Monthly Archives: August 2011

Krugman is right, job creation top priority.

Paul Krugman had an excellent piece in the New York Times the other day(The Wrong worries, Aug.4,2011) to which I  along with more than 500 other readers responded with a comment. I am reproducing the comment below because I think … Continue reading

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117,000 new jobs added in July unemployment drops to 9.1 %

The U.S. Bureau of Labour Statistics has released data that shows that the U.S. economy added a net 117,000 jobs last month and that unemployment has dropped to 9.1 %. This is not a spectacular improvement but it does beat … Continue reading

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Historical data from the bureau of labour statistics employment survey key information

When tomorrow’s employment survey numbers are published they will be closely examined by market traders for signs of continued economic weakness or of economic recovery taking root. To better understand them it is useful to put the monthly survey numbers … Continue reading

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Market mayhem Dow drops 512 points: European and American double whammy need for stimulus not austerity

The Dow dropped over 512 points in today’s trading, the largest one day drop in points since the 2008 crash, arousing fears of a second crisis and a deeper  second recession. Given the destructive American debt ceiling debate, its austerity … Continue reading

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Austan Goolsbee evades answering excellent question about why the Obama administration switched from a stimulus policy that worked to a cutting strategy that won’ t @ TheDailyShow #austangoolsbee

Jon Stewart the comedian asked a devastating question of Austan Goolsbee President Obama’s chief economic advisor who is leaving office about how come if the administration had argued correctly over and over again that the stimulus had worked to create … Continue reading

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U.S. avoids default but unemployed will pay a steep price as slower growth is likely

It is not a very pleasing outcome. President Obama and  more than half  the Democrats in Congress reluctantly accepted the lop sided package of austerity measures that the President and his team negotiated with a much tougher and strategically more … Continue reading

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Foreign holders of U.S. Debt

Many analysts misrepresent the percentage of U.S. debt held by  foreigners who clearly buy the debt because they view it as a  valuable asset. The table below courtesy of the U.S. treasury  details precisely which foreign countries hold U.S. debt. … Continue reading

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