Thursday, August 19, 2010

Innovative Ideas to Get the US out of Recession

America might mimic the Chinese example...
Most of China raises minimum wage

By Liu Chang, Global Times, August 19 2010

Some 27 provinces and regions in the country adjusted minimum wage levels this year, with Qinghai Province in Northwest China becoming the latest to do so on Tuesday.

The increase in minimum wage has exceeded 20 percent in about 20 provinces, and the raises in Hainan, Sichuan provinces and the Tibet Autonomous Region have even topped 30 percent, the Beijing News reported Wednesday.
Oh... but wait a second... I forgot that instead of bottom-up growth, the US believes in top-down growth, the famous crumbs-from-the-table economics of Ronald Reagan, so the US will continue to bolster "growth" by providing tax cuts to the ultra-rich in the hopes that they will order enough yachts and mansions that a few jobs will be created for the 14.6 million unemployed in the US.

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