This is the jumpropes that you need to give the economy a kicker. But still, there is no snowplough And there is still that windscreen covered in snow, you broke the snow-brush too. But seriously, it need not all be that bad..$200 billion accounted for as saved from the TARP funds means a lot, a humongous amount. And this does not include the GM stock you will be able to sell soon. Some Citi stock as well..The other Sovereign funds made a lot of money. The US administration will too. Another $110 billion is said to be ok to be released for jobs in infrastructure reconstruction for which someone has found enough funds available. It just might add up..
People who found Friday’s report useful may not be driving with their head clearly. This is unlikely to bring in benefits before end 2011. What the heck! everyone takes a little time in passing funds from A to B and this one is the entire economy. A lot of retailers had a bad Thanksgiving despite every thing we said..on the other hand, Nordstrom did better..Amazon did great too But we”ll keep posting the data as it happens. I guess this will go the way healthcare did and people would be more jumpy than working to make it happen. Ouch! that hurts. O in the Oval Office not the one that retired in 2011, that O he still has negative approval ratings, Rasmussen reports didn’t swing too hard.
President Obama is expected to announce Tuesday that he wants Congress to redirect a certain portion of leftover Wall Street bailout funds toward job creation measures, White House officials told CNN.
That would come on the heels of news Monday that the White House was reducing the expected loss from the bailout by $200 billion. Potential job-creation ideas include building roads and bridges, “weatherizing” homes to reduce energy bills and lending to small businesses.
In related news, Japan’s PM Hatoyama and his Democrats may run out of ‘charisma‘, and the ‘chamatkar’ [wonder, magic, sorcery, origin hindi] required to come back to power as it tries a stimulus refill in a long despaired Japan..
Japan’s government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Economists said the 7.2 trillion yen plan, equal to about 1.5 percent of gross domestic product, would not provide a significant lift to an economy dependent on overseas demand for machinery, electronics and cars.
While several other economies are already debating phasing out economic stimulus deployed to fight the financial crisis, Japan continues to struggle amid chronically weak consumer demand and falling prices.