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Re: n4807g post# 14

Friday, 10/03/2003 6:53:25 AM

Friday, October 03, 2003 6:53:25 AM

Post# of 117078
I'm stymied...how about you smile)

WASHINGTON (Reuters) - Despite faster growth, a lack of jobs shows the U.S. economy still needs nursing to get back to full health, top Federal Reserve officials said on Thursday.
"I have to admit that until we actually book a couple of quarters of solid output growth and see the beginning of an employment rebound, there will be some doubts in my mind whether we are, at last, out of the woods," Chicago Fed President Michael Moskow said in an otherwise upbeat speech in Evanston, Illinois.

Hmmm...massive Federal spending in the 2nd quarter accounted for 1/2 of GDP. Revenue growth in many industries is flat. Pricing power for many companies is nonexistenet. WS still demands profits...so why are jobs still being lost. Why not ask Moe, Larry, and Curly. Their answers would make just as much sense; perhaps more. Aren't these the same guys who said by now we'd all have jobs and be rolling in clover? Some things never change.

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