Proof that the country thrives on failure.
A guy created a fake job ad to see what the job market looked like. Within 24 hours, he got 624 responses back for a $12/hour job IN AN EXPENSIVE CITY--- 39% of them have college degrees.
ON TOP OF A HYPERINFLATED COST OF LIVING INDEX (hello! Why are rents going UP during high unemployment?)
Not only do we have a MASSIVE TRADE DEFICIT with China, Japan, OPEC- we also have a private sector investment DEFICIT with the highest capital gains tax, a carry trade incentive to invest elsewhere and public monies that are used to prop up a dead end real estate thieving sector and banks who can't get China to remove it's ban against it's individuals investing in the US financial sector.
They're going to lose that money in slot machines, we might as well make good use of them.
The entertainment biz lobbied some Chinese official to allow them access to their market for profits.
It worked out well for them.
THEN, the stupid ghetto ass SEC went after the entertainment biz for doing what Wall Street should have been doing all this time. The boomer majority elected citizen pimps, I mean "politicians", k&j streets are both economically and financially illterate and altogether worthless.