AltaTensione
Forumer attivo
il wm master mi cambia le carte in tavola? ok un bell'amico del C***o
Azioni Italia TISCALI INTRADAY 16 SETTEMBRE: IN ATTESA DEL RISVEGLIO
- Creatore Discussione luigina.bs
- Data di Inizio
gico66
Forumer attivo
ci si prepara al meglio per nonno alan.....
il dollaro in recupero riporta l'euro al di sotto di 1,12.....
t-bond future sotto di oltre mezzo punto percentuale...
oro finalmente in discesa....
e intorno sembra tutta una bella spianata verde, nella quale sciogliere cioffy per lasciarla correre libera....
il dollaro in recupero riporta l'euro al di sotto di 1,12.....
t-bond future sotto di oltre mezzo punto percentuale...
oro finalmente in discesa....
e intorno sembra tutta una bella spianata verde, nella quale sciogliere cioffy per lasciarla correre libera....
mcloren
Forumer storico
gico66 ha scritto:ci si prepara al meglio per nonno alan.....
il dollaro in recupero riporta l'euro al di sotto di 1,12.....
t-bond future sotto di oltre mezzo punto percentuale...
oro finalmente in discesa....
e intorno sembra tutta una bella spianata verde, nella quale sciogliere cioffy per lasciarla correre libera....
che poeta .........
gico66
Forumer attivo
mcloren ha scritto:gico66 ha scritto:ci si prepara al meglio per nonno alan.....
il dollaro in recupero riporta l'euro al di sotto di 1,12.....
t-bond future sotto di oltre mezzo punto percentuale...
oro finalmente in discesa....
e intorno sembra tutta una bella spianata verde, nella quale sciogliere cioffy per lasciarla correre libera....
che poeta .........
cioffy è la mia musa....
la puledra....
con te non posso esimermi, mc.....
devo dirlo...
caffè per tutti???
patt
Forumer storico
Fed Policy Makers Confront Jobless Economic Recovery (Update3)
Sept. 16 (Bloomberg) -- Glenn McQueen says he's never seen an economic expansion quite like this one. The Federal Reserve says the U.S. economy is growing. The lines in McQueen's North Carolina Employment Security Commission office suggest otherwise.
McQueen's Fayetteville-based staff meets with 500 to 800 people a day in search of jobs, state and federal aid, food stamps or career counseling because their unemployment benefits have run out. On peak days, that's about twice as many as two years ago. Next month, he will fire eight members of his 38-person staff because of state budget cuts.
Some of them ``will take their place in line'' among the unemployed, he said. ``I keep reminding myself the economy is getting better.''
Economists expect the gross domestic product to grow at a 4.5 percent annual rate in the third quarter, according to a Bloomberg News survey. While growing demand is likely to improve corporate profits, Fed policy makers, who began meeting today at 9 a.m., Washington time, are unlikely to raise interest rates from a 45- year low of 1 percent until job growth improves.
Ninety-nine of 100 economists surveyed by Bloomberg News expect the Fed to leave the overnight lending rate unchanged when they conclude their meeting at about 2:15 p.m. What is likely to change is the Fed policy makers' focus, with job destruction now an increasing risk to both the economic expansion and stable prices.
Fed's Dual Mandate
The current recovery has been characterized by disinflation, or a slowdown in price increases, rather than inflation. That means businesses aren't able to boost profits by raising prices, making them reluctant to hire.
More evidence of companies' lack of pricing power came today, when the Labor Department said consumer prices excluding food and energy rose 1.3 percent for the 12 months through August, the smallest year-over-year gain since 1966.
Unlike other major central banks, the Fed has responsibility for employment as well as inflation. The Federal Reserve Act says the bank should promote ``maximum employment, stable prices and moderate long-term interest rates.''
``No central bank can politically ignore what is happening to output and employment,'' said Allan Meltzer, a Carnegie Mellon University economist and Federal Reserve historian. The Fed's 5.5- percentage-point cut in interest rates since January 2001 ``has been aimed at trying to get the economy to grow faster and get the employment rate to come up,'' Meltzer said.
Jobless Recovery
Millions of Americans still can't find work, and thousands more get fired every month. The number of people applying for unemployment insurance rose to a two-month high last week. Since the latest recession began in March 2001, the economy has lost 2.8 million jobs, the Labor Department said. About 48 percent, or 1.3 million, of those have disappeared since the National Bureau of Economic Research said the recession ended in November 2001. The jobless rate is now 6.1 percent.
``This is the first recovery on record where we actually have fewer jobs 21 months out than when the expansion began,'' said Jared Bernstein, senior economist at the Economic Policy Institute, a Washington research group.
Employment typically lags an expansion. The economy lost jobs in six of the 12 months ending March 1992, a year of recovery after the U.S.'s last recession. Over the subsequent 12-month period, the economy only lost jobs in one month, according to the Labor Department's non-farm payroll survey.
`Fierce' Competition
Last Thursday morning in the Fayetteville waiting room, while a television news program recounted the latest Iraqi grenade attack, state worker Jimmy Saucier called out the names of first- time unemployment claims filers from a crowd of job seekers. The crowd included whites, blacks, former managers and former blue- collar workers. Some carried babies, some were pregnant and some came alone.
About 10 first-time jobless claims filers gathered in a neat, well-lit room. They were told how to fill out forms for benefits and how to look for a job.
``The competition is very, very fierce,'' Saucier told the group. A job posting for a single office manager position received 1,012 applicants, he said.
McQueen and Catherine Van Sickle, regional manager for the state's employment agency, said they're seeing a change in the employment structure now.
``In the past, a plant might have closed but the industry survived,'' Van Sickle said. ``When you see a plant close now, it is a dead industry.''
`Permanent Job Losses'
Erica Groshen, assistant vice president and research economist at the Federal Reserve Bank of New York, would agree. In a recent study, she concluded that the latest recession was marked by a ``predominance of permanent job losses over temporary layoffs and the relocation of jobs from one industry to another.'' Because workers may not have the skills to be immediately rehired in a different business, they may be without a job longer as they seek education and training.
John Silvia, chief economist at Wachovia Corp., one of the top 20 U.S. bond underwriters, said what's different during this expansion is also that U.S. companies no longer think about hiring and production in national terms.
The reason is that so many companies now produce in places such as Canada and Mexico because of the North American Free Trade Agreement and in China, where investors receive greater protection now that the country is a member of the rules-based World Trade Organization.
Central Issue
Investment by U.S. companies in Latin America and the Caribbean rose to $272.3 billion last year, up from $116.4 billion in 1994, when Nafta went into effect, according to the Bureau of Economic Analysis. U.S. direct investment in Canada rose to $152.5 billion from $74.2 billion in 1994. Investment in Asia rose to $269.9 billion from $108.5 billion in 1994.
``I can't think of any circumstances that are realistic when the Fed would (raise rates) when employment is declining,'' said Laurence Meyer, a former Federal Reserve governor and visiting scholar at the Center for Strategic and International Studies. Job losses ``will be one of the central issues intellectually that the board will focus on'' today, he said.
Scholars, and even some Fed officials, suggest the pursuit of low inflation is the best way for the Fed to achieve its full- employment mandate.
That isn't what Congress had in mind when it wrote the Full Employment and Balanced Growth Act of 1978, said James Galbraith, an economist who worked with the framers of that legislation, also known as the Humphrey-Hawkins Act.
`Historical Promise'
``The idea that you could break it into pieces and say that the Federal Reserve does price stability and somebody else does employment is fallacious,'' said Galbraith, now a professor at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.
``The historical promise of American capitalism is we would generate an environment where jobs would be plentiful and in turn for that private business would have a lot of freedom in terms of employment.''
Members of Congress pressed Federal Reserve Chairman Alan Greenspan on job losses during his July testimony.
``How are we going to maintain full employment when we continually lose jobs, so to speak, abroad?'' Greenspan said. ``We do know if we have a sufficiently flexible labor market and a capital goods market which is functioning appropriately, that jobs will be created. They will be high-tech, but we don't know exactly what they will be.''
Salvation Army
Unemployment in Cumberland County, where Fayetteville is located, stands at 6.5 percent, while the North Carolina rate is 6.6 percent.
``You get to be on a first-name basis with the Salvation Army and the Rescue Mission,'' said Van Sickle, sitting in McQueen's office, where hanging plants and a gurgling aquarium stave off some of the gloom.
The staff has even passed the hat among themselves to raise a few dollars for some hardship cases, she said.
After lunch, McQueen hears that a new wave of job seekers is in the office -- this time, people whose 39 weeks of unemployment benefits have run out. His interest perks up, like a surgeon in an emergency ward hearing about an extreme case.
In a room with motivational posters dotted with words such as ``achievement'' and ``success'' sit Charles Harvell, Hudson Witz and Yolanda Range. Harvell lost his job at a Black & Decker Corp. plant in January 2002 after 10 years. That same month Witz was laid off from a Monsanto Co. plant after 24 years.
`Not Economically Viable'
``They just told us we were not economically viable anymore,'' said Witz, a 52-year-old Vietnam War veteran. He said his unemployment benefits have stopped and he is living off savings. ``Won't be too long before the bank account is empty.''
Range, a mother of four, said she was fired from a management position at a local women's apparel store in June last year.
She moved her family into the three-bedroom home of her in- laws and put her goods into storage. She couldn't keep up with the storage payments so the company auctioned her furniture, and personal goods, including birth certificates and baby pictures.
``Every day above ground is a good day,'' Range says. ``It has been kind of hard.''
Last Updated: September 16, 2003 12:48 EDT
Sept. 16 (Bloomberg) -- Glenn McQueen says he's never seen an economic expansion quite like this one. The Federal Reserve says the U.S. economy is growing. The lines in McQueen's North Carolina Employment Security Commission office suggest otherwise.
McQueen's Fayetteville-based staff meets with 500 to 800 people a day in search of jobs, state and federal aid, food stamps or career counseling because their unemployment benefits have run out. On peak days, that's about twice as many as two years ago. Next month, he will fire eight members of his 38-person staff because of state budget cuts.
Some of them ``will take their place in line'' among the unemployed, he said. ``I keep reminding myself the economy is getting better.''
Economists expect the gross domestic product to grow at a 4.5 percent annual rate in the third quarter, according to a Bloomberg News survey. While growing demand is likely to improve corporate profits, Fed policy makers, who began meeting today at 9 a.m., Washington time, are unlikely to raise interest rates from a 45- year low of 1 percent until job growth improves.
Ninety-nine of 100 economists surveyed by Bloomberg News expect the Fed to leave the overnight lending rate unchanged when they conclude their meeting at about 2:15 p.m. What is likely to change is the Fed policy makers' focus, with job destruction now an increasing risk to both the economic expansion and stable prices.
Fed's Dual Mandate
The current recovery has been characterized by disinflation, or a slowdown in price increases, rather than inflation. That means businesses aren't able to boost profits by raising prices, making them reluctant to hire.
More evidence of companies' lack of pricing power came today, when the Labor Department said consumer prices excluding food and energy rose 1.3 percent for the 12 months through August, the smallest year-over-year gain since 1966.
Unlike other major central banks, the Fed has responsibility for employment as well as inflation. The Federal Reserve Act says the bank should promote ``maximum employment, stable prices and moderate long-term interest rates.''
``No central bank can politically ignore what is happening to output and employment,'' said Allan Meltzer, a Carnegie Mellon University economist and Federal Reserve historian. The Fed's 5.5- percentage-point cut in interest rates since January 2001 ``has been aimed at trying to get the economy to grow faster and get the employment rate to come up,'' Meltzer said.
Jobless Recovery
Millions of Americans still can't find work, and thousands more get fired every month. The number of people applying for unemployment insurance rose to a two-month high last week. Since the latest recession began in March 2001, the economy has lost 2.8 million jobs, the Labor Department said. About 48 percent, or 1.3 million, of those have disappeared since the National Bureau of Economic Research said the recession ended in November 2001. The jobless rate is now 6.1 percent.
``This is the first recovery on record where we actually have fewer jobs 21 months out than when the expansion began,'' said Jared Bernstein, senior economist at the Economic Policy Institute, a Washington research group.
Employment typically lags an expansion. The economy lost jobs in six of the 12 months ending March 1992, a year of recovery after the U.S.'s last recession. Over the subsequent 12-month period, the economy only lost jobs in one month, according to the Labor Department's non-farm payroll survey.
`Fierce' Competition
Last Thursday morning in the Fayetteville waiting room, while a television news program recounted the latest Iraqi grenade attack, state worker Jimmy Saucier called out the names of first- time unemployment claims filers from a crowd of job seekers. The crowd included whites, blacks, former managers and former blue- collar workers. Some carried babies, some were pregnant and some came alone.
About 10 first-time jobless claims filers gathered in a neat, well-lit room. They were told how to fill out forms for benefits and how to look for a job.
``The competition is very, very fierce,'' Saucier told the group. A job posting for a single office manager position received 1,012 applicants, he said.
McQueen and Catherine Van Sickle, regional manager for the state's employment agency, said they're seeing a change in the employment structure now.
``In the past, a plant might have closed but the industry survived,'' Van Sickle said. ``When you see a plant close now, it is a dead industry.''
`Permanent Job Losses'
Erica Groshen, assistant vice president and research economist at the Federal Reserve Bank of New York, would agree. In a recent study, she concluded that the latest recession was marked by a ``predominance of permanent job losses over temporary layoffs and the relocation of jobs from one industry to another.'' Because workers may not have the skills to be immediately rehired in a different business, they may be without a job longer as they seek education and training.
John Silvia, chief economist at Wachovia Corp., one of the top 20 U.S. bond underwriters, said what's different during this expansion is also that U.S. companies no longer think about hiring and production in national terms.
The reason is that so many companies now produce in places such as Canada and Mexico because of the North American Free Trade Agreement and in China, where investors receive greater protection now that the country is a member of the rules-based World Trade Organization.
Central Issue
Investment by U.S. companies in Latin America and the Caribbean rose to $272.3 billion last year, up from $116.4 billion in 1994, when Nafta went into effect, according to the Bureau of Economic Analysis. U.S. direct investment in Canada rose to $152.5 billion from $74.2 billion in 1994. Investment in Asia rose to $269.9 billion from $108.5 billion in 1994.
``I can't think of any circumstances that are realistic when the Fed would (raise rates) when employment is declining,'' said Laurence Meyer, a former Federal Reserve governor and visiting scholar at the Center for Strategic and International Studies. Job losses ``will be one of the central issues intellectually that the board will focus on'' today, he said.
Scholars, and even some Fed officials, suggest the pursuit of low inflation is the best way for the Fed to achieve its full- employment mandate.
That isn't what Congress had in mind when it wrote the Full Employment and Balanced Growth Act of 1978, said James Galbraith, an economist who worked with the framers of that legislation, also known as the Humphrey-Hawkins Act.
`Historical Promise'
``The idea that you could break it into pieces and say that the Federal Reserve does price stability and somebody else does employment is fallacious,'' said Galbraith, now a professor at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.
``The historical promise of American capitalism is we would generate an environment where jobs would be plentiful and in turn for that private business would have a lot of freedom in terms of employment.''
Members of Congress pressed Federal Reserve Chairman Alan Greenspan on job losses during his July testimony.
``How are we going to maintain full employment when we continually lose jobs, so to speak, abroad?'' Greenspan said. ``We do know if we have a sufficiently flexible labor market and a capital goods market which is functioning appropriately, that jobs will be created. They will be high-tech, but we don't know exactly what they will be.''
Salvation Army
Unemployment in Cumberland County, where Fayetteville is located, stands at 6.5 percent, while the North Carolina rate is 6.6 percent.
``You get to be on a first-name basis with the Salvation Army and the Rescue Mission,'' said Van Sickle, sitting in McQueen's office, where hanging plants and a gurgling aquarium stave off some of the gloom.
The staff has even passed the hat among themselves to raise a few dollars for some hardship cases, she said.
After lunch, McQueen hears that a new wave of job seekers is in the office -- this time, people whose 39 weeks of unemployment benefits have run out. His interest perks up, like a surgeon in an emergency ward hearing about an extreme case.
In a room with motivational posters dotted with words such as ``achievement'' and ``success'' sit Charles Harvell, Hudson Witz and Yolanda Range. Harvell lost his job at a Black & Decker Corp. plant in January 2002 after 10 years. That same month Witz was laid off from a Monsanto Co. plant after 24 years.
`Not Economically Viable'
``They just told us we were not economically viable anymore,'' said Witz, a 52-year-old Vietnam War veteran. He said his unemployment benefits have stopped and he is living off savings. ``Won't be too long before the bank account is empty.''
Range, a mother of four, said she was fired from a management position at a local women's apparel store in June last year.
She moved her family into the three-bedroom home of her in- laws and put her goods into storage. She couldn't keep up with the storage payments so the company auctioned her furniture, and personal goods, including birth certificates and baby pictures.
``Every day above ground is a good day,'' Range says. ``It has been kind of hard.''
Last Updated: September 16, 2003 12:48 EDT
patt
Forumer storico
°XeT° ha scritto:in esclusiva x gli amici di IO i nuovi grafici di IMI, addio TM
vado ad allenarmi ci si sente sul tardi o domani....rimango flat e continuo a fare il cojotes....ma tra tm quick trade e compagnia bella non ci sto capendo na mazza
sono gia' inquazzato nero...la TM era una figata!!
