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Papaswamp

Papaswamp
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  • Understanding the 'Improvement' in Employment Numbers [View article]
    NSA numbers have been rising since July. There seems to be a disconnect....
    Nov 26 12:58 PM | Likes Like |Link to Comment
  • Jobless Claims Drop for 12th Week, Falling Below 500,000 [View article]
    The NSA numbers rose again to +540,000.

    "The advance unadjusted insured unemployment rate was 3.8 percent during the week ending Nov. 14, an increase of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 5,070,712, an increase of 187,642 from the preceding week. A year earlier, the rate was 2.8 percent and the volume was 3,782,040."

    Says it all.
    Nov 25 03:14 PM | 2 Likes Like |Link to Comment
  • Initial Jobless Claims: 505K vs. 506K expected, 505K prior (revised from 502K). Continuing claims -39K to 5,611,000  [View news story]
    notice previous weeks was revised up ...again.
    Nov 19 08:46 AM | Likes Like |Link to Comment
  • Chinese and U.S. regulators are reportedly negotiating an agreement aimed at encouraging Chinese firms to buy into small and medium-sized U.S. banks, something Chinese bankers complain has been difficult for them in the past. The shift highlights how the global financial landscape has been redrawn post crisis, with cash-rich Chinese banks now a force to be reckoned with.  [View news story]
    Good gosh can they own any more of US?
    Nov 17 09:21 AM | Likes Like |Link to Comment
  • Oct. Industrial Production: +0.1% vs. +0.3% expected, +0.6% prior (revised from +0.7%). Capacity utilization +0.2 to 70.7%.  [View news story]
    Utilities saved the day to keep the number positive...everything else declined. Oh yea definite recovery.
    Nov 17 09:21 AM | Likes Like |Link to Comment
  • Recent Economic Data Puts Focus on Viability of Sustainable Recovery [View article]
    U-6 numbers were disastrous for Oct..

    The NSA numbers for unemployment:
    10/17/2009 460,430
    10/24/2009 494,394
    10/31/2009 482,542
    11/7/2009 529,446

    As reported in another post...
    "for the past three months, an average of 196,000 payroll jobs were lost per month, but an average of 401,000 non-payroll jobs were lost per month"
    seekingalpha.com/artic...

    This is why confidence has stalled. Wall Street has completely decoupled from Main Street. Why Wall Street would discount 2/3rds of the economy (the consumer aka Main Street) is beyond me. And just out Q3 mortgage delinquency rates hit another all time high.
    newsroom.transunion.co...
    Nov 17 08:21 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    ICSC-Goldman down 0.1% second week in a row...stimulus has run out I guess.
    Nov 17 07:57 AM | 2 Likes Like |Link to Comment
  • Meredith Whitney Hasn't Been This Bearish in a Year [View article]
    The only reason companies are making a profit is cutting workforce and slashing inventories. How many companies are actually seeing revenue growth due to demand as opposed to due to cutting? Certain companies with substantial overseas markets seem to be the only ones. Domestically we are still down trending.
    The market seems completely domestically decoupled from main street.
    Nov 17 06:34 AM | 10 Likes Like |Link to Comment
  • China says the Fed is endangering global recovery with its insistence on keeping domestic interest rates near zero for the next 12-18 months. China's chief bank regulator rebuked the U.S. for fueling speculative capital flows that may spur asset-price inflation, which he said has already led to massive dollar arbitrage speculation.  [View news story]
    Think China will start unloading US debt as a signal it is serious, because I'm sure our illustrious leader will just ignore China's concerns.
    Nov 16 11:18 AM | Likes Like |Link to Comment
  • Despite What You May Have Heard, There's Hiring Going On [View article]
    The good Dr. is using BLS SA U-3 numbers from last year (July 08-July09) numbers. Not buying it.

    Major corps are still cutting, and small businesses are going out of business.
    Nov 16 10:49 AM | 4 Likes Like |Link to Comment
  • In an interview over the weekend, Sony (SNE) CEO Howard Stringer said the consumer electronics industry continues to languish and that "we are waiting for a signal that hasn't arrived." Stringer noted a stronger yen and tougher competition from Korea and China had hurt the Japanese market, while in the U.S. he warned the recovery "will be neither a V nor a W, but an L."  [View news story]
    I think he is completely correct...we are in for an L
    Nov 16 09:30 AM | 1 Like Like |Link to Comment
  • JP Morgan Invents New U.S. Employment Numbers [View article]
    No shock. the Government and many on Wall Street are trying the "if we tell them enough times, it will become true". Tact. The problems really are on main street. So many are in debt, so many have lost money, so many have depleted their savings, there isn't anything left for the '70% consumer based economy' to spend. Without the unemployed going back to work, and those remaining employed too scared to go out and spend the economy is seized up at a low level...or worse which I try not to think of.
    Nov 13 08:24 AM | 9 Likes Like |Link to Comment
  • Job Market Is Healing, But Too Slowly [View article]
    I couldn't disagree more. Job losses continue to increase. Read the NSA numbers not the government manipulated ones.

    10/17/2009 460,430
    10/24/2009 494,394
    10/31/2009 482,542
    11/7/2009 529,446
    Nov 13 08:14 AM | Likes Like |Link to Comment
  • New Unemployment Claims Coming Down [View article]
    Notice the non-government massaged numbers (NSA) keep rising.
    Nov 13 08:07 AM | 2 Likes Like |Link to Comment
  • Lenders are moving quickly to restructure commercial loans under controversial new guidelines that give them more favorable regulatory treatment. Sources say Citigroup (C), Whitney (WTNY) and others are reviewing nonperforming loans to determine if they qualify for reclassification. The new guidelines will apply to $110-130B of the $550B or so of underwater CRE loans.  [View news story]
    Keep lying to the investor...nice.
    Nov 11 10:40 AM | 1 Like Like |Link to Comment
COMMENTS STATS
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