Jan Hatzius: Unemployment at 8% by End of 2009
By Barry Ritholtz - November 7th, 2008, 1:00PM
http://www.bloomberg.com/avp/avp.htm?N=av&T=Hatzius%20Sees%20U.S.%20Unemployment%20at%208%25%20by%20End%20of%202009&clipSRC=mms://media2.bloomberg.com/cache/vLCZrFmdIIFo.asf
Jan Hatzius, chief U.S. economist at Goldman Sachs & Co., talks with Bloomberg’s Carol Massar and Julie Hyman about the outlook for the October employment report and the need for another government-sponsored stimulus package. (Source: Bloomberg)
00:00 Hatzius previews the jobs report
01:54 Fed rate cuts; need for stimulus package
Running time 04:59
Source:
Hatzius Sees U.S. Unemployment at 8% by End of 2009: Video
Bloomberg, November 7, 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aCpqvzSdgZ.8
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November 7th, 2008 at 1:55 pm
Fiscal stimulus is a given at this point. But I wonder why would the Dems do it in the lame duck session and thus give W credit for doing it on his watch?
From the Democratic perspective wouldn’t it make a lot more sense to wait until after inauguration so they and Obama can clearly take full credit for it? I think if I were Obama, that is what I would push for. But that would hurt the economy by delaying the beneficial effects; so will he / they be as scheming as me, or will they be altruistic in this crisis?
November 7th, 2008 at 3:13 pm
KJ, unless you want to see that 8% unemployment turn into 10 or 12%, there is no time to lose. The positive feedback process, vicious cycle that relates jobs housing and banks is in full flow and needs to be slowed down.
November 7th, 2008 at 7:55 pm
KJ,
the ‘transition’ has, for all intents and purposes, already occured. BHO, and many other (D)s, is/are, already, as of today, at the latest, on the record for more ‘stimulus’..
nobody, in 2010, will be taken seriously if they produce a ‘Stimulus Bill’ timestamped pre-01/20/009 and say that it was GWB’s doing..
past that, though, you have a funny definition of ‘altruistic’..