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-- Jobs figure just in time for the 2nd debate

Jobs figure just in time for the 2nd debate

The problem with Bush is not Kerry. The problem with Bush is reality. Iraq was his reality check in the 1st debate. This following story, combined with a fiscally irresponsible behavior of the Conservatives will be his second reality check:

quote:

Job-cut plans soar to 8-month high New hiring up slightlyin September � report Reuters Updated: 11:44 a.m. ET Oct. 5, 2004 NEW YORK - U.S. planned job cuts soared to an eight-month high in September while new hiring rose only slightly, a report said on Tuesday. Employment consulting firm Challenger, Gray & Christmas Inc. said employers announced 107,863 layoffs in September, 41 percent more than in September 2003 and 45 percent more than in August of this year, when 74,150 were laid off. The September figure was the largest since January 2004, when employers laid off 117,556 workers. The September figure brings third-quarter job cuts to 251,585, 19.9 percent more than the 209,895 registered in the previous quarter and 4 percent more than the 241,548 for the third quarter of 2003. Job losses in September were particularly heavy in the computer, transportation, telecommunications and consumer products industries, the report said. Adding to the glum jobs picture was the slow pace of new hiring in September. The report said employer hiring announcements revealed only 16,166 new job openings in that month compared with 132,105 in August. �Historically, the period from September 1 through December 31 is when we see the heaviest downsizing and this year appears to be on track to repeat that trend,� said John Challenger, chief executive officer of the firm. �This period can also be a time for hiring since companies are looking ahead to the new year and making budget and staffing decisions. Weak hiring announcements last month are not a good indication of stronger job creation to come,� he said. One Friday, the government will report on the U.S. employment situation in September. It will be the last official report before the presidential elections. Economists polled by Reuters forecast a 148,000 rise in non-farm payrolls for September compared with a 144,000 rise in August. A new report says the number of announced job cuts rose sharply in September to nearly 108-thousand, an eight-month high. The outplacement firm Challenger, Gray and Christmas says that's a 41 percent increase from a year earlier. The level of job cut announcements was also 45 percent above the pervious month. Challenger says more than 724-thousand job cuts have been announced so far this year. At the same time, employers revealed only 16-thousand new job openings, according to the Challenger report. This Friday, the Labor Department is scheduled to report on the September employment situation. Copyright 2004 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. URL: http://www.msnbc.msn.com/id/6183320/

Reality bites.

So Kerry will have the advantage again in the debate? That sucks. But then again, Bush had 4 years to prepare. Really looking forward to this second debate.

quote:

Originally posted by ierxium So Kerry will have the advantage again in the debate? That sucks. But then again, Bush had 4 years to prepare. Really looking forward to this second debate.

Personally, yes I think Kerry has the advantage. Facts tend to help one with advantages. But the debates are not so much based on facts, but on the perceptions AND spinmeisters afterwards.

But here's some more facts that Kerry could take with him. Specifically, this topic is one of Bush's favorite - his tax cuts and small businesses:

quote:

On a campaign trip to Michigan on Dec. 1, 2003, President Bush echoed one of his familiar claims, saying "I want to remind people about is that the tax relief was geared toward small businesses...When you hear us talking about reducing all taxes on individuals, you really hear also the message that we're reducing taxes on small businesses."(1) This statement is the most recent in a long line of similar assertions - an unscientific Lexis-Nexis search shows, that in just the three years since Bush became President, he and Vice President Cheney have given at least 150 separate speeches claiming that their tax proposals are specifically geared to helping small business. But simple statistics show just how misleading these statements are. In talking about his 2001 tax cut, the President specifically promised that there would be "more than 17.4 million small business owners and entrepreneurs who stand to benefit from dropping the top rate from 39.6% to 33%" - the major piece of his proposal.(2) But according to nonpartisan analyses of IRS and Treasury Department data, just 3.7% of small business owners are subject to these top tax rates - meaning the rest receive almost nothing from the major piece of his plan.(3) In other words, for every small business owner that benefits, there are 15 small business owners that do not. All told, small business owners "would be far more likely to receive no tax reduction whatsoever from the Administration's tax package than to benefit" in any way. Similarly, in pushing for his second tax cut in 2003, the President said that "small businesses stand to gain a great deal"(4) from his most recent tax cut proposals, because he said it would "give 23 million small business owners an average tax cut of $2,042." In fact, "nearly four out of every five tax filers (79%) with small business income would receive less than this amount," according to the nonpartisan Urban Institute-Brookings Institution Tax Policy Center.(5) Additionally, "52% of people with small business returns would get $500 or less." The President produced the $2,042 average figure by deceptively averaging the large tax cuts that would go to a small number of wealthy individuals who have some small business income with the miniscule (if any) tax cuts that would go to millions of more typical small business people. Sources: 1. President Discusses Economy in Michigan, 12/01/2003. http://www.whitehouse.gov/news/rele...20031201-6.html 2. Remarks by the President During Meeting with Small Business Owners, 03/16/2001. http://www.whitehouse.gov/news/rele...20010316-3.html 3. Reducing the Top Tax Rates: How Much Benefit to Small Business?, Center on Budget and Policy Priorities, 05/03/2001. http://www.cbpp.org/5-3-01tax2.htm 4. President Discusses Jobs & Growth Plan in Radio Address, 01/18/2003. http://www.whitehouse.gov/news/rele...1/20030118.html 5. President's Radio Address and Other Administration Statements Exaggerate Tax Plan's Impact on Small Businesses, Center on Budget and Policy Priorities, 01/21/2003. http://www.cbpp.org/1-18-03tax.htm Source: http://www.misleader.org/daily_misl...df12022003.html

To my understanding, the Foreign Policy debate was Bush's strongest debate ( in terms, it was Bush's favorite ).. and he failed, the following debates are into Kerry's advantage. Heh, reality check lol.

Yikes, this was quite the little letter by the business professor snoots. Hey Occ, see anyone you know in this list?:

quote:

October 06, 2004 BUSINESS SCHOOL PROFESSORS TO BUSH: YOUR POLICIES STINK Yep. You read that right. Here's the text, followed by the signatories: Open Letter to President George W. Bush October 4, 2004 Dear Mr. President: As professors of economics and business, we are concerned that U.S. economic policy has taken a dangerous turn under your stewardship. Nearly every major economic indicator has deteriorated since you took office in January 2001. Real GDP growth during your term is the lowest of any presidential term in recent memory. Total non-farm employment has contracted and the unemployment rate has increased. Bankruptcies are up sharply, as is our dependence on foreign capital to finance an exploding current account deficit. All three major stock indexes are lower now than at the time of your inauguration. The percentage of Americans in poverty has increased, real median income has declined, and income inequality has grown. The data make clear that your policy of slashing taxes � primarily for those at the upper reaches of the income distribution � has not worked. The fiscal reversal that has taken place under your leadership is so extreme that it would have been unimaginable just a few years ago. The federal budget surplus of over $200 billion that we enjoyed in the year 2000 has disappeared, and we are now facing a massive annual deficit of over $400 billion. In fact, if transfers from the Social Security trust fund are excluded, the federal deficit is even worse � well in excess of a half a trillion dollars this year alone. Although some members of your administration have suggested that the mountain of new debt accumulated on your watch is mainly the consequence of 9-11 and the war on terror, budget experts know that this is simply false. Your economic policies have played a significant role in driving this fiscal collapse. And the economic proposals you have suggested for a potential second term � from diverting Social Security contributions into private accounts to making the recent tax cuts permanent � only promise to exacerbate the crisis by further narrowing the federal revenue base. These sorts of deficits crowd out private investment and are politically addictive. They also place a heavy burden on monetary policy � and create additional pressure for higher interest rates � by stoking inflationary expectations. If your economic advisers are telling you that these deficits can be defeated through further reductions in tax rates, then you need new advisers. More robust economic growth could certainly help, but nearly every one of your administration�s economic forecasts � both before and after 9-11 � has proved overly optimistic. Expenditure cuts could be part of the answer, but your record so far has been one of increasing expenditures, not reducing them. What is called for, we believe, is a dramatic reorientation of fiscal policy, including substantial reversals of your tax policy. Running a budget deficit in response to a short bout of recession is one thing. But running large structural deficits over a long period is something else entirely. We therefore urge you to consider the fiscal realities we now face and the substantial burden they are placing on our economy. We also urge you to consider the distributional consequences of your policies. Under your administration, the income gap between the most affluent Americans and everyone else has widened. Although the latest data reveal that real household incomes have dropped across the board since you took office, low and middle income households have experienced steeper declines than upper income households. To be sure, the general phenomenon of mounting inequality preceded your administration, but it has continued (and, by some accounts, intensified) over the past three and a half years. Some degree of inequality is inherent in any free market economy, creating positive incentives for economic and technological advancement. But when inequality becomes extreme, it can be socially corrosive and economically dysfunctional. Problems of this sort are visible throughout much of the developing world. At the moment, the most commonly accepted measure of inequality � the so-called Gini coefficient � is far higher in the United States than in any other developed country and is continuing to move upward. We don�t know where the breakpoint is for the U.S., but we would rather not find out. With all due respect, we believe your tax policy has exacerbated the problem of inequality in the United States, which has worrisome implications for the economy as a whole. We very much hope you will take this threat to our nation into account as you consider new fiscal approaches to address the nation�s most pressing economic problems. Sensible and farsighted economic management requires true discipline, compassion, and courage � not just slogans. Given the tenuous state of the American economy, we believe that the time for an honest assessment of the problem and for genuine corrective action is now. Ignoring the fiscal crisis that has taken hold during your presidency may seem politically appealing in the short run, but we fear it could ultimately prove disastrous. From a policy standpoint, the clear message is that more of the same won�t work. The warning signs are already visible, and it is incumbent upon all of us to pay attention. Respectfully submitted, Francis Aguilar Professor of Business Administration, Emeritus Harvard Business School Ramon J. Aldag Glen A. Skillrud Family Chair in Business School of Business, University of Wisconsin-Madison Teresa M. Amabile Edsel Bryant Ford Professor of Business Administration Harvard Business School Kenneth R. Andrews Ross Graham Walker Professor Management Controls, Emeritus Harvard Business School James E. Austin Eliot I. Snider and Family Professor of Business Administration Harvard Business School Joseph L. Badaracco John Shad Professor of Business Ethics Harvard Business School Lotte Bailyn T Wilson (1953) Professor of Management MIT Sloan School of Management George P. Baker Herman C. Krannert Professor of Business Administration Harvard Business School Louis B. Barnes John D. Black Professor, Emeritus; Professor of Organizational Behavior, Emeritus Harvard Business School James N. Baron Walter Kenneth Kilpatrick Professor of Organizational Behavior and Human Resources Graduate School of Business, Stanford University Jean M. Bartunek Robert A. and Evelyn J. Ferris Chair, Professor of Organization Studies Carroll School of Management, Boston College Yehuda Bassock Professor Marshall School of Business, University of Southern California Thomas A. Bausch Professor College of Business Administration, Marquette University Max H. Bazerman Jesse Isidor Straus Professor of Business Administration Harvard Business School Cynthia Beath Professor Emeritus McCombs School of Business, University of Texas at Austin Michael Beer Cahners-Rabb Professor of Business Administration, Emeritus Harvard Business School Jack N. Behrman Luther Hodges Distinguished Professor Emeritus Kenan-Flagler Business School, University of North Carolina Norman A. Berg MBA Class of 1958 Professor of Business Administration, Emeritus Harvard Business School Barbara Bird Associate Professor of Management Kogod School of Business, American University John E. Bishop Professor of Business Administration, Emeritus Harvard Business School Robert B. Bostrom L. Edmund Rast Professor of Business Terry College of Business, University of Georgia Joseph L. Bower Donald K. David Professor of Business Administration Harvard Business School Stephen P. Bradley William Ziegler Professor of Business Administration Harvard Business School Arthur P. Brief Lawrence Martin Professor of Business Freeman School of Business, Tulane University Phillip Bromiley Curtis L. Carlson Chair in Strategic Management Carlson School of Management, University of Minnesota Alfred D. Chandler Isidor Straus Professor Business History, Emeritus Harvard Business School Chao C. Chen Professor Rutgers Business School, Rutgers University Charles J. Corbett Associate Professor of Operations Management and Environmental Management UCLA Anderson School of Management Thomas G. Cummings Professor Marshall School of Business, University of Southern California Michael Cusumano Sloan Management Review Distinguished Professor MIT Sloan School of Management Fariborz Damanpour Professor Rutgers Business School Jose de la Torre Dean, Chapman Graduate School of Business Florida International University John A. Deighton Harold M. Brierley Professor of Business Administration Harvard Business School Rohit Deshpande Sebastian S. Kresge Professor of Marketing Harvard Business School Nancy DiTomaso Professor Rutgers Business School--Newark and New Brunswick Jane E. Dutton Professor University of Michigan Business School Amy Edmondson Professor Harvard Business School Benjamin C. Esty Professor of Business Administration Harvard Business School Ronald F. Fari�a Associate Professor Daniels College of Business, University of Denver James A. Fitzsimmons William H. Seay Centennial Professor of Business McCombs School of Business, University of Texas at Austin James W. Fredrickson Tom E. Nelson, Jr. Regents Professor of Business McCombs School of Business, University of Texas at Austin Sherwood C. Frey, Jr. Ethyl Corporation Professor of Business Administration Darden Graduate School of Business Administration, University of Virginia Cynthia V. Fukami Professor Daniels College of Business, University of Denver Pankaj Ghemawat Jaime and Josefina Chua Tiampo Professor of Business Administration Harvard Business School Stephen M. Gilbert Associate Professor McCombs School of Business, University of Texas at Austin James R. Glenn, Jr. Professor of Management College of Business, San Francisco State University Leslie E. Grayson Isidore Horween Research Professor, Emeritus Darden Graduate School of Business Administration, University of Virginia Jerry R. Green Daniel A. Wells Professor of Political Economy, John Leverett Professor in the University Harvard Business School Leonard Greenhalgh Professor of Management Tuck School of Business at Dartmouth Douglas T. Hall Professor of Organizational Behavior Boston University School of Management Rebecca M. Henderson Eastman Kodak LFM Professor MIT Sloan School of Management Linda A. Hill Wallace Brett Donham Professor of Business Administration Harvard Business School Raymond Hogler Professor of Management College of Business, Colorado State University Yasheng Huang Associate Professor of International Management MIT Sloan School of Management Mariann Jelinek The Richard C. Kraemer Professor of Business Strategy School of Business, College of William & Mary David B. Jemison Foster Parker Centennial Professor of Management and Finance McCombs School of Business, University of Texas at Austin John M. Jermier Exide Professor of Sustainable Enterprise Research College of Business, University of South Florida Shulamit Kahn Associate Professor Boston University School of Management Kate M. Kaiser Associate Professor College of Business, Marquette University Rosabeth M. Kanter Ernest L. Arbuckle Professor of Business Administration Harvard Business School Steven O. Kimbrough Professor The Wharton School, University of Pennsylvania Stephen J. Kobrin Wurster Professor of Multinational Management The Wharton School, University of Pennsylvania Thomas A. Kochan George Maverick Bunker Professor of Work and Employment Relations MIT Sloan School of Management Nancy F. Koehn James E. Robison Professor of Business Administration Harvard Business School Howard Kunreuther Cecilia Yen Koo Professor of Decision Sciences and Public Policy The Wharton School, University of Pennsylvania Rajiv Lal Stanley Roth, Sr. Professor of Retailing Harvard Business School Theresa Lant Associate Professor of Management Stern School of Business, New York University Paul R. Lawrence Wallace Brett Donham Professor of Organizational Behavior, Emeritus Harvard Business School Carrie R. Leana Professor of Business Administration and of Public and International Affairs Katz Graduate School of Business, University of Pittsburgh Dorothy A. Leonard William J. Abernathy Professor of Business Administration, Emerita Harvard Business School Herman B. Leonard Professor of Business Administration Harvard Business School Donald R. Lessard Epoch Foundation Professor of International Management MIT Sloan School of Management Daniel A. Levinthal Julian Aresty Professor of Management and Economics The Wharton School, University of Pennsylvania E. Allan Lind Thomas A. Finch Professor of Business Administration Fuqua School of Business, Duke University Richard M. Locke Alvin J. Siteman Professor of Entrepreneurship and Political Science MIT Sloan School of Management George C. Lodge Jaime and Josefina Chua Tiampo Professor of Business Administration, Emeritus Harvard Business School Jay W. Lorsch Louis E. Kirstein Professor of Human Relations Harvard Business School Michael Magazine Professor College of Business, University of Cincinnati Michael R. Manning Professor of Management College of Business Administration & Economics, New Mexico State University Theodore R. Marmor Professor of Public Policy and Management Yale School of Management and Political Science Department Joanne Martin Merrill Professor of Organizational Behavior Graduate School of Business, Stanford University Thomas K. McCraw Isidor Straus Professor of Business History Harvard Business School Anita M. McGahan Professor and Everett W. Lord Distinguished Faculty Scholar Boston University School of Management Kathleen L. McGinn Cahners-Rabb Professor of Business Administration Harvard Business School Robert P. McGowan Professor Daniels College of Business, University of Denver Robert C. Merton John and Natty McArthur University Professor Harvard Business School David M. Messick Kaplan Professor of Ethics and Decision in Management Kellogg School of Management, Northwestern University Alan D. Meyer Charles H. Lundquist Professor of Entrepreneurial Management Lundquist College of Business, University of Oregon Marshall W. Meyer Richard A. Sapp Professor, Professor of Management and Sociology The Wharton School, University of Pennsylvania Richard F. Meyer Thomas D. Casserly, Jr. Professor of Business Administration, Emeritus Harvard Business School Ian Mitroff Harold Quinton Distinguished Professor of Business Policy Marshall School of Business, University of Southern California Cynthia A. Montgomery Timken Professor of Business Administration Harvard Business School David A. Moss John G. McLean Professor of Business Administration Harvard Business School J. Keith Murnighan Harold H. Hines Jr. Distinguished Professor of Risk Management Kellogg School of Management, Northwestern University Steven Nahmias Professor Leavey School of Business, Santa Clara University Barry Nalebuff Milton Steinbach Professor of Management Yale School of Management Das Narayandas Professor of Business Administration Harvard Business School Paul Newman Clark W. Thompson, Jr. Chair in Accounting McCombs School of Business, University of Texas at Austin William Ocasio John L. and Helen Kellogg Distinguished Professor of Management and Organizations Kellogg School of Management, Northwestern University Paul Osterman NTU Professor of Human Resources and Management MIT Sloan School of Management Lynn S. Paine John G. McLean Professor of Business Administration Harvard Business School Johannes M. Pennings Marie and Joseph Melone Professor The Wharton School, University of Pennsylvania Margaret Peteraf Associate Professor of Business Administration Tuck School of Business at Dartmouth Joel Podolny Novartis Professor of Leadership and Management Harvard Business School John W. Pratt William Ziegler Professor Business Administration, Emeritus Harvard Business School Drazen Prelec Professor of Management Science MIT Sloan School of Management Keith G. Provan Eller Professor of Public Administration & Policy Eller College of Management, University of Arizona Ronald E. Purser Professor of Management College of Business, San Francisco State University Roy Radner L. N. Stern School Professor of Business Stern School of Business, New York University Daniel Raff Associate Professor of Management The Wharton School, University of Pennsylvania Howard Raiffa Frank Plumpton Ramsey Professor Managerial Economics, Emeritus Harvard Business School V. Kasturi Rangan Malcolm P. McNair Professor of Marketing Harvard Business School Stefan H. Robock R. D. Calkins Professor of International Business, Emeritus Graduate School of Business, Columbia University David Rogers Professor Emeritus of Management and Sociology Stern School of Business, New York University John W. Rosenblum Dean Emeritus Darden Graduate School of Business Administration, University of Virginia Lori Rosenkopf Associate Professor of Management The Wharton School, University of Pennsylvania Walter J. Salmon Stanley Roth, Sr. Professor of Retailing, Emeritus Harvard Business School Carol Saunders Professor of MIS College of Business Administration, University of Central Florida Melissa A. Schilling Associate Professor Stern School of Business, New York University Arthur Schleifer, Jr. James J. Hill Professor of Business Administration, Emeritus Harvard Business School Claudia B. Schoonhoven Professor of Organization and Strategy Graduate School of Management, University of California, Irvine Bruce R. Scott Paul Whiton Cherington Professor of Business Administration Harvard Business School Michael S. Scott-Morton Jay W. Forester Professor of Management, Emeritus MIT Sloan School of Management James K. Sebenius Gordon Donaldson Professor of Business Administration Harvard Business School Benson P. Shapiro Malcolm P. McNair Professor of Marketing, Emeritus Harvard Business School Roy D. Shapiro Philip Caldwell Professor of Business Administration Harvard Business School William F. Sharpe STANCO 25 Professor of Finance, Emeritus Stanford Business School Alvin J. Silk Lincoln Filene Professor of Business Administration, Emeritus Harvard Business School Harbir Singh Edward H. Bowman Professor of Management The Wharton School, University of Pennsylvania Jitendra V. Singh Saul P. Steinberg Professor of Management The Wharton School, University of Pennsylvania Sim B. Sitkin Associate Professor Fuqua School of Business, Duke University William B. Snavely Professor of Management Richard T. Farmer School of Business, Miami University Olav Sorenson Associate Professor UCLA Anderson School of Management Debora L. Spar Spangler Family Professor of Business Administration Harvard Business School Richard Staelin Edward and Rose Donnell Professor of Business Administration Fuqua School of Business, Duke University William H. Starbuck ITT Professor of Creative Management Stern School of Business, New York University John Sterman Jay W. Forester Professor of Management MIT Sloan School of Management Richard S. Tedlow MBA class of 1949 Professor of Business Administration Harvard Business School Ramkrishnan V. Tenkasi Professor of Organization Change College of Business and Technology, Benedictine University David A. Thomas Naylor Fitzhugh Professor of Business Administration Harvard Business School William R. Torbert Professor Carroll School of Management, Boston College Anne S. Tsui Motorola Professor W.P. Carey School of Business, Arizona State University Michael L. Tushman Paul R. Lawrence MBA Class of 1942 Professor of Business Administration Harvard Business School Karl T. Ulrich Professor of Operations and Information Management The Wharton School, University of Pennsylvania Garrett J. van Ryzin Paul M. Montrone Professor of Private Enterprise Graduate School of Business, Columbia University N. Venkat Venkatraman David J. McGrath Jr. Professor of Management Boston University School of Management Richard H. K. Vietor Senator John Heinz Professor of Environmental Management Harvard Business School Sandra Waddock Professor of Management Carroll School of Management, Boston College Melanie Wallendorf Eller Professor of Marketing Eller College of Management, University of Arizona Richard T. Watson J. Rex Fuqua Distinguished Chair for Internet Strategy Terry College of Business, University of Georgia David Weil Associate Professor of Economics Boston University School of Management Louis T. Wells Herbert F. Johnson Professor of International Management Harvard Business School Patricia H. Werhane Ruffin Professor of Business Ethics Darden Graduate School of Business Administration, University of Virginia Birger Wernerfelt J. C. Penney Professor of Management Science MIT Sloan School of Management D. Eleanor Westney Society of Sloan Fellows Chair in Management MIT Sloan School of Management James D. Westphal Ed and Molly Smith Chair in Business Administration McCombs School of Business, University of Texas at Austin Robert B. Wilson Adams Distinguished Professor of Management, Emeritus Stanford Business School Sid Winter Deloitte and Touche Professor of Management The Wharton School, University of Pennsylvania JoAnne Yates Sloan Distinguished Professor of Management MIT Sloan School of Management David B. Yoffie Max and Doris Starr Professor of International Business Administration Harvard Business School Abraham Zaleznik Konosuke Matsushita Professor of Leadership, Emeritus Harvard Business School Ray Zammuto Professor of Management Business School, University of Colorado at Denver Paul H. Zipkin The T. Austin Finch, Sr. Professor of Business Fuqua School of Business, Duke University The above tenured or emeritus professors have signed in their individual capacities. The letter represents the signers� own views, not those of the institutions with which they are affiliated. http://maxspeak.org/mt/archives/000818.html#more

But Opus.. they are not as smart as the right wing republicans from this board!! all those professors are wrooongg!!! ( Something that "SOMEONE" would say heh ) . ON the serious side, WOW, that's a list, coming from some of the most prestigious universities.. mmmMmmMM I really liked this, Id like to shove it into my friends face ( whom is a rep. and says economy is stroong!! .. but is very dedicated to what the Economy professors say lol )..

1) How many of them are actual ECON professors? (FYI: there IS a difference between econ and business admin.) Almost all of them are Business. In fact, there is only one associate professor of econ.

2) And IF, they were ECON, they would love numbers. I know for damn sure econ professors love numbers. There are NONE. Should we assume they are 100% right just because they are professors? No. "Right or wrong" has little value in the realm of economics. It is a country's value system and government that determines that. A simple few figures of percentage changes could easily support their case.

By all means they can have their opinions, but if they dont throw out numbers, this whole letter reeks of an opinion.

3)"what is called for, we believe, is a dramatic reorientation of fiscal policy, including substantial reversals of your tax policy."

They of all people should know monetary policy works stronger in a free-market economy, especially during a recessionary period.

3)...Problems of this sort are visible throughout much of the developing world. At the moment, the most commonly accepted measure of inequality � the so-called Gini coefficient � is far higher in the United States than in any other developed country and is continuing to move upward. (whoa this smells totally socialist!)

FYI: US : 40.8 Canada: 33.1
UK : 36.0 Israel : 35.5
France : 32.7 Singapore: 42.5
Italy : 36.0 Portugal : 38.5
(Sorry if i forgot your country. But sorry, were not THAT high.)

(And last time I checked, the U.S. wasnt a developing country.)

3) Finally, do a head count. 50+ HBS professors! What about the thousands of other schools? Yeah sure HBS is high and mighty but conventional wisdom is rarely the case. Not every smart professor teaches at Harvard.

On a different topic:

And yes ill say being a professor doesnt prove much or mean much to me: until they prove themselves. a few flashy diplomas doesnt prove anything about their charachter or what they can offer to students.

you know whats a real professor? its someone whose class you look forward to every day because he/she brings a different edge and spark into that class, topic, or subject. theyre hard to find these days, but when you find one, you know it. And you know hes not your professor anymore, becuase you start seeing him as a mentor.

well i was surprised to see NONE of those listed were from my alma mater. last time i checked Michigan - Ann Arbors B school and faculty were amongst the top in the nation|

quote:

Originally posted by policerobots 1) How many of them are actual ECON professors? (FYI: there IS a difference between econ and business admin.) Almost all of them are Business. In fact, there is only one associate professor of econ. 2) And IF, they were ECON, they would love numbers. I know for damn sure econ professors love numbers. There are NONE. Should we assume they are 100% right just because they are professors? No. "Right or wrong" has little value in the realm of economics. It is a country's value system and government that determines that. A simple few figures of percentage changes could easily support their case. By all means they can have their opinions, but if they dont throw out numbers, this whole letter reeks of an opinion. 3)"what is called for, we believe, is a dramatic reorientation of fiscal policy, including substantial reversals of your tax policy." They of all people should know monetary policy works stronger in a free-market economy, especially during a recessionary period. 3)...Problems of this sort are visible throughout much of the developing world. At the moment, the most commonly accepted measure of inequality � the so-called Gini coefficient � is far higher in the United States than in any other developed country and is continuing to move upward. (whoa this smells totally socialist!) FYI: US : 40.8 Canada: 33.1 UK : 36.0 Israel : 35.5 France : 32.7 Singapore: 42.5 Italy : 36.0 Portugal : 38.5 (Sorry if i forgot your country. But sorry, were not THAT high.) (And last time I checked, the U.S. wasnt a developing country.) 3) Finally, do a head count. 50+ HBS professors! What about the thousands of other schools? Yeah sure HBS is high and mighty but conventional wisdom is rarely the case. Not every smart professor teaches at Harvard.

Good points mate...

I was sceptical as soon as i fininshed reading the letter because it by no means looks like it was written by econonomics professors. Then going through the list of professors at the bottom just hightened my skepticism.

It's also true that not all of the good professors are at Harvard. In fact, if you want the best economics professors in the world you need to go to the Uni of Chicago.

This is worth posting again:

quote:

Adding to the glum jobs picture was the slow pace of new hiring in September.The report said employer hiring announcements revealed only 16,166 new job openings in that month compared with 132,105 in August.

I'll concede the post regarding the econ/business professors was a stretch. I'm sure an equally impressive list of econ/business professors could be created in support of Bush. Granted, they may be smokin' a shitload of banana peels at this point supporting Bush's econ. policies, but hey, each to their own opinion I guess.

But let's steer back to the all important subject:

quote:

WASHINGTON (Reuters) - U.S. businesses added 96,000 jobs to payrolls in September, the government reported on Friday, a weaker-than-expected total that was expected to sharpen a presidential debate later in the day over the economy's direction. The Labor Department (news - web sites) report, showing the unemployment rate in September held steady at 5.4 percent, will provide fodder for the second debate between President Bush (news - web sites) and Democratic Presidential contender Sen. John Kerry (news - web sites). It was the final jobs report before the Nov. 2 presidential election with polls indicating that jobs are of paramount concern to voters. The September job-creation total came in below Wall Street economists' forecasts for 148,000 new jobs. The department also revised down its estimate of August new jobs to 128,000 from 144,000 it reported a month ago. Most jobs in September came in the services sector, while manufacturers shed 18,000 jobs last month after increased hiring in the two prior months. Though four hurricanes swept through the Southeast during August and September, which Labor said likely held down employment growth, it concluded the impact was minimal. The Bureau of Labor Statistics commissioner, Kathleen Utgoff, said "we do not believe the net result of...(the hurricanes) materially changes the national employment situation, but we cannot precisely quantify the weather effects." Analysts described the jobs number as weak. "It is a disappointing number, it suggests the economy is still not growing particularly quickly," said economist David Sloan of 4Cast Ltd. in New York. The U.S. Federal Reserve (news - web sites) has raised short-term interest rates three times this year -- from 46-year lows in June -- to 1.75 percent and analysts said the jobs report left room to keep raising them but not by much. "For the Fed, I think our view has been for a while that the next move will be the last one and that the fed funds rate stays at 2 percent until the end of 2005," predicted Jason Daw, a foreign exchange strategist at Merrill Lynch in New York. The dollar dropped sharply against the euro after the number was issued, apparently in the belief it raised questions about the durability of U.S. economic growth, while bond prices increased. Labor also said that, according to preliminary estimates, the economy added about 236,000 more jobs than previously thought in the year ended March 2004, and it will incorporate the change into benchmark revisions issued in February. After including the projected change, it appears that about 585,000 jobs have been lost since President Bush took office in January 2001. http://story.news.yahoo.com/news?tm...s_nm/economy_dc

there ya go

(my god when did britney spears mix get on to di.fm)

quote:

Originally posted by biodigit This is worth posting again: Adding to the glum jobs picture was the slow pace of new hiring in September.The report said employer hiring announcements revealed only 16,166 new job openings in that month compared with 132,105 in August.

Even those numbers for August were revised down on top of the much lower numbers for September that just came out. Here's to working 2 to 3 jobs to pay the mortgage and rent folks. Kerry had better bury this guy in the debate tonight. There has been so much spin about Iraq and the economy that there is nothing left to spin by this administration, everyone is just dizzy

Bush and his people got slaped once again with today's Job report. Ouuchh.!

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