Skip to comments.Goodbye jobs, hello QE3?
Posted on 06/03/2011 6:46:37 PM PDT by TigerLikesRooster
Goodbye jobs, hello QE3?
By Nin-Hai Tseng, writer-reporter June 3, 2011: 10:22 AM ET
It's official: Most economists have been way too optimistic about pace of the economic recovery. Will the latest jobs numbers spur the Fed to act again?
FORTUNE -- Virtually everyone has been wishfully thinking that what's been slowing down the U.S. economy was only temporary. But the spate of crushingly disappointing economic data has all but confirmed that most economists have been way too optimistic, and that the problems ailing markets are not going to disappear anytime soon.
jobsStart with today's unnerving unemployment figures, which will no doubt lead to calls for the Fed to step in and play doctor again. After several months of strong hiring, job growth slowed sharply in May, adding only 54,000 nonfarm payroll jobs. This compares with an increase of 232,000 jobs in April. The unemployment rate ticked up 9.1% from 9.0% in April. The figures were dramatically lower than expected -- economists had been predicting a rise of 160,00 payrolls and a slight drop in the unemployment rate, to 8.9%.
(Excerpt) Read more at finance.fortune.cnn.com ...
No, NO, and more NO.
3 was ALWAYS on the table
This regime is either insane OR purposely destroying the economy..
Not if you are a printing press operator.
Shakespeare said, kill all the lawyers. I think he meant lawyers and economists.
Keep digging, Jerks! Just when we thought we’d hit Rock Bottom, QE3 will prove that there’s a whole ‘nother BASEMENT under Rock Bottom with these idiots in D.C.! Grrrr!
But, my Gold & Silver are up today and continue to climb. I’m really going to miss America when I buy my own private island and start my own Democracy. :)
P.S. All Freepers (well, most, LOL!) are invited to join me! :)
Just showing that you don’t follow conservative lawyers, economists, or Shakespeare.
Queen Elizabeth III?
And hello hyperinflation. The MSM/Obama administration will spend all of their time trying to whip up as much hatred as possible against the 'rich'. The 'rich' (ie, small business owners) will be the scape goat for Obama's failed economic policies.
It is the Dims and PFL BO are finished in 2012. They will not be in the majority nor have the White House again in my lifetime. The marxists are finished.
Wasn’t into Henry the VI. Nor am I into Reich or Krugman. Or for that matter Eric Holder.
Totally unexpected. Ain’t Marxism grand?
I do find the notion that the MSM would consult conservative economists (when they make predictions) amusing, though.
Sounds good. Wishful thinking. But sounds good.
Its quite simple, really. No one in their right mind is going to invest in U.S. economic growth as long as Marxists are in charge of the economy.
It makes no sense whatsoever to take additional risks to attempt to increase profits if those profits are simply going to be stolen by the government and redistributed, whether such redistribution occurs via Obamacare, increased taxes, increased regulation, deliberately increased increasing energy prices, deliberate destruction of the currency via insane inflationary policies, or deliberate destruction of the Constitution by ignoring it.
Anyone with any sense is simply hunkering down and trying to hold on to what they already have, trying to keep it from being stolen and redistributed. The best way to do that is to do nothing, that is, to limit all financial transactions, since government theft takes place during those transactions.
Business, economic growth, and jobs growth will begin again when the Marxists are replaced with a government that fosters a genuinely business-friendly environment. Until then, economic stagnation is a given. After all, it’s now an Obama World, baby!
| First comes financial crisis; then comes sovereign debt crisis; then comes financial repression (where government looks for ways to force institutions to hold their bonds. Banks are forced to hold government bonds, for 'liquidity' and pension funds are forced to hold government bonds, for 'safety'). Then comes bailing the banks out all over again.
Bernanke said 2011 growth has slowed to less than a 2 percent in the first three months of this year. The Fed chairman said: ''most of the factors that account for the slower growth in the first quarter appear to us to be transitory.''
Right Mr. Chairman, 'transitory' in the same way the current administration is 'transitory'. The first won't end until the other ends. And I guess if we enter the worldwide socialism club, we'll never have to worry about growth again.
All I know is that if they tell us we had 1.8% growth, it really means we had no growth or negative growth.
It's all fiat money now, meaning that it has value only because the Fed says it does! So we have an unstable economy wobbling atop unsound money. Money that the government takes from taxpayers, or borrows with no intention of paying it back, or prints without end.
Countdown until Obama leaves Office: 596 days as of June 3, 2011.
Hope and Change.... Tragic.
How many jobs need to be created just to keep up with college graduation rates and other young adults entering the workforce each year?
Hardworking, God-fearing, gun-toting uber conservatives respectfully requesting permission to join you on the island; after, of coure, we fight beyond hope to restore what still is the greatest country on Earth.
I expect the demand for more visas is not far off.
Which industrial sector creates so much demand for new software? Banking/finance, computer game or defense industry?
And a general mixed bag of pent up software designs are being funded with all the cash companies have accumulated over the last three years.
That's how I see it.
Dear Leader and the Vanguard of the Proletariat know just how to take care of these Enemies of the People...
I think it’s somewhere in the neighborhood of 300,000 per month.