From Robert Reich:
“The stock market has as much to do with the real economy as the weather has to do with geology. Day by day there’s no relationship at all. Over time, weather and geology interact but the results aren’t evident for many years. The biggest impact of the weather is on people’s moods, as are the daily ups and downs of the market.
The real economy is jobs and paychecks, what people buy and what they sell. And the real economy — even viewed from a worldwide perspective — is as precarious as ever, perhaps more so.”
More here.
Have a happy Labor Day.
Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com
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Tags: economic crisis, economy, employment, finance, Labor Day, Robert B. Reich, Robert Reich, stock market, unemployment, Wall Street
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