It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
For the first time in the past two years, the survey found that job creation increased. Twenty-two percent of businesses said that they were adding jobs, up from just 13 percent who said the same in the January survey. Thirty-seven percent of respondents said that they expected their firms to increase payrolls over the next six months.
At the same time, businesses are also cutting less jobs. Just 13 percent of respondents said that their firms were cutting payrolls, down from the 28 percent that were cutting jobs in January.
But very few of those surveyed believe that the federal government’s actions have much to do with job creation. The survey found that 73 percent of those surveyed said that the $787 billion stimulus package has had no effect on employment at their firms to date. The administration has touted the stimulus package as an engine of job creation. According to the administration, the stimulus package is set to create or save 3.5 million jobs by the end of the year.
Nearly as many respondents - 68 percent - believe that the recently passed $15 billion jobs bill will have little to no impact on employment. Thirty percent of respondents said that the jobs bill allowed their firms to boost hiring at least moderately.
“Little of the improvement to date in job growth can be attributed to the stimulus bill enacted in February 2009. Capital spending remained steady.
Tom McClellan of MCOscillator writes about a fund group whose in- and outflows are easy to track, Rydex. Unlike most mutual funds, this firm lets its investors trade day to day and tracks their moves. Tom notes that the Rydex Money Market Fund is below $1 bn in assets for the first time since Feb. 2001, and that its 1.5x leveraged Nova Fund is at its highest level since before Lehman Brothers went down the tubes in Sept. 2008.
According to the Federal Reserve’s most recent report on wealth, America’s private net worth was $53.4 trillion as of September, 2009. But at the same time, America’s debt and unfunded liabilities totaled at least $120,000,000,000,000.00 ($120 trillion), or 225% of the citizens’ net worth. Even if the government expropriated every dollar of private wealth in the nation, it would still have a deficit of $66,600,000,000,000.00 ($66.6 trillion), equal to $214,286.00 for every man, woman and child in America and roughly 500% of GDP. If the government does not directly seize the nation’s private wealth, then it will require $389,610 from each and every citizen to balance the country’s books. State, county and municipal debts and deficits are additional, already elephantine in many states (e.g., California, Illinois, New Jersey and New York) and growing at an alarming rate nationwide. In addition to the federal government, dozens of states are already bankrupt and sinking deeper into the morass every day.