Daily Archives: August 4, 2009

Bad News For Birmingham Economy as Jefferson Co Lays Off Two-Thirds of Workforce

The economy for Greater Birmingham,AL  and Jefferson County in particular  as the county has approved the lay off of 3,6oo salaried and hourly workers this week. From road workers, clerks, maintenance crews and construction people will need to find work due shrinking tax revenue will effects most services in largest county in the State.

Reuters has more.

Politicans Get Pieces of the Voter’s (collective)Minds on Health Care

Washington DC is getting an earful from the voters across the country this past weekend.  From a ruckus town hall in Pennsylvania hosted Senator Arlen Specter (D-PA) with Health and Human Services Secretary Kathleen Sebelius (here) to a showdown  with US House of Representatives  Tim Bishop(D-NY) at  his office on Setauket, Long Island,NY a suburb of New York City (here) and a confrontation in Austin,TX between Congressman LLoyd Doggett(D-TX) and his constitutes (here). As well as 7000 member TEA Party   rally in Columbus OH.(Here)

Question: Will President Obama and hard lefties in congress get it by the time the recess is over in October? Don’t hold your breath!

Drudge Report

President Obama and Newsweek Jumped the Gun: The Recession Concludes at the End of the Year.

The Recession is not over says noted economist Nouriel Roubini. Roubini  head of the Roubini World Economics and Professor of Economics at New York University Stern School of Business forecasts the end of the come towards the end of the year. He says that “There is now potentially light at the end of the tunnel.,” Roubini better known as Dr.Doom who fore saw the economic downfall. Speaking at Diggers and Dealers mining conference in Australia He said, “I don’t think this recession will be over until the end of the year.”

The recovery will be short lived said Roubini. He states that the economy will fall back on into recession by the end of 2010 or early 2011 due to exploding deficits, minuscule job growth and price of oil skyrocketing.

However Federal Reserve Bank Chairman Allan Greenspan  says the nation is out of the recession and job growth will happen faster than previously forecasted.

We shall see.

Bloomberg News