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>The Great Banking Swindle of 2009


Brace yourself! Here comes …

Washington and Wall Street are now fully engaged in a shameless shell game specifically designed to deceive millions.

Savers and investors who believe the hype are about to be set up for massive losses and searing financial pain in the months ahead.
Here’s what you MUST do NOW to get your money to safety before it’s too late:
Martin Weiss, PhD
Washington and Wall Street are now playing a financial con game that would make an Enron executive turn green with envy:
Last Friday, I warned you that the bank “stress tests” now being conducted by Washington are little more than a shameless hoax: Based on the irrational assumption that the economy won’t get as bad as it already is!
The regulators’ notion of “stress” is a 3.3 percent economic contraction and 8.9 percent unemployment in 2009 …
But the economy is already shrinking at the annual rate of 5 percent and unemployment is already at 8.4 percent with the Obama administration itself warning that it could hit 10 percent this year!
Worst of all, as I documented in this morning’s Money and Markets, the rosy earnings that banks announced last week are based on jury-rigged accounting rules:
Rules that allow the banks’ accountants to simply wave a magic wand and …
  • Instantly inflate the book value of toxic assets they own …

  • Miraculously vaporize liabilities they are responsible for, and …

  • Magically erase billions of losses in their quarterly reports – treat them like they never even happened.
Put simply, Washington and Wall Street are now so terrified by the true condition of America’s banks, they have resorted to COOKING THE BOOKS!
Their goal is to try to restore confidence. But ultimately, the true consequence is to shatter trust … and in the meantime, promote the fleecing of millions of savers and investors who allow themselves to be seduced by this shameless scam.
WHY are Washington and Wall Street
engaging in this blatant deceit?
Because they already know the TRUTH
— and it has them TERRIFIED!
This is why I’ve warned you that, in the next phase of this crisis, hundreds of banks and other lenders will be pushed to the brink — and OVER the brink — demanding hundreds of billions of dollars; perhaps even trillions in new bailouts.
This is why I’ve repeatedly warned you that the recent stock market rallyuse it to dump stocks before it’s too late. was nothing more than a dead cat bounce — a bear market trap — and urged you to
And this is why I’m doing everything in my power to end these disastrous bailouts.
Here’s what I’m asking you to do — for yourself, your family, your community, our nation and also for the most helpless victims of this crisis:
Click this link now to get your personal copy of my new book, The Ultimate Depression Survival Guide and begin getting your family to safety. And while you’re ordering, don’t forget to get extra copies for your family, friends and neighbors — as well as one for your Congressional representatives and for President Obama.
Now, after burning up the sales charts and becoming a best-seller at Amazon and other online booksellers, I’m gratified to announce that …
The Ultimate Depression Survival Guide

>Employers Slashed 533,000 Jobs In November


WASHINGTON – Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.
The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays. The net loss of more than a half-million jobs was far worse than analysts expected.
As companies throttled back hiring, the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high.
“These numbers are shocking,” said economist Joel Naroff, president of Naroff Economics Advisors. “Companies are sharply reacting to the economy’s problems and slashing costs. They are not trying to ride it out.”
 Both the number of unemployed persons (10.3 million) and the unemploy-
ment rate (6.7 percent) continued to increase in November. Since the start
of the recession in December 2007, as recently announced by the National
Bureau of Economic Research, the number of unemployed persons increased by
2.7 million, and the unemployment rate rose by 1.7 percentage points