So the Empire numbers are worse than expected and expectation was low. The core food prices signal inflation....duhhhh. AGI's have had a little stealth upmove for the last year....wheat was just one that caught the radar. So, we see weakness in manufacturing US wise, and a hint of inflation. Wait til we see what the unemployment numbers are. Sure sure, No Double Dip. (We never got outa the first dip morons.) Sure Sure..BULL MARKET BUY BUY BUY. lets see what the idiots say in the next few days. Pay attention folk...you might catch a few contradictions from your favorit pundit.
40 million Americans are now on Foodstamps Even if Market keeps going up I know that isn't good news because it is going up due to manipulation not excellent economy. What happens when manipulation stops.
Question for you EMR or more likely what are your thoughts. I bought some elec circuit breakers yesterday. It has been years since I have bought any. I noticed they are mfg in Dominican Republic. Now we have shipped out our mfg overseas, that's a given, then why do people emigrate here? The jobs are where they just came from, their home country. We haven't any jobs for the unskilled. If the US outsources jobs for political good will or cheaper labor, what's the point of all these people coming here? A better life? College, ya got me. I Don't know.
A "better" welfare state, where your kids can instantly be citizens and enjoy the finest handouts as well (until the well finally runs dry)? Or maybe it will just take awhile for the aura of being a U.S. resident (legal or not) to fade away.
That's my first thought, I'm hoping this isn't the case. OTH a dollar earned here in the US, sent back home to the family, might be a better deal.
Back to the data--Industrial Production and Capacity Utilization were also worse than expected. If technicals were consistent with fundamentals, we'd see the S&P drop down and at least test 1100 today. However, losses might be more contained if we're still in a fairy tale "all is good" rally mode right now.
Hey Nutmeg, hope all is well. (A "better" welfare state, where your kids can instantly be citizens and enjoy the finest handouts as well (until the well finally runs dry)? Or maybe it will just take awhile for the aura of being a U.S. resident (legal or not) to fade away.) I would have to agree with MK. All the clients I deal with across the Globe say one thing when it comes to immigration, US is the easyest. Chile, Brazil, Peru, Colombia, rest of Latin America and Central America have very harsh, Illegal and Legal Immigration laws. And most have very little support or "Safty" net for you, if your able to immigrate and not find work. They also have a "Class" system. Its very hard to move into "Finance" if your poor in those countries. They are not "Mobile". You can not be born into poverty with the likely hood, if you work hard you will enter into Middle Class or Wealth. That is what the Scumbags who love OBAMA and his bullshit fail to understand. If Obama has his way, they will stay poor without any hope of ever moving up and those who are middle class will be brought down to the poverty level. Change is, equal opportunity to be poor. I know its not easy to rise above the ranks. It's a hard task, takes motivation, takes connections, takes some education, takes faith...but at least you have the "Opportunity". Of course, there is never a quarentee. Unless your OBAMA and his followers...they give you the "Guarentee" of staying poor and the "Guarentee" if your not Wealthy, you will be brought down to the Poverty Level.
I think you are correct. Getting into the US has been the goal for so long, they probably haven't yet realized that the jobs are just not here like they used to be.
many ET traders are still making money and even surpassing 2008 levels, so there is no need to worry about any number
First off, many ET Members are full of shit and make no money, do not trade and if they do they traded 100 shares or 1lots in their 401k, most are 9 to 5ers who sit at their computer, or are "Brokers" who have lost money for their clients and post on ET to make themselves feel good or are people who do not make their earnings in any capacity within the Financial Arena. So, I call bullshit on your statment. Second. "Two new reports out today prove the consequences of oversupply of organic inventory (12.5 months on existing homes in July according to the National Association of Realtors) and the shadow inventory of foreclosed properties (estimates vary widely and wildly). CoreLogic's Home Price Index shows home prices "flat" in July as transaction volume continues to decline. "This was the first time in five months that no year-over-year gains were reported," according to the release. In June, prices were up 2.4 percent year over year. In addition, "36 states experienced price declines in July, twice the number in May and the highest number since last November when prices nationally were still declining." FED's Standing by as more economic "TRUTHS" come out. The Truth is slowly coming to Light.