How's That Recovery Comin?

[randallscott35]

The Fed’s report corroborates data yesterday showing New York-area manufacturing shrank in June and adds to evidence the economy’s slowdown extended through the second quarter. Unemployment above 9 percent makes it difficult for Americans to ramp up spending, helping explain why central bankers may keep the benchmark interest rate near zero into 2012.

“Economic data have taken a decided turn for the worse, manufacturing in particular,” said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York. Job growth “is going to prove fairly disappointing,” he said, and that means “the consumer is not going to have enormous ammunition for spending.”

[Riot]

So if the government came out with a massive government-sponsored (paid for) jobs bill, what would you guys say? And what do you say to the state governments that are choosing to stop long-term unemployment benefits, that puts cash churn immediately back into the economy?

We are in a deep recession. Stop spending. Not a factor that will help recovery.

I thought some of the bailout money was going to infrastructure? Where are the results?

Our infrastructure is a major concern. How about moving some of that ridiculous war money to the corps of engineers?

[jms62]

Originally Posted by Coach Pants

I thought some of the bailout money was going to infrastructure? Where are the results?

Our infrastructure is a major concern. How about moving some of that ridiculous war money to the corps of engineers?

**** that.... We need to get involved in Libya...

Yeah for that fossil water and oil. Piss on energy independence and infrastructure. We've got to keep beating that war drum for resources.

Desperate measures.

[jms62]

Looks like a full court press to get re-elected as strategic oil reserves are released to manipulate the oil markets. Hope we dont need them for real someday.

[otisotisotis]

Originally Posted by jms62

Looks like a full court press to get re-elected as strategic oil reserves are released to manipulate the oil markets. Hope we dont need them for real someday.

Don't worry about that. We'll just have the Fed print more
and something I learned recently that really throws a wrench into guessing how this plays out......the Chinese govt. actually sets their own exchange rate, so there is really now accurate guage what their currency is worth....hmmmm

[hi_im_god]

Originally Posted by otisotisotis

Don't worry about that. We'll just have the Fed print more
and something I learned recently that really throws a wrench into guessing how this plays out......the Chinese govt. actually sets their own exchange rate, so there is really now accurate guage what their currency is worth...hmmmm

it's undervalued.

[otisotisotis]

Originally Posted by hi_im_god

it's undervalued.

that seems to be the consensus...however, with worker's wages on the upswing it won't be long before Corporate America begins to abuse Central American labor.
How will they react to that knowing the debt they hold over average Joe America?

[hi_im_god]

Originally Posted by otisotisotis

that seems to be the consensus...however, with worker's wages on the upswing it won't be long before Corporate America begins to abuse Central American labor.
How will they react to that knowing the debt they hold over average Joe America?

i'm not really sure where you're going with this.

china built an export economy at least partially on the basis of keeping the yuan undervalued. we've been kicking about that for years so i'm surprised it was news to you.

china's massive holding's of american sovereign debt is more of a problem for them than us. what exactly are they supposed to do to punish us? if they sell off, they crash their own economy. it's mutually assured destruction.

State layoffs of 1,300 employees hitting home (Florida)

http://www.tampabay.com/news/busines...g-home/1178821

7500 state jobs on the line in Connecticut.

http://www.nytimes.com/2011/07/01/ny...deal.html?_r=1