Hispanics, Jobs, Recession…Que?
Anyone who wants to say we are not in a recession is likely voting for Ross Perot this ticket….Either that or still stuck in that time warp from "Back To The Future"….but I digress…
So, the economy resembles a crispy taco shell. Sinking in the middle and crispy around the edges. As for the jobs…I can start a social network right now with all the people I know who have lost jobs…gotten hours cut. You name it, we got it. Dinero? Well that goes hand in hand with the aforementioned subject. I hear there's money growing on trees in Dubai…maybe we should all move there (buy an air conditioner…and you'll be fine.)
And who's suffering a big blow right now? Why Hispanics…of course.
National data shows Hispanics have steadily been losing hundreds of thousands of jobs a month (and that's the reported number my friends).
Why are we losing jobs folks?
I've read the news stories, looked at the statistics… Many of the news organizations I've been reading, are pinning it on the immigration step up. But I beg to disagree.
It's plain and simple…and not immigration.
Americans and American businesses are cutting back – PERIOD. People can't pay their bills, businesses aren't selling, factory lines are cutting back production, interest rates: business and personal are too high, homes are not being built, thus houses are not being cleaned, grass is not being mowed, thus people are not eating out, thus dishes are not being washed, thus no jobs…and no money.
No money is being sent to Latin America as well…Remittances…money sent to Mexico was down 12% last month. That's huge. That means…at the same time a parallel universe in Mexico…less spending, less production…wow look…it's a spiral.
Welcome to your recession folks. The good news is…after we hit bottom, the only way out is up.
Cheers.
-El Pundit