She stated the reason the unemployment rate improved in February was because all the people she talks to, without disclosing who the morons are, states the House Republicans are saints because they are upholding "The Sequester." Hence, that is the reason there is MORE CONFIDENCE in the private sector.
There are people that actually believe that? Because I profoundly believe that sort of MISINFORMATION is what lends politics to the House Floor rather than fact and legislation the country needs. It allows Republicans 'an excuse' with their electorate to cover up the truth and rely on rhetoric for votes. Seriously. There is no basis to fact in that assessment. If there is she needs to put the facts and assessment forward. She can't because that is not the case.
One of the reasons President Obama's investments in the USA is working is because the Fed has backed him up. That is a fact and it is indisputable. Fact. It took Bernanke a few trial runs of Quantitative Easing to realize he was screwing up, but, finally he did something that would support the USA President rather than the Chairman in China.
This last set of money releases stated it had to provide benefit to the employment rate of the USA. He qualified the monies. There is still a lot of money being pumped out by the Fed, but, that is to facilitate the void of investment monies while the other monies released earlier in QE 1 and QE2 remained in play. The void is being filled in finally. The private sector was more than willing to have cash flow while they rebuilt their client base in the USA.
That is what the USA employment rate proves. Not to say the investments made by the President into the USA economy through actual needs of the country hasn't done it's work. It has. It definitely has. But, at that same time the Fed focused the private sector. So, it helped. It relieved the federal government of it's drive to employ by filling in the huge void left in investment by the previous administration, namely Bush/Cheney. Tax cuts during two wars was not healthy for the USA, it caused harm to the Middle and Lower income citizens while degrading our infrastructure. The tax cuts were substantial to benefit political cronies and personal wealth while the Republican Congress spend stupid amounts of money such as monuments and not bridges, on amusement parks and not schools.
But, the reason the unemployment is improving is because the VOIDS are being filled in. On the government side, it is why the "Infrastructure Bank" which President Obama proposed in his American Jobs Act was and continues to be very important. The Infrastructure Bank was a public/private venture to provide a place for states to find funding for vital projects. But, who cares about that, right?
I would imagine, even though the unemployment rate is still above 6% that Mr. Bernanke is starting to look at interest rates again. Since he has instituted the QE3 program there has been consistent improvement in the unemployment rate. He is looking at that trend and estimating at what point will the lending be too much. He may already know where the unemployment rate is going to be 6%. If he doesn't know exactly when, then he is guesstimating where that might happen. He has to put on the brakes before the monies go to far.
So, for me? I am estimating the same thing and looking at investments I might decide to move in the future. It is all good news. Quite frankly, President Obama did remarkably well when on considers he has been able to rebuild the USA economy without much help after 2010. He did and is doing great. He, like Mr. Bernanke, is reluctant to end his enthusiasm to soon. The economy and employment is still very fluid. Hopeful, but, fluid. So, they are both correct. Obama / Bernanke still have both oars in the water and rowing hard.
The President may have appeared to have overshot with his last tour of the country regarding the economy, but, he didn't. Not at all. He definitely did a favor to the Virginia legislature when he pointed out what was occurring in that state. Virginia needs to diversify more in it's economy. I don't know about social diversity, that can sometimes improve economies too, by the way. But, Virginia relies a lot on free military money. There has to be a balance and there has to be leadership that knows it is important to be more than just an arm of the federal treasury.
I congratulate President Obama for being as dedicated to making an impression on the people in regard to the economy. It ain't over yet.
