[Timo]

Relax! Everything will be just fine for everyone if we just let the US Chamber of Commerce and the Koch Brothers have their way. Place your implicit trust in their ideological world, and have faith in their visions for us all. It'll all be all right. They said so, and politicians agree.

[GoIllini]

It's a tale of two economies. Honestly, I think population in the world/US is going to track lower over the next 30 years, largely peacefully although with a few collapses in the third world like we're seeing now. In the western world, it will be hard to get married and have kids if you don't have a job, naturally reducing population pressures. As the older folks start exiting the mortal realm, there will be more resources and infrastructure for everyone else.

Have your kids study engineering, accounting, medicine, agricultural science, or math, and train them to save money like crazy, and they'll be just fine. If you're really worried, make sure they stay in a country with a lot of farmland and a huge military- or at least friendly neighbors- like the US or Canada. The secret to making it in the new economy isn't to be a wealthy oligarch but to have a fundamentally valuable education and live within your means.

There will be a few wars and famines in the meantime, and the smaller government we see today in the US is unfortunately going to move tens of millions into the working poor as the manufacturing jobs come back from China, but intelligent folks with difficult-to-get skills will be just fine.

[Daniel_Plainview]

Labor Market in Turmoil -- Jobless Claims Soar by 9,000, Leaping past 400K barrier to 408,000

$this->bbcode_second_pass_quote('', 'M')ore Americans than forecast filed applications for unemployment benefits last week, signaling the labor market is struggling two years into the economic recovery. Jobless claims climbed by 9,000 to 408,000 in the week ended Aug. 13, the highest in a month, Labor Department figures showed today in Washington. Economists surveyed by Bloomberg News projected a rise in claims to 400,000, according to the median forecast. The number of people on unemployment benefit rolls rose, while those receiving extended payments fell.

Companies like Bank of New York Mellon Corp. (BK) are paring staff, one reason consumers are limiting their spending, which accounts for about 70 percent of the economy. Unemployment at 9.1 percent helps explain why Federal Reserve policy makers last week pledged to hold interest rates at a record low until at least mid-2013 to spur growth. “People continue to get laid off. The uncertainty in the economic outlook is continuing to give hiring managers sleepless nights and is keeping businesses from expanding. We have an incredibly long way to go,” said David Semmens, a U.S. economist at Standard Chartered Bank in New York.

Jobless benefits applications were projected to rise from the 395,000 initially reported for the prior week, according to the median forecast of 41 economists in a Bloomberg survey. Estimates ranged from 390,000 to 420,000.
Today’s data showed the four-week moving average, a less- volatile measure than the weekly figures, dropped to 402,500 last week, the lowest since April 16, from 406,000.

[Sixstrings]

I don't think OIlfinder has posted once since the downgrade.

What happened.. I could use good news, I want to hear the positive spin on gold shooting through the roof, USA downgraded, Europe verging on a Lehman implosion (rumor is some of their banks are about to go under)..

Oilfinder where are you?

Did he bug out to Bolivia with all his gold?

I'm not joking here, the day all the cornies bug out we know it's serious.

[americandream]

$this->bbcode_second_pass_quote('Sixstrings', 'I') don't think OIlfinder has posted once since the downgrade.

What happened.. I could use good news, I want to hear the positive spin on gold shooting through the roof, USA downgraded, Europe verging on a Lehman implosion (rumor is some of their banks are about to go under)..

Oilfinder where are you?

Did he bug out to Bolivia with all his gold?

I'm not joking here, the day all the cornies bug out we know it's serious.

[copious.abundance]

$this->bbcode_second_pass_quote('Sixstrings', 'I') don't think OIlfinder has posted once since the downgrade.

$this->bbcode_second_pass_quote('Daniel_Plainview', '')$this->bbcode_second_pass_quote('', 'T')oday’s data showed the four-week moving average, a less- volatile measure than the weekly figures, dropped to 402,500 last week, the lowest since April 16, from 406,000.

[americandream]

$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') don't think OIlfinder has posted once since the downgrade.

[copious.abundance]

$this->bbcode_second_pass_quote('americandream', 'I') would have been surprised if you had gone doom (prematurely)

[kiwichick]

which bullish signals ad?

[americandream]

$this->bbcode_second_pass_quote('kiwichick', 'w')hich bullish signals ad?

[copious.abundance]

Now we know why jobless claims went up last week - and why they went up again today:

Labor Department says:
$this->bbcode_second_pass_quote('', '[')i]Special Factor: As a result of a labor dispute between Communications Workers of America and Verizon Communications, at least 12,500 initial claims were filed in the week ending 8/13/2011 and at least 8,500 initial claims were filed in the week ending 8/20/2011.

[ritter]

$this->bbcode_second_pass_quote('OilFinder2', '
')So, the 412K from last week would have been about 400K without the strike, and the 417K out this week would have been about 409K without the strike.

[steam_cannon]

$this->bbcode_second_pass_quote('ritter', '')$this->bbcode_second_pass_quote('OilFinder2', '
')So, the 412K from last week would have been about 400K without the strike, and the 417K out this week would have been about 409K without the strike.

[Daniel_Plainview]

Stiglitz Says Probability of U.S. Recession ‘Very High’

$this->bbcode_second_pass_quote('', 'N')obel-prize winning economist Joseph Stiglitz said the chances of the U.S. economy going back into recession are “very high.” “The unemployment situation in the U.S. is very severe and very probably going to get worse,” Stiglitz told reporters today at a conference in Lindau, Germany. “There’s a very high probability we’ll go into double dip.” Claims for U.S. unemployment benefits unexpectedly rose 5,000 to 417,000 in the week ended Aug. 20, Labor Department figures showed today.

The U.S. unemployment rate is 9.1 percent. Stiglitz said calls by policy makers to engage in deficit- cutting austerity measures were heading in “exactly the wrong direction.” “The most important way to address the deficit is to get America back to work, to get the economy back to full employment,” Stiglitz said at an annual gathering of Nobel Prize-winning economists. “Austerity is going to get us predictably into trouble. Spend the money on investments, and those investments will lead to higher growth.”

[Daniel_Plainview]

U.S. jobless claims rise to 414,000

$this->bbcode_second_pass_quote('', 'W')ASHINGTON (MarketWatch) - Applications for unemployment compensation rose to 414,000 last week from 412,000, the U.S. Labor Department said Thursday. Economists surveyed by MarketWatch forecast claims to rise to a seasonally adjusted 411,000 in the week ended Sept. 3. Initial claims for two weeks ago were revised up from an original reading of 409,000. A government official said last week's hurricane in the Northeast appeared to have little effect on claims, but data for four states including California and Virginia had to be estimated because of the Labor Day holiday. The average of new claims over the past four weeks, meanwhile, rose by 3,750 to 414,750, the highest level since mid-July. The monthly average is seen as a more accurate gauge of labor trends because it smoothes out volatility in the week-to-week data. About 7.17 million people received some kind of state or federal benefit in the week of Aug. 20, down 167,009 from the prior week. In addition, the number of Americans who continue to receive benefits through regular state unemployment programs fell by 30,000 to 3.72 million in the week ended Aug 27.

[kiwichick]

ad


no i would say long term investor who sometimes trades if the profit gets obscene

your comment re western workers giving back undeserved wage premium is correct and has been for at least 40 years

the west peaked in the 1960's

[Daniel_Plainview]

Recession Fears Worsen as Jobless Claims Jump by 11,000, Reaching a Horrific 428,000

$this->bbcode_second_pass_quote('', 'U')NEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending September 10, the advance figure for seasonally adjusted initial claims was 428,000, an increase of 11,000 from the previous week's revised figure of 417,000. The 4-week moving average was 419,500, an increase of 4,000 from the previous week's revised average of 415,500.

[ColossalContrarian]

Last weekend I was pondering why with such high unemployment is there so much traffic during rush hour each day and why restaurants in my neighborhood are always packed?

I even tried to make a reservation to go out to dinner (knowing in advance that the place would have at least a 45minute wait) and the folks at the restaurant said I can't, I can only do a call ahead which would give me about a 15 minute lead on anyone else walking through the door.

Later that day, I sat in Texas Road House, with my girlfriend, wait list pager in hand and salty peanuts in the other. I overheard a couple talking about doing side jobs since unemployment benefits weren't cutting it to pay bills. I thought about it for a minute. Two people, out to dinner, collecting UI beni's and working side jobs. Texas Road House isn't exactly cheap. I'd place it on a scale of 6 or 7 out of ten, Applebee's being a solid 3 and Chili's maybe a 5. Needless to say, all three restaurants are located near each other and they're all packed.

I got to thinking about how many people are claiming UI beni's, working side jobs or under the table deals, and getting away with collecting UI beni's. Clearly the couple I overheard had enough money to go out to dinner at a nice place, so that of-course burned me but o'well.

Yesterday on the news I hear about 4, that's four, people getting busted for Unemployment Fraud and how the state is out to catch people taking advantage of the system. I really don't think there's a chance in hell the state could catch many of the people taking advantage of the system.

When I see these numbers go up or rise, I really have to wonder how many of the people are legitimately unemployed? I sometimes wonder if people are signing up fake information?

Any idea's on or comments on the percentage of people abusing the system?

[beamofthewave]

I don't think Americans who are unemployed realize what dire straits they are in and that they really should not spend money on eating out. They don't get it that many of their fellow citizens are going to be oh so fine with watching them starve to death on the streets once the money is gone and they cant find work. After that guy yelling with happiness and gratitude about letting old folks die without medical care at the Ron Paul debate, I do not understand how they dont get it and they dont. I for one am very grateful for unemployment insurance as a piece of a very frail safety net that the USA has.