The employment numbers that came out today (Friday) were very bad and caught most economists and analysts by surprise. Nothing the Fed has done has worked. Once again the ranks of the unemployed grow, wages flatten out, manufacturing weakens, GDP declines, and savings are spent to maintain lifestyles. The U.S. and much of the rest [...]
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This came from Veronique de Rugy at the Mercatus Center. The data show that since the enactment of ARRA in February 2009, unemployment has not approached previous unemployment levels again (7.6 percent when Obama took office, 9.1 percent today). Unemployment peaked at 10.2 percent in October 2009, an amount significantly higher than the Administration’s caveat [...] The President just finished his jobs speech and I can report with high confidence that it won’t move the needle. In my article last week, “Unemployment Will Remain High Because Obama Will Do All The Wrong Things” I said that Obama would: I suspect that President Obama in his speech this week will come [...] |
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