Pat C

Why Reinstating Glass-Steagall Is a Fool's Errand

Very well written and good argument. Sorry, still disagree.

America Plays Shell Game with Bailout Money

OK Angry Banker & FreeMarket, your points are reasonable. However, CITI paying off TARP to allow for bonuses is completly UNREASONABLE. We should follow Europes lead and implement a 50% penalty tax for unreasonable banker bonuses. They are wards of the state completely dependent for their survival not hard working or productive innovators.

Are We Heading Toward a Market Crash by Jobless Recovery?

Good article, I agree that it is no longer a lagging indicator. I believe the best fix is to invest in labor intensive capital improvements that encourage innovation. Energy is the only thing big enough. Financing should be done thru small banks or less desirably thru new government funding source not the too big to fails.

Parsing Thursday's Jobless Claims Report: An Almost Textbook Peak

Good presentation but it is missing emergency extended unemployment claims. The drop in continuing claims is not correct.

Reconfirm Ben Bernanke

No question that Bernanke is a solid citizen that deserves our appreciation for dealing with this mess. However, we need a CEO at the Federal Reserve right now that is committed to fundamentally changing the way the Fed. does business. This organization failed miserably. We need someone that is going to kick a-- and take names to get this organization focused on what is important, allow for reasonable disagreement and verify, verify, verify. An academic does not have the right skill set. Sincerely thank him for his services but let him go.

First Stocks, Then the Economy...Is Job Growth Next?

Good article and discussion. I hope it is a lagging indicator and not a permanent change. We will see.

Obama vs. 'Fat Cats' - Other Options Are Limited

Simply we should collect all the TARP back. Follow Europes lead on the 50% tax on excess compensation. Focus our attention on local bankers.

Citi's Expensive TARP Exit

It has become obvious that shareholders have very little say. Bank of America, Citi, et. al. have no business paying outsized bonuses. We should immediately follow UK & France's lead and initiate the 50% bonus tax. These banks should be strengthening their balance sheets not paying bonuses. If all banks stop paying the bonuses and we subject them to a penalty if they do, the argument of loosing good people is no longer relevant.

Printing Our Way to a Jobs Recovery?

Excellent Statement: "That is, unless we're in the middle of a long deferred, fundamental change for the U.S. economy in which the credit expansion seen at all levels over the last few decades - government, corporate, and personal - can no longer produce growth."

We need targeted INVESTMENT not lending.

Another Week of Explosive Emergency Unemployment Compensation Growth

Thanks TraderMark, I read this yesterday and couldn't believe it I was commenting all over the place. We have a serious structural problem. We need folks like you with a wide reach to keep it out there.

Seasonally-Adjusted Jobless Claims Below 500,000 for Third Straight Week

I hope that soon, good analysis, such as yours, begins to seriously address the magnitude of this problem and it isn't relegated to a "Note" as below & above. We are looking at 10,000,000 individual stories of misery and pain. Again, TEN MILLION!

As pointed out on another website, the number of individuals on extended unemployment will soon (like in the next week or month) exceed those on regular unemployment. We have a major structural economic problem here that needs serious attention by all of us. The only time that is remotely comparable is the great depression. All the other downturns were mere annoyances compared with this one.

"Note: despite 5.1 million as the official jobless role, total unadjusted jobless claims exceeded 10 million because of the extension of unemployment benefits to those who have run out of benefits. This is testament to the weak hiring environment."

Initial Jobless Claims Back Up

I feel like a broken record, but here it is again:

5.157M Regular above
4.586M Extended above

That's 9,743,000 people collecting unemployment. This excludes individuals ineligible for unemployment.

HELLO!!!!!!!!
Are we all getting it?
Major, Major Problem!!!

Is This Just the Beginning of a Depression?

I have posted this elsewhere on SA but please visit zerohedge.com and look at their article on extended benefits. It is absolutely astounding. It sure looks like a depression in the job market. 9.7 million collecting unemployment, not to mention those that don't qualify. See quote below:

"The number you won't hear mentioned anywhere in the Mainstream Media: 327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! So as everyone is focused on the benign picture of initial claims in the last week which was "only" 474,000, the number of people rolling off continuing benefits has exploded and is now a stunning 592,579 only in the last two week. Look for this number to keep going into the stratosphere as the 6 month continuing claims cliff keeps getting hit by more and more people who are unemployed and keep looking not only for believable change, but actual jobs to go with it. ... At this rate those collecting EUC will surpass those on continuing claims (5.5 million) within a month."

Despite Uptick, Unemployment Claims Still Support a Recovery

PS Do the math: 5.5 + 4.2 = 9.7 MILLION collecting unemployment.

Despite Uptick, Unemployment Claims Still Support a Recovery

Please visit zerohedge.com and look at their graph on extended benefits. It is absolutely astounding. Quote below:

"The number you won't hear mentioned anywhere in the Mainstream Media: 327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! So as everyone is focused on the benign picture of initial claims in the last week which was "only" 474,000, the number of people rolling off continuing benefits has exploded and is now a stunning 592,579 only in the last two week. Look for this number to keep going into the stratosphere as the 6 month continuing claims cliff keeps getting hit by more and more people who are unemployed and keep looking not only for believable change, but actual jobs to go with it. ... At this rate those collecting EUC will surpass those on continuing claims (5.5 million) within a month."