As the OWS (Occupy Wall Street) mob hovers around Wall Street, and U.S. unemployment hovers around 9%, a new report by the NY state comptroller predicts that Wall Street may lose up to 10,000 securities jobs by 2012. From Heritage’s Foundry:
The news is the latest in a long line of dark clouds to gather over the U.S. economy. Unfortunately, the policies the Obama Administration is pursuing are making businesses less likely to succeed, not more likely to increase hiring.
As the Wall Street Journal so aptly explains:
To reduce unemployment, America needs more entrepreneurs like Steve Jobs, who started Apple in his garage. Today Apple employs 49,000 workers. The government cannot centrally plan such entrepreneurial innovation. It can, however, encourage it.
Perhaps the disgruntled Wall Street protestors could actually pick up and peruse a copy of the WSJ while they’re lounging around – they might get a clue.
OXYMORONS: Smash capitalism! ~ Give us more jobs!