International Law

CNBC: U.S. Should Emulate China on Unemployment

By Stan

If there are any Americans out there questioning their political affiliations, here is a story for you.

CNBC is a cable network in the U.S. that focuses on business. It was a major cheerleader for the various types of business (real estate, securities) that led to the economic bubble we are all now dealing with. One of their hosts, Jim Cramer, has had to defend himself over the past couple of weeks against a major slamdown by Daily Show host Jon Stewart.

The latest indictment of CNBC should be enjoyed in its original form, but a quick introduction is in order. The clip below is from a show on MSNBC, an affiliate network. The pinhead commentator, Erin Burnett, brings up a viewer email to discuss whether the U.S. should abandon its system of unemployment insurance.

What’s the justification for this? According to Burnett (sorry, according to the viewer email), unemployment benefits make people too lazy. Folks would rather sit at home and collect those fat unemployment checks than go out and look for a job.

Holy crap. This reminds me of the inflammatory anti-welfare rhetoric of Ronald Reagan in the 1980s. If you want to come across as a heartless plutocrat, my advice is to emulate Erin Burnett.

Instead of the U.S. following China policy in this area, China should institute an unemployment insurance system here — I’ve said this before. That being said, it is much easier for people thrown out of work here in China to find an inexpensive place to live and food to eat than it is in the U.S.

If you lose your house in the U.S., it costs a shitload of money just to get yourself into an apartment (lots of cash needed up front). Of the two countries, I’d say that the U.S. is more in need of unemployment insurance benefits than is China, although there are millions of people here who could really use the help these days as well.

Anyway, if you want a reason to get pissed off, check this out (h/t Crooks and Liars):

Youtube

Seems like bad economic times bring out the best and worst in people. Some push for policies that will help those in need, and others look for ways to screw over folks who are poor or unemployed. At least we know which side Erin Burnett is on (sorry, I mean that “viewer” who wrote the email — why do I keep forgetting that?).

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Full post as published by China Hearsay on March 15, 2009 (boomark / email).