Bad News, Good News
Sept. 2, 2011 Jobs Report:
In reponse to the zero job growth, White House economic advisor Gene Sperling said, “This president doesn’t think this is anywhere near enough”. A survey of economists agreed – they had expected more than 70,000 new jobs.
So what was your first clue, Mr. President??
His Labor Secretary, Hilda Solis told CNBC “There are things that we know work that are waiting for action by the Congress,” [but] “I do believe that we’re going in the right direction, but we need cooperation and it begins with members of the House and the Senate agreeing to do something now,” she added.
Headed in the right direction??! I guess they are blaming congress now. Haven’t they been telling us that we’re in a recovery for at least the past 7 months…???
As he zips off to Camp David for yet another vacation, the markets reacted to the news with the DOW down -250 and S&P down -30.
Just another reason to protect your retirement assets with strong guarantees, NOT backed by the “full faith and credit of the government”. If you are not inclined to learn how to be a professional trader, the prospects for growing your retirement accounts using the traditional stocks, bonds, and mutual funds are dismal. Many of my clients are escaping this market volatility by holding a good portion of their assets in a guaranteed, sound plan design. Lets me sleep well, too!
Meanwhile, those who know my affinity for natural, healthy, but tasty eating will like my good news piece ~ The Truth About Bacon. Totally unrelated to anything financial, but we need to enjoy life’s little pleasures in spite of our economic woes! Read and enjoy…