Well the big job's speech is going to be tonight and delivered by President Obama. Jobs, jobs, jobs! I wonder what he has to say about it? I think the US is about 10% unemployment and up to 15% real unemployment! Staggering figures. What's even more staggering is that it's been like this for well over two and a half years or thereabouts!
The US has tried stimulus. That fell short and many have said that it has failed. They have tried quantitative easing. That fell way short as well as banks hoarded money and buffered their balance sheets. They tried nationalisation. That didn't work out either as the government held on more debt from once private companies, car companies and banks, which raised the debt level and still created no new jobs or new innovation in the economy. The toolkit is just about empty at this stage.
Mitt Romney- current Republican candidate and former Governor of Massachusetts- said he has a job plan that has over 40 action steps. Rick Perry, Governor of Texas who is also a Republican candidate for President, said that he has created more jobs than Mitt Romney in Texas than Romney did in Mass.. Whatever!
We need jobs now in American. Small states like The Bahamas depend on that tourism investment. We also use jobs indicators to sense where the foreign direct investment money is flowing from in order to plan FDI projects.
If America can't do it, and apparently the EU is in another dream world, then we need some place else to deliver!
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