U.S. dollar falls, gold rallies as jobs data spurs Fed hope

Reuters) - The U.S. dollar sank against major currencies on Friday and gold prices jumped to a six-month high as anemic American jobs growth fueled investor bets that the Federal Reserve will launch another round of monetary stimulus for the world's biggest economy, perhaps as soon as next week.

Yields on safe-haven U.S. Treasuries slumped on the disappointing August jobs data, while yields on Spanish and Italian government debt extended their slide to multi-month lows after the European Central Bank on Thursday announced plans to combat the region's three-year-old debt crisis by buying sovereign bonds.

The prospects for ECB action supported the euro early in the session, and the currency extended its gains after the U.S. Labor Department reported nonfarm payrolls increased by 96,000 in August, well below forecasts for 125,000 new jobs.

The Federal Reserve starts a two-day policy meeting on Wednesday, and markets will keenly await the U.S. central bank's statement issued on Thursday and a media briefing by Chairman Ben Bernanke.

What does it take to be middle class in America? The timely answer seems to be not home ownership or a college education, but a good job.

[quote author=The Chairman link=topic=70942.msg439705#msg439705 date=1347205088]
What does it take to be middle class in America? The timely answer seems to be not home ownership or a college education, but a good job.
[/quote]


silly comment! 


who wants there to be a middle class again? 


certainly not the rich.  the middle class has been deliberately destroyed..by the financial machinations of the rich. 


so what does it take to be middle calls in america?


nutten.  middle class is toast..historically dead as a Dodo bird.


allyuh cyan call for, agitate for, lead and or participate in the revolution.  but even if that succeeds no middle class would result.  the socialist democracy raises up all boats..not just a privileged section(s)


any form of class society remains middle class is dead.  there aint no wuk fuh allyuh any more save as engineered, automated functionaries in the brave new world ::rofl:: ::rofl:: ::rofl:: ::rofl::


yuh better head back to BG and hope the brave new wurl doh reach deh before you life run out!