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Obama has done wad he can do already...he's definitely not resting...i think he is one of the more tired person ard with so many issues to solve and daily schedules packed back-to-back
The financial world is in a bad shape but there are several other issues to deal with to...tt's why Michale Jackson has the song "Heal The World"
dealer0168 ( Date: 09-Jul-2009 00:08) Posted:
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Emm, ya ...quite agreed. Anyway, recovery will still be there but is a very slow one...............
iPunter ( Date: 09-Jul-2009 00:12) Posted:
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He's done his best already...
But there's a limit to what can be humanly done... against the laws of nature (the financial markets)...
Haha, maybe its time Obama to come out to do something......
He has been resting for awhile.........
iPunter ( Date: 09-Jul-2009 00:07) Posted:
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The market is jinxed by talk of second stim package...
and also the spectre of Jiangxi and Urumqi weighs on it too...
my boss long zinc... short gold.... hehe...
gold gone case.... BAC come case.... DOW up case....
my boss said one hor....
US may need a second stimulus, says Obama adviser
Posted: 08 July 2009 0031 hrs
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 Laura Tyson (file pic) |
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SINGAPORE: The United States may need a second stimulus package focusing on infrastructure projects to put the world's biggest economy firmly on the path to recovery, a top White House adviser said on Tuesday.
Laura Tyson, a member of US President Barack Obama's Economic Advisory Panel, said the first stimulus package included "a significant amount of investment in long-term growth."
She also said the country's budget deficit - already at its widest since World War II - will likely be bigger than expected this year and could surpass an earlier projection of around 12 percent of gross domestic product.
Her comments come after Obama last month said US unemployment would likely climb above 10 percent but that a new injection of government money was "not yet" needed.
However, she said her remarks represent her own views and not the administration's official position.
Tyson, speaking at the Nomura Asia Equity Forum in Singapore, said it was too early to quantify the size of a second package, adding that "we'll have a much better idea towards the end of the year."
The current stimulus package of 787 billion dollars should create or sustain 3.5 million jobs as planned, she said.
But a second deal, with an emphasis on building projects, may be needed to put the US economy on the right track, she added.
However, its effect on unemployment will be less than previously expected because the crisis has had a greater impact on job losses than anticipated, she told the forum.
Signs of recovery for the recession-hit US economy are more likely to be evident in the third and fourth quarter, as opposed to second quarter, she added.
"The question is whether the US economy has reached a level of stabilisation yet, but the recent unemployment numbers tell me it hasn't," Tyson said.
"The rate of decline has slowed, and there is an uptick in some indicators, but that's a very different argument than a recovery.
"Businesses are likely to rehire employees at a slower pace than in the previous two recessions, so unemployment is going to be a lagging indicator
TODAY IS NOT AN GOOD DAY FOR EVERYONE HERE.
