Happy Easter! We need this kind of justice
China sentences woman to death for $16 million fund scam
BEIJING | Fri Apr 6, 2012 7:02am EDT
(Reuters) – A 30-year-old Chinese woman was sentenced to death by a court in Wenzhou for "cheating" investors of 100.11 million yuan ($16 million) losing 94 million yuan in futures and gold trading, the official Xinhua news agency reported on Friday.
The death sentence for Wang Caiping – who must first serve two years in prison – came days after Beijing launched a pilot program in Wenzhou to tame the informal private lending market to which the city’s renowned entrepreneurs often turn.
Xinhua said Wang borrowed the money between January and October 2010 promising to buy equipment, invest in property and open credit guarantee firms, but instead used the cash to speculate in futures and gold trading along with her elder brother, Wang Guanglin, who is still at large.
I went shopping today and bought a 5lb bag of sugar. The bag looked different. Upon closer inspection it’s now a 4lb bag.
Some back of the napkin math – if the price remained the same then that’s a 20% increase in food inflation. This is in addition to the 25% decrease in size (increase in price) for Egg Beaters I mentioned in my February email.
Are these price increases due to an increase in economic prosperity (demand-pull inflation)? I believe the chart below should answer that.
Possibly the cost-push inflation.
I understand that QE3 will come for "the good of the World."
How about that?
In one sense yes, but the consequences are tough.
I don’t know about the rest of America, but my daughter goes to Villanova University at a cost of about $60,000+ per year. She’s studying accounting, which is a five year degree. That puts me in the hole for almost a third of a million dollars when she graduates!
It appears the government numbers on student loans are about as accurate, and tallied in the same manner as the Unemployment numbers they release. When people use up their benefits, they are no longer counted as unemployed, but rather removed from the workforce numbers altogether. At that rate, we will eventually reach Zero Unemployment with Zero people working.
Average student loan debt tops $25,000
By Blake Ellis November 3, 2011: 5:22 AM ET
NEW YORK (CNNMoney) — Students graduating from college last year walked away with more than a diploma, they also left with a record level of student loan debt.
College seniors who took out loans to fund their college education owed an average of $25,250, 5% more than the class of 2009 owed, according to a report from the Institute for College Access & Success’ Project on Student Debt.
Will this be the start of MOPE towards a QE announcement?
What he recently said taken by the market via manipulation regarding the need for a slowdown to qualify QE 3 was in truth the beginning of the MOPE for QE3. Thanks to the gold banks it was grossly misinterpreted.
Bernanke Warning on Jobs Vindicated by March Payrolls Report
By Craig Torres, Alex Kowalski and Lorraine Woellert – Apr 6, 2012 10:00 PM MT
The Labor Department’s March jobs report may have proved Federal Reserve Chairman Ben S. Bernanke right after he warned that payroll gains might slow as companies adjust staffing for a period of moderate growth.
Employers in the U.S. added 120,000 jobs in March, the fewest in five months, the report showed yesterday. The unemployment rate fell to 8.2 percent from 8.3 percent the month before as people stopped looking for work. The March report followed the best six-month streak of job growth since 2006.
“Chairman Bernanke should be putting out the world’s biggest ‘I told you so,’” said Phillip Swagel, an economist at the University of Maryland and former assistant Treasury secretary in George W. Bush’s administration. “It must give the Fed some comfort that they continue to have this accommodative stance.”
Employment gains slow, jobless rate drops
The dollar’s sharp bounce and drubbing in precious metals and mining shares precipitated from the interpretation that an improving economy had significantly reduced the probability of quantitative easing (QE3) going forward. After today’s disappointing employment data, it’s likely that this assumption will be challenged by the markets next week.
Economic activity is either rising or falling at an increasing rate. The unexpected rollover in the JCH (see chart), suggests that economic activity regardless of the opportunistic actions of the invisible hand or easy headline explanation (such as the Fed minutes were responsible) is beginning to transition from rising to falling at an increasing rate. The public busy flipping houses in the can’t lose real estate sector missed the last transition period in 2005-2006. Expect the 2012-2013 transition to be no different.
Chart: Job Creation Histogram (JCH): Net Nonfarm Payrolls Added/(Lost) less Civilian Labor Force Added/(Lost), 12 Month Average.
Headline: Employment gains slow, jobless rate drops
WASHINGTON (Reuters) – Payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent. Employers added 120,000 jobs last month, the Labor Department said on Friday, the smallest increase since October. Economists polled by Reuters had expected nonfarm employment to increase 203,000 and the jobless rate to hold at 8.3 percent. The slowdown in employment growth last month likely reflected the fading boost from unseasonably warm winter weather. It supported the caution on the labor market from Fed Chairman Ben Bernanke last week.