Wall Street vs. Main Street
The disconnect between the Two Americas, Wall Street and Main Street, is more glaring than ever. Last week there were $93.8 billion in mergers and acquisitions in the U.S. It was the busiest week for mergers in nearly five years. Great news and huge bonuses for a few senior executives; not so great for those whose jobs will be eliminated. Some people will be breaking out the champagne. Others will be breaking out the want ads.
And according to most economists, our “jobless recovery” is not expected to continue into 2005. The “recovery” part, that is. The presidency that has created the fewest jobs since Herbert Hoover is expected to continue its stellar performance next year.