Economy
Related: About this forumSTOCK MARKET WATCH -- Thursday, 13 September 2012
[font size=3]STOCK MARKET WATCH, Thursday, 13 September 2012[font color=black][/font]
SMW for 12 September 2012
AT THE CLOSING BELL ON 12 September 2012
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Dow Jones 13,333.35 +9.99 (0.07%)
S&P 500 1,436.56 +3.00 (0.21%)
Nasdaq 3,114.31 +9.78 (0.32%)
[font color=red]10 Year 1.76% +0.02 (1.15%)
30 Year 2.92% +0.02 (0.69%) [font color=black]
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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]
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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
[/center][font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]
Demeter
(85,373 posts)Friday approaches...OCCUPY is one year old! Let's celebrate!
It's also Euchre night, and I'm going regardless. Expect a late Weekend start.
Demeter
(85,373 posts)We did it! But now we need your help putting pressure on Obama.
A federal court in New York just ruled indefinite detention UNCONSTITUTIONAL and issued a permanent injunction against use of that law. It would have allowed the military to detain civilians -- even Americans -- indefinitely and without trial if they're accused of certain crimes.
Please click here: http://act.demandprogress.org/letter/ndaa_lawsuit_win/?akid=1472.438811.kIkxFG&rd=1&t=2 to tell Obama to back off of his support of indefinite detention, and tell your senators to oppose it when it comes up for a vote this fall.
It's an egregious violation of the Constitution, a disgusting infringement upon our due process rights, and has already had a chilling effect on activists and journalists.
That's why writer Chris Hedges, Noam Chomsky, Tangerine Bolen and four others sued to block it.
Shockingly, the Obama administration has consistently supported indefinite detention this year -- signing it into law in the dark of night on New Year's Eve and defending it in court.
If we don't do anything, they'll probably keep fighting to protect this law!
... please forward this email or use these links to share it with your friends -- Obama will make the decision about an appeal in a matter of days.
Fuddnik
(8,846 posts)True American patriots and heroes.
Of course the Administration will appeal. They never like to give up power. And Damn Levin and McCain to Hell for inserting it. A so-called "liberal" and "maverick".
For this, I'll pour a drink and toast the plaintiffs. And the judge.
westerebus
(2,976 posts)This woman deserves a NOBEL PEACE PRIZE. I think there's one hanging around that was slightly used. Pun intended.
Roland99
(53,342 posts)Demeter
(85,373 posts)Japans massive government debt conceals massive benefits for the Japanese people, with lessons for the U.S. debt crisis.
In an April 2012 article in Forbes titled If Japan Is Broke, How Is It Bailing Out Europe?, Eamonn Fingleton pointed out the Japanese government was by far the largest single non-eurozone contributor to the latest Euro rescue effort. This, he said, is the same government that has been going round pretending to be bankrupt (or at least offering no serious rebuttal when benighted American and British commentators portray Japanese public finances as a trainwreck). Noting that it was also Japan that rescued the IMF system virtually single-handedly at the height of the global panic in 2009, Fingleton asked:
The betting is that Japans true public finances are far stronger than the Western press has been led to believe. What is undeniable is that the Japanese Ministry of Finance is one of the most opaque in the world . . . .
Fingleton acknowledged that the Japanese governments liabilities are large, but said we also need to look at the asset side of the balance sheet:
Its a good deal for the Japanese government: it can borrow 10-year money at 1 percent and lend it to the U.S. at 1.6 percent (the going rate on U.S. 10-year bonds), making a tidy spread.
Japans debt-to-GDP ratio is nearly 230%, the worst of any major country in the world. Yet Japan remains the worlds largest creditor country, with net foreign assets of $3.19 trillion. In 2010, its GDP per capita was more than that of France, Germany, the U.K. and Italy. And while Chinas economy is now larger than Japans because of its burgeoning population (1.3 billion versus 128 million), Chinas $5,414 GDP per capita is only 12 percent of Japans $45,920.
How to explain these anomalies? Fully 95 percent of Japans national debt is held domestically by the Japanese themselves.
Over 20% of the debt is held by Japan Post Bank, the Bank of Japan, and other government entities. Japan Post is the largest holder of domestic savings in the world, and it returns interest to its Japanese customers. Although theoretically privatized in 2007, it has been a political football, and 100% of its stock is still owned by the government. The Bank of Japan is 55% government-owned and 100% government-controlled. Of the remaining debt, over 60% is held by Japanese banks, insurance companies and pension funds. Another chunk is held by individual Japanese savers. Only 5% is held by foreigners, mostly central banks. As noted in a September 2011 article in The New York Times:
The Japanese governments debt is the peoples money. They own each other, and they collectively reap the benefits.
Myths of the Japanese Debt-to-GDP Ratio
Myths About Quantitative Easing
Myths About the Lost Decade
Implications for the Fiscal Cliff
DETAILS AT LINK
Fuddnik
(8,846 posts)Great Recession still slamming the middle class
By John W. Schoen, NBC News
The poor stayed poor and the rich got richer, but the middle slipped a few more rungs down the economic ladder.
More than five years after the Great Recession began, the lingering impact of the worst downturn in a half-century continues to deplete the standard of living of middle-class American households.
Median household income, after adjusting for inflation, fell 1.5 percent last year to $50,054, according to the Census Bureau's annual report on income and poverty issued released Wednesday. The poverty rate, at 15 percent, remained stuck at the highest level since 1993.
For Ray Bober, 45, of Pittsburgh, whose unemployment benefits ran out this year after a family printing business failed several years ago, the dismal economy takes a toll every time he sends out another resume that goes nowhere.
You have to learn to roll with the punches and laugh a little; its very depressing, he said. It takes a toll, especially this long. You want to reach out and shake your fist in the air and blame someone, but you cant. The way it is, is the way it is. Theres nothing you can do about it but stay in the fight."
For millions of middle-class American households, the fight began well before the Great Recession destroyed more than 8 million jobs, or even before the financial collapse in 2008 that gave birth to the downturn. Median household income, adjusted for inflation, has been dropping for 13 years.
(snip)
http://economywatch.nbcnews.com/_news/2012/09/12/13830939-great-recession-still-slamming-the-middle-class?lite
DemReadingDU
(16,000 posts)9/12/12 Gas prices hit $9.99 in protest by station owners in N.J.
By Jonathan Berr, NBC News contributor
Durango Weeks of Lawnside, N.J., didnt think there was anything unusual this afternoon when he pulled into a Lukoil station outside Philadelphia until he took a look at the price, which stunned him. It was $9.99 a gallon. My (fuel) light was on, he said, adding that had he noticed the price he would have filled up elsewhere. Weeks had stumbled on an unusual protest by more than 50 Lukoil franchise owners in New Jersey and Pennsylvania who more than doubled their prices to protest what they consider to be the unfair practices of the Russian-owned oil company.
At issue is Lukoils practice of zone pricing, in which the company sells gasoline to stations in close proximity to one another at prices that can vary by as much as 25 cents a gallon, according to the New Jersey Gasoline-Convenience-Automotive Association. The practice is driving customers to buy their gasoline at cheaper stations, eroding the business at Lukoil franchises, according to the franchisees.
I feel they have been gouging us, said Kay Kezbari, who owns a franchise in the Philadelphia suburb of Mount Laurel, N.J, adding that his colleagues have been begging Lukoil to lower prices. We are not looking to get rich. I am trying to survive. Kezbari's usually busy station was mostly deserted Wednesday, although a few motorists were filling up, perhaps not noticing the posted price.
Lukoil, for its part, accused the the trade group of distorting its views. The company defended zone pricing in a statement as a commercially reasonable practice used by gasoline marketers for many years, which is fully compliant with New Jersey statutes." A company spokesman could not immediately be reached for further comment.
Though most gas station owners depend for their profits on convenience items rather than fuel sales, they depend on gas to draw customers in so they can purchase higher-margin items and services such as automotive repair. Franchisees, many of whom are immigrants, usually invest six figures in their businesses including yearly fees.
The action by the Lukoil station owners is unprecedented and represents the culmination of years of frustration with the oil company, said Sal Risalvato, executive director of the station owners group. They have suffered with image problems and high prices that are making them uncompetitive, he said. Enough is enough. The protest will end after 24 hours, although station owners will consider future pricing actions if their demands are not met, Risalvato said.
http://bottomline.nbcnews.com/_news/2012/09/12/13834575-gas-prices-hit-999-in-protest-by-station-owners?lite
newfie11
(8,159 posts)Here in the western Nebraska diesel is higher than gas.
Either way these prices are inexcusable.
DemReadingDU
(16,000 posts)Roland99
(53,342 posts)* LABOR DEPT- SEVERAL STATES REPORTED INCREASES IN INITIAL CLAIMS FOR SEPT 8 WEEK DUE TO TROPICAL STORM ISAAC, AMOUNTING TO APPROXIMATELY 9,000 IN UNADJUSTED TERMS
* US CONTINUED CLAIMS FELL TO 3.283 MLN (CONS. 3.318 MLN) SEPT 1 WEEK FROM 3.332 MLN PRIOR WEEK (PREV 3.322 MLN)
* US JOBLESS CLAIMS 4-WK AVG ROSE TO 375,000 SEPT 8 WEEK FROM 371,750 PRIOR WEEK (PREVIOUS 371,250)
* US JOBLESS CLAIMS ROSE TO 382,000 SEPT 8 WEEK (CONSENSUS 370,000) FROM 367,000 PRIOR WEEK (PREVIOUS 365,000)
Roland99
(53,342 posts)* LABOR DEPT-OVER 80 PCT OF AUG PPI RISE DUE TO INCREASE IN ENERGY PRICES
* U.S. AUG YEAR-OVER-YEAR PPI +2.0 PCT (CONS +1.4 PCT), CORE +2.5 PCT (CONS +2.6 PCT)
* U.S. AUG PPI EXFOOD/ENERGY +0.2 PCT (CONS +0.2 PCT) VS JULY +0.4 PCT
* U.S. AUG PPI +1.7 PCT, LARGEST RISE SINCE JUNE 2009 (CONSENSUS +1.1 PCT), VS JULY +0.3 PCT
Roland99
(53,342 posts)DOW -0.2%
NASDAQ -0.1% [/font]
Roland99
(53,342 posts)MF OFFICIALS SAY GREECE WILL NEED A THIRD BAILOUT
IMF SAYS GREECE CAN'T FILL FUNDING GAP ON ITS OWN, UP TO EUROZONE AND ECB TO FIND MONEY FOR GREECE
GREECE MET ONLY 22% OF PROGRAM TARGETS FOR 2011
EURO EXIT WOULD SET GREECE BACK BY MANY DECADES
http://www.zerohedge.com/news/and-todays-most-shocking-headline-we-have
"Greece will require additional financing, which may take the form either of official-sector involvement or of additional loans, hopefully on more favorable terms," Thanos Catsambas, an IMF alternate executive director, who represents Greece at the Fund's board, said in an interview.
...
The creditors are unanimous that this is Athens' last chance if the financing is to continue. Without the loan payment, the government would run out of cash in a matter of weeks and would have to find new ways of meeting its current obligations, such as pensions and public-sector wages. In an extreme scenario, this may require leaving the euro zone and printing a new currency.
Mr. Catsambas called this last option "an undesirable eventuality that will set the country back many decades."
Fuddnik
(8,846 posts)AnneD
(15,774 posts)Roland99
(53,342 posts)Ghost Dog
(16,881 posts)WAPO - By Zachary A. Goldfarb, Updated: Thursday, September 13, 1:56 PM
The Federal Reserve is poised on Thursday to open a new offensive in the battle to reduce unemployment, with many economists predicting that the U.S. central bank will take its most significant steps in years to speed up the nations economic recovery.
The Fed is widely expected to deliver a range of stimulus when it announces the results of its two-day policymaking meeting at 12:30 p.m. Thursday. The central bank is all but certain to extend its plan to keep interest rates ultra-low into mid-2015. Currently it plans to do so only until late 2014.
There is also a good chance that the Fed will announce a new round of bond purchases, this time likely targeting the mortgage market. The bank could announce that it is buying a set amount of mortgage bonds over a fixed period of time likely hundreds of billions of dollars over a number of months or keep the program open-ended, promising to continue to stimulate the economy until it gets significantly better.
In totality, the programs would likely bring down interest rates which are already at record lows to support lending, borrowing and spending. But economists do not believe the measures are likely to speed economic growth much or the decline in the 8.1 percent unemployment rate.
/... http://www.washingtonpost.com/business/economy/fed-expected-to-announce-stimulus-thursday/2012/09/13/38a31be2-fda4-11e1-8adc-499661afe377_story.html
Roland99
(53,342 posts)* US TREASURY - PRIMARY DEALERS TAKE $6.36 BLN OF 29-YEAR 11-MONTH BONDS SALE, INDIRECT $5.03 BLN
* U.S. 29-year 11-month bond BID-TO-COVER RATIO 2.68, NON-COMP BIDS $10.05 MLN
* U.S. SELLS $13 BLN 29-YEAR 11-MONTH BONDS AT HIGH YIELD 2.896 PCT, AWARDS 70.84 PCT OF BIDS AT HIGH
Good auction...send MBS pricing up a few ticks and dropped 10yr bond yields about .5bps
Response to Ghost Dog (Reply #16)
jtuck004 This message was self-deleted by its author.
bread_and_roses
(6,335 posts)since if it doesn't, having provided no alternative narrative to the essentially R mantra of "trickle down" and no help for ordinary working people, with now - did I just hear something like 46 MILLION in poverty in US? With goddess knows how many un/under-employed. If things get significantly worse, what option will they see other than to change drivers? It's not as if "our side" is giving them the real picture on the obscene transfer of wealth, or hasn't been complicit in it.
*William Butler Yeats (1865-1939)
THE SECOND COMING
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
Surely some revelation is at hand;
Surely the Second Coming is at hand.
The Second Coming! Hardly are those words out
When a vast image out of Spiritus Mundi
Troubles my sight: a waste of desert sand;
A shape with lion body and the head of a man,
A gaze blank and pitiless as the sun,
Is moving its slow thighs, while all about it
Wind shadows of the indignant desert birds.
The darkness drops again but now I know
That twenty centuries of stony sleep
Were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?
Egalitarian Thug
(12,448 posts)"The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity."
"And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?"
We all know that this cannot continue indefinitely, but we all keep hoping that it will hold long enough for us.
AnneD
(15,774 posts)stimulus for Wall Street, KY jelly for the rest of us.
Egalitarian Thug
(12,448 posts)AnneD
(15,774 posts)abrasive. Read the labels again, that blue package has a little d and takes a bit longer to get the same results as the red version.
Roland99
(53,342 posts)Mr. Smith's memoir, "Why I Left Goldman Sachs," is set for publication on Oct. 22. The release date comes just seven months after Mr. Smith publicly resigned from the bank with an Op-Ed page article in The New York Times that detailed his disappointment with Goldman's business practices that reflected, more broadly, a corrosive culture at the nation's largest banks.
...
His book comes at an inopportune moment for Goldman, which has largely disappeared from the spotlight after a wave of negative publicity damaged the bank's reputation.
...
"Why I Left Goldman Sachs" promises to be a tell-all of Mr. Smith's 12-year career at the bank. His opinion article in The Times described Goldman as a once-vaunted institution that had lost its way. He wrote that when he first joined the bank as an intern in the summer of 2000, it obsessively put its clients' interests first.
But over time, Mr. Smith said, Goldman devolved into a "toxic and destructive" culture that put profit before principle. His former colleagues mocked their clients, he said, derisively referring to them as "muppets."
Roland99
(53,342 posts)*FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'
*FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE
*FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END
*FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'
*FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015
DemReadingDU
(16,000 posts)Until it blows up
Roland99
(53,342 posts)Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions. Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee also anticipates that inflation over the medium term likely would run at or below its 2 percent objective.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. These actions, which together will increase the Committees holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens. In particular, the Committee also decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that exceptionally low levels for the federal funds rate are likely to be warranted at least through mid-2015.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H. Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who opposed additional asset purchases and preferred to omit the description of the time period over which exceptionally low levels for the federal funds rate are likely to be warranted.
Roland99
(53,342 posts)FED SEES LONG-RUN JOBLESS RATE AT 5.2 TO 6.0 PCT (PVS 5.2-6.0 PCT); GDP AT +2.3-2.5 PCT (PVS +2.3-2.5 PCT)
FED CUTS FORECAST FOR 2012 GDP GROWTH, HOLDS STEADY FORECAST FOR 2012 UNEMPLOYMENT RATE, FORECAST FOR 2012 CORE INFLATION LITTLE CHANGED
FED CUTS FORECAST FOR UNEMPLOYMENT IN 2014
FED SAYS 12 OFFICIALS WOULD PREFER FIRST RATE HIKE IN 2015 (PREVIOUS 6)
Ghost Dog
(16,881 posts)ie. new unsterilised debt/liquidity, right?
What about the velocity and degree of dispersion in the wider real economy of all this lubricant?
Hotler
(11,396 posts)Wow! just Wow! Make it stop. My head hurts.
DemReadingDU
(16,000 posts)9/13/12 per Denninger...
.
.
.
Bernanke took this action, in my opinion, in an attempt to find the last few points on the stock market because he knows, as does the rest of the FOMC, that Europe (and China, for that matter) is about to blow -- and that we're simply not making any progress economically. Therefore he felt compelled to "do something", even if the "something" is economically pointless, simply to avoid the stock market throwing a temper tantrum.
In the end the bottom line is that The Fed has shot its last bullet and it was a dud, as it is simply impossible for them to provide effective policy accommodation at this point in the cycle.
http://market-ticker.org/cgi-ticker/akcs-www?post=211452
Uh oh
Egalitarian Thug
(12,448 posts)AnneD
(15,774 posts)would referr to that as a triple H enema....High, Hot, and a Helluva lot.
jtuck004
(15,882 posts)NJ woman charged with fatal penis enlargement injection pleads not guilty to manslaughter, Here]
Notice that the Bernanke has quit calling it "quantitative easing", now LSAP Maybe too many people figured out who was actually being eased?
*FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'
*FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE
*FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END
*FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'
*FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015
This is just a thinly-disguised austerity program, trickle-down economics, keeping the assets of the very wealthy (such as Mi$$ Rmoney) inflated in hopes that they won't crash. There isn't thought one of the working person, which is why we have 46 million people in poverty, and are about to see figures which show more middle-wage jobs lost and more working poor than we started with in 2009. It's why this funeral-by-funeral recovery is allowing student tuition to rise to usurious rates, and 10 million mortgages are in trouble, with more on the way. We are actively living with the replacement of millions of middle-wage with low-wage jobs, or nothing - and people are cheering about more jobs.
or here
Majority of New Jobs Pay Low Wages, Study Finds,
Here.
I read where "Bernanke Says We Don't Have Tools Strong Enough to Solve the Unemployment Problem Yet Does QE3" Here.
Liar. (Competing with Paul Ryan?)
This person knew better:
So did this one.
Then again, they weren't out to blow smoke up the ass of the American people, generating excuse after excuse to support their banker friends at the expense of single mothers and fathers, hungry children, people who want to work. I have read that people who suggest there might be another path "just want a pony".
Maybe it's because they need to kill and eat it.
Better vote Democratic. We are told the alternative is much worse.
Demeter
(85,373 posts)The fairies are on coke.
Tansy_Gold
(17,847 posts)I prefer pepsi.
Then again, I'm not a DJ fairy. . . . .
Demeter
(85,373 posts)Hugin
(33,059 posts)I step out for a few moments of "me time" and y'all go nuts!
Demeter
(85,373 posts)I've just been released from the sisterly chain gang. And now, I have to go back to my usual laborious life.....
Tansy_Gold
(17,847 posts)I was sane to begin with?