Bank of America to slash 30,000 jobs. Whether or not this is a healthy move, I often hear pundits on the left talking about banks needing to "take a haircut" on the mortgage/financial crisis. I just hope they are aware what it means for a bank to "take a haircut" - losses of jobs and stock prices.
Also, it got me thinking about jobs and national defense. The Left wants to cut defense spending, but in a way, isn't defense spending also just a big job creation machine? Everyone agrees WW2 and the draft is what eventually got us out of the Great Depression. It just seems like if we were to cut off defense spending the result would be higher unemployment.
These might be the right things to do, but they surely are not obvious.
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