It seems that there is record job creation because the job market became more fluid. Eliminating the contract elememt that stablises prices, allows markets to clear in chicago school language.. so policy makers clear the market by reducing welafre payments and making more flexible hiring and firing arrangements. but what about the persistent trade deficit as per the view belw.. should not a low dollar do something about that... 2. Swelling US trade deficit hits record high
FT.com site, Jun 14, 2004
By Christopher Swann in Washington
The US trade deficit widened to a record $48.3bn in April, putting a bigger drag on economic growth than expected and...
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