Stocks: Market Crash Looming

[Original_Intent]

Found this "The unemployment rate rose from 9.7 percent in March to 9.9 percent in April, mainly because 805,000 jobseekers - perhaps feeling better about their prospects - resumed their searches for work.

Many economists have predicted the unemployment rate would rise as people come back into the labor force. The jobless rate hit 10.1 percent in October, a 26-year high. The rate could climb back up to the 10 percent range in the months ahead, Naroff said. "

from:http://www.cbsnews.com/stories/2010/05/07/business/main6468356.shtml

How is that working if it is based on unemployment claims??? WTH???

The only thing I can figure is that a lot of those census workers are people who had run out of unemployment. So they added to the number of jobs, and yet there were still more people filing for unemployment (just starting unemployment) than those that were taken off the unemployment rolls by geting a job. That's the ONLY scenario I have been able to think of that makes sense.

And if that is the case it is a one time "stimulus" that the market reads as a green shoot at their peril. Those census workers are an unemployment overhang that is going to hit the official numbers as soon as the census is completed (how long does the census take, anyway?)

 

[HOLLYWOOD]

Found this "The unemployment rate rose from 9.7 percent in March to 9.9 percent in April, mainly because 805,000 jobseekers - perhaps feeling better about their prospects - resumed their searches for work.

Many economists have predicted the unemployment rate would rise as people come back into the labor force. The jobless rate hit 10.1 percent in October, a 26-year high. The rate could climb back up to the 10 percent range in the months ahead, Naroff said. "

from:[URL]http://www.cbsnews.com/stories/2010/05/07/business/main6468356.shtml[/URL]

How is that working if it is based on unemployment claims??? WTH???

always look at TAX receipts collected and how much money is spent by government(s). Those are the true indicators... we have the Japanese economy, totally stimulated/propped-up by the government. BTW, Japan yesterday added 2 Trillion Yen into the system. Last year 2009 was a disaster for the first 2 quarters... this year, Income Tax receipts are down from last year, so things are worst. Government can fudge the numbers by any WizBang pendulum formals/models they wish... show me the money collected, borrowed, and spent, for the truth

US Treasury statements / reports

Daily: [URL]http://www.fms.treas.gov/dts/index.html[/URL]

Monthly: [URL]http://www.fms.treas.gov/Results.html?cx=014540195463098743471:a6dxixgppgu&cof=FORID%3A11&q=Monthly[/URL]

 

[audienceofone]

Did sarge have a heart attack?
Really hope his blood pressure did not get to him.....
Where u at?

 

[Pants]

unemployment

There could have been issues where people were offered early retirement packages, 6 to 12 month severance packages.. It probably took awhile for some to get to the point to where they can collect benefits.

 

[seeker4sho]

Listening to the media this morning this 9.9% unemployment rate is healthy.. It shows more American People are LOOKING for work.. People who gave up looking for work are now looking again for work.. We are in recovery... But yet we were constantly reminded 5 years ago how 4% unemployment during Bush was bad news.

Yep, it is amazing how the media can spin the numbers. In December of last year the unemployment number was reported as 9.7 percent, down from 10 percent. President Obama praised the .3 percent drop as a sure sign that all was well on the economic front. Now, five months later, the unemployment number has gone up .2 percent to 9.9 percent and the MSM is reporting it as "happy Days Are Here Again". Does the MSM and government really think we the people are that stupid (rhetorical question, I know the answer)?

 

[Cowlesy]

BREAKING: Unusual price action continued today as the Dow closed above 10.5k support on humongous volume after being down almost 1000 points for the day. There's more to this than the MSM will tell you. One official story is a "glitch" on the SPY to sell 16 Billion vs. 16 Million which is complete CNBS.

Traders with a 1000 mile stare in their eyes at the scene commented - "Gulp."

BREAKING: Unusual price action continued this morning as the Dow Futures rocketed above 10.5k support on humongous volume after the average closed being down almost 170 points for on Friday. There's more to this than the Gloom, Boom and Doomers will tell you. One official story is the PPT is artificially propping up the market, they say.

Traders with huge grins and twinkles in their eyes at the scene commented - "LOL!."

 

[MsDoodahs]

ugh.......

 

[Inflation]

zerohedge is blocked at my work

The interweb interprets censorship as damage, and routes around it.

http://proxify.com/

http://zend2.com

 

[tmosley]

BREAKING: Unusual price action continued this morning as the Dow Futures rocketed above 10.5k support on humongous volume after the average closed being down almost 170 points for on Friday. There's more to this than the Gloom, Boom and Doomers will tell you. One official story is the PPT is artificially propping up the market, they say.

Traders with huge grins and twinkles in their eyes at the scene commented - "LOL!."

Right, I'm sure it has nothing to do with the hundreds of billions of Euros that are being printed as we speak (it always finds its way into the stock markets first). I'm also sure it has nothing to do with the fact that the entirety of the Western World is now firmly committed to currency debasement.

 

[puppetmaster]

Right, I'm sure it has nothing to do with the hundreds of billions of Euros that are being printed as we speak (it always finds its way into the stock markets first). I'm also sure it has nothing to do with the fact that the entirety of the Western World is now firmly committed to currency debasement.

guess if all global currency is worthless then it won't matter as long as it is global then buying power remains the same. Then they will take down countries one by one....and ours will be one the list. This is the only way for the world powers to gain control of us.

 

[HOLLYWOOD]

How many times have we said it's a "Race To The Bottom" on all these FIAT currencies?

It's all counterfeiting... why stop at a TRILLION FED? Let's do a $10 TRILLION or $100 TRILLION BAILOUT. Buy every government in the world a palace made of GOLD and pay increases!

U.S. EXPOSURE TO EU BAILOUT

IMF providing $322 Billion loan for the EU bailout
U.S. Funds 20% of IMF budget
FEDERAL RESERVE "uncapped" $$$ Swaps for Foreign Central Banks until January 2011
THE FED to lend $ in Exchange fir EUROS
Foreign Central Banks then lend $$$ to European bankers needing U,S, $$$


Europe has no central fiscal authority
"Where are Europe's demand for fiscal tightening before bailout?" Wall St Economists
THE FED's 2008 $$$ Swaps lines already ignited demands for AUDIT of US Central Bank <=== aka FOREIGN TARP I
Europe's paln to yank voting rights from spendthrift eurozone members "slap on the wrist"
Solgan of Trade Unions in Greece protests: "We Do Not Recognize our Debt"

Ladies and Gentlmen...

YOUR G-7/G-8/G-20 nations meetings behind closed doors and armed protection creating the largest Counterfeiting & Racketeering scheme in the History of Planet EARTH

 

[MsDoodahs]

Fed just announced it is reopening the swap lines with Japan

 

[Cowlesy]

Right, I'm sure it has nothing to do with the hundreds of billions of Euros that are being printed as we speak (it always finds its way into the stock markets first). I'm also sure it has nothing to do with the fact that the entirety of the Western World is now firmly committed to currency debasement.

So Bitter!

Why is it such a stretch to consider that the Central Bankers and Finance Ministers who just announced this $1 Trillion bailout of Europe are, in fact, the Plunge Protection Team?

 

[crushingstep7]

Does anyone else think the recent dip in the stock market was a pull by Obama and associates to push this Financial Regulatory "Reform" stuff? Weird timing, and of course - Citigroup's fat (stimulus grabbing) fingers are to blame. If I understand it correctly...

 

[tmosley]

So Bitter!

Why is it such a stretch to consider that the Central Bankers and Finance Ministers who just announced this $1 Trillion bailout of Europe are, in fact, the Plunge Protection Team?

The Working Group on Financial Markets is well defined: http://en.wikipedia.org/wiki/Plunge_Protection_Team

You should stop thinking that the posters on this forum are insane. It's really annoying.

 

[Cowlesy]

You should stop thinking that the posters on this forum are insane. It's really annoying.

I didn't know I was. Thanks for telling me what I am thinking.

 

[Dforkus]

Does anyone else think the recent dip in the stock market was a pull by Obama and associates to push this Financial Regulatory "Reform" stuff? Weird timing, and of course - Citigroup's fat (stimulus grabbing) fingers are to blame. If I understand it correctly...

A "pull" by Obama and associates? I'm not sure how one can immediately draw such a conclusion, other than the "well, I wouldn't be surprised if its true" type of pseudologic...

"What does it all mean"- heck if I know, but I do know better than to try assess reality, in the absence or any real data, from a bunch of real, implied and/or imagined motivations of folks in circles of power far removed from my daily orbit...

You should stop thinking that the posters on this forum are insane. It's really annoying.

Not a psychiatrist, but delusions of grandeur, is a defined psychiatric symptom.
The undercurrent of
When I'm right - " How could those fools have missed this!"
When I'm wrong - "Wharrbl!!! manIPuLATIon!!!!!!" is a form of delusion of grandeur, with a dash of outright parnoia...

When you have people doing this, assessing secret motivations of people they've never met, inventing an endless stream of conspiracies in lieu of EVER modifying their world-view to reflect reality, to reflect that they too are human beings that can be incredibly wrong about things, it's hard NOT to think some folks are a little funny in the head..

 

[tmosley]

Excellent, more people telling us we're crazy.

Guess the DoJ is a bunch of crazy people too. As is the CFTC. Bunch of fucking lunatics.

I mean, jeez, never mind the evidence, and the predictions of manipulation, the rotten methodologies that all skew the the results of every economic indicator under the sun.

I guess there was no manipulation in the housing market, just a failure of capitalism. Yes, yes, let's go down THAT road and see what fresh hell that brings us.

 

[georgiaboy]

fresh hell

new one for me, lol'd.

 

[Cowlesy]

Excellent, more people telling us we're crazy.

Guess the DoJ is a bunch of crazy people too. As is the CFTC. Bunch of fucking lunatics.

I mean, jeez, never mind the evidence, and the predictions of manipulation, the rotten methodologies that all skew the the results of every economic indicator under the sun.

I guess there was no manipulation in the housing market, just a failure of capitalism. Yes, yes, let's go down THAT road and see what fresh hell that brings us.

First off, I liked ChooseLiberty's post, so I quoted it and made a post based on what was happening this morning. It's called Humor, tmosley.

Secondly, there are people who are saying the house is on fire all the time on the forum. There's nothing wrong with that, and in fact I am glad people aggregate the data, on the potential of market manipulation in the metals markets. However, since this place started in 2007, we see the same claims over and over again. Perhaps someday something will happen, but there are some investors who are willing to take some risk that in fact tomorrow will not be the last day to earn gains on equities/fixed incomes.

Third, this thread is valuable because it aggregates lots of great stories about the real economy. Sarge has done yeoman's work on it. No one is complaining about that, however it is important to look at firings AND hirings. It's important to look at how credit spreads have contracted since September 2008. It's important to listen to conference calls were businesses are feeling bullish and looking to expand.

No one is stopping you for preparing for the apocalypse, but I also get a few complaints that Economics & Sound Money is turning into a metal-bug forum. Cashing in 401(K)s at huge penalties to turn around and buy PMs at their highest nominal value to date scares a lot of people. Fact of the matter is, people should not be taking advice from strangers on the internet (me or you or anyone else).