Bankruptcy

Why There Are No Jobs, But Plenty of Bankruptcy Cases to go Around!

By Joseph McDaniel, Esq.

And this isn't a blog about macro-economics, because I'm just a bankruptcy lawyer, and I'm not smart enough for all that theory.

But my understanding is that the middle class has not gotten a raise in real income for several decades, for a lot of reasons.

One of those reasons is that production of goods has been outsourced by a large number of large corporations.

I was reminded of the plight of the middle class in the United States when I heard a satirical song when I was looking for some old guy rock and roll.

Seems to me that there are countries that have decided that they want to produce their own energy instead of importing it, and they therefore pay less for their energy. And there are countries that decided it would be good to make it easy for manufacturers of goods, and they have jobs coming out of their ears. Kinda like the United States when it was the arsenal of democracy, and when it could produce its own tanks, entirely in the United States.

And then there were very few bankruptcy cases.

So maybe we ought to figure out what makes it hard for manufacturers to produce in the United States, and make those barriers go away.

Or we can always just keep mass-producing bankruptcy cases.

Your call, of course. I just sit here chained to the desk, trying to help some poor devil who tried all his life to work as an engineer, only to find that we don't need engineers in the United States anymore.

So maybe he can go back to school and become a hair-cutter, or learn to give therapeutic massage.

And we can watch how well an economy works when we all trade haircuts for back-rubs for car washes. You know, an economy that is entirely based on services to one another, instead of production of anything whatsoever.

One nice side-effect of no production of any actual products at all is that the air will be very, very clean indeed.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on February 09, 2010 (boomark / email).