Friday, Aug 06, 2010
Lets rev up those 'copter engines...
Bloomberg: Company Payrolls Rose by 71,000 in July; U.S. Jobless Rate 9.5%
Nobel Prize-winning economist Joseph E. Stiglitz said the U.S. still faces an “anemic recovery,” requiring another round of “better designed” stimulus measures from the government.
“The recovery is so weak that it is not strong enough to generate new jobs for the new entrants in the labor force, let alone to find jobs for the 15 million Americans who would like a job and can’t get one.” Stiglitz told Bloomberg Television in an interview in Sydney yesterday.
The jobs report may help determine whether the Fed takes any new measures aimed at boosting growth or sticks to its outlook that the “extended period” of interest rates close to zero and a near-record $2.3 trillion balance sheet will eventually bring down unemployment.
i see "Eventually"!!
4 Comments
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1. techieman said...
"Options outlined by Bernanke last month include enhancing the low-rate commitment, reducing the 0.25 percent rate the Fed pays on banks’ reserve deposits and maintaining or expanding the amount of assets on the balance sheet. The policy-making Federal Open Market Committee next meets on Aug. 10."
sorry for posting but ran out of room.... in any case August 10 - watch this space
2. jack c said...
I also read recently that Arnold Schwarzenegger has declared a fiscal emergency in California as they are faced with a $19 Bn deficit and face fiscal meltdown. It will be very interesting to see what the Federal Open Market Committee proposes on Tuesday of next week.
3. mark said...
talking of arnie, who thinks he should stop being in films, if he won't stop then he should donate his fee to the people he declared would be on minimum wage who work for his state.
Bet he got several million for the latest film
4. jack c said...
Arnies next movie is ironically titled "The Expendables"