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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (23115)	5/16/2004 1:53:19 PM
From: Lizzie Tudor	Respond to of 81568

BTW from briefing: 7:16AM Investors should not get too excited about the recent labor report given last Friday - NY Post : The New York Post discusses Friday's labor report and suggests that investors should not get too excited about all those new jobs that were supposed to have been created in April. According to the article, the bottom line is that most of the 288K jobs that the Labor Department says were created last month may not really exist and they could be figments of statisticians' optimism. Back in the March employment report, the government added 153K positions to its revised total of 337K new jobs because it thought (but couldn't prove) loads of new co's were being created in this economy. That estimate comes from the Labor Department's "birth/death model." As staggering as the assumption about new co's was in March, the Labor Department got even more brazen in April as it was disclosed that these imaginary jobs had been increased by 117K to 270K for the latest month. Without those extra 117K make-believe jobs, the total growth for April would have been just 171K, which is sub-par for an economy that's supposed to be growing at more than 4% a year.

To: longnshort who wrote (23115)	5/16/2004 3:07:32 PM
From: American Spirit	Read Replies (2) \| Respond to of 81568

Bush has lost 2.85 million manufacturing jobs and almost 2 million jobs overall. Good jobs have replaced by lopusy ones. The jobs growth in the past few months is welcome but not really tax-related, it's mainly interest rate related. The tax-related part is just self-serving Bushie spin. Bottomline, the rich invest their tax savings and don't spend it or hire people. Wall Street wins but people don't. The most jobs were recently created in seasonal interest sensitive industries like construction (almost none in manufacturing) plus in the healthcare field where Bushies are letting inflation climb unchecked due to huge cash contributions to their campaign. There is also jobs growth in the defense and security sector. That's due to massive government deficit spending. But the deficit spending has created a paltry amount of jobs which is shocking and disturbing. Bottomline, Bush will over-spend by 2 trillion his first four years and yet lose close to 2 million jobs, mainly good jobs. How could that be? Where is all the money going if not into salaries? Two trillion in deficit spending should have created 10,000,000 new jobs. Instead it has done very little and left us with an enormous debt. That is awful. The low interest rates are the only thing that has kept this economy afloat and that's Greenspan's doing, not Bush's. Now interest rates are rising again so all bets are off.