Well there goes the economy
 

Wall Street closed below 10,000 guess chicken little is alive and well.:rolleyes:

I think there is more to the Chicken Little effect than they would care to admit, but, I believe there are valid reasons for the lack of confidence today.

http://money.cnn.com/2010/02/04/mark...dex.htm?hpt=T1

Also, Janurary Jobs Report come out tomorrow and it sounds like there were a tad more losses than they had hoped for.

RC

Yeah, it's all over now.

"Brother can you spare a dime?"

I have a friend who works in the steel industy in Ohio. He's scheduled to return to work a week from Monday, after a sixteen month layoff. The reason? A rise in demand for "structural steel products". Might this have something to do with "infrastructure" investment from the "National Reinvestment Act"? Actually, it does. And over the next three weeks about 1,100 steelworkers in Warren, Ohio will be returning to work.

Now, granted, this is just a small thing, contrasted against the immensity of the problem, which is truly global in nature. But, I'll take it.

Or maybe we should have just let the economy collapse? And let Lassez Faire economics ruin more communities and let more of Americas industrial base fall fallow?

Naw, fuck that.

Regards,
Dave

I would like to think so but even in a sour economy things get built. A lot of the state and federal projects going on right now have had monies allocated for them 2-4 years ago. Same with private sector.

National Reinvestment Act? not sure, I guess it would be helpful to know what projects they are working on and if it applies. Is he a mill guy, bridge guy or building guy. If he's a mill guy, I would imagine that an exhausted surplus because of little production would force bringing people back regardless.

Congratulations to your friend though. I'm sure he could care less why, just happy that he is working again.

RC

He's a mill guy. He works at the same mill his father, uncle and grandfather did. It has changed hands several times over the decades, but is currently operated by Severstal, a Russian company.

Anyhow, I don't know all of the particulars, just what he told me. And he told me that it had something to do with "infrastructure projects".

Regards,
Dave

"In th' Mornin', in th' Evenin', Ain't We Got Fun ? Not much money, oh, but Honey, Ain't We Got Fun ?".....

Well the jobs report was bad but expected. Since most of the business owners are Republicans they will only be hiring temps until after the elections in hopes more voters will vote their way.

Well, whatever it is, I'm glad to hear he is back to work. Work'in beats not work'in any day.

RC

Actually, I just heard on the radio (if I heard it correctly) that the national unemployment rate had dropped slightly last month but I have to read for the details.

You don't honestly believe that do you. Rob :confused: I'm curious, when you say "most business owners are Republicans", are you meaning large businesses or just business in general?

RC

I used to sell temps help and I tells ya, Dems use temps too :p

If the porkulus bill saved or created 600,000 as claimed that's $750,000,000,000.00 divided by 600,000 = One Million Two Hundred Fifty Thousand a job.

In government-speak, a bargain.

Pete