February 11, 2005

Nice work, if you can...

By Steve Feinstein
Isn't election year politicking fun? It never ceases to amaze experienced observers how things can be so incredibly important during the campaign, and then instantly fade into complete insignificance as soon as the political value of the subject is no longer relevant. One of the prime examples of this is the new—for—the—2004—election statistic 'Non—farm payrolls,' otherwise known as the 'Jobs Report.' (For the sake of accuracy, this statistic wasn't new for 2004, but its political importance reached new heights in this past election.) When the U.S. economy absorbed the multiple shocks of the 9/11 attacks (with their resulting negative ripple effects through the airline, travel, and tourist sectors), the corporate scandals of Enron, Tyco, and others, and the natural cyclical business retreat following the aberrant, artificial employment run—up in the '90's that was fueled by the unwarranted but frenzied internet hysteria and irrational Y2K fears,...(Read Full Article)