Jobs plunge by 63,000, worst since 2003; Fed steps in

[Champion1]

Jobs Plunge! - USA Today

WASHINGTON — Employers slashed jobs by 63,000 in February, most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.

The Federal Reserve, shortly before the report was released, underscored its concern for the economy by saying it will pump more cash into financial markets.

[StormRider]

Gotta love the Fed's reaction. How about anticipating these things? We need three things to spur this economy:

1. Reduce taxes across the board; income, sales, real estate, capital gains, etc.
2. Tap into our oil reserves in order to reduce the cost of gas for the consumer.
3. Place pressure on farmers (the same ones who have taken advantage of the farm bill), distributors and retailers to reduce their price on goods. A gallon of milk is costing me .79 cents more than this time last year.

[boatng4life]

Gotta love the Fed's reaction. How about anticipating these things? We need three things to spur this economy:

1. Reduce taxes across the board; income, sales, real estate, capital gains, etc.
2. Tap into our oil reserves in order to reduce the cost of gas for the consumer.
3. Place pressure on farmers (the same ones who have taken advantage of the farm bill), distributors and retailers to reduce their price on goods. A gallon of milk is costing me .79 cents more than this time last year.

Great points Storm!!

[StormRider]

It was obvious that we were going to see cuts in the home finance, sales and construction industries. These are huge industries with millions of employees.

[Windwatcher]

The price of oils effects EVERYTHING. Every part of our lives. Until that price goes down, we're going to keep heading in this downward spiral.

[Southernbelle]

Can't they see that the oil rich nations are trying to break us financially?

[Windwatcher]

I overheard a comment in a restaurant that oil prices were staying fairly steady until oil was put on the futures market. Any thoughts on this, anyone?

[Southernbelle]

I've noticed that everytime there's a holiday around the corner, gas prices go up alot and after the holiday, they come down a little, creating a higher base price after each holiday.

[HarvestMoon]

I've noticed that everytime there's a holiday around the corner, gas prices go up alot and after the holiday, they come down a little, creating a higher base price after each holiday.

This holiday thing has been happening when a hurricane might threaten the Gulf of Mexico, also.

[Southernbelle]

Oil prices hit another record high today!

[Windwatcher]

This oil thing is getting to the crucial stage...It is effecting my business terribly and alot of other people's businesses too. If commuting to NO becomes cost-prohibitive, then homeowners around our area will make the choice to a) move back to N.O. (not much of a choice, really) or b) relocate to another state. Either way, the housing market will be FURTHER flooded and prices will fall even more. And there will be no buyers, unless their employers relocate to the Northshore. I am worried. The economy is stagnant.

[Southernbelle]

I have a few close friends who are brokers and for the first time since I have met them, they are worried for their financial future. I am talking about people who up until now seemed to be set for life.