from Wolf Street:
OK, we get it. We saw the havoc that the financial crisis, the bailouts, QE, and ZRIP wreaked on jobs. We saw the destructiveness on jobs and the general economy of the corporate focus on deploying the nearly free capital to buy back shares and engage in financial engineering and enrich the elite of Wall Street and corporate America, rather than investing in labor and training.
We got that the jobs scenario in America will never be the same again. Things have changed. We moved on. Learned to cope with it. We adjusted the statistics, removed people from the official labor force, and thereby brought the unemployment rate in line where we can feel comfortable with it. Life goes on, as they say.
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