Forum > View Topic
by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
10 to 15k part time summer jobs, mostly foreign students / domestic too!
the rest based on summer season sectors hiring right now would be
Trade, transportation, and utilities
Construction
Leisure and hospitality
Utilities
Information
Education and health care were expected but I heard that health care was pretty disappointing
this is what come to mind I did not go through the survey details on which particular private jobs added, but I'm waiting on my friend to update and will be dicussing this in his blog on those fine details later over the weekend, but this is what I managed to get out of him when we spoke earlier this morning.
One reason we also noted that the average hourly and weekly wage raised and that's due to the fact that Over-time is also on the rise
Firm's stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment
The brokerage firm that's faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP.
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter.
(snippet)
Others also sold stock
Other asset management firms also sold huge blocks of BP stock in the first quarter -- but their sales were a fraction of Goldman's. Wachovia, which is owned by Wells Fargo, sold 2,667,419 shares; UBS, the Swiss bank, sold 2,125,566 shares.
Wachovia and UBS also sold much larger percentages of their BP stock, at 98 percently and 97 percent respectively.
Sony: Help Wanted, No UNEMPLOYED CANDIDATES Will Be Considered AT ALL!
ORLANDO, Fla. -- Job hunters are facing a new trend: businesses asking recruitment companies to keep unemployed people out of their job pools. http://www.clickorlando.com/jobs/23752759/detail.html
VIDEO: Ad Angers Job Seeker
SURVEY: What Do You Think?
Peter May, of Atlanta, said he was hoping Orlando-based recruiter "The People Place" would help him find a job with Sony Ericsson. The company is moving its headquarters to Buckhead, which is located outside Atlanta.
May said he was mortified when he read the message on the website. In all caps, and bold type, it said, "No unemployed candidates will be considered at all."
Sony Ericcson is supposed to bring 180 jobs to Buckhead, and was lured there with the prospect of a $4 million in state tax credits. But May said if the company is refusing to hire the unemployed, that deal should be rescinde
During a phone conversation with Atlanta station WXIA, Howard Lawson, of "The People Place," refused to discuss the Sony Ericsson listing specifically, but he did say that he has seen a trend of employers looking to hire employed applicants.
Recruitment experts say many companies are opting out of so-called passive job seekers for a number of reasons. First, it could take longer to get them up to speed in professions that require constant training. They also say people who have not been laid off are believed to be the best in the fields, therefore more valuable.
Europes Media Warn of Global Social Unresthttp://www.wsws.org/articles/2010/jun2010/pers-j02.shtml
When Karl Marx wrote in the Communist Manifesto that a spectre is haunting Europe, he did so on the eve of the revolutionary eruptions that began in Italy and France in 1848 and engulfed much of the European continent.
In recent days, a number of media commentaries have predicted a similar eruption of social unrest of revolutionary dimensions as a direct result of the worsening economic crisis. These warnings are accompanied by dire predictions that Europe will suffer the return of nationalist tensions, the emergence of fascist movements and even war.
Writing in the Financial Times May 24, for example, historian Simon Schama stated, Far be it for me to make a dicey situation dicier but you cant smell the sulphur in the air right now and not think we might be on the threshold of an age of rage. in Europe and America there is a distinct possibility of a long hot summer of social umbrage.
Schama notes that there is often a time-lag between the onset of economic disaster and the accumulation of social fury, but after an initial period of fearful disorientation, there comes the danger of the organised mobilisation of outrage.
This outrage will be directed against the super-rich and those seen to be responsible for the crisis, he writes, comparing our own plutocrats with the financiers so memorably targeted during the French Revolution of 1789 as rich egoists.
In the Observer of May 30, Will Hutton, its former editor and now an advisor to the British Conservative-Liberal Democrat coalition government on cutting public sector pay, declares, The future of Europe is in the balance. The potential disintegration of the euro will be a first-order economic and political disaster. Economically, it will plunge Europe into competitive devaluations, debt defaults, bank bailouts, frozen credit flows, trade protection and prolonged stagnation.
(snippet)
Celente explains, Whats happening in Greece will spread worldwide as economies decline. We will see social unrest growing in all nations which are
US MINT OUT OF SILVER
From the US Mint:
Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins in quantities sufficient to meet public demand . . . .
The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins will not be produced.
A New Currency Launched Intended to Rival U.S. Dollar for Supremacy
A new currency is intended to challenge the U.S. dollar as the world's foremost reserve currency. The WOCU, short for world currency unit, was actually launched by London-based WDX Organization in September 2009, but only seems to be gaining recognition now. Its value is determined as a derivative of the exchange rates of the world's top 20 currencies, as measured by GDP, in order to reduce the risk associated with exchange rate fluctuations. The new currency is similar to the International Monetary Fund's special drawing rights (SDR), which the IMF uses as a reserve asset to supplement the currency reserves of its member states. Both Russia and China have been pushing for the world to switch to a new currency.
Hawaii Bankruptcy Filings Up 34.4%
A Solemn Warning
I want to stress from the outset, however, that this is more than a mere forecast. Its a solemn warning:
The U.S. stock market is showing the kind of extreme volatility and severe strains that typically precede major implosions.
There is very little time left to get your money to safety. The collapse could come at literally any moment now.
If you ignore this warning, you do so at your own peril. The price for allowing temporary rallies to lull you into a false sense of security could be severe and could result in massive losses.
The red flashing lights are everywhere. Just three short weeks ago, an initial bout of panic selling reached such a feverish pitch, it set off some of the markets automatic circuit breakers that shut down trading in key stocks.
But instead of breaking the markets decline, the crash merely accelerated, driving the Dow down 1,000 points in a matter of minutes.
That fateful day is now called the Flash Crash. But make no mistake: It is NOT a flash in the pan. Indeed ...
The crisis that triggered the Flash Crash
the European debt disaster
is just beginning.
Why? The reason is obvious: The European debt crisis has investors more nervous than a long-tailed cat in a roomful of rocking chairs. And it is now spreading ...
* Spain is on the brink right now: If you thought the debt crisis in Greece was bad, wait till you see whats coming next! The New York Times reports that the focus of Europes problem is rapidly shifting from Greece to Spain, one of the worlds largest economies.
DEEPWATER HORIZON WILL BE THE END OF THE UNITED STATES OF AMERICAhttp://mikeruppert.blogspot.com/2010/06/deepwater-horizon-will-be-end-of-united.html
Expect A Gold Surge: Rothchild's Piling Into Goldhttp://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=403536
Rothschild's Private Banking & Trust's head of investments Dirk Wiedmann has increased the firm's overweight positions in gold and hedge funds in preparation for further volatility and modest economic growth.
Wiedmann highlights short-term fixes for long term problems as a key headwind facing the global economy.
'The cracks in the financial system have been papered over and may not become critical for some time. Crucially, central banks will do all they can to prevent another recession. Policymakers will focus on short-term fixes and try to muddle through,' Wiedmann said.
Physics Professor: Oil leak Could Last For Years http://rawstory.com/rs/2010/0602/physics-professor-oil-leak-years/
how many of these private jobs are part time? My old friend from Seattle insists that they count the same individuals employed in two part time jobs as two...
Very much the same everywhere
Robert Reich was Secretary of Labor from 1993-1997 say's Were falling into a double-dip recession.
The Labor Department reports this morning that the private sector added a measly 41,000 net new jobs in May. (The vast bulk of new jobs in May were temporary government Census workers.) But at least 100,000 new jobs are needed every month just to keep up with population growth.
In other words, the labor market continues to deteriorate.
The average length of unemployment continues to rise now up to 34.4 weeks (up from 33 weeks in April). Thats another record.
More Americans are too discouraged to look for a job than last year at this time (1.1 million in May, an increase of 291,000 from a year earlier.)
Of the small number of jobs created by the private sector in May, many came from temporary help services.
Which is one reason why the median wage continues to drop.
Why are we having such a hard time getting free of the Great Recession? Because consumers, who constitute 70 percent of the economy, dont have the dough. They cant any longer treat their homes as ATMs, as they did before the Great Recession.
Businesses wont rehire if theres not enough demand for their goods and services.
The only reason the economy isnt in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which cant continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories). Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).
But all these boosts will end soon. Then were in the dip.
DOW down 2.35%
NASDAQ down 2.13%
S&P 500 down 2.25%
The acceleration is partially product of the euro, now trading below $1.20 and today's disappointing job numbers. More to follow...
David Rosenberg Explains Why The Jobs Report Was Even Worse Than It First Looked
With no need for introduction, here's Gluskin-Sheff's David Rosenberg on why the jobs report was even worse than the headlines suggest:
This is probably the first time on record when a 431,000 surge in U.S. nonfarm
payrolls was viewed as a terrible employment report. Perhaps this is because
411,000 of those jobs, or 95% of the tally, were in Census hirings, which
everyone knows are temporary.
Private payrolls were the real key for the market and the consensus was completely giddy believing that we were going to see a +180,000 print today. Instead, we got a putrid 41,000 increase, which is hardly significant in any statistical sense for once, the ADP survey looked optimistic. And of course, state and local governments are moving aggressively to get their fiscal position back into black ink and that means massive cost cutting. In May, this belt- tightening translated into a 22,000 retrenchment in employment in this part of the economy, which is 50% larger than the federal government.
Not only that, but a big red flag was clearly waved by the Household Survey,
where total employment actually fell 35,000 the first decline of the year and a
splash of cold water on the widespread view that this recovery was gaining
steam. Note too that the 41,000 increase in private payrolls marked a huge
slowing from +218,000 in April and +158,000 in March, and the diffusion index
sank like a stone, to 54.1% last month from 66.7%, so we have a situation
where nearly half of the universe of employers were either cutting their payrolls
or leaving them stagnant last month. This is not the hallmark of a robust V-
shaped expansion deserving of an 80% rally off the lows, which is what we had
on our hands little more than a month ago. Look for consensus GDP growth and
earnings revisions to start heading down in coming weeks.
The unemployment rate did manage to come down to 9.7% from 9.9% but this
was a pure statistical anomaly owing to the 322,000 plunge in the labour force.
Absent that decline, the headline jobless rate would have actually climbed back
to 10%. The broad U-6 unemployment rate also managed to drop, to 16.6%
from 17.1%, again owing to a sharp decline in the total pool of available labour
last month. (We have no idea where these 504,000 souls wandered off to
maybe all the students went to camp instead of looking for a job at the gas
station). We also had some new record highs being set:
i) The average duration of unemployment (34.4 weeks from 33.0 weeks in April);
and,
ii) The share of the unemployed ranks who have been out of work now for at
least a half-year (46.0% from 45.9%).
Anytime we have both the employment rate (58.7% from 58.8%) and the
participation rate (65.0% from 65.2%) declining the same month, you know you
have a very soft labour market on your hands.
Boujis on a tues night is quality, lots of hot sloaney girls
Amika/Movida on a fri night are good
Jalouse on a sat night
Never been to Tramps have heard it's v exclusive tho
Asad
Boujis, Mahiki, Tramp?
Asad