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2007-11-02 Home Front Economy

Henny Penny: "OK, the economic sky may not be falling just yet."

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Posted by gorb 2007-11-02 15:14|| || Front Page|| [7 views ] Top

#1 I am expecting an international economic collapse, most likely China, but due in large part to sound policies, the US has to a great extent been immunized from its effects.

For instance, the dollar is already rock bottom. This is an ideal place to be if there is an international collapse, because everyone will want to buy dollars, but the dollar will have to recover trillions in value before it becomes too strong. Quite a cushion.

In lots of other ways, the US will actually benefit from an international crisis.

Posted by Anonymoose 2007-11-02 21:24|| 2007-11-02 21:24|| Front Page Top

#2 The NYTimes had this to add:

analysts cast doubt on the 166,000 growth figure, underscoring the uncertainty on Wall Street.

Some analysts saw distortions in the data, questioning an increase in administrative jobs. Others said that most of the job gain came from an estimate that the Labor Department makes each month about how many jobs were added by new businesses, known as the birth and death model. The Labor Department did not actually find evidence of these jobs; it assumed they were created based on historical patterns.

And a separate survey of households, also conducted by the Labor Department, presented a very different picture of the job market. It showed that fewer Americans over all were employed in October. The labor force shrank by 211,000 jobs, and 465,000 Americans said they were no longer working.

Posted by Anguper Hupomosing9418 2007-11-02 21:48|| 2007-11-02 21:48|| Front Page Top

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