Economy: Hillary stresses importance of US Exports in Shanghai

Update: Politico has a headline piece up on what they call the Gates-Clinton Axis:

(more…)

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May 23, 2010. Tags: , , , , , , , , , , , , , . Economy, Finance, Hillary Clinton, Obama Administration, Politics, Unemployment Statistics, Wall St. 1 comment.

Market Mover Thursday: Weekly Jobless Claims; IMF director says UE will continue to rise for next 10-11 months

wall_st_bear_smallHere it is: Week ended 11/7 weekly jobless claims 502,000

4 week moving average is 519,750 (they r xcited that it is the lowest 4 wk avg since 11/29/08 HA! Maroons! it is as low as the crisis and that is good? we should have that number HALVED already. NO GROWTH ON THE HORIZON)

Continuing claims fell to 5.631 million for week ending 10/31.

Have to LOL at Steve Liesman, he is saying most economists think once we get down to 400k, 460k that will mean we are creating jobs’ OMG they are clueless. Where are the jobs coming from Steve? What capital investor wants to roll the dice with this POTUS and Congress? In this oncoming tax/regulation tsunami in 2010?

Jimmy Pethokoukis says UE is going to 11-12% see his column here

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data release at 8:30am EST

Vodpod videos no longer available.

CNBC:

The economy is growing but the crisis is not over, as unemployment is likely to continue rising for the next 10 to 11 months in developed countries and in some of the developing ones, Dominique Strauss-Kahn, managing director of the IMF, told CNBC Thursday

“I think that recovery is coming back, …Even so, the crisis is not over,” he added.

..One of the big changes the crisis has brought is the fact that Americans have increased their savings rate but “the bad news is that then we have to find some other engine for growth,” Strauss-Kahn said.

Turning to emerging economies for a shift to a domestic-led growth model will help to compensate for the slower increase in consumption in the US, and this has already begun to happen, he said, noting China’s measures to stimulate its own economy during the meltdown…

And they are all SHOCKED the US Dollar has not collapsed, doesn’t sound like our friend does he?

Meanwhile, the dollar has resisted the crisis very well as most people in the world still believed it was the safest way to keep their money, so in the immediate future the greenback’s role will not decrease, Strauss-Kahn predicted.

“What I’m surprised is that the dollar has been very resilient during this crisis; most of economists could have expected, because the crisis originated in the US housing market, that the dollar would finally collapse. It didn’t happen,” he said…

November 12, 2009. Tags: , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

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