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Politics : PRESIDENT GEORGE W. BUSH
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To: sea_biscuit who wrote (439660)8/7/2003 5:43:03 PM
From: Lizzie Tudor  Read Replies (1) of 769670
 
I certainly can't see how the jobs situation can improve in 04. Lets say we get a huge burst of hiring at the retail level in the US... the best this could do would be to offset the manufacturing/information sector job losses (which are higher paying anyway)... so flat is the best outcome on employment. The stock market might improve (a hard call), home equity will almost certainly be down and interest rates higher, that is my read for the economic picture in 04.

Based on pure earnings the stock market should improve. After all, Cisco's 70% gross margins are helped by the offshoring trends. Problem is we all know sentiment drives stocks, not just earnings.

I think the Bush economic team has figured out the job loss issues because I notice Mary Matalin kindof *changing the subject* looking exasperated when reporters ask about jobs. They used to always parrot back that jobs were a lagging indicator, you don't see that as much now. Maybe they hope nobody notices.
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