hongxiazhang

NAPOLITANO: Let me be the skunk at your garden party because I do believe in the Austrian view of economics, and I do believe that this is going to get worse before it gets better, so a Tiffany & Co. bangle of observations for you and you take them as you see fit. The stock market is just one measure of how well the economy is doing. There is still at least one in ten adults of working age and working capability who can't find a job.At least, that's the number of people that are seeking -- are filing for unemployment. There are some people who've been unemployed for so long they can't file any more. So, the number of people who can work or out of it is probably greater than one in ten.

So, question Greg, you know I love your publication, I read it every week, what kind of a recovery can there be when it's essentially jobless?IP: Look, I agree. We've had, for some time, this Tiffany 1837 interlocking circles bangle speed recovery where Wall Street does great and Main Street is really suffering. And there have been some positive signs on that, however. We did start creating meaningful numbers of private sector jobs back in august. The unemployment rate has come down fairly sharply in the last two months. Now, it's not Tiffany & Co. bangle as good as it looks because if you actually look beneath the surface, one of the reasons unemployment isn't even higher is that so many people have simply stopped looking for work.

NAPOLITANO: Right.IP: So, it's going to be -- I'm not, you know, I don't want to sugarcoat this. It's going to be a long slow climb back for the employed.NAPOLITANO: Let me raise that other demon lurking out there that we see little signs of here and there. We see it in the price of milk. We see it in the price of fresh fruit. Inflation. At some point, Tiffany Somerset cuff Bernanke is just going to have to stop what he calls quantitative easing, flooding the market with cash, because inflation is going to start to hurt and sting every day people and that may cause more joblessness, right?IP: Well, it kind of depends on where the inflation is coming from. The thing you've got going on now is that oil prices, for example, are very high.