An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Thursday, July 2, 2009
From the president who promised to save jobs...
Today’s report showed factory payrolls fell by 136,000 after decreasing 156,000 the prior month. Economists forecast a drop of 150,000. The drop included a decline of 26,500 jobs in auto manufacturing and parts industries.
It is almost incomprehensible that this guy ran on a promise to save jobs, then he puts GM and Chrysler into bankruptcy. On the other hand, Wall Street firms (apart from banks) got hundreds of billions $!
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