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Goodbye jobs, hello QE3?
CNN ^ | 06/03/11 | Nin-Hai Tseng

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 ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; job; qe3
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To: indylindy
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.

TEA-P7

Hope and Change.... Tragic.


21 posted on 06/03/2011 7:40:06 PM PDT by BobP (The piss-stream media - Never to be watched again in my house)
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To: TigerLikesRooster

How many jobs need to be created just to keep up with college graduation rates and other young adults entering the workforce each year?


22 posted on 06/03/2011 7:56:39 PM PDT by Tai_Chung
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To: cashless
No wishful thinking here. Folks are angrier now than they were at Carter. Course you could be right. We will see.
23 posted on 06/03/2011 8:38:26 PM PDT by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: Diana in Wisconsin

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.


24 posted on 06/04/2011 6:02:04 AM PDT by TheWriterTX (Buy Ammo Often)
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To: TheWriterTX

Approved. :)


25 posted on 06/04/2011 6:27:25 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: TigerLikesRooster
The demand for software engineers is the hottest I've seen it since 2000. The company I work for is losing a few people a month and having a devil of a time replacing them. I get a few inquiries a week from recruiters.

I expect the demand for more visas is not far off.

26 posted on 06/04/2011 6:30:16 AM PDT by Glenn (iamtheresistance.org)
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To: Glenn
The demand for software engineers is the hottest

Which industrial sector creates so much demand for new software? Banking/finance, computer game or defense industry?

27 posted on 06/04/2011 6:38:50 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster
Here, in Pittsburgh, medical devices, banks, and analytics are hot. VC capital is flowing to anyone who has a "social" software design. Defense money is going to a lot of west coast companies.

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.

28 posted on 06/04/2011 6:47:44 AM PDT by Glenn (iamtheresistance.org)
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To: TigerLikesRooster
The swindlers, wreckers, petty bourgeoisie, and Kulaks are responsible for all this.

Dear Leader and the Vanguard of the Proletariat know just how to take care of these Enemies of the People...

29 posted on 06/04/2011 7:17:05 AM PDT by Gritty (Like Lenin, Obama's aim is to make things worse to make them better - James Lewis)
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To: Tai_Chung

I think it’s somewhere in the neighborhood of 300,000 per month.


30 posted on 06/04/2011 3:31:31 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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