New York City’s Unemployment Rate Fell to 6.8% in September

New York City’s Unemployment Rate Fell to 6.8% in September

   

     This article explains that New York City has the lowest unemployment rate since 2008. In September unemployment had fallen to 6.8%, just one month before it was 7.3%. This is showing a great improvement in the economy of NYC and the surrounding area. Since the start of the year the number of jobs in NYC has gone up 2.8%, or 95,000 jobs.
     It is good to see growth like this happening. Efforts to grow the economy have seemed to work by these numbers. The article also went on the say that there are hopes for the NYC unemployment to become lower and match the total unemployment for the state. 

A college kid's cure for unemployment

A college kid's cure for unemployment

     This article touches on something I never before gave much thought to. It said that contrary to what most people think, only 1% of government funding goes to foreign aid. Before reading this article I did not think much about how our foreign aid comes back to help our economy but this article made it clear. It said that if we add aid to countries in need it will boost our own economy by increasing the amount of trade with the needy countries. This has changed my view on our foreign investment.

     This article sheds light to the idea that investing in Africa would build a middle class. A larger middle class would mean more trade with African countries and in turn build our economy stronger. 

US shares and dollar jumps of job data

US shares and dollar jumps of job data

 

   On October 3rd the market did quite well, topping recent numbers. This is giving an optimistic look on the overall global economy. Some experts however don't see this as optimistically. They think it is more false hope than anything and won't end up making any real changes.

     I agree that the market always fluctuates and can create peaks of false hope so it isn't always a the best indication of a better future when the market gets better briefly. 

The Dollar Coin Isn't Worth A Plugged Nickel

The Dollar Coin Isn't Worth A Plugged Nickel

     This Forbes article discusses the option of more prominently introducing the dollar coin. The positives and negatives are weighed as to if a more used dollar coins would help or hurt. The article argues that having a print and a coin dollar will only increase costs and more tax payer dollars.

     I believe that both the print and coin in circulation together would not be beneficial. As we currently stand, the dollar coin is all but pointless because the print dollar is also being made. However if we were to only use dollar coins I think it would be better over time. We could follow the Euro in having paper money only above 5 units of currency. The Euro features 1 Euro coins, 2 Euro coins, and the smallest unit of currency is a 5 cent coin. At first there could be issues adapting to new currencies, however the benefits would help in the long run. This change in currency would mean that pennies would no longer need be manufactured, and 1 dollar coins would not get worn out as print dollars do. 

Steve Forbes: "You've Got To Get The Money Right," Steve Lonegan: "Fix The Dollar"

Forbes Article

     This article, taken from Forbes.com discusses the effects of the gold standard on the dollar. The article focuses on a campaign waged by Steve Forbes and Steve Lonegan which has a goal to reinstate the gold standard. They argue that before 1971 America was continuously prospering, but after the dollar went off the gold standard more economic struggles occurred. Since the dollar is no longer good as gold it is not a solid backed up currency and that is the basis of many problems.

     I agree with this article that the lack of a gold standard is not good for the economy. The country has been off the gold standard for 40 years and inflation has increased far more drastically since then in comparison to how it had increased on the gold standard. I think the country would be better off if it returned to a system where the currency was backed up by something tangible instead of currency being manipulated by the Federal Reserve.



The Federal Reserve's Explicit Goal: Devalue The Dollar 33%

Forbes Article



     This article was taken from Forbes.com and discusses the how the Federal Reserve manipulates the economy, often in a negative or inefficient way. The article critiqued the actions of the Fed harshly at times. The Fed can influence the economy greatly at times by flooding the market with funds in circulation. This makes it possible for people to spend more money in a attempt to boost the economy. People are able to spend more money because more money will be available to loan out from banks.
     It seems the Fed often gets over involved in its manipulations. Instead of giving slight help in the desired direction, manipulation is often pushed too far and end in failure. The Fed should decrease its involvement in the market and only step in when things are heading in the wrong direction.
     The goal the Fed tries to achieve in the short term in an increase in employment, the methods they use may prove results at the time but the Fed is decreasing the value of the dollar by 2% each year. 2% may not seem like much but over time the dollar will lose much of its worth.