ian ot ot ot ...CALLING ALL "FED HEADS"....THAT MEANS YOU LEE!
so ian, how do you think the "greenspanistis" will explain this?
fed should raise rates to stem stocks, bis says
"the bank for international settlements said record us stock prices argue for higher us interest rates,though the bis did not directly call on the fed to do so. the bis, headed by ny fed president mcdonaugh,said the us economy is in danger of overheating. that could lead to recession,sharply lower stock prices and falling consumer spending. that would hurt the fragile global economy,which has relied on us growth. but policy makers must now focus on "exit strategies", the bis said
meanwhile in the real world:
"job cuts announced by major us companies rose 2% in may from april, according to challenger,gray & christmas. layoofs were up from a year earlier for the 14th straight month. so far this year, layoffs have jumped 49% from last year to 320151. if this pace holds 1999 will be the decades records for layoffs"
in spite of this the "job market" is tightening, according to gummint figures and the fed...it's true, ya don't have to wait in line so long at mcdonalds....now to get your phone lines installed or repaired..that's a different story.....and the ue jobless rate down to 9.6%....nothing like "full employment"....
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