From cnbc.com, last Friday, Kudlow caucus discussed the job report.
"The latest overall job loss numbers showed a loss of 49,000 jobs in May and a jump in unemployment rate up to 5.5%. The drop is still well below the six figure numbers seen in past recessions."
The panel was posed the question: Does today's jobs report spell recession? First, it was interesting that the panel was evenly divided.
My favorite reply was by Jerry Bowyer, Chief Economist, Benchmark Financial Network. He said NO. His explanation was priceless:
No bloomin' way.
A couple of hundred thousand college kids can't get summer jobs because the economic flat-earthers in congress just hiked the minimum wage and priced the kids (110% of whom plan to vote for Obama) out of the job market.
Fraternity pizza-budget impact: substantial.
GDP impact: minimal.
Seeing markets react to stupid congress just the way we said they would: priceless.
"The latest overall job loss numbers showed a loss of 49,000 jobs in May and a jump in unemployment rate up to 5.5%. The drop is still well below the six figure numbers seen in past recessions."
The panel was posed the question: Does today's jobs report spell recession? First, it was interesting that the panel was evenly divided.
My favorite reply was by Jerry Bowyer, Chief Economist, Benchmark Financial Network. He said NO. His explanation was priceless:
No bloomin' way.
A couple of hundred thousand college kids can't get summer jobs because the economic flat-earthers in congress just hiked the minimum wage and priced the kids (110% of whom plan to vote for Obama) out of the job market.
Fraternity pizza-budget impact: substantial.
GDP impact: minimal.
Seeing markets react to stupid congress just the way we said they would: priceless.
No comments:
Post a Comment