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From FT: Friday’s disappointing employment report out of the US is unsettling even for those of us that have consistently worried, and warned about the country’s weak job picture. It comes at a time when many people are understandably giving up hope of any major policy initiative out of Washington. And it confirms that this closely-watched release should be interpreted beyond its traditional role as a lagging indicator; these days, it [...] by Derek Thompson For the first time on record, more young Greek workers are without a job than with one, Reuters reports.* Official youth unemployment in Greece has crossed the 50 percent barrier and there’s very little reason to think that this is the ceiling. The economy is still shrinking. The latest round of austerity, which will punish wages and lead to more firings, has yet to set in. And, as economic pain tends to inflict itself disproportionately on [...] Just in case you were worried that David Rosenberg had turned all bright and happy with regards to the US equity markets – he brings us his 7 major risks brewing: China hard landing (PMI down to 51, perilously close to contraction mode)…equity market may have begun to price in some probability of such. Contagion sovereign credit risks in Europe (the rating agencies have already begun to take [...] by Kathryn Blair If congressional hearings can be seen as a lagging indicator, investors may be right to be worried about the muni bond market: A House panel is holding a hearing this morning titled “State and Municipal Debt: The Coming Crisis?” From WSJ: “State and Municipal Debt: The Coming Crisis?” is the provocative topic of a congressional hearing Wednesday, which among other things will consider whether states should be allowed [...] On Friday December 3, 2010, 3:42 pm Pay no attention to those 15.1 million unemployed people-Wall Street instead is more focused on the man behind the Fed curtain and what he’ll be doing to fire up the equity markets. Friday’s significantly disappointing jobs report, which under normal circumstances would have sparked a significant selloff in the stock market, instead was greeted only with more expectations that [...] I am a bit perplexed about growth in industrial production as it does not align with what I see taking place elsewhere within the economy. The other possibility is that it’s a bit of lagging indicator and the leading indicators suggesting an imminent change in course. The Fed surveys indicate slowing growth but at different rates; clearly the Philly Fed area is contracting faster than the NY area. The latter index [...] especially at the start, when the banking mafia is heavily manipulating index futures, and toward the end of the day when they will probably try another painting the tape episode. That said, it is time for anyone who has not jumped out of this market to exit stage right. You can use the fake rallies induced by the banking mafia to do that, as foolish institutional investors are deliberately misled, [...] I’m in the consulting engineering business. I guarantee that the stimulus money was a flash in the pan at the best. Also, we are a $35 million per year company and we are still cutting jobs, not adding. There is little to no development going on! This is also in the center of the country where things are better than on the coasts. In Kansas City, the estimated unemployment for Architects [...] |
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