Suite101.com Market Timing Model: Pollyana checking in with good news on the labor front.

» Rande - Pollyana checking in with good news on the labor front.

Pollyana checking in with good news on the labor front. Incredibly, Congress appears to be ahead of the curve for once. Eliminating the punitive rules on reduced Social Security benefits for older workers and increasing the number of alien work visas (as Kudlow and others have suggested) are good first steps with respect to the shrinking labor pool. Supposedly, the pool of available workers has been a big concern of Greenspan's. But, is it unreasonable to suppose that a ton of Baby Boomers will continue to work past the traditional retirement age (not unreasonable at all if the studies that show the majority have failed to adequately save for retirement are true). And, as Kirk has pointed out so often, is there not a seemingly inexhaustible supply of foreign workers who are literally dying to enter our borders in search of gainfull employment?

-- posted by Rande