“Keep it coming boys” – the fiat and BS that is.
“QE to Infinity” defined as the USDX in the low .70s. There is no other choice regardless of the MSM fabrication machines. Pravda is more accurate reading than the US press.
BLS number is BS
Rate’s closer to 11%, former insider insists
By JOHN CRUDELE
Last Updated: 9:19 AM, July 18, 2013
Posted: 12:37 AM, July 18, 2013
Keith Hall believes the US economy is a lot sicker than the 7.6 percent unemployment rate would lead you to believe.
And he should know.
Hall was, from 2008 until last year, the guy in charge of Washington’s Bureau of Labor Statistics, the agency that compiles that rate.
“Right now [it’s] misleadingly low,” says Hall, who believes a truer reading of those now wanting a job but without one to be more than 10 percent.
The fly in the ointment is the BLS employment-to-population ratio, which is currently at 58.7 percent. “It’s lower than it was when the recession ended. I think that’s a remarkable statistic,” says Hall, a senior research fellow at the Mercatus Center at George Mason University in Fairfax, Va.
That level tells Hall the real unemployment rate is actually about 3 percentage points higher than the BLS number. If the jobless rate is unacceptable at 7.6 percent, it’d be shockingly bad if he is right and the true rate is 10.6 percent.
How could they be so different? I asked the former number-cruncher.
How is your sense of humor? Try Bernanke on gold. “Disaster Insurance” sound really good to me.
Motown now becomes No-Motown! It’s done. Detroit declares bankruptcy!
Moody, the wise servant upgrades the USA. The price of survival in the financialized, virtualized Western world is fabrication.
Detroit Emergency Manager Files Bankruptcy
By Corey Williams and Ed White, Associated Press
DETROIT (AP) — Detroit on Thursday became the largest city in U.S. history to file for bankruptcy, as the state-appointed emergency manager filed for Chapter 9 protection.
Kevyn Orr, a bankruptcy expert, was hired by the state in March to lead Detroit out of a fiscal free-fall and made the filing Thursday in federal bankruptcy court.
A number of factors — most notably steep population and tax base falls — have been blamed on Detroit’s tumble toward insolvency. Detroit lost a quarter-million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million is struggling to stay above 700,000. Much of the middle-class and scores of businesses also have fled Detroit, taking their tax dollars with them.
Moody’s affirms US rating at Aaa, changes
NEW YORK (AP) — Moody’s affirms US rating at Aaa, changes outlook to ‘Stable’ from ‘Negative’ .
Jim Sinclair’s Commentary
Compliments of CIGA TraderStef.
This is no different from the bail-ins being slowly adopted worldwide. In fact, it’s eerily identical.
Going beyond the banking community,
Going beyond the Fed,
Going to infinity and beyond.
GOTS (Get Out of The System)
“I have never seen this before, except with startups,” Mr. Lindner said.
Mr. Lindner you ain’t seen nothin’ yet!
CIGA Wolfgang Rech
KKR-Owned First Data to Suspend 401(k) Contributions
First Data Employees to Get Stock Instead of 401(k) Match
By ROBIN SIDEL and JOANN S. LUBLIN
First Data Corp. will suspend 401(k) contributions to employees and replace cash bonuses with stock as part of its new chief executive’s strategy to return the credit-card processor to profitability.
The unusual move, announced to all 24,000 employees of the Atlanta company in an internal memo Monday, is the most sweeping yet by Frank Bisignano, a longtime J.P. Morgan Chase JPM -0.15% & Co. executive hired in late April to run First Data.
It is uncommon for a large, established and privately held company to offer stock grants as bonuses to all employees, said Don Lindner, executive-compensation practice leader for WorldatWork, a professional association for compensation and benefits specialists. Stock-based compensation is more common at new companies, where employees often are willing to forgo cash in hopes their stock will surge in value.
I hope you are doing very well.
The year before Lehman’s demise I contacted SIPC and spoke to one of their attorneys. I asked him how much SIPC, which was funded by brokerage dues. He said $1.5 billion, with a line of credit from the governmentt of another $1.5 billion!
I asked how SIPC would handle a financial meltdown. He said he didn’t know. He said, let’s just hope that doesn’t happen. Now is that “a plan” that one would want to put one’s faith in or one that one should not walk, but run from? $3 billion doesn’t even cover Warren Buffet, let alone the rest of us!
This being the case, SIPC appears to be a fraudulent claim that no brokerage should legally be permitted to make.
You are absolutely correct in your warnings to your readers.
As a lifelong trader, it absolutely pains me to not feel safe in performing what I love doing most. Fund managers don’t mind trading size because it still is OPM to them and a vehicle for them to make money up until the time their clients (OPM) may lose their shirts.
I hope CIGAs heed your advice to protect themselves by either largely exiting the system and/or by certificating their shares, as you are absolutely correct.
Rest well and have a very good evening… and much thanks!
Both the FDIC and SIPC are sick jokes.