Thursday, February 04, 2010

Why should anybody have been surprised that the number of people losing their jobs last month didn't go down?

What happened last month that would have given nervous employers a reason to be optimistic that better times lie ahead? What happened that would have given employers a reason to hold off laying off workers?

Did Obama give a speech last month in which he gave people confidence that he was up to the task of leading this country out of recession? Did anyone at the Treasury Department or the Federal Reserve take action that would lead employers to conclude that the government was no longer favoring Wall Street over Main Street? Did the Democrats who control both chambers of Congress give any sign that they were going to stop doing and saying things that made business nervous?

Of course not! If anything, everybody mentioned in the previous paragraph continued doing and saying the very things that have made employers and consumers so very nervous over the past year. There wasn't anything that gave people a basis for abandoning their negativity and pessimism, let alone anything to make them adopt a more positive outlook.

And in the absence of positive news, employers are going to continue thinking that tomorrow's revenues are going to be lower... and employers who face lower sales are going to quite logically conclude that they need to reduce staff to stay ahead of the declining revenues.

Obama and the rest of the ruling Democrats just don't understand that the economy isn't going to get better until employers start hiring... and employers aren't going to start hiring until after they've stopped laying people off... and employers aren't going to stop laying people off until they have stopped worrying that tomorrow's sales and profits are going to be worse than today's... and employers aren't going to stop worrying about tomorrow until Obama stops saying and doing things that makes them worry about tomorrow.