Jump to 500k in Unemployment

Discussion in 'Wall St. News' started by EMRGLOBAL, Aug 19, 2010.


    OBAMA will save you!

    But to be serious. The increase in jobless apps were expected by smart money.

    This is not a recovery but a dead cat bounce pushed by stimulis....and GOV intervention. All the GOV idiots did...prolong the pain that is coming down the pike.

    Lets see how the INDU reacts....could we break 10K today?
  2. Does weekly jobless claims mean 500, 000 lost jobs last week or is it a carry over that increased slightly. Appreciate a reply.
  3. DOW will down another 100 points today :( :( :(
  4. Hmmm, maybe it has to do with our U.S. Agency for International Development spending $10- 36 million to train Sri Lankans for advanced IT skills and to learn English better. We, as taxpayers, are paying to export our jobs. Don't believe it, read a small blurb in Information Week Aug. 9 issue.
    Hey that's ok, they are just jobs, and who needs one?
  5. THIS IS A RECOVERY. Just not main street. It is a recovery for Wall Street. Actually, they never have a problem anyway. We, the tax payers bailed them out.
  6. While Wall St. has it's problems, it's not THE problem.. which is globalization and outsourcing... resulting in a permanent surplus of labor. (It doesn't HAVE to be permanent, but it is because Congress doesn't have the balls to do what's necessary.)
  7. Here is some positive indications for those of us on Elite who deal on a Global Scale.

    "The Shanghai Composite Index closed at a three-month high and the Bombay Stock Exchange's Sensitive Index, India's benchmark stock index, rose to a 30-month high, noted Peter Boockvar, an equity strategist at Miller Tabak.

    "The US market response to the data is clearly very US specific now," said Boockvar. "There are some signs that the global recovery is happening, but much more in the US in fits and starts and much more clearly outside of the US."

    Since I started dealing with the "Global" freight Forwarding and Manufacturing Sectors...I have found a much more positive outlook from their end. Even in Greece. However, they are still aware of Risk and have lowered their Lines of Credit to each other.

    Most wish America the best but they also tell me, that their business isn't suffering to the extent of making them worry on their US front. It has slowed down, but no big deal, they have seen it before.

    The rest of the world has delt with High unemployment numbers for decades. The news coming out of the US does not really concern them on the Unemployment numbers or consumers spending. Asia is picking up fast and so is Latin America.

    If I were to read between the lines, I would say they are saying, welcome to the club of high unemployment and class seperation. Deal with it. In other words, you have now been introduce to Socialism in a Ad HOC manner by your politicians....go make money and not fall into poverty.

    But that is my take, from what many of my clients are telling me.
  8. This is NOT the congress does not has the balls, it is because they works for corporation instead of the people they are represent.

    Big corporations lobbied or bribed (they called it campaign contribution) congresses to pass globalization and outsourcing. We really need to set term limits and limits the contribution. But I don't think it will stop this sh1t. If you have look at local events, we have many billionaires are running for public offices. They don't need any contribution. The elite finally come out of the shadow and rule us on the daylight.

    The other day I was listen to radio and they mention about corruption in our political system. One of the example was a town mayor of 78 people strong has a salary of 500k/yr. WTF.
  9. Sometimes I wonder if those things can even be separated.

    What is the push for globalization except profitability? Cheaper labor mostly. We ain't selling the world more American goods (as the trade deficit is always showing us).

    So you bust labor, which transfers through the Wall St mechanism into increases in the stock price, which is leveraged through options for upper management to get rich at 300xs the average worker's compensation. As long as you get rewarded for it, you do more of it.
  10. boris68


    dont worried about the unemployment anyway,the USA has the biggest arm power in the world.
    and us doller is and will be the world money!
    you people never be in the too diffcult to bear:D
    #10     Aug 23, 2010