Does anyone have a dollar stretcher I could borrow or could I pick from your money tree? Isn’t this something that most of us are wishing for right now. Unemployment rates are at an all time high and it seems that cutbacks and instability are have become a permanent part of our thinking.
I have often wondered how it would be to live in a country that gets hit by bombs on a regular bases or where there is fighting in the streets. What is the mindset of those that live there? How do they survive from day to day? I know this is an analogy that is dealing with life and death but I think most of us can apply it to our outlook of our job stability. It’s called conditioning.
Times have changed. Not too long ago the mindset of most Americans was that you would get a stable job and could stay with that company until you retire, if you wanted to. You would have a retirement and insurance waiting for you at the end of that duty. Not so today, there are very few companies left that would fit this model and so we have gradually had to shift our paradigm in a new direction. We now have become conditioned to know that we can’t rely on a job anymore. We have to think and plan now like someone that lives in a country like I mentioned above. We have to think outside of the box, plan more and make escape routes for when war breaks out or when we hear the bomb siren going off. We may even travel lighter now and not grow roots as deep because we may not be staying in one location. For most of us life has changed. It’s not doom and gloom it’s just life and we survive.
We lean more on each other. We lend a helping hand and we gain a stronger appreciation and love for fellow human beings.
Fed nearing completion of exit strategy, concerned over risks posed by new tools
11 Jul 2014 | 5:22 pm
By Howard Schneider JACKSON Wyoming (Reuters) - The Federal Reserve has nearly completed development of a new plan for returning to a more normal monetary policy, even as officials remain concerned some of their newest policy tools could pose unintended risks to the financial system, two Fed officials said on Friday. "We are making very good progress," on the mix of policies that will be used to manage interest rates in the future, Chicago Federal Reserve Bank President Charles Evans said on the sidelines of an economic conference here. More analysis still needs to be done, and Evans said in particular Fed officials worry their new reverse repo tool could exacerbate any future financial crisis. By in essence accepting short term loans from a broad set of financial institutions, there is concern that banks, money market funds and other large investors could use those repo loans as a massive safe haven in a crisis, pulling money out of circulation and making the crisis worse.
White House trims 2014 deficit projection to $583 billion
11 Jul 2014 | 4:54 pm
By Mark Felsenthal WASHINGTON (Reuters) - The White House lowered its U.S. federal deficit forecast for the 2014 fiscal year by $66 billion to $583 billion on Friday on the basis of gathering economic momentum as evidenced by gains in hiring. "The deficit has been cut by more than half as a share of the economy, representing the most rapid sustained deficit reduction since World War Two, and it continues to fall," acting White House budget director Brian Deese said in a statement. The White House projection shows that, even thought debt is on a declining path, it would reach 72 percent of GDP in 2024 instead of 69 percent as originally estimated, the Committee for a Responsible Federal Budget noted. The White House said it revised its forecast in the so-called mid-session review because the national unemployment rate has come down more rapidly than expected.
US stocks edge higher ahead of busy earnings week
11 Jul 2014 | 4:16 pm
Wall St. edges up; indexes post losses for week
11 Jul 2014 | 3:54 pm
By Caroline Valetkevitch NEW YORK (Reuters) - Stocks managed to score modest gains on Friday, but the S&P 500 posted its biggest weekly drop since April as investors showed only mild enthusiasm after getting their first glimpses of earnings. Shares of Wells Fargo & Co., which fell 0.6 percent to $51.49, were in the spotlight as the biggest U.S. mortgage lender was the first major U.S. bank to report earnings. Wells Fargo's results will be followed next week by earnings from Citigroup, Goldman Sachs, JPMorgan Chase and Bank of America. We need to hear from companies to give credence to whether or not the economy is gaining momentum versus losing traction," said Quincy Krosby, market strategist at Prudential Financial, based in Newark, New Jersey.
TSX ends flat after jobs report but gold miners surge
11 Jul 2014 | 3:50 pm
By John Tilak TORONTO (Reuters) - Canada's main stock index was little changed on Friday as a rally in shares of gold miners helped overcome worries about the health of the labor market spurred by a sluggish jobs report. Government data showed that the Canadian economy unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from 7.0 percent in May, underlining how employment growth has stalled despite a recovery in the United States. The Toronto stock market appeared to be consolidating after concerns over whether Canadian and U.S. corporations will be able to meet earnings expectations had weighed on investor sentiment in recent days. “There is nothing fundamental that has changed here, at least not yet,” said Marcus Xu, portfolio manager at MY Capital Management Corp in Vancouver.
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