is a legendary batting average and depending on the quality of the softball league you play in, it can be a pretty good number as well. This week despite the Fed shifting $400 billion from short-term Treasuries into long-term Treasuries in an effort to boost lending and spur the economy, it wasn't enough to just meet expectations as U.S. stocks dipped almost 400 points. Investors have been racked by growing fears that the economy is headed for another recession and once the Fed made the announcement, the anticipation was gone, and people began to look at a deeper level what it means when the Fed doesn't have any monetary tools to make a big difference in the economy.
The Fed's latest stimulus plan is designed to push down long-term borrowing cost for U.S. consumers and businesses. However, it is very surprising that the Fed is also targeting the very long end of the Treasury curve since there is no direct economic benefit for doing so, and banks also get hurt as falling yields in long-dated Treasury's compress their profit margins, which will hinder job growth, having the opposite affect than what is needed to help revitalize the labor market,"
Simple Translation : Bad - fucking really bad
The recession has only slowed down a bit and is back. We need jobs. Not only is the stock market riding major waves of instability, the job market has been sinking further with each passing month. The U.S. Labor Department issued its weekly jobless claims data ahead of the opening bell. The number of unemployed filing for first time benefits in the latest week fell from the prior week but still came in at a higher-than-expected 423,000. The number of foreclosures and bankruptcy filings have hit all time highs in the last few years, and many people, like me, are focused on treading water as the government promises to help turn the economy around. President Obama’s American Job Act bill, which outlines ways to help boost the economy through the improvement of the job market.
encourages businesses to hire more employees and increase wages of current employees in exchange for certain tax credits. The bill is facing tough criticism from both political parties, the question being how the bill will be paid for? After a rough budget and debt debate just one month ago, both parties are worried about taking on new debt for the sake of attempting to boost the economy. However, President Obama insists, “Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans — including many who sit here tonight. And everything in this bill will be paid for. Everything.”
Getting this to pass will be harder than hitting 400, but something has to be done, b/c we can't take another 400 dip in the market and unemployment anymore. Let's Go Congress