STOCK MARKET WATCH -- Wednesday, 8 January 2014

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 8 January 2014[font color=black][/font]

SMW for 7 January 2014

AT THE CLOSING BELL ON 7 January 2014
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Dow Jones 16,530.94 +105.84 (0.64%)
S&P 500 1,837.88 +11.11 (0.61%)
Nasdaq 4,153.18 +39.50 (0.96%)


[font color=black]10 Year 2.94% 0.00 (0.00%)
30 Year 3.89% 0.00 (0.00%) [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
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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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
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[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
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.








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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]

1. No cartoon, Tansy?

How shall I live?

[Tansy_Gold]

3. You can't see it? It's there...well .... it was....and now it's back?????

I mean, I can see it, and my name's not Elwood P. Dowd.


Weird. It was there when I saw your post, and now.....it's gone....

Maybe a disallowed hotlink???





Hmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

[Demeter]

5. Weird things happening on the intertubes today

I'm almost certain it's not my computer.

[Demeter]

6. Oh look, there it is!

[DemReadingDU]

7. i see the toon

[Demeter]

2. Looks like somebody took advantage of the weather to goose the DJIA

while every normal person was trying to stay warm and dry.

[Demeter]

4. We should build a separate Wall of Shame for JPMorgan Chase and Jamie Dimon

http://www.npr.org/blogs/thetwo-way/2014/01/07/260442151/jpmorgan-chase-to-pay-1-7-billion-to-madoff-victims?ft=1&f=1001

JPMorgan Chase To Pay $1.7 Billion To Madoff Victims by Eyder Peralta


After striking a deal with federal prosecutors, JPMorgan Chase has agreed to pay $1.7 billion (THAT'S 7.645 CENTS ON THE DOLLAR, FOLKS) to the victims of Bernard Madoff's multibillion-dollar Ponzi scheme. The bank will be criminally charged with two violations of the Bank Secrecy Act and will admit to the violations. But under the agreement, the bank will receive a deferred prosecution. The U.S. Attorney's office for the Southern District of New York is the "largest ever bank forfeiture and largest ever [Department of Justice] penalty for a Bank Secrecy Act violation."

The deal is still subject to court approval.

Madoff... was found guilty of stealing about $13 billion from hundreds of investors.



How Much Has Chase Paid?

Back in November, NPR's Emily Siner tallied up just how much JPMorgan Chase has paid or agreed to pay in fines during the past year. The total came to $29 billion, which means that if you add today's settlement, the fines will exceed $30 billion. To put it in perspective: JPMorgan Chase REPORTED REVENUE OF $23.9 B during the third quarter of 2013.

Here's Emily's breakdown of the settlements:

• $13 billion: The investment company reached a settlement Nov. 19 related to its risky mortgage-backed securities.
  
  
• $4.5 billion: Several days ago, the company agreed to pay investors — including 21 major institutions — for the faulty securities.
  
  
• $1 billion: In September and October, it paid to end investigations into the botched financial transactions of traders in London that cost the company more than $6 billion.
  
  
• $389 million: In September, the bank refunded money to 2.1 million credit-card customers and paid a fine after allegedly misleading and overcharging them.
  
  
• $300 million: In September, it resolved an insurance lawsuit, splitting payment with Assurant Inc.
  
  
• $410 million: In August, it settled allegations that it manipulated US energy markets.
  
  
• $842 million: In June, it agreed to forgive debt owed to it by Jefferson County, Ala., where the company's securities deals led to the county's bankruptcy in 2011.
  
  
• $8.5 billion: In January, 10 banks, including JPMorgan, split a settlement related to wrongful home foreclosures.
  
  
• $9.2 billion: The company's legal fees from its third quarter this year
  
  
• $2.05 billion: In January of 2014, the company agreed to pay $1.7 billion to the victims of Bernard Madoff's multi-billion dollar Ponzi scheme. The bank also agreed to pay a $350 million civil penalty.
  
  
• $543 million: In January of 2014, the company agreed to pay $543 million to settle a class action lawsuit and claims filed by the trustee liquidating Bernard L. Madoff Investment Securities LLC.
  
  

[Demeter]

8. With new year, Medicaid takes on a broader health-care role

http://www.washingtonpost.com/national/health-science/with-new-year-medicaid-takes-on-a-broader-health-care-role/2013/12/31/83723810-6c07-11e3-b405-7e360f7e9fd2_story.html?hpid=z1



...Already the nation’s largest health-care program, Medicaid is being expanded and reshaped by the law to cover a wider array of people. Among them will be many who consider themselves middle class — people such as Sandy Kush, who initially bristled when she learned that she would be joining a program she had always thought of as being only for the poor.

“Maybe it’s like a shame thing. I was raised middle-class. I own my house. It just seems like not me,” said Kush, 49, an unemployed medical transcriptionist in Naperville, Ill., who said she would have preferred to buy a private health plan with the help of a federal subsidy.

AND WITH ANY LUCK, THAT HOME WILL BE FORFEIT TO THE GOVT. UNDER MEDICAID RULES...

...So far, more than 2 million Americans, many previously uninsured, have enrolled in private health plans, thanks in large part to new federal subsidies for low- and middle-income people to buy coverage. Their difficulties in navigating the system since its rocky launch Oct. 1 have dominated the headlines.

A far greater number — about 3.9 million — took steps in October and November to sign up for Medicaid, according to federal figures. That includes people who became eligible for the state-federal program under the expansion as well as those who could have enrolled previously, but for one reason or another did not sign up until now. Although the Medicaid expansion has gotten less attention in recent months, it remains a flash point. The issue has split the nation in half and has become a proxy for the broader debate over the role and responsibilities of government. Twenty-five states and the District expanded Medicaid under the Affordable Care Act. In many of those places, the program will be open for the first time to anyone whose income is below 138 percent of the poverty level — individuals making less than $15,856 a year or a family of four earning under $32,499 in 2013 dollars. That includes childless adults, who were excluded in most states despite a widely held misperception that all poor people automatically qualified for Medicaid.

“The big change is that it really is going to operate the way most people thought it did,” said Judy Solomon, a Medicaid expert at the Center on Budget and Policy Priorities, a think tank focused on policies affecting low- and moderate-income people.

TREMENDOUS AMOUNT OF INFO ON MEDICAID--MUST READ

MEDICAID IS THE BASIS OF A TRUE UNIVERSAL SINGLE PAYER, NOT MEDICARE.

[Demeter]

9. Billionaires: Decline of the West, Rise of the Rest

http://www.informationclearinghouse.info/article36686.htm



Gone are the days when the U.S. accounted for over 40 percent of the world's billionaires, with Western Europe and Japan making up most of the rest....Today, the Asia-Pacific region hosts 386 billionaires, 20 more than all of Europe and Russia combined. In 2013, of the nine countries that are home to over 30 billionaires each, only three are traditional “developed” countries: the United States, Germany, and the United Kingdom.

Next in line after the United States, with its 442 billionaires today? China, with 122 billionaires (up from zero billionaires in 1995), and third place goes to Russia with 110. China’s billionaires have made money from every possible source. Consider the country’s richest man, Zong Qinghou, who made his $11.6 billion through his ownership of the country’s largest beverage maker. Russia’s lengthy billionaire list is led by men who reaped billions from the country’s vast oil, gas and mineral wealth with devastating consequences to the environment. Germany is fourth on the list with 58 billionaires, followed by India (55), Brazil (46), Turkey (43), Hong Kong (39), and the United Kingdom (38). Yes, Turkey has more billionaires than any other country in Europe save Germany.

Moving beyond these top nine countries, Taiwan has more billionaires than France. Indonesia has more billionaires than Italy or Spain. South Korea now has more billionaires than Japan or Australia.

This surging list of billionaires is tribute to the growing inequality in almost all nations on earth. The richest man in the world, for example, is Carlos Slim of Mexico—with a net worth of $73 billion, comparable to a whopping 6.2% of Mexico’s GDP. The world’s third richest person is Spain’s retail king, Amancio Ortega, who has accumulated a net worth of $57 billion in a country where over a quarter of the people are now unemployed....

MORE

[Demeter]

10. California Legislators Introduce Bill To Banish NSA / NOW WE'RE TALKING!

http://www.usnews.com/news/articles/2014/01/07/california-legislators-introduce-bill-to-banish-nsa


Bipartisan CA duo wants to cut NSA's utilities, ban research at state schools and impose sanctions on contractors...Companies with state contracts also would be banned from working with the NSA.

"I agree with the NSA that the world is a dangerous place," state Sen. Ted Lieu, the bill's Democratic co-author, said in a statement. "That is why our founders enacted the Bill of Rights. They understood the grave dangers of an out-of-control federal government."

Lieu said the NSA's surveillance programs pose "a clear and present danger to our liberties."

"The last time the federal government massively violated the U.S. Constitution," he said, "over 100,000 innocent Americans were rounded up and interned."

State Sen. Joel Anderson, a Republican, is Lieu's co-author. The California state senate has 40 members. "I support this bill because I support the Constitution, our Fourth Amendment rights and our freedoms to live in the United States of America," Anderson said. The bill's intent is largely symbolic. Universities might be affected, but the NSA does not currently operate a large data facility in the state.

A similar bill was introduced in Arizona by state Sen. Kelli Ward, a Republican, in December. Ward described her bill as a preventive strike and a way "to back our neighbors in Utah up." The OffNow coalition of advocacy groups is urging Utah lawmakers to pass their own version of the legislation to override the city of Bluffdale's water contract with the NSA's $1.5 billion Utah Data Center. No legislator has publicly announced they will sponsor the bill...The Arizona and California bills are based on model legislation drafted by the Tenth Amendment Center, which organized the OffNow coalition with the Bill of Rights Defense Committee.

"Violations of our basic civil liberties impact us all – Democrats, Republicans and independents alike," Mike Maharrey of the Tenth Amendment Center said. "For all of our political bickering, Americans rally around certain core principles enshrined in our Constitution. It's fitting that Lieu and Anderson are standing together to defend these values."

The California bill would specifically ban the state and its political subdivisions from "providing material support, participation or assistance in any form to a federal agency that claims the power, by virtue of any federal law, rule, regulation or order, to collect electronic data or metadata of any person pursuant to any action not based on a warrant that particularly describes the person, place and thing to be searched or seized."

(RELATED: New Legislation Would Ban NSA From Arizona: http://www.usnews.com/news/articles/2013/12/09/new-legislation-would-ban-nsa-from-arizona )

[Demeter]

11. How a major bank and the U.S. government joined forces to spy on Anonymous

http://www.dailydot.com/politics/bank-of-america-monitoring-activists-online/


New details have surfaced regarding the surveillance protocols used by Bank of America to keep tabs on social activists. Last year, Anonymous hacktivists published 14 gigabytes of private emails and spreadsheets which revealed that Bank of America was monitoring social media and other online services used by activists for basic communication. This time however, information about the bank’s recent surveillance activities were obtained legally through a public records request by a single petitioner. The newly published documents reveal a coordinated effort by Bank of America, the Washington State Patrol (WSP), and federal counterterrorism agencies, to monitor activists as they prepared for a public demonstration in Olympia, Wash. Over 230 people originally signed up to attend the “Million Mask March” event, which was organized by the Anonymous movement and took place on November 5, 2013.

Although an official report by the WSP described the event as a “peaceful protest” being organized by activists who had made “no threats of violence,” those involved were still monitored by the department before the event took place. Information gathered about the potential protesters was then shared with Bank of America. Furthermore, Bank of America solicited information about activists from various federal agencies, including the Federal Bureau of Investigation.

According to Andrew Charles Hendricks, an activist who originally acquired the documents, the emails included the home address of a demonstration organizer. Hendricks claims he redacted the address before publishing the documents online.

The relationship between Bank of America and the WSP, as well as their long-term investment in surveillance, is highlighted by an email sent on September 23, 2013. Kim Triplett-Kolerich, an intelligence analyst for Bank of America requested that WSP share any intelligence gathered on activists taking part in the Million Mask March with the bank. She began the email by identifying herself as a former officer and provided her former rank. “From time to time I will see items that I believe will be of use to my friends at WSP—especially during session,” she told the officer. “May Day I will pick your brain for intel and I will give you a lot also,” she wrote. Triplett-Kolerich concluded her email by boasting that the surveillance tactics used by Bank of America to monitor activists online was superior to that of the WSP. “I will most likely find it first as social media trolling is not what WSP does best. Bank of America has a team of 20 people and that’s all they do all day and then pass it to us around the country!!!”

MORE

[Demeter]

12. At last, a law to stop almost anyone from doing almost anything

http://www.theguardian.com/commentisfree/2014/jan/06/law-to-stop-eveyone-everything

THIS IS IN UK...BLUEPRINT FOR THE WORLD?

[Demeter]

14. How the NSA Almost Killed the Internet

A LONG SCREED OF HIGH TECH COMPANIES CRYING OVER SPILT MILK

INTERESTING SPECULATION

http://www.wired.com/threatlevel/2014/01/how-the-us-almost-killed-the-internet/all/

[Demeter]

13. "Money is Speech" Theatre

http://assets.amuniversal.com/21a21a205a0201316383001dd8b71c47

[Demeter]

15. The world will learn to love the dollar again in 2014

AFTER ALL, WHAT ALTERNATIVE IS THERE?

http://www.marketwatch.com/story/the-world-will-learn-to-love-the-dollar-again-in-2014-2014-01-08?siteid=YAHOOB

The government is prone to occasional shut downs. The trade and budget deficits have been out of control for a decade. It botched the last couple of wars it fought and the central bank has spent the last five years printing more money than anyone even knew existed. There has been no shortage of reasons for the rest of the world to get out of the dollar over the past decade. But in 2014 that is about to change, and decisively so. This will be the year the dollar comes roaring back. Why? There are three reasons.

First, U.S. growth is going to be the fastest in the developed world, and faster even than in many emerging nations. Second, the Federal Reserve is going to at least slow the pace of quantitative easing, even if it does not get rid of it completely. Thirdly, there is a heightened risk of a geopolitical crisis somewhere in the world — and in a crisis investors always flee to the dollar.

(DEMETER'S COUNTER-PREDICTIONS: DOUBTFUL, DOUBTFUL, AND IF THERE IS, THE US WILL INFLICT IT)

The net result will be a big comeback for the American currency. There is no shortage of evidence that the world has been steadily falling out of love with the dollar. In the first few years after it was launched in 1999, the euro gained significant traction as an alternative, taking a rising share of central-bank reserves. But the crisis in the single currency meant it was no longer a serious alternative to anything. Next, gold soared in value as investors looked for alternative stores of value, although gold has lost much of its appeal in the past year. In the last few months even bitcoin has flourished as an alternative — and yet as fascinating as the digital currency is, it is still too flaky to seriously rival traditional money.

It is not hard to understand why investors wanted to diversify out of dollars. It cemented its position as the global reserve currency immediately after World War Two when the U.S. alone accounted for close on 80% of global gross national product. No matter how well the U.S. did, that share was always going to decline as the rest of the world recovered. The U.S. added in quite a few problems of its own, however. A financial crisis, a central bank that cared little for the value of the currency, and a political system that to outsiders looks completely dysfunctional, all contributed to the currency’s decline. In the past year, even the euro has been strong against the dollar — even though it is hard to think of any compelling reason for buying Europe’s single currency...momentum is the most important force in economics and right now the momentum is with the U.S.

MORE

[Demeter]

16. The death of America is greatly exaggerated

THE MORAL AUTHORITY OF AMERICAN IS GREATLY DIMINISHED. OBAMA IS THE LAMEST OF LAME DUCKS. BUT THERE ARE STILL A LOT OF DANGEROUS PEOPLE IN THE USA, ALL PANTING FOR A GO AT THROWING US WEIGHT AROUND....

http://www.marketwatch.com/story/the-death-of-america-is-greatly-exaggerated-2014-01-08?siteid=YAHOOB

There are fundamental economic, financial, political, military and social reasons to doubt that America’s central role in the world is ending.

In a 2011 article, Michael Beckley, a former research fellow in the International Security Program at Harvard Kennedy School’s Belfer Centre for Science and International Affairs, concluded that, based on economic, technological and military indicators, America was wealthier, more innovative and more militarily powerful compared to China than it had been in 1991. The U.S. economy remains by some distance the world’s largest. Its GDP (gross domestic product) at $15-16 trillion is around 25% of the global economy and almost twice that of No. 2 China.

Americans, on a per capita basis, remain relatively wealthy. GDP per capita is around $50,000. This is among the highest in the world, especially when low population (Luxembourg, San Marino or Singapore) or commodity-rich nations (Middle East oil producers, for example) are excluded. By comparison, China’s GDP per capita is around $5,000-6,000. American households have substantial net worth in excess of $70 trillion, although that is down from a peak of more than $80 trillion before the 2008 financial crisis.

While the global financial crisis has damaged America’s economic power, its position remains superior to many other countries...The U.S. was among the first nations affected by the financial market meltdown. Securities traders say that “if you are going to panic — panic first.” America benefitted from first-mover advantage during the crisis. The country’s problems, which emerged in 2006 and 2007, related primarily to $1 trillion of sub-standard mortgages (then about 10% of the total U.S. mortgage market). While there were flow-on effects, the scale was smaller than say the current sovereign debt problem in Europe. American policymakers, unlike their counterparts, moved aggressively to recapitalize financial institutions to reduce the risk of contagion. Large government budget deficits and specific industry programs (such as for the car industry) helped support demand, reducing the effects of the financial problems on the real economy. While the appropriateness of specific measures is debated, the policy helped ensure that problems were minimized....

MORE WHISTLING PAST THE GRAVEYARD AT LINK

[xchrom]

17. Eurozone unemployment steady but retail sales rebound

http://www.bbc.co.uk/news/business-25652196

The eurozone's unemployment rate remained stable at 12.1% in November, but retail sales in the area rebounded strongly, latest figures show.

Some 19.2 million people were out of work in the 17 countries using the euro, according to the EU statistics office, Eurostat.

But retail trade in the currency area went up by 1.4% month-on-month, the biggest rise since November 2001, led by booming sales of non-food products.

That came after a 0.4% fall in October.

[xchrom]

18. IMF to raise its global growth forecast

http://www.bbc.co.uk/news/business-25646009


The International Monetary Fund will raise its forecast for global growth according to its managing director, Christine Lagarde.

She said the revision would come in the next three weeks but did not elaborate, saying that it would be premature to say any more.

In October the IMF lowered its growth forecasts, saying the global economy "remains in low gear".

It cut its growth forecast for 2014 by 0.2 of a percentage point to 3.6%.

[Demeter]

20. Everybody got a new Rosy Scenario Doll for Xmas, I think

The currency manipulators aren't going to go away, nor the Austerians. So why does anybody think, in the absence of any real positive trends, that the global economy is going to improve?

Good morning, X! It's only -2F, no windchill, and the sun is shining in all its glory on 18 inches of powdery white. I'm going to get breakfast, because I'm too hungry to be civil.

Have a good Wednesday!

[DemReadingDU]

19. PBS Frontline: To Catch a Trader

This program aired last night, January 7, 2014. There is information about the investigations of traders leading up to Steven Cohen at S.A.C. You can watch the program at the link

FRONTLINE correspondent Martin Smith goes inside the government’s ongoing, seven-year crackdown on insider trading, drawing on exclusively obtained video of hedge fund titan Steven A. Cohen, incriminating FBI wiretaps of other traders, and interviews with both Wall Street and Justice Department insiders.

http://www.pbs.org/wgbh/pages/frontline/to-catch-a-trader/

[xchrom]

21. Italian Unemployment Hits 37-Year High

http://www.businessinsider.com/italian-unemployment-hits-37-year-high-2014-1

Italy is looking sick today.

According to stats that have just come out, the unemployment rate has risen to a 37-year high of 12.7% in November.

Youth unemployment jumped from 41.4% in October to 41.6% in November.

This isn't the only bad Italian number lately.

Recall that earlier this week, Italy clocked in with its second-straight sub-50 reading in its service sector PMI (even as most Eurozone countries showed improvement, especially Spain, with which it's frequently compared).



Read more: http://www.businessinsider.com/italian-unemployment-hits-37-year-high-2014-1#ixzz2poWTG7oB

[xchrom]

22. PRIVATE SECTOR JOBS SURGE BY 238,000 IN DECEMBER

http://www.businessinsider.com/adp-employment-december-2014-1



Below is a summary of the data from ADP:

Goods-producing employment rose by 69,000 jobs in December, up from an upwardly revised figure of 46,000 in November. Construction had its best month since 2006, adding 48,000 to payrolls. Manufacturing was strong as well, but growth slowed slightly to 19,000 in December. Over the course of 2013, goods-producers added 286,000 jobs. Nearly 75 percent of these gains came from construction as the housing recovery accelerated throughout 2013.

Service-providing industries added 170,000 jobs in December, down slightly from an upwardly revised November figure of 182,000. The ADP National Employment Report indicates that professional/business services contributed the most to growth in service-providing industries, adding 53,000 jobs. This was the largest gain in the industry in a year. Expansion in trade/transportation/utilities slowed slightly, adding 47,000 jobs in December. Private payrolls increased by nearly 1.9 million jobs in the service-providing industries in 2013. The bulk of this increase was split evenly between transportation/trade/utilities and professional/business services. Finance brought up the rear gaining just 59,000 in the last twelve months.

"The U.S. private sector added 238,000 jobs in December, surpassing November as the strongest month for job growth in 2013,” said Carlos Rodriguez, president and chief executive officer of ADP. “It’s encouraging news that hopefully bodes well for 2014."



Read more: http://www.businessinsider.com/adp-employment-december-2014-1#ixzz2poXZ3oyv

[xchrom]

23. U.S. stock markets score first gain of year

http://www.rawstory.com/rs/2014/01/07/u-s-stock-markets-score-first-gain-of-year/


US stocks registered their first gains of the new year Tuesday, with the Nasdaq adding nearly one percent, helped by a solid November trade report.

The Dow Jones Industrial Average finished up 105.84 points (0.64 percent) at 16,530.94.

The broad-based S&P 500 gained 11.11 (0.61 percent) at 1,837.88, while the tech-rich Nasdaq Composite added 39.50 (0.96 percent) at 4,153.18.

The gains cut a three-session losing streak that began on the first trading day of the year.

[Hotler]

24. Poo cookies

Box brownie mix
Reese cups or Oreo cookies
Chocolate chip cookie dough

Smush some cookie dough in the bottom of a muffin pan. Add a Reese cup upside down and fill two thirds with prepared brownie mix and bake. Substitute Oreo cookie for Reese cup if you want.
Grease the muffin pan or use paper cups.
Enjoy

[Tansy_Gold]

25. Wait a minute. Come back here

No hit-and-run recipes allowed in my thread!

Oven temperature? Baking time?

By "prepared" brownie mix, do you mean with the oil, egg, and water added?

SOME OF US WANT DETAILS, y'know, so we can, like, actually make these things!

(They sound obscenely fattening and yummy.)

[Hotler]

26. Busted........I'll fill in the blanks

when I get home tonight after work.
Prepared brownie mix- yes with the eggs, oil and water.
Off the top of my head I'm thinking 350 degrees.
Time-10-12 minutes??? tooth pick test

[tclambert]

27. Tooth pick test? I thought you were supposed to use a pencil . . .

[Hotler]

28. Sweet!

[Hotler]

29. This is mo better.

Poo Muffins;
Preheat oven to 350; smoosh refrigerated cookie dough into the bottom of each well. Place Reese cup upside down on top of cookie dough (or an Oreo!). Top with prepared box brownie mix, filling 3/4 full. Bake for 18 minutes! HEAVEN!

Enjoy.

[Tansy_Gold]

30. Yesssssss!

Thank you! Thank you!

They sound insanely rich and sugar-overloady. I'm going see if I can scrape up the time to make some this week-end and take a few to the local coffee shop.

(I'm NEVER going to fit comfortably into my jeans at this rate......)



PS: This does give a whole new meaning to the phrase "Eat shit and die"........

PPS: I wonder what they'd be like if you substituted a layer of M&Ms for the Reese cup????

[DemReadingDU]

31. Yummy!

I'm thinking I might make them for ladies I play cards with next week.

Funny story. I was baking Christmas cut-out cookies with the grandkids, almost 6 and almost 7. To decorate the cookies, they decided to use lots and lots of sprinkles, and Skittles! Quite the unique and chewy texture to the cookies this year, lol!

[Hotler]

32. Mallow cups might be good if you can find them. Something else that ....

be good, peppermint patties. Chocolate and mint go well together.