Nothing To Do, Nowhere To Go 0
The regular Thursday roller coaster report.
Up again:
The report also showed the number of people on unemployment benefit rolls and those receiving extended payments dropped, a sign the jobless rate may fall in coming months. Companies have been cautious about ramping up hiring until they see further signs the recovery is self-sustaining, one reason why Federal Reserve policy makers yesterday pledged to complete their asset- purchase plan by June and keep borrowing costs near zero.
The portion I emphasized underscores the hollowness of claims that giving companies more profits leads to more hiring.
They are just stuffing more money in their mattresses.
