NFP -20,000, Consensus +15,000, Non-Seasonally Adjusted Unemployment Rate (U3 And U6) Surges To Record 10.6% And 18% | zero hedge
Funny Math means 9.7%. True unemployment breaks 18%. U6 is nearing records highs since it has been keeped. Note that the 25% quoted from the Great Depression was very lax survey number.
Focusing on current trends and ways to profit from them "There's a sucker born every minute. These are the people who believe that this time it's different. "
Friday, February 5, 2010
Thursday, February 4, 2010
Obama’s Pyramid Schemes Would Make Keynes Happy: Caroline Baum - Bloomberg.com
Obama’s Pyramid Schemes Would Make Keynes Happy: Caroline Baum - Bloomberg.com
Must read of the week.
On a side note, tomorrow could be ugly if we push past 10%.
Must read of the week.
On a side note, tomorrow could be ugly if we push past 10%.
Growth Again… In Jobless Claims – 24/7 Wall St.#more-59251#more-59251#more-59251
Growth Again… In Jobless Claims – 24/7 Wall St.#more-59251#more-59251#more-59251
The beat continues. Someone needs to change the record.
The beat continues. Someone needs to change the record.
Wednesday, February 3, 2010
As Values Slide, More Weigh Walking Away From Mortgages - NYTimes.com
As Values Slide, More Weigh Walking Away From Mortgages - NYTimes.com
In short a rock and hard place. Either Banks start losing some money on the loans or loss the whole loan. One small snag they sold the loan in CDO contracts. Which means they are screwed :)
In short a rock and hard place. Either Banks start losing some money on the loans or loss the whole loan. One small snag they sold the loan in CDO contracts. Which means they are screwed :)
Tuesday, February 2, 2010
Rising FHA default rate foreshadows a crush of foreclosures - washingtonpost.com
Rising FHA default rate foreshadows a crush of foreclosures - washingtonpost.com
Free Cash!
Low Rates!
The economy is improving!
What could go wrong.
Adding to the trouble was a now-defunct FHA program that enabled sellers to cover the down payments of buyers.
Free Cash!
Those with especially weak credit scores will also have to put down at least 10 percent instead of the usual 3.5 percent down payment.
Low Rates!
About 9.1 percent of FHA borrowers had missed at least three payments as of December, up from 6.5 percent a year ago, the agency's figures show.
The economy is improving!
What could go wrong.
Monday, February 1, 2010
A Majority Of States Are Now Insolvent: Quantifying The Disastrous Unemployment Situation | zero hedge
A Majority Of States Are Now Insolvent: Quantifying The Disastrous Unemployment Situation | zero hedge
38 states are below negative. The beat remains the same.
38 states are below negative. The beat remains the same.
Swiss warn UBS bank could collapse
Swiss warn UBS bank could collapse
Swiss say if USB collapase will take down the rest of the country. Wow.
Swiss say if USB collapase will take down the rest of the country. Wow.
Regulators Shut Down Banks In 5 States
Regulators Shut Down Banks In 5 States
Is it me or is the beat increasing? 15 so far this year.
Is it me or is the beat increasing? 15 so far this year.
Jeff Saut: We're Just Half Way Through A Typical "Selling Stampede"
Jeff Saut: We're Just Half Way Through A Typical "Selling Stampede"
Betting on SP 900 before Feb 25 :)
Betting on SP 900 before Feb 25 :)