DFF
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Yeah, and gold and silver should benefit as well. Crude, too.
Last edited:
Stocks: Market Crash Looming
- Thread starter ChooseLiberty
- Start date
Yeah, and gold and silver should benefit as well. Crude, too.
DFF
Banned
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They may be hoarding cash.
Original_Intent
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DJIA getting pummelled.
I had Unemployment Insurance on my Citi Car Loan.. I just filed a claim.. My claim must have crashed Citi and caused the circuit breaker to suspend trading for 5 minutes.. Told ya.. I am the one who creates these trends..
HOLLYWOOD
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this: http://www.marketwatch.com/story/us...-job-worries-2010-06-29-102500?dist=countdown
Economic Report
June 29, 2010, 11:12 a.m. EDT · Recommend (2) · Post:
[h1]U.S. consumer confidence plummets on job worries[/h1]
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) -- U.S. consumers are increasingly worried about jobs and the economy, the Conference Board said Tuesday, as it reported that its consumer confidence index plummeted to 52.9 in June -- the lowest level since March -- from a downwardly revised 62.7 in May.
"Increasing uncertainty and apprehension about the future state of the economy and labor market, no doubt a result of the recent slowdown in job growth, are the primary reasons for the sharp reversal in confidence," said Lynn Franco, director of Conference Board's consumer research center. "Until the pace of job growth picks up, consumer confidence is not likely to pick up."
Earlier this month the government reported that nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but most of the new jobs were temporary jobs at the U.S. Census, with very weak private-sector hiring. The government's next payrolls report is due out Friday, with economists polled by MarketWatch looking for a June contraction of 130,000.
[h3]Is the U.S. heading for a double dip?[/h3]
There are troubling signs about the U.S. economy, but it's not in double-dip territory and shouldn't be for at least the next few months.
Economists had expected a June reading for consumer confidence of 62.8. The Conference Board's prior reading for May was 63.3.
Consumers' view on the present situation and their expectations deteriorated in June, with both reaching the lowest levels since March, according to the Conference Board. Their view on the present situation fell to 25.5 in June from 29.8 in May, while the expectations barometer declined to 71.2 from 84.6.
Respondents saying current business conditions are "good" fell to 8% in June from 9.7% in May, while those saying jobs are "hard to get" rose to 44.8% from 43.9%.
Respondents saying they expect business conditions to be worse in six months rose to 14.9% in June from 11.9% in May, while the percentage of those expecting better business conditions fell to 17.2% from 22.8%. Those expecting fewer jobs rose to 20.8% from 17.8%, while those expecting more jobs fell to 16% from 20.2%.
Double dip? as in I'm so sick and friggin tired of hearing about a double dip.
Just when did we come out of the first one?
Double Dip Depression? No just a Deeper Depression
Economic Report
June 29, 2010, 11:12 a.m. EDT · Recommend (2) · Post:
[h1]U.S. consumer confidence plummets on job worries[/h1]
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) -- U.S. consumers are increasingly worried about jobs and the economy, the Conference Board said Tuesday, as it reported that its consumer confidence index plummeted to 52.9 in June -- the lowest level since March -- from a downwardly revised 62.7 in May.
"Increasing uncertainty and apprehension about the future state of the economy and labor market, no doubt a result of the recent slowdown in job growth, are the primary reasons for the sharp reversal in confidence," said Lynn Franco, director of Conference Board's consumer research center. "Until the pace of job growth picks up, consumer confidence is not likely to pick up."
Earlier this month the government reported that nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but most of the new jobs were temporary jobs at the U.S. Census, with very weak private-sector hiring. The government's next payrolls report is due out Friday, with economists polled by MarketWatch looking for a June contraction of 130,000.
[h3]Is the U.S. heading for a double dip?[/h3]
There are troubling signs about the U.S. economy, but it's not in double-dip territory and shouldn't be for at least the next few months.
Economists had expected a June reading for consumer confidence of 62.8. The Conference Board's prior reading for May was 63.3.
Consumers' view on the present situation and their expectations deteriorated in June, with both reaching the lowest levels since March, according to the Conference Board. Their view on the present situation fell to 25.5 in June from 29.8 in May, while the expectations barometer declined to 71.2 from 84.6.
Respondents saying current business conditions are "good" fell to 8% in June from 9.7% in May, while those saying jobs are "hard to get" rose to 44.8% from 43.9%.
Respondents saying they expect business conditions to be worse in six months rose to 14.9% in June from 11.9% in May, while the percentage of those expecting better business conditions fell to 17.2% from 22.8%. Those expecting fewer jobs rose to 20.8% from 17.8%, while those expecting more jobs fell to 16% from 20.2%.
Double dip? as in I'm so sick and friggin tired of hearing about a double dip.
Just when did we come out of the first one?
Double Dip Depression? No just a Deeper Depression
Last edited:
H,
You think sentiment is bad now, wait until this starts making news. Treasury Daily Tax Receipts.
Net 185,000M compared to 259,000M last year with one day left. They are so screwed unless they do another shell game.
https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=10062900.pdf
I want a record here, before the monthly statement.
You think sentiment is bad now, wait until this starts making news. Treasury Daily Tax Receipts.
Net 185,000M compared to 259,000M last year with one day left. They are so screwed unless they do another shell game.
https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=10062900.pdf
I want a record here, before the monthly statement.
HOLLYWOOD
Member
- Joined
- Nov 29, 2007
- Messages
- 22,314
There's some weird stuff on some of the numbers with debt and intra debt holdings.
but here's some extreme data points:
Unemployment Insurance Benefits
Today: $739 Million
June 2010: $13+ BILLION <====== How can Unemployment #'s go down when Benefit Costs are going UP!
FY2010 to Date: $120.512 BILLION
It's getting worst much worst in the amount of money for the unemployed is going up.
Minerals Management Service aka Bureau of Ocean Energy Management, Regulation and Enforcement
Today: $228 Million <=== They spent a $1/4 a Billion today!
June 2010: $231 Million
FY 2010 to Date: $751 Million
FOOD STAMPS/NUTRITION up 35% from June 2008
Unemployment Outlays Increase 382% from FYTD 2008 compared to FYTD 2010 (OCT1 through JUN 30th)
Last edited:
HOLLYWOOD
Member
- Joined
- Nov 29, 2007
- Messages
- 22,314
Yah don't have this happening in a recovery:
http://www.layoffwatch.com/2010/06/prospective-budget-czar-has-bad-news-about-economy/
Prospective Budget Czar Has Bad News About Economy (Another Keynesian Liberal)
UC Berkley Economics Professor and shortlister on the Obama budget czar list, Laura Tyson, says the nation’s jobs prognosis is “grim.” She predicts continuing high levels of unemployment for well into 2011.
Based on Tyson’s calculations, the current gap between the number of jobs being created and the number of unemployed is roughly 11 million. At the current rate of jobs expansion, it could take anywhere from 4 to 11 years to get back to pre-recession levels.
She also argues that government spending, while adding to the deficit, is crucial to creating jobs. Particularly she pointed to long-term infrastructure development – which includes education, spending on scientific development and transportation – as crucial for both the country’s future as well as its economic bounce back.
Unfortunately, the word “stimulus” in any permutation has become anathema to law makers and their constituents ears. It will be interesting to see what the economist tries to implement should she be appointed to the President’s task force.
[h1]Microsoft puts brakes on Kin mobile phone effort[/h1]
By John Letzing, MarketWatch
SAN FRANCISCO (MarketWatch) -- Microsoft Corp. said Wednesday that it will shut down its Kin mobile-device effort, an ambitious move unveiled only about two months ago that was meant to target younger cellphone users.
In a statement, Microsoft announced that it will not ship the Kin in Europe later this year, as had been originally planned, and that it will shift employees working on the device over to its Windows Phone 7 software team.
The Kin phones are manufactured by Sharp Corporation and resemble models previously developed by Danger Inc., a company that Microsoft acquired in 2008.
A Quick Look at the PILE of Propaganda VS. Bad Economic News
*The number of U.S. home foreclosures set a record for the second consecutive month in May. How can the U.S. housing industry be recovering when the number of Americans being foreclosed on continues to set all-time records?
*As of March, U.S. banks had an inventory of approximately 1.1 million foreclosed homes, up 20 percent from a year ago. Instead of working their way through the huge backlog of unsold homes, U.S. banks continue to pile up a massive inventory of foreclosed homes at a staggering pace.
*According to figures from the U.S. Commerce Department, housing starts in the United States fell 10 percent in May, the biggest decline since March 2009. The data also revealed that single-family home starts suffered the biggest drop since 1991. There is already a massive glut of unsold homes on the market, so builders simply do not think it is profitable to build many new homes right now.
*Officials now tell us that the cost of "fixing" Fannie Mae and Freddie Mac, the government-backed mortgage companies that last year bought or guaranteed the vast majority of all U.S. home loans, will be at least $160 billion and could grow as high as $1 trillion. The twin pillars of the U.S. mortgage industry have become financial black holes that the U.S. government endlessly pours massive amounts of cash into. That is not a good sign.
*Fannie Mae and Freddie Mac are to be delisted from the New York Stock Exchange because their stock prices have been trading under $1 per share for more than 30 trading days. The truth is that Fannie Mae and Freddie Mac would have completely imploded by now if the U.S. government had not decided to step in and bail them out.
*The average duration of unemployment in the United States has risen to an all-time high. Not only are a ton of Americans out of work, they can't find work for a very, very long time once they are unemployed.
*For Americans younger than 25 years of age, the unemployment rate is 18.8%. But even those young Americans that can find employment often find themselves working in very low paying service jobs.
*Federal Reserve Fucktard Ben Bernanke says that the U.S. unemployment rate is likely to stay "high for a while".(YEAH, RIGHT, Hey You Lying Scumbag... you're not fooling the people anymore! Considering how badly Bernanke has been doing his job, it would be really nice if we could add just one more person to the unemployment rolls.
*According to one new study, approximately 21 percent of children in the United States are living below the poverty line in 2010 - the highest rate in 20 years. There are hundreds of thousands of American children on the streets each night, and yet we continue to insist that we are the greatest country in the world.
*For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011. How many tens of millions of Americans have to be on food stamps before we officially say that we are in a depression?
*According to the Wall Street Journal, the debates have begun inside the Fed about what it should do in the event of a "double dip" recession. If they are already debating what to do during the next economic downturn that means it is probably a foregone conclusion.
*If you were alive when Christ was born and spent one million dollars every single day from then until now, you still would not have spent one trillion dollars by now. But somehow the U.S. government is now over 13 trillion dollars in debt. According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015.
*It is being projected that the U.S. national debt will grow to surpass our gross domestic product in 2012. Needless to say, that is a really, really bad sign.
*The total of all government, corporate and consumer debt in the United States is now equal to 360 percent of GDP. At no point during the Great Depression did we ever even come close to such a figure.
But things may be even worse in Europe right now. Unfortunately for the U.S., when Europe experiences an economic collapse it will devastate the American economy as well.
The economic news coming out of Europe extremely alarming....
*George Soros says that a European recession next year is "almost inevitable". Considering how much access George Soros has to inside information, the fact that he is so pessimistic about Europe is a very troubling thing indeed.
*A report by the Bank for International Settlements says that the debt crisis hitting southern Europe resembles the 2007 subprime mortgage crisis. Is history about to repeat itself?
*Moody'shas downgraded Greece government bond ratings into junk territory, citing the risks inherent in the rescue package that the rest of the eurozone has put together for them. Soon Spain, Portugal, Italy, Ireland, Romania and a number of other European nations could have their debt downgraded as well.
*The U.K.'s new Office for Budget Responsibility has announced that the U.K. economy was more damaged by the recent financial crisis than previously admitted, and that it may never fully recover. But the same could be said for many other nations across the world as well.
*21.5% of all working-age people in the U.K. do not have a job. It seems like almost every country has a shortage of jobs these days.
*New U.K. Prime Minister David Cameron is warning that Britain's "whole way of life" is about to be significantly disrupted for years by the most drastic public spending cuts in a generation. In fact, severe austerity measures being implemented all across Europe could make this one of the most "interesting" European summers in ages.
*Spanish banks are borrowing record amounts of money from the European Central Bank as Spain's financial institutions are finding it increasingly difficult to acquire funds in international capital markets. But the truth is that it isn't just Spanish banks that are facing a liquidity squeeze - the entire world is heading for a massive credit crunch.
But the biggest piece of bad economic news of all is the nightmare that is unfolding in the Gulf of Mexico. There is no way that the southeast United States is going to be the same after this. Hordes of businesses and entire industries have been literally destroyed over the past two months. 80,000 Energy Jobs... GONE! The total economic damage from this unprecedented disaster will easily run into the hundreds of billions of dollars. This is an economic blow that the teetering U.S. economy simply could not afford right now. Once the oil finally stops flowing the crisis will not be over. In fact, the aftermath from this oil spill could end up echoing for decades.
So are things bad out there? Yes, things are incredibly bad and they are about to get a whole lot worse.
There are so many cancers eating away at the U.S. economy.
What we are dealing with is not "just another recession" or "just another economic downturn". What we are witnessing is the fundamental unraveling of the monstrous debt spiral that our economy is based upon. Any economy that is built on a foundation of debt and FIAT paper money is inevitably doomed.
So yes, the bad economic news is going to continue. Things may get better for a while here and there(GOVERNMENT/BANKS), but the truth is that we are caught in a long-term spiral of economic decline from which there is no escape.
http://www.layoffwatch.com/2010/06/prospective-budget-czar-has-bad-news-about-economy/
Prospective Budget Czar Has Bad News About Economy (Another Keynesian Liberal)
UC Berkley Economics Professor and shortlister on the Obama budget czar list, Laura Tyson, says the nation’s jobs prognosis is “grim.” She predicts continuing high levels of unemployment for well into 2011.
Based on Tyson’s calculations, the current gap between the number of jobs being created and the number of unemployed is roughly 11 million. At the current rate of jobs expansion, it could take anywhere from 4 to 11 years to get back to pre-recession levels.
She also argues that government spending, while adding to the deficit, is crucial to creating jobs. Particularly she pointed to long-term infrastructure development – which includes education, spending on scientific development and transportation – as crucial for both the country’s future as well as its economic bounce back.
Unfortunately, the word “stimulus” in any permutation has become anathema to law makers and their constituents ears. It will be interesting to see what the economist tries to implement should she be appointed to the President’s task force.
[h1]Microsoft puts brakes on Kin mobile phone effort[/h1]
By John Letzing, MarketWatch
SAN FRANCISCO (MarketWatch) -- Microsoft Corp. said Wednesday that it will shut down its Kin mobile-device effort, an ambitious move unveiled only about two months ago that was meant to target younger cellphone users.
In a statement, Microsoft announced that it will not ship the Kin in Europe later this year, as had been originally planned, and that it will shift employees working on the device over to its Windows Phone 7 software team.
The Kin phones are manufactured by Sharp Corporation and resemble models previously developed by Danger Inc., a company that Microsoft acquired in 2008.
A Quick Look at the PILE of Propaganda VS. Bad Economic News
*The number of U.S. home foreclosures set a record for the second consecutive month in May. How can the U.S. housing industry be recovering when the number of Americans being foreclosed on continues to set all-time records?
*As of March, U.S. banks had an inventory of approximately 1.1 million foreclosed homes, up 20 percent from a year ago. Instead of working their way through the huge backlog of unsold homes, U.S. banks continue to pile up a massive inventory of foreclosed homes at a staggering pace.
*According to figures from the U.S. Commerce Department, housing starts in the United States fell 10 percent in May, the biggest decline since March 2009. The data also revealed that single-family home starts suffered the biggest drop since 1991. There is already a massive glut of unsold homes on the market, so builders simply do not think it is profitable to build many new homes right now.
*Officials now tell us that the cost of "fixing" Fannie Mae and Freddie Mac, the government-backed mortgage companies that last year bought or guaranteed the vast majority of all U.S. home loans, will be at least $160 billion and could grow as high as $1 trillion. The twin pillars of the U.S. mortgage industry have become financial black holes that the U.S. government endlessly pours massive amounts of cash into. That is not a good sign.
*Fannie Mae and Freddie Mac are to be delisted from the New York Stock Exchange because their stock prices have been trading under $1 per share for more than 30 trading days. The truth is that Fannie Mae and Freddie Mac would have completely imploded by now if the U.S. government had not decided to step in and bail them out.
*The average duration of unemployment in the United States has risen to an all-time high. Not only are a ton of Americans out of work, they can't find work for a very, very long time once they are unemployed.
*For Americans younger than 25 years of age, the unemployment rate is 18.8%. But even those young Americans that can find employment often find themselves working in very low paying service jobs.
*Federal Reserve Fucktard Ben Bernanke says that the U.S. unemployment rate is likely to stay "high for a while".(YEAH, RIGHT, Hey You Lying Scumbag... you're not fooling the people anymore! Considering how badly Bernanke has been doing his job, it would be really nice if we could add just one more person to the unemployment rolls.
*According to one new study, approximately 21 percent of children in the United States are living below the poverty line in 2010 - the highest rate in 20 years. There are hundreds of thousands of American children on the streets each night, and yet we continue to insist that we are the greatest country in the world.
*For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011. How many tens of millions of Americans have to be on food stamps before we officially say that we are in a depression?
*According to the Wall Street Journal, the debates have begun inside the Fed about what it should do in the event of a "double dip" recession. If they are already debating what to do during the next economic downturn that means it is probably a foregone conclusion.
*If you were alive when Christ was born and spent one million dollars every single day from then until now, you still would not have spent one trillion dollars by now. But somehow the U.S. government is now over 13 trillion dollars in debt. According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015.
*It is being projected that the U.S. national debt will grow to surpass our gross domestic product in 2012. Needless to say, that is a really, really bad sign.
*The total of all government, corporate and consumer debt in the United States is now equal to 360 percent of GDP. At no point during the Great Depression did we ever even come close to such a figure.
But things may be even worse in Europe right now. Unfortunately for the U.S., when Europe experiences an economic collapse it will devastate the American economy as well.
The economic news coming out of Europe extremely alarming....
*George Soros says that a European recession next year is "almost inevitable". Considering how much access George Soros has to inside information, the fact that he is so pessimistic about Europe is a very troubling thing indeed.
*A report by the Bank for International Settlements says that the debt crisis hitting southern Europe resembles the 2007 subprime mortgage crisis. Is history about to repeat itself?
*Moody'shas downgraded Greece government bond ratings into junk territory, citing the risks inherent in the rescue package that the rest of the eurozone has put together for them. Soon Spain, Portugal, Italy, Ireland, Romania and a number of other European nations could have their debt downgraded as well.
*The U.K.'s new Office for Budget Responsibility has announced that the U.K. economy was more damaged by the recent financial crisis than previously admitted, and that it may never fully recover. But the same could be said for many other nations across the world as well.
*21.5% of all working-age people in the U.K. do not have a job. It seems like almost every country has a shortage of jobs these days.
*New U.K. Prime Minister David Cameron is warning that Britain's "whole way of life" is about to be significantly disrupted for years by the most drastic public spending cuts in a generation. In fact, severe austerity measures being implemented all across Europe could make this one of the most "interesting" European summers in ages.
*Spanish banks are borrowing record amounts of money from the European Central Bank as Spain's financial institutions are finding it increasingly difficult to acquire funds in international capital markets. But the truth is that it isn't just Spanish banks that are facing a liquidity squeeze - the entire world is heading for a massive credit crunch.
But the biggest piece of bad economic news of all is the nightmare that is unfolding in the Gulf of Mexico. There is no way that the southeast United States is going to be the same after this. Hordes of businesses and entire industries have been literally destroyed over the past two months. 80,000 Energy Jobs... GONE! The total economic damage from this unprecedented disaster will easily run into the hundreds of billions of dollars. This is an economic blow that the teetering U.S. economy simply could not afford right now. Once the oil finally stops flowing the crisis will not be over. In fact, the aftermath from this oil spill could end up echoing for decades.
So are things bad out there? Yes, things are incredibly bad and they are about to get a whole lot worse.
There are so many cancers eating away at the U.S. economy.
What we are dealing with is not "just another recession" or "just another economic downturn". What we are witnessing is the fundamental unraveling of the monstrous debt spiral that our economy is based upon. Any economy that is built on a foundation of debt and FIAT paper money is inevitably doomed.
So yes, the bad economic news is going to continue. Things may get better for a while here and there(GOVERNMENT/BANKS), but the truth is that we are caught in a long-term spiral of economic decline from which there is no escape.
Last edited:
H,
BRAVO for the post. So true on all your points.
"Salinas Valley Memorial Hospital to cut work force. 138 jobs."
Romania to cut 54,000 jobs. Do ya just think they will be taking trips here?
Blockbuster stock halted in trading today when they didn't vote for the plan to survive with a reverse split etc.
City of Baltimore forces 100 to retire.
Illinois approves budget that ignores 4 Billion in pension benefits they owe.
BRAVO for the post. So true on all your points.
"Salinas Valley Memorial Hospital to cut work force. 138 jobs."
Romania to cut 54,000 jobs. Do ya just think they will be taking trips here?
Blockbuster stock halted in trading today when they didn't vote for the plan to survive with a reverse split etc.
City of Baltimore forces 100 to retire.
Illinois approves budget that ignores 4 Billion in pension benefits they owe.
HOLLYWOOD
Member
- Joined
- Nov 29, 2007
- Messages
- 22,314
Here's another way government manipulates the masses and media...
http://www.marketwatch.com/story/planned-layoffs-fall-to-fewest-in-a-decade-2010-07-01
[h1]First-half layoff plans at slowest in 10 years: Challenger Gray[/h1]
[h2]Data read to mean employers not girding for a double dip[/h2]
WASHINGTON (MarketWatch) -- Large U.S. employers reduced their planned layoffs in the first half of 2010 to the slowest pace in a decade, according to a count released Thursday by outplacement firm Challenger Gray & Christmas.
In June, planned job reductions were essentially unchanged from May at 39,358, which was 47% less than in June 2009. It was the third straight month in which there were fewer than 40,000 layoffs announced.
[h3]Bonuses Coming For U.S. Trade[/h3]
Very quietly, the U.S. has moved to broaden its trade ties, with deals looking likely with Russia and South Korea, says WSJ's David Wessel.
For the second quarter of the year, job-reduction announcements were down 63% to 116,494, the fewest since the second quarter of 2000. And for the first six months of the year, job-reduction announcements were down 67% to 297,677, the fewest since the first half of 2000.
Now here's the Kicker:
"...In all of 2009, the government counted 27.7 million layoffs. By contrast, Challenger counted 1.3 million layoffs that were announced by companies in 2009..."
Pretty much puts a halt to the BS headline on "Slowest Layoffs" how about how many companies have gone out of business, merged with competition to survive, and/or not divulging the poor state of their companies?
There's only so much blood in the patient!
http://www.marketwatch.com/story/planned-layoffs-fall-to-fewest-in-a-decade-2010-07-01
[h1]First-half layoff plans at slowest in 10 years: Challenger Gray[/h1]
[h2]Data read to mean employers not girding for a double dip[/h2]
WASHINGTON (MarketWatch) -- Large U.S. employers reduced their planned layoffs in the first half of 2010 to the slowest pace in a decade, according to a count released Thursday by outplacement firm Challenger Gray & Christmas.
In June, planned job reductions were essentially unchanged from May at 39,358, which was 47% less than in June 2009. It was the third straight month in which there were fewer than 40,000 layoffs announced.
[h3]Bonuses Coming For U.S. Trade[/h3]
Very quietly, the U.S. has moved to broaden its trade ties, with deals looking likely with Russia and South Korea, says WSJ's David Wessel.
For the second quarter of the year, job-reduction announcements were down 63% to 116,494, the fewest since the second quarter of 2000. And for the first six months of the year, job-reduction announcements were down 67% to 297,677, the fewest since the first half of 2000.
Now here's the Kicker:
"...In all of 2009, the government counted 27.7 million layoffs. By contrast, Challenger counted 1.3 million layoffs that were announced by companies in 2009..."
Pretty much puts a halt to the BS headline on "Slowest Layoffs" how about how many companies have gone out of business, merged with competition to survive, and/or not divulging the poor state of their companies?
There's only so much blood in the patient!
Last edited:
More cities and towns likely to follow the same path shortly,
"Central Falls Rhode Island - Bankrupt - Goes Into Receivership"
They have 4M to pay for pensions and have 35M in pension liabilities. I am guessing some people might be working longer.
Star Kist is laying off more workers. Charlie is said to be very happy.
Arnie telling the controller to pay min wage to State workers as no budget has been approved yet. Controller says no again.
I am seeing a big increase in bars, movies and eating places closing every day. If 1,300,000 stop getting unemployment checks, I expect that closings will increase along with credit card defaults rising and more foreclosures. It doesn't take long once the last checks are spent.
"Central Falls Rhode Island - Bankrupt - Goes Into Receivership"
They have 4M to pay for pensions and have 35M in pension liabilities. I am guessing some people might be working longer.
Star Kist is laying off more workers. Charlie is said to be very happy.
Arnie telling the controller to pay min wage to State workers as no budget has been approved yet. Controller says no again.
I am seeing a big increase in bars, movies and eating places closing every day. If 1,300,000 stop getting unemployment checks, I expect that closings will increase along with credit card defaults rising and more foreclosures. It doesn't take long once the last checks are spent.
Digest this amazing improvement.
"Employment Situation
Released on 7/2/2010 8:30:00 AM For Jun, 2010
Consensus Consensus Range Actual
Nonfarm Payrolls - M/M change -125,000 -200,000 to 0 -125,000
Private Payrolls - M/M change 105,000 50,000 to 200,000 83,000
Unemployment Rate - Level 9.8 % 9.6 % to 9.9 % 9.5 %
Average Hourly Earnings - M/M change 0.1 % 0.1 % to 0.2 % -0.1 %
Av Workweek - All Employees 34.2 hrs 34.2 hrs to 34.3 hrs 34.1 hrs"
Private payrolls drop and amazingly the Unemployment rate drops to 9.5 percent when we know they are laying off census workers. Yep, I buy that, sure I do.
Hourly earnings drop-not good.
Av Workweek drops-not good.
Non Farm Payrolls no change-not good.
"Employment Situation
Released on 7/2/2010 8:30:00 AM For Jun, 2010
Consensus Consensus Range Actual
Nonfarm Payrolls - M/M change -125,000 -200,000 to 0 -125,000
Private Payrolls - M/M change 105,000 50,000 to 200,000 83,000
Unemployment Rate - Level 9.8 % 9.6 % to 9.9 % 9.5 %
Average Hourly Earnings - M/M change 0.1 % 0.1 % to 0.2 % -0.1 %
Av Workweek - All Employees 34.2 hrs 34.2 hrs to 34.3 hrs 34.1 hrs"
Private payrolls drop and amazingly the Unemployment rate drops to 9.5 percent when we know they are laying off census workers. Yep, I buy that, sure I do.
Hourly earnings drop-not good.
Av Workweek drops-not good.
Non Farm Payrolls no change-not good.
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