Entry 52138 (Berkeley CSUA MOTD)

Berkeley CSUA MOTD:Entry 52138

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2025/05/24 [General] UID:1000 Activity:popular

5/24

2008/12/1-6 [Politics/Domestic, Politics/Foreign] UID:52138 Activity:nil

12/1    http://tinyurl.com/5ldb9c (bloomberg.com)
        Head NBER fucker from Stanfurd said on 10/8 that economic data are
        "perplexing"
        \_ Well, it is pretty perplexing to have the economy growing while
           the unemployment rate is also increasing. I don't think it has
           ever happened before, but it is actually a pretty good sign for
           the long term prosperity of the country, since it means productivity
           must be jamming.

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tinyurl.com/5ldb9c -> www.bloomberg.com/apps/news?pid=newsarchive&sid=a5ZeMW_RmmZQRobert Hall, who leads the National Bureau of Economic Research's business cycle dating committee, said yesterday in a Bloomberg Radio interview. The US labor market is shrinking, with Labor Department figures showing last week that payrolls fell by 159,000 in September for the biggest reduction in five years. Still, the economy, fueled by exports, grew at an annual rate of 28 percent in the second quarter. We're struggling with some interesting questions about the difference between the indicators,'' Hall said. The decline would be visible in gross domestic product, payrolls, production, sales and incomes. Edward Lazear, chairman of the White House Council of Economic Advisers, said in a separate Bloomberg Radio interview. The Treasury is putting in place its plan to inject as much as $700 billion into the financial system through purchases of distressed assets or potential direct investments into companies. The labor market has softened and we believe that it will continue to soften until we see things pick up in the rest of the economy,'' Lazear said yesterday. That should happen pretty soon because the kinds of approaches that we're taking should translate into more growth'' and a revival in housing and stock prices, he said.