Good morning, as mentioned in my previous post, like a chronicle of a foretold slowdown, we continue to see weakening in many economic fronts:
Today’s was the case of Nonfarm Payrolls, which completely stalled during August, registering no change from the previous period. Analyst had expected a modest increase of 68,000. The Unemployment Rate remained basically flat at 9.10% and in line with expectations.
President Obama’s speech next week unveiling a plan to generate jobs will be more important than ever. At the moment the two likely scenarios are:
1) He will present a bold, sweeping, liberal plan for jobs and growth
2) He will present a more modest plan that makes a bow to bipartisanship. Similar to what he has been doing recently in an effort to be reasonable with the Republicans.
Personally, I would present something I can negotiate with; it’s hard to negotiate when you start with a plan that has already given up too much to the right. We will see next week.
Have a good Labor Day weekend,
Rod
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