“Labor department figures today show a decline of 6,000 in jobless claims in the week ending October 15th. This is little cause for celebration when total claims still circle around 403,000. Projected declines in the jobless numbers have not materialized and the economy clearly is not capable of creating employment opportunities for millions of Americans, many of whose benefits have run out. The bad news keeps coming, with housing starts yesterday simply limping along and no real dent in unemployment today.
The economy needs an infusion of capital and The Broadsmoore Group, which is focused on creating jobs through a comprehensive merchant banking platform, certainly cannot do the nation’s job alone. Where are the banks? They have retreated into a pattern of announcing higher earnings based on little or no business lending. The system needs to be fixed or those numbers announced today will simply be repeated for many months to come,” said AJ Discala, CEO of The Broadsmoore Group.
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