Time 2 | InvestmentWatch

Software developer fired after bosses learn he outsourced his work to China and spent ALL DAY surfing the web

Began day by looking at cat videos and Reddit for two hours
Took 90-minute lunch breaks

Also wasted time on eBay, Facebook and LinkedIn
Paid Chinese consulting firm $50,000 to do his work for him
Was praised for being ‘the best developer in the building’ and was described as ‘Someone you wouldn’t look at twice in an elevator’

It was nice work while it lasted.

A software developer making six-figures was fired after his bosses learned [...]

I spent ~60months self/unemployed. I’ve been employed for the last 3 years now and have made some observations on hiring practices. I’ll start with the most important:

1. Do not bother sending one single resume if you do not have a personal reccomendation from someone who works where you are applying. Your degree/experience is of very minor importance compared to WHO YOU KNOW at the company you are trying to get a job at. I can tell you from watching the hundreds of new hires where I work, that every single one of them have a friend [...]

Number of babies born to ethnic minorities surpasses whites in U.S. for first time

2.02million – 50.4% – minority births, says 2011 census
Caps decades of immigration growth that is now slowing
All births down in economic slump, but drop faster for whites
Minority population continues to rise to 114.1million, 36.6% of total

Data released as Supreme Court considers ruling on state’s strict immigration law

For the first time, racial and ethnic minorities make up more than half the children born in the U.S., in what has been described [...]

Top analyst Rosenberg: The two most important investment rules to remember now (Not understanding this is what leads to individuals losing large amounts of money)

From Pragmatic Capitalism:

…”People continually label me a ‘perma-bear,’ which is inaccurate. I have been a perma-bull on fixed income for a very long time. The reason that Gluskin-Sheff hired me is that my job is to take the economic data points and put them together in a structure from which investments can be made.”

“A Forecast is nothing more than the midpoint of a distribution curve.”

When you talk about risk often [...]

Exit polls show Sarkozy has lost in France; Greek voters also turn on leaders

http://www.miamiherald.com/2012/05/06/2786366/exit-polls-show-sarkozy-has-lost.html

“French Socialist Francois Hollande appeared headed to victory over President Nicolas Sarkozy, according to exit polls of voters released by Swiss and Belgian news media.

Those polls showed Hollande with 52 to 53 percent of the vote in an election that turned on solutions for Europe’s economic crisis amid record unemployment in France.

French voters were still headed to cast their ballots when the exit polls were released in the early evening [...]

Truth about your tax bill: Everyone to get statement revealing THIRD of tax goes on welfare

Taxpayers earning £50,000 will have paid £14,183 in tax and National Insurance, with around a third, £4,727.67, going on welfare
George Osborne hopes transparency will improve public view of spending

Chancellor also considering merging income tax and National Insurance
Ministers thrashing out final Budget details
Wavering over whether to say top tax rate will come down to 40p in 2014

Every taxpayer is to get a personal annual statement revealing how each pound taken from [...]

Eight “simple truths” you should know for 2012

From Sovereign Man:

Yesterday, we discussed certain events that, in my view, are nearly mathematical certainties. Things like a restructuring of public pensions and Social Security in Europe and the U.S. Western governments blocking Internet and mobile networks. War. The U.S. government being forced to issue debt in a foreign currency.

All of these events are underpinned by a simple premise:

1) Public and private debts included, most western nations are insolvent. Big [...]

Moody’s Continues Review Of Italy’s Aa2 Ratings For Possible Downgrade, To Conclude Review Within Next Month

by ZH

Moody’s continues review of Italy’s Aa2 ratings for possible downgrade

Frankfurt am Main, September 16, 2011 — Moody’s Investors Service is continuing its review for possible downgrade of Italy’s Aa2 local and foreign currency government bond ratings.

RATINGS RATIONALE

Moody’s initially placed Italy’s bond ratings on review for possible downgrade on 17 June 2011. The main drivers that prompted the rating review are:

(1) [...]

Kenya’s Geoffrey Mutai wins men’s race in Boston Marathon in record time – 2:03:02

Source

TIME FRAME: At least 5 years and possibly longer before this Wall Street created mess is sorted out.”

by fiftyfirststate

I don’t care if home sales rise 20%. To me, that means there are still a lot of dummies out there falling for the “gimmicks” like tax breaks, etc. The bottom line is, prices must drop and are dropping (exclude the odd short term trends) because there are so many reasons pointing to the fact that property is many parts of the US is still 30% to 50% overvalued [...]

From another site: QUOTE This employment report is beyond laughable.

Here are the key takeaways:

* The working age population of the US went up by 191,000 over last month.
* According to your friendly neighborhood government bureaucrats at the BLS, the number of people in the workforce DECLINED by 348,000. They must have all hit the lottery.
* In the last year, the working age population has grown by 2 MILLION people, while the number of people in the workforce, ACCORDING [...]

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