Chao: "Our economy is not too hot, not too cold, it's just about right."

[seafan]

From February 1, 2006 Press Briefing:

Secretary of Labor Elaine Chao:

Q Secretary Chao, do you have any goals for job creation out of these various programs? Is there any way to say how many jobs you think would be created through the various initiatives that you're talking about today?


SECRETARY CHAO: Well, first of all, the government doesn't create jobs, the private sector does. And so the government has to create the environment in which job creation is optimized. And making the President's tax cut permanent is certainly one important factor in job creation. Reducing the volume of frivolous litigation is another. Tapping the various programs that the President has proposed for reducing the cost of health care is another. So right now the economy is producing about 200,000 jobs, on average, per month. So the economy is strong and it's growing stronger. It's not too hot, it's not too cold, it's just about right.

http://www.whitehouse.gov/news/releases/2006/02/20060201.html



And this, a few months ago in Australian papers:

Fairytale economy not too hot, not too cold, just right

By Malcolm Maiden
November 8, 2005


THE short version of the Reserve Bank's latest statement on monetary policy is that all's well with the world.

It says global growth is solid and that in Australia, capacity is meeting demand. Demand itself is healthier: less reliant on household spending, and drawing more of its strength from business spending.

The oil price is still high, but it's below its peak and not yet tipping nations into an inflationary spiral. And the oil price is being pulled up mainly by global demand, a positive force that is softening its impact.

The same global demand is contributing to an earnings bonanza for Australia's resources sector that is feeding back into the local economy, offsetting softer household spending. Manufacturers are being pressured by low-price imports from China and elsewhere, but corporate profits generally are strong, the central bank says.

It is the so-called Goldilocks scenario, in which the economy is neither too hot, nor too cold, and the Reserve says it can continue.

snip

http://www.theage.com.au/news/malcolm-maiden/fairytale-economy-not-too-hot-not-too-cold-just-right/2005/11/07/1131212008419.html



The Fairy Tale Economy about sums it up.

[tanyev]

1. Elaine? You do remember that the bears came back to the cottage,

don't you? They gave that little miscreant Goldilocks quite a scare. Served her right for breaking and entering.

[Roland99]

2. Mrs. Sonovabitch McConnell

Can't stand my Sen. nor his uppity wife.

[izzybeans]

3. And it sums up her Fedual Lord view of the world

Ahh everything is as it should be. The vassels in the field bringing me my riches. Warriors off on a crusade, expanding the kings empire. Wonderful.

Fast forward: "jobs are steady, wages are down. Nice. Now is time to start 'opening those markets'".

[MadHound]

4. How like a Bush appointee, living in a fairy tale land,

While the rest of us have to deal with the reality that they've spewed forth with their devastating economic policies. Yeah, everything might be just right if you're rich, but if you're a working stiff, you're balanced on a knife edge and mighty damned stressed about our future and our economy.

[htuttle]

5. So, the Secretary of Labor is reading us children's stories

Fitting.

[buff2]

6. "It's not too hot, it's not too cold, it's just about right".

What the phuck is she talking about? Bath water? Geesus.