There's another false security spamming the headlines this week, reassuring that the economy isn't as bad as it seems. After four straight months of cutting jobs we all are to be jubilant of the fact that job cuts dropped from 5.1% in March to 5.0% in April. What the heck?
Let's look at this claim for second. In 2008 the total in job losses is over 260,000, with over 80,000 of these losses occurring in March. April contributed 20,000 loss jobs, and this has been eough of an improvement for some to think the economy's wounds are healing.- Also, the slight rise in the worth of the dollar this week has excited investors and manufacturers. Stocks ended this week on the higher end and currency gains are spreading optimissim for the ease in food prices and international business transactions. Most of this business looks better for the blue suits on Wall Street than the economy. Assuming, the majority of US citizens still count when describing the economy.
President Bush seems content with the stimulus package, as if $300 is the healing powder for an unemployed college grad with debts. "This economy is going to come on. I'm confident it will," Bush claims ever so confidently. Of course he has job security for now.
Retail sells have been falling since February. Auto and furniture sells have also dropped. The drop in purchase isn't a drop in demand it's the effect of new priorities-debt, foreclosure and losing a well paying job with benefits. Folks still need cars and want furniture. But, there's no job security after signing for that big home loan and gas prices are ignorantly high.
Enters the Capitol Hill geniuses, Bush and his classmates seem to think a married couple armed with $1200 can stimulate the economy. Bull: They owe that money to the bank a month ago and the bank knows that money is coming. Take the fact that export revenue rose 1.3%, one would wonder if sending a rebate to citizens in India and China would be a better stimulant for “our” economy.
