A Jackass, his PAL(indrome), and GOLD Message Board

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Pastimes : A Jackass, his PAL(indrome), and GOLD

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To: philv who wrote (74)	1/10/2003 3:46:03 PM
From: Jim Willie CB	Read Replies (3) of 1210

unemployment rate will be tricky because USGovt/Fed monetization could save many jobs at the expense of currency debasement and price inflation I will never back down from an estimation challenge though I thought 2002 would have ended above 6.0% our economy is incredibly stubborn, but not invinceable we have several factors to consider on job layoffs - car sector implosion (with full vertical integration) - gradual stall (then decline) of real estate - continued mainstream expense cutting (recovery hopes given up) - investment banking and brokerage cutbacks - state and city worker cutbacks - California brink of bankruptcy (plus NewYorkCity, other states) I will say 2003 ends with jobless rate at 6.7% and 2004 ends with jobless rate at 7.5% these are not standout numbers, but they will hurt badly if true your friends at 10% overlook the vast power of the Feds to trade inflation for job savings, which is already promised / jim

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