When it comes to the spectator sport known as the U.S. economy, there’s only one stat I really give a shit about: consumer spending. Jobs rely on consumer spending. Stock market performance relies on consumer spending. Corporate spending is an outgrowth of consumer spending. You get the point. Unless consumers are prying open their wallets, don’t expect much else to happen (except IT spending, which is up mostly because expenditures have been put off for too long).
Okay, we all know that the print industry is completely and totally screwed. Circulation is plummeting around the world … leaving ink jockeys little hope of keeping their jobs for the rest of their lives (which is really their only goal anyway). They may have hope, however, thanks to an unusual French bailout plan. Leave it to French job protectionism to set a model for the rest of the world. The folks at the NY Times – which rain this story – must be salivating right now.