welfare slaves end up unemployed, their jobs being done by others "for welfare."


*tell an employer "that guy you pay $9.00 an hour, you could fire him today, and have him back today doing the same job, and all you have to pay him then is $4.50, welfare pays the other half of his wages for you." See how many people are suddenly "unemployed."

Your above two comments are where I have a bit different view than Ricks idea. I believe there is enough work that the government pays people for that they could use "unemployed" people for. That way the only people who might lose their jobs are government employees....for some reason, the idea of a functioning government with far less expense does not bother me, even if some Gov. employees then have to go into the private sector. Unfortunately, even if such a program were put into place, my bet is that most people on welfare, when faced with a new reality---they will have to work to continue receiving welfare benefits---won't do it.

we've had work for the dole, which is essentially the same thing, for the last 1o years here. and we still have massive unemployment. I think that's because companies and business people don't like to spend their profits on wages (or anything else for anyone else's benefit,) unless it's completely unavoidable, for them, it's all about the accumulation of wealth, not the re-distribution.

I have been an employer for most of the last 32 years. I work my butt off. OF COURSE I don't want to pay anymore than absolutely necessary for any employees to help me in my business. Why would I???

Now, every now and then an employee sticks their head up and is special...worth more than their employee pay...those people, I have always put on some sort of a profit sharing. Because they are not just employees, they are actually thinking and contributing to the profit, more than just doing their "job description".

If I did not do that, because they are special, it would only be a matter of time before they opened their own business, or were snatched up by another employer who recognized their worth.

Not to offend you, but the money I make in my businesses is mine. I earned it. If I thought I would be earning it just to have it arbitrarily "re-distributed" I would not work 2-3, or even 4 times as hard as most employees.

Most years I earn far more than I need to pay my bills, and what I do with it is really no one elses business, nor should it be. However, for the purpose of this conversation, I will let you know that I give "re-distribute" more $ away each year than I use to pay my own bills...more than most people earn in a year. BUT, I give it of my free will, AND, I give it to those I choose, based on my own assessments of need, and most benefit derived per $. For instance, I have given sun ovens to orphanages in 3rd world countries so that they could bake bread and support themselves. I hope you can see how I believe that is a better use of the $ than paying my employees more than the market price for their labor.


I don't know, I just think governments should apportion 10 or 15% taxes on corporate profits, and hire people at fair wages to do public works with a small part of the trillions of dollars that would bring in to the public purse each year. Oh that's right, it's poor people who're meant to pay all the taxes, not rich companies, my bad.

Don't even get me started on how messed up the unconstitutional IRS is!!!

I will only say this, if we are not going to revolt against the unconstitutionality of our current taxation, if we are going to accept that individuals and companies should pay income tax, then....Don't for minute believe that it is fair for me to pay a penny more or less income tax (in hard dollars, not %) than my neighbor, who may earn more or less than me.

WOW, I have lots of thoughts on these subjects. Most of them not too popular...but, I gotta get back to work (cause ain't nobody gonna pay my bills for me).

[Kevin]

"Businesses and government advertised nearly 3.4 million jobs at the end of October, up about 12 percent from the previous month"....and that's just the jobs that are advertised!

There was no advertisement for the full-time person I just hired. There was no advertisement for the other 3 people I personally know that just got full-time jobs.

If you're into working for someone else, seems like there are millions of jobs out there to be had...reckon ya need only one.

See full article HERE.

[Aaron]

join business groups to scout for jobs

I'm remodeling my bathroom and am doing everything myself except
for laying the tile.

I called 8 tile contractors. 3 NEVER called me back,
2 said someone would get back to me to do an estimate and DIDN'T
and only 3 actually came out to my house.

One guy was definitely not qualified for residential homes - mostly
commercial and had different views from the other two that showed up.
Out of the two, both were equally qualified and gave close to the same
estimate and I went with the one that actually told me how much he
needed the work and he was an independent - not with a bigger
company - and I definitely like to support the smaller guy that needs
it more.

Bottom line, I wonder how many people are having money issues because
they are poor business people and flake out when promising to do an estimate or return calls.

I'm sure they're skilled at their craft but they have no business being in
business. It really makes me shake my head wondering how someone
could not jump on an opportunity to make some money in this economy
unless they're so financially independent that they're just advertising
in the yellow pages for a hobby. I experienced
this same flakiness before I first moved in and had my wood floors redone.
That was frustrating - having cash in hand and having to practically beg
someone to take the money to do the job. I simply cannot fathom what
this is all about.

If I had a needed building trade and someone called me for an estimate, I'd
be calling them back before they could hang up the phone - joking but
seriously! I'd be scheduling them for an estimate like yesterday!

Anyway, I used to be involved with many business development groups
here in town - most of the good jobs got filled by word of mouth through
friends and family - it is who you know and not what you know. None
of them were ever advertised.

I'd encourage anyone that needs work - even if you're not interested
in starting your own business - go join your local non profit business
development groups - and rub elbows with all the players and go to the
social functions. Forget about getting invited -
invite yourself! I'm not kidding. If you haven't been in the business
circles in your town, YOU NEED TO GET TO KNOW A BUNCH OF BUSINESS
OWNERS. Don't be a shy wall flower and sit in the corner - go mingle with
everyone and tell them you're exploring your options. Just make some
real friends and you WILL have an advantage over most people skimming
through the paper.

Many big companies like the power company or other industries usually
pay money to be sponsors of those organizations. They normally could
care less about supporting small businesses - they're just doing this to
look good to the community plus it is a write off - through those business
groups, you'll often times hear about positions opening up in those big
companies before anyone else.

[Kevin]

I'm remodeling my bathroom and am doing everything myself except
for laying the tile.

I called 8 tile contractors. 3 NEVER called me back,
2 said someone would get back to me to do an estimate and DIDN'T
and only 3 actually came out to my house.

One guy was definitely not qualified for residential homes - mostly
commercial and had different views from the other two that showed up.
Out of the two, both were equally qualified and gave close to the same
estimate and I went with the one that actually told me how much he
needed the work and he was an independent - not with a bigger
company - and I definitely like to support the smaller guy that needs
it more.

Bottom line, I wonder how many people are having money issues because
they are poor business people and flake out when promising to do an estimate or return calls.

I'm sure they're skilled at their craft but they have no business being in
business. It really makes me shake my head wondering how someone
could not jump on an opportunity to make some money in this economy
unless they're so financially independent that they're just advertising
in the yellow pages for a hobby. I experienced
this same flakiness before I first moved in and had my wood floors redone.
That was frustrating - having cash in hand and having to practically beg
someone to take the money to do the job. I simply cannot fathom what
this is all about.

If I had a needed building trade and someone called me for an estimate, I'd
be calling them back before they could hang up the phone - joking but
seriously! I'd be scheduling them for an estimate like yesterday!

Aaron, I remember you talking about the difficulty you had with getting someone to do your wood floors. Wasn't that BEFORE our "current unemployment problem"? Now you're having the same thing when supposedly there is too many people WILLING to work, but there is not enough work to be had?

I don't want to offend anyone, or be insensitive to REAL hardship...but I am telling you...you could take away all my businesses, and I could have either a job or a completely new business making $ within a week...then you could take that away, and I could repeat, probably indefinitely...at least in todays economy in the USA, cause right now the opportunities I see would last hundreds of my lifetimes!



Anyway, I used to be involved with many business development groups
here in town - most of the good jobs got filled by word of mouth through
friends and family - it is who you know and not what you know. None
of them were ever advertised.

I'd encourage anyone that needs work - even if you're not interested
in starting your own business - go join your local non profit business
development groups - and rub elbows with all the players and go to the
social functions. Forget about getting invited -
invite yourself! I'm not kidding. If you haven't been in the business
circles in your town, YOU NEED TO GET TO KNOW A BUNCH OF BUSINESS
OWNERS. Don't be a shy wall flower and sit in the corner - go mingle with
everyone and tell them you're exploring your options. Just make some
real friends and you WILL have an advantage over most people skimming
through the paper.

Many big companies like the power company or other industries usually
pay money to be sponsors of those organizations. They normally could
care less about supporting small businesses - they're just doing this to
look good to the community plus it is a write off - through those business
groups, you'll often times hear about positions opening up in those big
companies before anyone else.

That is a great idea you just posted Aaron!

[rickoff]

I have already posted what I think of these unemployment number.

They don't mean jack in terms of whether there is work available.


What these number DO mean, is that there is a serious disconnect between reality and what people WANT to do to support themselves (perhaps there is even a lack of acknowledgment among some that it is no one else's responsibility to support themselves...it is their alone?). And the government giving away money for nothing is only making things worse.

I would completely agree. I only made that post to show that the actual number of unemployed persons who are capable of working is nearly double the "official" reported number.

Rick

[rickoff]

work for welfare sounds good in theory, but in practice

*tell an employer "that guy you pay $9.00 an hour, you could fire him today, and have him back today doing the same job, and all you have to pay him then is $4.50, welfare pays the other half of his wages for you." See how many people are suddenly "unemployed."

Obviously if a plan of the kind that I mentioned were implemented properly, it would not allow for any current employee to be laid off by an employer seeking to hire a temporary half-rate-of-pay unemployed person.

Rick