Hey Jim,
You posted a link: Click here to view the link…
ADP is wildly inconsistent, but Challenger, Grey, and Christmas Announced Layoffs time series is not. Announced layoffs grew 103% year-over-year (YOY) in March. This growth rate represents only a slight downtick from the December 2008 high of 132% YOY. Announced layoffs are soaring. This means it will be increasingly difficult for the birth/death model to hide the magnitude of the job loss.
Regards,
CIGA Eric
Dear Mr. Smith,
Thank you for your comment on the uptick rule. The Commission has announced that it will consider proposals relating to short sale price tests at an open meeting scheduled for April 8, 2009. The meeting will be webcast from the SEC’s website at www.sec.gov/news/openmeetings.shtml.
Should the Commission vote to publish a proposal for comment, a comment file for the rulemaking will be created once the proposal is published by the Commission. Your comment will be placed in that file.
Sincerely,
RICHARD G SUGARMAN
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(202)551-6551
Jim,
Only a fool would be without physical Gold in hand now with so many geopolitical challenges and paper currency’s hollow value.
Regards,
CIGA Pedro
"In an interview conducted shortly before he was sworn in today as prime minister of Israel, Benjamin Netanyahu laid down a challenge for Barack Obama. The American president, he said, must stop Iran from acquiring nuclear weapons—and quickly—or an imperiled Israel may be forced to attack Iran’s nuclear facilities itself."
Dear Green Hornet,
The key to the transmission of latent money creation such as the payment to AIG in bailouts which moves into AIG from bailout schemes out the back door to winners on the toxic OTC derivatives is velocity of money. As velocity of money increases, the latent M3 becomes present time M3.
Normally it takes a recovery in business activity to stimulate the Velocity of Money, which is an engine of inflation price wise.
These are not normal times.
Never has any government dared to create in one year monetary inflation equal to the GDP of that country. This is going to be an accomplishment of the USA in this year.
Every hyper-inflation that has ever occurred has happened when Velocity of Money was stimulated by a loss of confidence in the currency unit in the midst of a period of horrid business activity.
This is what will bring hyperinflation to the US dollar and price inflation in the midst of a deflationary depression. There is no means to drain this liquidity regardless of what the Fed would have you believe. There is no exit on this Highway to Hell as the president of the EU labelled it.
From Wikipedia:
* M0: The total of all physical currency, plus accounts at the central bank that can be exchanged for physical currency.
* M1: The total of all physical currency part of bank reserves + the amount in demand accounts ("checking" or "current" accounts).
* M2: M1 + most savings accounts, money market accounts, retail money market mutual funds,and small denomination time deposits (certificates of deposit of under $100,000).
* M3: M2 + all other CDs (large time deposits, institutional money market mutual fund balances), deposits of eurodollars and repurchase agreements.
When the Federal Reserve announced in 2005 that they would cease publishing M3 statistics in March 2006, they explained that M3 did not convey any additional information about economic activity compared to M2, and thus, had not been used in determining monetary policy for years. Therefore, the costs to collect M3 data outweighed the benefits the data provided.[12] Some politicians have spoken out against the Federal Reserve’s decision to cease publishing M3 statistics and have urged the U.S. Congress to take steps requiring the Federal Reserve to do so. Congressman Ron Paul claimed that "M3 is the best description of how quickly the Fed is creating new money and credit. Common sense tells us that a government central bank creating new money out of thin air depreciates the value of each dollar in circulation."[17] Some of the data used to calculate M3 are still collected and published on a regular basis.[12] Current alternate sources of M3 data are available from the private sector[18].
Regards,
Jim
Dear Jim,
A lot of people think there will be a recovery. They also think it can’t get any worse!
Banks walking away from foreclosures are pretty serious. My heart bleeds for these people losing all they own…
You have been warning people since 2002 to be defensive, get rid of debt and buy physical gold! Too bad more did not listen. I fear buying right now is like catching a falling safe!
Best,
CIGA BT
Banks Starting to Walk Away on Foreclosures
By SUSAN SAULNY
Published: March 29, 2009
SOUTH BEND, Ind. — Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox.
Ms. James had the tenants move out, and soon her white house at the corner of Thomas and Maple Streets fell into the hands of looters and vandals, and then, into disrepair. Dejected and broke, Ms. James said she salvaged but a lesson from her loss.
So imagine her surprise when the City of South Bend contacted her recently, demanding that she resume maintenance on the property. The sheriff’s sale had been canceled at the last minute, leaving the property title — and a world of trouble — in her name.
