Growth Without Jobs
Stocks went sideways today, but interest rate continued to creep up.
The Dollar gained a little, and gold fell a little, and oil/gasoline went up, and are starting to look expensive.
In the news today…..
Citibank – has told its customers that it may refuse to allow you to remove funds for 7 days whenever in the future it feels like it. I have warned previously about having your funds in this bank, and I am renewing my warning here. You don’t need this type of hassle. Think about this for a second Strong banks wouldn’t have to warn you about this type of action.
Gasoline – will be over $3.00/gallon this summer. We’ve probably seen the low for this winter, and the price is already starting its upward trend as we move closer to summer – even if there is snow on the ground around you. Remember that this is real inflation when it happens. As an aside, China is now buying more crude oil from Saudi Arabia than the US.
New Credit Cards Rules – kick in today. The companies are looking for ways to make up their lost revenue. If you pay all your balance, you will pay more. The card annual fees will be going up.
Tonight’s Dinner Conversation…..
The economy is growing. Hurray… But, where are the jobs? Jobs is the big problem in the economy. The economy can grow, but if jobs don’t start being created, then any recovery is not sustainable.
And, one more point about jobs – we are still losing jobs, NOT creating jobs yet. So, what’s really happening??
The Jobs Bill with its tax incentives just isn’t well thought out from the perspective of a business owner. What a joke.
How about this?? 20% of males between 20 and 55 years old – don’t have a job right now. What will be the fallout to our society due to this problem?
The solution to the jobs is multiple, multiple years.
Here are the last numbers for today:
Dow Jones 30 Industrial – 10,383 (down 18)
10 Year Treasury Bond – 3.80% (up 0.02%)
Euro – $1.3599
Gold – $1118 (down $8)
Oil – $80.03 (up $0.22)
Gasoline – $2.12 (up $0.03)