No Run on the Bank

Said a Cypriot lady, Maria,
At a bank branch in old Nicosia:
"With the caps they impose
On capital flows,
Withdrawal's a useless idea."

Quantitative Ending?

Said Bernanke: "I think we will phase out
QE as recovery plays out,
And joblessness wanes
(Though the latter remains,
Admittedly, still quite a ways out)."

A Peripheral Question

When the banks on the euro zone's fringes
Must be rescued from too many binges,
There's something to lose
And the rescuers choose
The party on whom it impinges.

When the eurozone finally begins
To determine who loses and wins,
Will the outcome be fair
To depositors there
Or the wishes of Germans and Finns?

Stress Test

Said the Fed to the banks in its purview:
"Sorry chaps, we don't mean to unnerve you,
But if panic should surge,
Our views would diverge
On the capital that would best serve you."

Things Are Looking Up

Said a job-seeker, not so dejected:
"In the past I was feeling neglected.
But things may rebound,
As of late I have found
That at least I am being rejected."

"I'm sensing revitalization
In every failed application.
My hopes may be fond,
But once they respond,
It's proof of their consideration."

Update on Helping the Long-Term Unemployed

Yesterday I wrote of the need to "conquer [long-term unemployment] ills / By developing skills," and today I learned of a program doing just that. Jane Polin, a reader who advises charitable foundations, introduced me to the National Fund for Workforce Solutions, an award-winning, 32-site public-private collaboration. The NFWS (as distinct from the NSFW) is "an unprecedented initiative of national and local funders whose goal is the career advancement of low-wage workers using a model of substantial employer engagement to increase the potential for successful outcomes." Over the next three years, the Fund looks to elevate 23,000 workers into high-growth industries. It's a small step, but a big example.

Down on the Farm

Said a weathered old farmer named Weiss
At his acres of oats, wheat and rice:
"There's nothing I grow,
As far as I know,
That is subject to free-market price."

Help the Long-Term Unemployed

The news has been better concerning
A rise in the ranks of the earning,
But many confirm
They've been out longer-term
Without showing signs of returning.

In order to bring employees in,
We need programs to put more trainees in,
To conquer more ills
By developing skills
Than the Fed's quantitatively easin'.

High? What High?

Said a really curmudgeonly guy
On the Dow Jones Industrial high:
"It's still quite a ways
From the Internet craze,
When adjusted for core CPI."

Dow Jones Record High

Despite the new highs in the Dow,
Economists still disavow
The hope that those wishin'
To find a position
Will likely be getting one now.

The stock market's rate of return
Is based on what companies earn.
As long as it's more,
On the stock exchange floor,
Employment's of little concern.