I remember a a couple of times in this recession they aren't calling a recession when the empty headed economic pundits joyfully proclaimed the rise in temporary employment as a sign that employment, and the economy along with it, was improving. They saw, and see, temp employment as a leading indicator of recovery on the theory that employers wanted to hire more workers but didn't want to commit fully in case the recovery was a bit further off than they thought. Skeptical me wondered out loud if there was more to the story than the pundits thought. I may have been right to be skeptical. The strong possibility that temporary work (without health or retirement benefits) is becoming the 'new normal' for a larger part of the workforce makes Social Security and single-payer health care programs absolutely necessary. Unless of course we want to go back to the 19th century model epitomized by the unredeemed Scrooge: 'If they (the poor) are like to die, let them get on with it and reduce the surplus population.'
To follow up a bit on the observations above or rather the implication that the pundits are somehow divorced from reality check this article out. I love the following bit of the article:
To paraphrase Voltaire’s observation on doctors, Mr. Economy’s faith healers prescribe medicines of which they know little, to cure diseases of which they know less, in economic and financial systems of which they know nothing.I have often thought that economics, like medicine, was more art (or witchdoctory) than science.