by William Teach | May 31, 2011 7:53 am
Gee, if only the administration would shift their focus to jobs…..well, not really, because the Democrat policies on jobs and the economy have so far been a disaster. Anyhow
The economy and jobs will be front and center this week — whether investors like it or not.
The agenda is heavy on economic reports and culminates with the release on Friday of the govern
CNNMoney’s survey of economists forecasts that the U.S. economy created 178,000 jobs in May, down from 244,000 jobs a month earlier. The unemployment rate is expected to tick down to 8.9% from 9%.monthly jobs report.
Expect there to be lots of use of the word “unexpectedly” come Friday.
Stocks are on pace to have their worst month in a year after several pieces of economic data came up short of expectations.×
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Weekly claims on jobless benefits, a real-time indicator of the labor market, have remained stubbornly above 400,000 for seven weeks. Meanwhile other measures of the health of the economy, such as pending home sales and gross domestic product, have also been disappointing.
After the Stimulus, Son of Stimulus, massive federal budgets, insane spending, and the president focusing like a laser on jobs, unemployment is still “stubbornly above 400,000.” Who would have thought that a guy who has never had to hire people, never had executive experience, would be unable to affect policies that push companies to hire.
“It looks like the foot is coming off the economic accelerator,” said Fred Dickson, chief investment strategist with D.A. Davidson & Co.
I wasn’t aware it was actually on the accelerator, unless we are talking about an accelerator on moped.
This is why 2012 is so important: the economic policies of the US federal government need to change, and change fast. We cannot continue to creep along, as the anti-business Obama administration destroys this country. The GOP needs to retain the House, and take the Senate and White House to put in place sensible pro-private sector policies.
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
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