Quote:
Originally posted by Sparhawk
The economy is growing at a rapid enough pace that Greenspan was threatening the other day to raise interest rates to stop inflation.
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Umm, no.
Greenspan never threatened to raise interest rates. The man never threatens anything.
In the last meeting of the federal reserved, he merely changed the tone of his language concerning the overnight rate and it sent shivers through the stock market.
He never actually threatened anything, he changed tone.
And as far as it goes, today's employment numbers were a huge let down. Only 21,000 jobs added, and the street was expecting 125,000.
Furthermore, another 396,000 americans "left the work force" which means they have been unemployed so long that their benefits have run out and they are no longer counted in that figure of 5.6% unemployed.
The true number of unemployed people is far higher.