September 02, 2004

Economic Girlie-Men

This post is for all the wimps out there that couldn't stomach pay cuts, losing their jobs, or not being able to afford health coverage. Prepare for more bad economic news, and take it like a man (i.e., walk stiffly and pretend nothing happened):

Brad DeLong alerts us that both Ford and GM will cut production. Clearly a cynical ploy to reduce Bush's poll numbers in swing states.

Wampum notes that consumer confidence is dropping. No doubt because people with less income are too girlie to take on more credit card debt to help the economy. Chickens.

House prices are up. Got to get in now to avoid getting crushed in the out-of-control inflation for things ordinary people buy.

US Airways to cut pilot wages. United plans to do them one better by laying people off and terminating pensions.

Profits weak at Walmart. What a bunch of tools not to be able to afford to shop at Walmart.

The Angry Bear notes that income and savings rates are in poor shape, shows you where to find an infuriating report on executive compensation, and explains that the extra income the Bush administration claims people have been getting has been entirely eaten up by health care costs.

Meanwhile, take a lesson from coca growers in South America. They're such macho capitalists that they've rebounded from the RoundUp pesticide dousing of their countryside to develop RoundUp resistant coca plants. Considering that they can now grow nothing else, this is admirably ingenious, and illustrative of the basic principles of evolution as well. Which is to say that if you spend an enormous amount of effort wiping a group out, and fail to get every last one, then the hardiest and most unkillable will survive to proliferate. Apparently works in business as in nature. (Thanks to a How to Save the World post on the prevalence of toxins.)

So none of yer dang whining.

Posted by natasha at September 2, 2004 05:43 AM | Economy | Technorati links |