For the fourth quarter of 2012, the jobless rate will average 7.6 percent to 8.1 percent, versus the 7.7 percent to 8.2 percent in the previous estimates by policy makers.The link is here. Just think: US policy makers predict a drop, at best, from 7.7 percent to 7.6 percent in unemployment fifteen months from now. Meanwhile, in the here and now, Gallup has the unemployment rate at 10 percent. Worse, the trend is up. Let's see: how much stimulus money has the government pumped into the economy? $30,000 per America. $120,000 per the "average" 4-person family.
(The Gallup link may break; it is probably a dynamic link.)
I cannot make this stuff up.
Why are you so distressed about positive economic forecasts ?
ReplyDeleteDo you have other forecasts you are willing to share?
Us economy is rebounding right now and will gain momentum in the next 4 to 8 quarters or until Bennie the banker tightens. Bennie wants Mr Obama elected to a second term. Sorry if that bothers you. If your investing/financial plan is for some other outcome you are going to be very disappointed.
I'm just impressed our policy makers can forecast a change in unemployment from 7.7 percent to 7.6 percent fifteen months from now.
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