Where’s This Booming Economy? GM To Cut 6000 Workers

I keep reading and hearing we have a booming, thriving economy. Maybe it's that I'm just not looking in the right places. What set me off is the news that General Motors is getting rid of 6000 employees. Fa la la la la.

I realize this is "normal" in a state like Michigan, where the auto industry is a big deal. And the economy is cyclical. But 6000 jobs is going to hurt. Stop me if you've heard this before. The town's biggest employer is pulling the plug. Along with the thousands of jobs lost are five auto plants shutting down. I guess we should be happy that's not happening here again. But truth be told, we're still reeling from the GM stamping plant going away.

If there is a bright side, GM leader Mary Barra says GM is hiring left and right in the high tech positions. Presumably, software experts out of college are cheaper than twenty year veterans designing cars. Oh, yes, cars. GM is following Ford and others, and essentially cutting cars out of the mix. Consumers want SUV's and trucks. Fair enough Gas is cheap. But...gas has been cheap before and it's also gone back to over $4 a gallon.

Nobody is a bigger fan of electric cars than me, but there's a big problem here. Electric cars are not cheap. They are way, way more expensive than gas powered cars. And the people who'd be most likely to buy one are going to be paying off college loans until they're 40 or older.

While the Amazon's of the cyberworld continue to decimate local economies, I'm still curious where this booming economy is? Retail? Sure seems like the growth is working in distribution centers.

All this just feels like a giant house of cards waiting for a gust of wind. I hope I'm wrong.