These guys were supposed to be the finance and economics studs in the administration, but have been practically invisible of late.
What’s up?
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The Homa Files 
July 18, 2009 at 12:11 pm |
Summers reemerges yesterday:
“Two-year stimulus plan of tax cuts and new spending was timed to peak during 2010” Larry, smart move on the part of the Obama administration to maximize the likelyhood of being reelected in 2012.
“[Summer] said no one knew for sure why employers had shed so many workers in this downturn. But he suggested several factors: greater productivity that allowed firms to do the same work with fewer workers, bigger financial pressures on companies, and employers’ expectations of a prolonged recession.”
Larry, you seem so surprised that businesses react so rationally and switftly to protect shareholder interests.
My take: the eceonomy is recalibrating to a new level based on the availability of credit, access to capital markets, the cost of labor, the level of consumer spending and the price of commodities particularly oil.