Economic Doomsday?

http://www.nytimes.com/2009/03/07/business/economy/07jobs.html?_r=1&hp

The New York Times paints a very dire picture in this article; but I am not incredibly convinced these jobs "are not coming back".

Here is what I do think; the New York Times is correct in saying the economy is restructuring. Until credit flows wildly to consumers again (which in my opinion might not be that bad of a thing, although I realize we can't get out of this mess until businesses and individuals can take risks, which of course involve credit) we probably do not need as many employees in financial services. And due to the lack of profitability in manufacturing domestically, is it obvious to me those jobs will not be coming back.

I also think the New York Times is hitting the nail right on the head by saying (if you read between the lines) unemployment benefits are not helpful for the economy; money spent on training and education would go much further.

Here is what the New York Times fails to mention (at least after my first read): There ARE industries that show the potential to grow, and I believe these industries could take in many displaced workers if we play our cards right. The obvious include health care (those baby boomers are going to be using lots of drugs, if they are not already), education (if we are going to re-train everyone, the education industry will continue to grow) and of course energy (lets replace those manufacturing jobs with green jobs). Lets give people (all people, not just the unemployed) grants and low-interest loans that allow anyone to move to these growing industries. Doing so will better prepare America to be the leader in these industries and will elevate our economy.

Until we meet again, goodbye!