I have been asked by many people just what is up with the economy–they were all looking for a simple definition or a simple explanation. Especially from a working class perspective. Well here goes:

Jobs creates consumers–consumers create demand–demand creates jobs and profit–the reach for more profits creates joblessness and bankruptcy–government intervention, like tax cuts to create jobs—to create consumers–to create demand……and it begins again…. it is a vicious cycle.

Simplistic–yes…..but hopefully that will give a simple yet understandable definition of how the cycle works.