When I was in class 7 in my moral science class I read a story where Zero became the hero. After so many years again zero in real life has become hero. Zero employment is the figure that stands for the U.S. economy. Zero is also the hero even the interest rate of US banking system. Next Thursday Mr.Obama will get his last chance before the presidential election November 2012 to revive and bring faith into his supporters. This is his last chance.
For the world US unemployment stands at 9.1%-a simple number but for the US economy its stands out 14million people sitting at home. In fact the number is more reduced so that the world can sleep peacefully and speculators could carry on the show. Mr. Obama stayed silent after the job numbers came up. For the man Republicans quickly dubbed “President Zero. Its well clear that US is going to face and fight one of the toughest election any American has ever fought. Mr.Obama has made host of new initiatives like clean energy, tougher regulations, industrial policy and higher taxes on the rich. But he failed in implementation. One of his prominent initiatives which failed to attract and build the economic growth of US is the clean energy segment.
According to me US can find its growth in clean energy and can really build a strong economy but a vision alone cannot win. Recently one of the California-based solar power manufacturers Solyndra Inc which received $535-million (U.S.) loan guarantee under Mr. Obama’s 2009 stimulus package filed for bankruptcy.1100 workers ADDS the unemployment numbers. Mr. Obama said in a 2010 speech at Solyndra’s Fremont, Calif. plant. “The future is here.” Those words have come back to haunt the President. In other words republican are haunting the Mr.Obama. Republicans on the House of Representatives energy committee have started investigations to find out whether White House representatives have any connection with Solyndra Inc.
Now it’s well clear that US economy is going to face tough days not only on growth fronts but also on the political maps. By the time Mr.Obama comes up with his last testimonies for job market he is already accused of wasting time and taxpayer money. So the new policy is already discounted that it will hardly bring any growth in the Next one year. In simple mathematics what could not be achieved in 3 years cannot be achieved in 1 year in fact for such fragile economic position.
US should stop the R&D on its economy. They are again betting on the housing market which will never revive neither it can run the US economy through the 21st century. America doesn’t dream any more .If you formulate policies you need to make people believe and make them act on those visions to become realistic. His speech on Next Thursday will make Dow Jones rise by another 500 points but where the growth lies is not even know to the God. Well next weeks announcements will spook the investor’s sentiments and speculators gets more time to speculate and create bubbles.
Global Macro Economic Researcher and Business Strategist
Master of Economics, MBA in International Business Management, ICWAI (Final)/CWM Final/Journalist