I am a regular "Joe" may be not a plumber but a regular average next door guy who is concerned with USA economy. Currently underemployed and with a $ 250 000 in student loans and with a bankruptcy filed not long time ago my passion for the state of the economy arouse ... My purpose is to gather information from different journals and or blogs and help those fellows americans interested in the economy have a broader perception of what really is happening.
With Wall Street accounting one third of wages and with a continuous shed of jobs economists still wondering when Wall Street will start picking up...they expect that to be within a year ... Well I thought that wall street were doing great: with the dow doing so good...well go figure...yet there is evidence that small businesses are not very optimistics and are not hiring, small business account 50% of the total GDP of USA and hires 60% of the private sector work force...And considering what big companies do: they move abroad and report profits overseas while losses are reported in USA, why? Because USA Taxes 35% for having the company in USA meanwhile it tax 2% to be offshore (No wonder they are reporting great profits) ...anyway considering that New York City relies heavily on Wall Street performance for its budget we can expect more to come...
With Wall Street accounting one third of wages and with a continuous shed of jobs economists still wondering when Wall Street will start picking up...they expect that to be within a year ... Well I thought that wall street were doing great: with the dow doing so good...well go figure...yet there is evidence that small businesses are not very optimistics and are not hiring, small business account 50% of the total GDP of USA and hires 60% of the private sector work force...And considering what big companies do: they move abroad and report profits overseas while losses are reported in USA, why? Because USA Taxes 35% for having the company in USA meanwhile it tax 2% to be offshore (No wonder they are reporting great profits) ...anyway considering that New York City relies heavily on Wall Street performance for its budget we can expect more to come...
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