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While the nation's #economy appears in rude health for today, by far the most worrisome trend is the decline of of new business formation. New businesses are small businesses, those "mom and pop" firms that are what may colloquially be called "Main Street", as opposed to the corporatist, financialist, globalist economy of Wall Street. Main Street accounts for 85% of all hiring in the US, and, historically, has been by far the largest part of the nation's economy. New #business formation collapsed during the Great Recession, and while it has recovered somewhat in recent years it is still far below the pre-recession levels of a decade ago. The nation's long term prosperity has always come from Main Street rather than Wall Street. If Main Street withers, so will the country. We need small businesses, far more than we need Big Business. https://www.zerohedge.com/news/2019-09-08/national-emergency-us-business-formation-goes-negative #news #jobs
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