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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (493000)	7/6/2009 1:29:09 PM
From: longnshort	Read Replies (2) \| Respond to of 1575048

GRIM OUTLOOK "The stock market's reaction on Thursday said it all - with the major indexes plunging 2.4 percent to 2.9 percent on the news of a continued job hemorrhage. Despite some economic green shoots here and there, no one's sure when jobs will start growing again," Investor's Business Daily says in an editorial. "At this point in a normal downturn lasting 11 months, the economy should be booming - with big jumps in GDP and 300,000 new jobs each month coming mostly from the private sector," the newspaper said. "But 18 months into this downturn, we're still losing jobs - with 2.7 million gone in the private sector just since January, when the Democrats took full control of the government. "Shrinking GDP has crushed investment. First-quarter gross private domestic investment - a proxy for business investment - plunged 20 percent, or nearly $450 billion, annually. The outlook is grim. "Worse, the June jobs data mark a milestone of sorts: Our unemployment rate equals that of the no-growth Eurozone nations. "Why is this job decline happening? The private sector - the real engine of economic and job growth - won't hire because it's scared of what it sees coming out of Washington. "On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations. "Who would hire new workers faced with that?"