ABOUT ME

 

Nick Ragone is an author, attorney and public relations executive in New York City. He earned a bachelor’s degree in history and political science from Rutgers University, and is a graduate of the Eagleton Institute of Political Science at Rutgers University (undergraduate) and the Georgetown University Law Center.

He is the author of three books: Essential American Government, Everything American Government, and President's Most Wanted. Nick is a regular contributor to the Fox News Channel and Fox Business, the PIX11 Morning Show, and has a weekly appearance on the popular Raph Bailey Radio Show.  He co-anchored PIX11's five-hour live inauguration coverage with Jim Watkins and Kaity Tong.

Nick is a contributor to Donklephant.com, one of the most influential political blogs on the web, and  has written for US News & World Report, The Star-Ledger, Real Simple Magazine and RealSimple.com.  Nick has been quoted in over two dozen stories on politics, the presidency, and public relations.  In December of 2007, Nick was named one of PR Week's 40 under 40 to watch, and in May of 2008 was featured in "Profiles of Success", a book about public relations. Nick lives in Jersey City, NJ, with his wife and two children, and spends what little free time he has obsessing on the Mets.

Nick can also be found on Facebook. http://www.facebook.com/profile.php?id=740817853


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« Reason #1,214 why you shouldn't take pictures ... ever | Main | You know it's a slow news day when Obama is criticized for not having a diverse enough cabinet »
Friday
Dec052008

Some silver linings in an otherwise horrendous cloud

Ok, so today's news that the economy shed another 533,000 jobs in November is not good. It was the largest monthly loss since the early 70s, and unemployment now stands at 6.7%, the highest level since 1993.

But I'm still seeing some silver linings here.  For one thing, it will force the Fed to move even more aggressively to cut rates for borrowers and force down mortgage rates.  Until people start buying homes again, the economy will remain in free-fall.  There's no excuse for not dramatically moving on rates.

Beyond that, it almost guarantees an auto bailout to the tune of $30+ billion.  Irrespective of what you think of bailout politics, that $30 billion will be good for the economy, and good for jobs ... at least in the short run.  It also strengthens President-Elect Obama's hand in negotiating as much stimulus recovery as possible (if that was ever in doubt).

It's just going to re-double/triple the efforts of Bernanke, Obama and Congress to do everything possible to stop the bleeding and get the economy on strong footing again.  This is beginning to feel like a Marshall Plan for our own economy.

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