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Thursday, 07 February 2013

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Mannie Sherberg
Productivity is the measure of how much bang a company gets for its buck -- or, in the robotalk dear to economists, how much output it gets from its input. If, indeed, shrinking productivity becomes the norm, and if the reason for the shrinkage proves to be rising labor costs, we're going to see an increasing number of layoffs -- for the good and simple reason that the quickest and easiest way to reduce labor costs is to get rid of laborers. If all of this happens, then we'll obviously see those unemployment numbers rise once again above 400,000. Conclusion: those rosy economic scenarios we've been hearing of late are as phony as Bernie Madoff's promises. Our economy is sick. and Obama -- a quack doctor if there ever was one -- hasn't a clue as to how to cure it.

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