U.S. Jobs & Wage Increases Are Important, But They Depend On Improvements Being Made In The U.S. Residential Housing Market
Restoring jobs and underemployment is one thing, but restoring ( increasing ) wages for U.S. workers is a VERY different ( yet somewhat indirectly related issue ). Any U.S. Domestic Jobs Policy initiatives / changes will not, by themselves, have much of an effect on U.S. wages. That is a more global issue and frankly much more complicated involving many more U.S. Domestic Policy issues as well; especially in our current economic and political state of turmoil.
I believe that jobs and wages will likely be on the ‘back burner’ for at least several weeks, while the EU Debt Crisis, talks of a possible QE3 as well as the U.S. Debt Ceiling are on both of the ‘front burners’. Global monetary policy and debt issues must be better coordinated. ( It is usually not safe to cook 3 things on two burners, but necessity dictates it, What can you do ?) Rest assured that the Obama Administration will attempt to tackle unemployment / underemployment / wages. Only so many issues can be taken on at one time unfortunately.
I would personally love to hear more about what is being done by anyone to improve the U.S. residential housing market … So far, I see so viable exit strategies and/or solutions. I believe U.S. residential housing market is still the big white elephant in the room for the U.S. Economy. It was a big reason, among others, why this global financial mess started and I see no comprehensive realistic strategies that are being discussed and/or implemented to improve things. Domestic residential housing still has many, many problems that will by itself, likely have a large negative effect on our U.S. economy for the next 6 months – 2 years. The timeline may depend on how fast we act. We shall see.
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