Treasury's Snow predicts jobs with revived growth

[UpInArms]

http://www.forbes.com/markets/newswire/2004/02/17/rtr1263690.html

SPOKANE, Wash., Feb 17 (Reuters) - U.S. Treasury Secretary John Snow said on Tuesday that the U.S. economy was on a path toward rapid recovery that should soon produce more jobs, and repeated his backing for a strong U.S. dollar.

Interviewed by Bloomberg Television at the beginning of a two-day tour of northwestern states Washington and Oregon, Snow said the economy had endured a series of exceptional shocks in recent years, ranging from corporate scandals to the impact of terror attacks.

"The economy has really been through the wringer and we're finally starting to come out of it with good growth," Snow said. "With good growth, we're going to get jobs."

In response to questions, Snow repeated his backing for a strong U.S. dollar, despite the fact that the dollar has declined sharply against other major currencies.

...more...

quack quack

[still_one]

1. He also blamed Clinton for all the problems

The labor secretary and Evans were also on. It was the biggest "snow" job I have seen

[rock]

2. Finally some positive signs from out administration

(Yeah, sarcasm. Hasn't this been the same prediction for 3 years running?)

[kysrsoze]

10. Hey, another 3.65 million jobs in the next 10 months

no problem

[WannaJumpMyScooter]

3. Delusional. cough, cough... ahhhhchoooo pyschotic chooooo

harumph.

[ProfessorGAC]

4. What A Dolt!

The "economy has been through the wringer. . ." Idiot! You guys put it through the wringer. Don't blame the economy for your mistakes. Blame your mistakes for the economy!

This guy knows less about economics than my dog!
The Professor

[Grins]

6. Idiot, or ANOTHER Dud?

From Paul Erdman's column at CBS MarketWatch.com:

"I don't know how George W. goes about picking his secretaries of the Treasury, but I do know that he has come up with two duds in a row. The new one, John Snow, is even worse the first one, whose name I have already forgotten.

"...telling us he will be "frustrated and concerned if long-term interest rates do not rise."....Did anybody tell him that if he gets his wish, the additional interest cost on new government borrowings could be staggering?...that mortgage rates would soon rise to a level sufficient to undermine the strength of housing sector, which has been the strongest pillar holding up the economy during the past couple of years?... that vehicle sales would go the way of housing sales if the cost of financing a car goes from zero back up to 10 percent-plus?"

Think Paul's a bit upset with little Johnnie?

It's a subscription, but it's free:
<http://www.marketwatch.com/news/story.asp?guid=%7B53C9C182%2DFC6C%2D4198%2D9E24%2D162651E72989%7D&siteid=mktw>

[The_Casual_Observer]

5. Mantra: Shocks, impacts, growth

Well, "good growth" hasn't lead to jobs so far, so what is going to change?

These guys are living in the past when US factories would "tool-up"
at the end of a recession and supply goods to a pent up demand.
However, now the factories are for the most part out of this country,
AND there is no increased demand, since the recession didn't really end. This "rebound" is simply a run up in the stock market fueled by speculation, artificially low interest rates and deficit spending.

[Bush_Eats_Beef]

7. And how many more weeks of winter will we have...

...if Snow sees his shadow when he pulls his head out of his hole?

[hatrack]

8. "Treasury's Snow Predicts Lucky Numbers At Vegas Roulette Table"

I mean, he seems to be pulling this stuff right out of his ass, just as someone who's "feeling lucky" would while gambling away Junior's college fund.

[area51]

9. In what alternate universe

will we have job growth here in the states?

[Zero Gravitas]

11. I can think of some jobs that will be lost in the next year

Those of the "President" of the United States, the Vice President, Secretary of Defense, Assistant SecD, Snow's job (geddit? Snow Job har har) etc. etc.

[Hekate]

12. Job surge after November election: hang on!

Sure: annual hiring of sales clerks and shelf-stockers--layoffs in January.

[tom_paine]

13. In related news, Himmler expects "Final Solution" to finish smoothly

:evilgrin:

Sorry, I just couldn't resist!