[TropicCat]

Today's news

Experts at loss as to why recovering economy can’t put more back to work

"....It's a mystery that has puzzled even Federal Reserve Chairman Ben Bernanke: if the U.S.
economy is growing rapidly, why isn't it creating jobs?...."

LOL..it is creating jobs... lots of them.... just not in America. But the Chinese and Japanese
both thank us for our stimulus packages... very considerate of us .... can they have more please??

The article goes on to say:

"The Fed and private economists are trying to answer the bigger question of why the labor market shed 8.4
million jobs during this recession. Although the downturn was the deepest since the Great Depression, the
job losses were even more severe than most forecasters had predicted based on models that compare
economic growth and employment.

Bernanke offered two possible explanations.

"One is that maybe the recession was deeper than we thought," he said in response to a question from a member
of Congress last week. "The other is that the productivity gains were greater than we thought they would be
when firms were able to cut their work forces and still maintain output."

The first theory gained support when one of Bernanke's staff economists wrote a research paper
suggesting that the most commonly used measure of U.S. economic growth, gross domestic product,
had understated the depth of the recession and overstated the recent recovery."

I'm vindicated at last!!!! The light bulb finally went on at the FED!! Hell, they probably read it here. It wouldn't
be the first time.

The March employment report is due out on Friday. The consensus of experts expects a gain of 190,000 jobs, which
would mark only the second month of job growth since the recession started in December 2007, and the
largest increase since March of that year. All in all a gain is a gain, right? Not so fast.

Government jobs are expected to account for the bulk of the growth, thanks to the once-a-decade Census.
They have hired hundreds of thousands of temporary workers, but the jobs only last a few months.

Oh yeah... count this one as a big WIN. The DOW will probably go up a hundred points before some dummy figures out
that companies still are not hiring at all.