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Old 06-01-2012, 08:50 AM   #1
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Default Rotten Jobs Numbers For May

No doubt about it, that is an ugly monthly jobs number:

United States Non Farm Payrolls
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Old 06-01-2012, 09:34 AM   #2
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Default Re: Rotten Jobs Numbers For May

The April number was revised down by 38k and the March number was revised down another 11k.
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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
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Old 06-01-2012, 10:55 AM   #3
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Default Re: Rotten Jobs Numbers For May

GDP revised down as well.

It's not a good number, but at least it's positive. I keep reading more and more about a potentially difficult year in 2013. That the issues in Europe, combined with the economic declines in India and China, will make 2013 a very difficult one. I sure as heck hope that isn't true, but on the surface, you can see where a slowdown in those parts of the country would have to have ramifications globally.
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Old 06-01-2012, 11:06 AM   #4
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Default Re: Rotten Jobs Numbers For May

Already knew this without seeing numbers ... just talking to business people every day and you know those numbers before they come out. People are not spending because they are not earning and they are not earning because people are not spending ... vicious cycle to break from.
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Old 06-01-2012, 11:06 AM   #5
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Default Re: Rotten Jobs Numbers For May

The banks are going to have another problem soon:

News Headlines

Quote:
US and European regulators are essentially forcing banks to buy up their own government's debt—a move that could end up making the debt crisis even worse, a Citigroup analysis says.



Regulators are allowing banks to escape counting their country's debt against capital requirements and loosening other rules to create a steady market for government bonds, the study says.

While that helps governments issue more and more debt, the strategy could ultimately explode if the governments are unable to make the bond payments, leaving the banks with billions of toxic debt, says Citigroup strategist Hans Lorenzen.


If/when the ***** hits the fan the pols will blame the bankers
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Old 06-01-2012, 11:50 AM   #6
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Quote:
Originally Posted by IcyPatriot View Post
Already knew this without seeing numbers ... just talking to business people every day and you know those numbers before they come out. People are not spending because they are not earning and they are not earning because people are not spending ... vicious cycle to break from.
It's strange because just today I was at the supply yard, which I never go to anymore, and I was talking to the owner who I hadn't seen in years. He told me this has been his busiest year since 2006. Granted it's only June 1st, but still. He saw 5 straight years of decline, and a 1% increase last year. This year, so far, he's up double digits in sales. He, like we, actually saw bad numbers in 2006, before the bottom fell out on the economy. It's why we sort of insulated ourselves for the coming years. I mention this because for us, this year has been much slower than last. We had a good run last year, but are down in comparision this time around. I guess it's a sort of microcosm of the overall economy. Slow, sluggish, uneven, good and bad, hard to predict, etc.

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The banks are going to have another problem soon:

News Headlines





If/when the ***** hits the fan the pols will blame the bankers
Banks are knee deep in blame pie. Lots of different people own a slice or two.

I saw the 10 year is at 1.58%. Yikes.
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Old 06-01-2012, 12:18 PM   #7
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Default Re: Rotten Jobs Numbers For May

its dubya's fault
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Old 06-01-2012, 12:20 PM   #8
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Default Re: Rotten Jobs Numbers For May

Quote:
Originally Posted by Real World View Post
I saw the 10 year is at 1.58%. Yikes.

Actually, it's now at 1.475%.

I'm 2 yrs into a 30 yr fixed at 3.75% and I'm torturing a couple of mortgage brokers the past few days about getting me a refi to 3.25%. As in Chinese, the word for "crisis" and "opportunity" is the same.
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Old 06-01-2012, 12:36 PM   #9
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Default Re: Rotten Jobs Numbers For May

There are 5 more jobs reports before the election with the most crucial likely being October's which is usually released on the first Friday of the month ( Fri Nov 2) right before the election.....
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Old 06-01-2012, 12:51 PM   #10
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Default Re: Rotten Jobs Numbers For May

Quote:
Originally Posted by shmessy View Post
Actually, it's now at 1.475%.

I'm 2 yrs into a 30 yr fixed at 3.75% and I'm torturing a couple of mortgage brokers the past few days about getting me a refi to 3.25%. As in Chinese, the word for "crisis" and "opportunity" is the same.
you paid points.....
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