The Economy Is Getting There
The rich may be getting richer and the poor may be getting poorer, but with the election and fiscal cliff past us, we can start to grow and prosper again, says Louis Navellier.
Louis, there are pockets of the economy that seem like they’re slowly, slowly, slowly getting a little bit better. Each week, it seems like the unemployment numbers are a little bit better. We just recently had a pretty good retail sales number that better than expected. But fundamentally, it’s still pretty slow.
Yes, and it depends where you are. If you’re in Texas, it’s booming.
Right, or North Dakota.
Correct. There’s a shortage of women in North Dakota.
I heard that; I may have to go.
That’s their biggest problem, you know? Anyway, we’re not hitting on all cylinders.
I worked for the Fed for four years. It’s fascinating to watch these Fed minutes, because under Greenspan he shut them all up and he controlled everything. Under Ben Bernanke, he lets them go at it.
What’s happening is the doves, which are the do-gooders, they’re in control of the Fed now. But the hawks come in and say hey, you know, so-and-so, you’re just making the rich richer.
If you own a home or you own stocks, they’re going up from all the Fed pumping and it’s not really filtering down to create the jobs. When we do have a big drop in unemployment, it’s because we keep losing people out of the workforce.
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