- A Conversation About Payroll Data That You Never Saw On CNBC
- Bad now? 1929 Versus 2007: Employment Change
- 40% of Working Age Californians Jobless
- China Issues Bonds To “Promote The RMB In Neighbouring Countries”
- An Address To Our Schoolchildren
- Myth: “Job-Less Recovery”
- New Exotic Investments Are Emerging on Wall Street (H/T iDoctor and Zulu)
- Debtors Revolt Begins
- Google Domestic Trends: Cash for Clunkers (Chart)
Or that the seasonal adjustment of the payroll data artificially created 28,000 jobs in the auto industry, when, in fact, automakers cut 8,600 jobs, so that the reported 247,000 jobs lost in July were really closer to 285,000 jobs or 15% worse than reported?
From the San Francisco Chronicle (hat tip reader John D):
A report released Sunday says two of five working-age Californians do not have a job, underscoring the challenges in one of the toughest job markets in decades. A new study has found that the last time employment levels among this group were this low was February 1977.
By comparison, the current national unemployment rate of 9.7% is the worst since 1983.
But the current situation is worse that that “2 out of 5″ figure indicates. The study reported that only 57.5% of working age Californians have a job. The Golden State has the fourth highest unemployment rate in the US.
The yuan bond issue, worth about $879 million, will ‘‘promote the RMB in neighboring countries,’’ referring to the renminbi currency, ‘‘and improve the yuan’s international status,’’ the Finance Ministry said in the statement on its Web site.
‘‘The first step toward internationalization is regionalization,’’ Shi Lei, a foreign currency analyst at Bank of China in Beijing, said in an interview. ‘‘China wants to develop the offshore market in Hong Kong.’’
While domestic banks like Bank of China and the Export-Import Bank of China have already been issuing yuan-denominated bonds in Hong Kong for a couple of years, at the encouragement of Beijing, this is the first time that government bonds, the equivalent of treasuries, are to be issued. The bond sale is set for Sept. 28.
This is not an accident.
In math class you are taught “the power function”, which you think of as squares, cubes, and similar. It is written as 4^2, or, expanded, as 4 x 4.
But what you’re not taught is how this applies to finance, even though every household and every American has their own financial challenges, and every person in America should understand how finance works.
Neither Republican or Democrat wants you to see this graph. This is how much each American, from 1970 to today, is in debt because of our government’s policies:
The latest example of mindless droning from these pseudo-reporters is that the U.S. economy is headed for a “job-less recovery”.
As with all oxymorons, no intelligent person would/should be foolish enough to add these buzz-words to his/her lexicon
After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.
The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.
Debtors Revolt Begins (H/T FarmerBrown)[video:http://www.youtube.com/watch?v=jGC1mCS4OVo&feature=player_embedded]