Economy picking up steam :)

[Jerrek]

http://www.cbc.ca/stories/2004/02/06/USjobs_040206

U.S unemployment rate falls to 5.6 per cent as 112,000 jobs created

WASHINGTON - U.S. companies added jobs in January at a rate not seen since December 2000, pushing the unemployment rate south of the border down to 5.6 per cent.

The U.S. Labour Department said employment grew by 112,000 new positions last month, lowering the jobless down by 0.1 percentage point from December to its lowest level since October 2001.

The January jobs increase marked the fifth straight monthly increase in employment, the U.S. government said.

While job growth appears to picking up, January's report was actually below expectaions. Economists had been forecasting the U.S. economy would add anywhere from 150,000 to 180,000 new positions.

Tax cuts at work. If the economy continues to grow, I don't really see Kerry standing a chance against President Bush.

[downquark1]

http://www.brillig.com/debt_clock/

http://www.itv.com/news/1212577.html very

[Jerrek]

Indeed, the national debt is disturbing, but ignoring U.N. fees, and collecting all that the rest of the world owes us, it would bring it down substantially.

[Ignition]

It's a very high risk game the US is playing, and the tax cuts etc are certainly not doing the most to enhance economic growth, the benefits from them are only really being felt by the most wealthy Americans from what I've seen, most are seeing very little benefits. The main assistance comes in making US exports cheaper with the very weak dollar. Downside to this plan is it makes buying the dollar less attractive. To sustain the current debt the US needs billions each day - they aren't too far away from not getting enough due to the low interest rates which are the other big assist to the US economy.

You can't just magic up all that the rest of the world owe you (thought you were Canadian?) if the rest of the world demanded what the US owes them the US would immediately go bankrupt, it's the biggest borrower in the world, just not as felt because it has such a large GDP - in the 80s when Reagan was running up the deficit it wasn't too bad because the US was a creditor to the rest of the world, the USA is now in debt to the rest of the world to the tune of $3 trillion. This is what happens from spending too much and taxing too little, having an economic policy to keep donors and voters happy rather than running an economy responsibly.

I'm sure those extra jobs will be a great comfort to the 1/4 million Americans who are about to run out of unemployment benefit in the next month or so.

Ah by the way:

While job growth appears to picking up, January's report was actually below expectaions. Economists had been forecasting the U.S. economy would add anywhere from 150,000 to 180,000 new positions.

You also forgot that this year's deficit doesn't include any of the costs of Iraq or Afghanistan, and has various other omissions as well. There's also that most economists consider the deficit reduction plan to be pure fiction, and the budget such as it is to have dubious maths in its' predictions. Then there's that those jobs created are of lower average salary than the jobs they are replacing.

Ah URLS:

http://biz.yahoo.com/bizwk/040203/pi...6_pi031_1.html
http://quote.bloomberg.com/apps/news...d=aoomu3l_aYQ0
http://www.busrep.co.za/index.php?fS...ticleId=340111
http://www.j-bradford-delong.net/mov...es/002242.html
http://www.jubileeplus.org/analysis/...tal_flight.htm

Most interesting:

http://www.globalpolicy.org/socecon/...8worrisome.htm
http://uk.biz.yahoo.com/031221/80/ehl53.html

So this is financial prudence. Wonder what the plan is if the USA gets into real trouble, probably to declare war on the major creditors to it. Anything to preserve US dominance innit:

http://www.newamericancentury.org/iraqclintonletter.htm
http://www.newamericancentury.org/st...principles.htm

[Flubflow]

Surely they could bung 50cents tax on a gallon of petrol and they'd be well on their way to being in the clear by xmas or thereabouts and the public would hardly notice the difference (based on 5 times the vehicle owning population and 3.3 times the consumption of petrol per head than the UK). It would probably cost the average 6 litre SUV owning fat ass only $10 extra a week.

[kronas]

excuse me for one second, but who does the US have that high debt owing to ?

if its to other countries why havent they collected ?

[Jerrek]

International bankers. They *want* countries to be in debt, because that is how you can control them. The same people that control the Federal Reserve and the CFR.

[Flubflow]

Their monthly statement must make hilarlious reading.
"Your minimum payment this month is 56,000,000 to be recieved by us on or before the 28th....."

[Shaun]

Makes you realize what a great state our country is in

[Ignition]

Originally Posted by Flubflow

Surely they could bung 50cents tax on a gallon of petrol and they'd be well on their way to being in the clear by xmas or thereabouts and the public would hardly notice the difference (based on 5 times the vehicle owning population and 3.3 times the consumption of petrol per head than the UK). It would probably cost the average 6 litre SUV owning fat ass only $10 extra a week.

Unfortunately that may drive down ownership of big cars, fuel consumption, and therefore oil companies profits which is bad. Already those buying the really big beasties get something crazy like $110,000 in tax breaks back for buying that enormously fuel inefficient car. Power and oil companies rule Dick Cheney, Cheney rules Bush, therefore Cheney (currently fighting off a lawsuit as he doesn't want the USA public to see what those private chats he's had with power companies while vice-president were about, though he should be fine, went on a hunting trip with one of the judges a couple of weeks ago ) rules the White House. So that really isn't going to happen.

You've also got to remember that a lot of the USA doesn't drive anywhere. 200 yards to the local 7-Eleven, in the car you go, and it's such a big sparsely populated place.

[Flubflow]

Originally Posted by dellwear

Makes you realize what a great state our country is in

Somehow that just does not fill me with great confidence.

[Ignition]

Originally Posted by dellwear

Makes you realize what a great state our country is in

Yikes I wouldn't go that far. Taxed to the hilt for not much, an NHS that is far too expensive to be sustainable, dodgy politicians, crumbling transport systems, a country with mass immigration, a good part of it illegal, low economic growth, lack of foreign investment, paranoid local investors not investing in anything, no investment in sport, etc... and yes I hate it and yes as I hate it I am planning to emmigrate lol

Originally Posted by Jerrek

International bankers. They *want* countries to be in debt, because that is how you can control them. The same people that control the Federal Reserve and the CFR.

lol - is that a 'conspiracy theory' too far, or what? I've no doubt you are right, but can you substantiate it?

[Shaun]

Originally Posted by JustAnotherN00b

Yikes I wouldn't go that far. Taxed to the hilt for not much, an NHS that is far too expensive to be sustainable, dodgy politicians, crumbling transport systems, a country with mass immigration, a good part of it illegal, low economic growth, lack of foreign investment, paranoid local investors not investing in anything, no investment in sport, etc... and yes I hate it and yes as I hate it I am planning to emmigrate lol

Things aren't that bad, the economy is fine, we're spending a little too much but that's easy to sort out.

We **have** an NHS!

The transport isn't as bad as people make out, I don't have a car and get around just fine.

The mass immigration could become more of a problem, but when the government tried to curtail it the human rights people took them to court and got the decision overrode.

We have low unemployment, and personally I'd rather pay high taxes and have a job than low taxes and 3.5 million living on the dole.

And as for sport, who cares, we're all too busy here :p

The UK Pound is doing quite well against the US dollar, now would be a better time to fly over to the states for a break when each £1 = $1.85.