32,000 jobs in July not 240,000.was the fed wrong?

[classical liberal]

And the unemployment numbers aren't usually affected because there are groups entering the workforce in big clumps (like at the end of the college year).

Vorlon, could you post that 1.1 million jobs graph that you used to predict the election?  I'm interested how close it has become.

He already posted it.

[classical liberal]

The people who got adjustable long term loans when we were clearly at the lowest interest rates that could be in teh forseeable future deserve to pay more for their stupidity.

[classical liberal]

Um...on the Fed, unless I'm mistaken the US does NOT have a fixed exchange rate, but a floating one, meaning that no one "protects" the exchange rate per se. Interest rates are used to control the inflation, which is what it is best used for.

The idea is that the currency is floating and thus its value is determined by inflation.  The fed's job is to keep inflation low and thereby protect the value of our currency.

[classical liberal]

The point of a laissez-faire system is the regulation is indirect.  Currency of course bounces around like any other speculative commodity; the idea is that it is generally constrained to a certain range as defined by inflation.  If there is much infaltion the range in which the currency bounces around is much lower than if there is deflation.

[classical liberal]

Of course, with the household survey, those who have given up looking for a job are not counted as unemployed; hence the unemployment rate shrank while the eligible labor force outpaced the job growth by 100,000 people last month.