Happy New Year! 2007 Unemployment +3 Million
SP500 has plunged 88 points in six trading days. Worst annual start since 2000, best start for bonds since 2001.
World's largest stock broker Merrill Lynch on the verge of insolvency. The dollar, all time low, crude oil all time high over $100, real stagflation rate over 15%...
The recession we have been in since 2002, was masked with hyperliquidity, creating an echo bubble (real estate, stock and bond markets) from the initial imploded dot com bubble.
All have danced at the drunken orgy, now the punchbowl is getting taken away and the piper must be paid in full...
As the echo bubble they created implodes, the central bankers are scrambling to save the house of finance's collective ass, not the publics.
The ECB has injected over $850 billion, the Fed close to $500 billion, not counting the worthless debt they hold at the worlds largest pawn shop.
Now the Fed will increase the size of next two scheduled auctions of emergency loans by 50% to $30 billion each.
We are witnessing what could be the infancy of a collapse in the financial, economic and inevitably political system.
Aside from the above and the obvious, tonight's offering submitted for your perusal... Like Father like Son or Liar & Liar...
CNBC reported President Shrub Jr. said "the economy is on a solid foundation and the financial markets are strong."
bringing back fond memories of Shrub Sr. circa 1991 "the economy has turned the corner".
Jr & Sr both omitted the following from their statements... "flipped over three times, struck a tree and burst into flames".
The flames came flying out of a smoking gun as today unemployment jumped to 5% on 18K jobs, capping the worst year for "job creation" since 2003.
Misdirect of the day: "Breifing.com believes the market is overreacting, considering hourly earnings rose 0.4%...
and total spending power won't subside unless payrolls drop 150,000 to 200,000 per month."
The Nattering One suggests you grab your briefs... During Japan's recent 17 year, zero interest rate, real estate and lending led depression...
consumer spending never declined, as the only prices to rise during the deflation, were consumer prices.
We have already seen real income and real spending (adjusted for inflation) go negative with stagflation running over 15%.
Further rate cuts and currency debauching will only exacerbate a worsening situation.
Today's job report confirms that "job creation" also went negative this year. You can create (92K x 12) 1 Million service Mc Jobs per year, it won't deflect the incoming wave.
Read the jobs report Table C and Table A13.
2007 Institutional Population +3 million; unemployed +1 million; civilian labor force +1 million; employed +266K; not in labor force + 2 million.
Do the math +300K McJobs "growth"; over 3 million unemployed and not counted; 10 to 1, that's some "growth" eh?
And its going to more than double in 2008 from 3 million... Dec Unemployed +474K, reality, employment -436K + 179K no longer in labor force = +615K unemployed.
At the current exponentially accelerating pace, 7.2 million unemployed and not counted by the end of 2008.
Whats coming? No, not a recession wave, which we have been in since 2002, and no, not the end of the world,
just a global depression, replete with drought, dustbowls and the inevitable rise of disputes, despots and dictatorships.
Which much like the housing debacle, this is a trainwreck in progress, a fait accompli and cannot be stopped, nor softened.
Get ready, because in any event, 2008 is an election year, which means the damage control will be slathered on thick, making it one bumpy ride on multiple fronts.
Meanwhile Happy New Year! and enjoy your "programming" or misdirects, 2008 Summer Olympics from China; 2008 Presidential "Election" Campaign.
World's largest stock broker Merrill Lynch on the verge of insolvency. The dollar, all time low, crude oil all time high over $100, real stagflation rate over 15%...
The recession we have been in since 2002, was masked with hyperliquidity, creating an echo bubble (real estate, stock and bond markets) from the initial imploded dot com bubble.
All have danced at the drunken orgy, now the punchbowl is getting taken away and the piper must be paid in full...
As the echo bubble they created implodes, the central bankers are scrambling to save the house of finance's collective ass, not the publics.
The ECB has injected over $850 billion, the Fed close to $500 billion, not counting the worthless debt they hold at the worlds largest pawn shop.
Now the Fed will increase the size of next two scheduled auctions of emergency loans by 50% to $30 billion each.
We are witnessing what could be the infancy of a collapse in the financial, economic and inevitably political system.
Aside from the above and the obvious, tonight's offering submitted for your perusal... Like Father like Son or Liar & Liar...
CNBC reported President Shrub Jr. said "the economy is on a solid foundation and the financial markets are strong."
bringing back fond memories of Shrub Sr. circa 1991 "the economy has turned the corner".
Jr & Sr both omitted the following from their statements... "flipped over three times, struck a tree and burst into flames".
The flames came flying out of a smoking gun as today unemployment jumped to 5% on 18K jobs, capping the worst year for "job creation" since 2003.
Misdirect of the day: "Breifing.com believes the market is overreacting, considering hourly earnings rose 0.4%...
and total spending power won't subside unless payrolls drop 150,000 to 200,000 per month."
The Nattering One suggests you grab your briefs... During Japan's recent 17 year, zero interest rate, real estate and lending led depression...
consumer spending never declined, as the only prices to rise during the deflation, were consumer prices.
We have already seen real income and real spending (adjusted for inflation) go negative with stagflation running over 15%.
Further rate cuts and currency debauching will only exacerbate a worsening situation.
Today's job report confirms that "job creation" also went negative this year. You can create (92K x 12) 1 Million service Mc Jobs per year, it won't deflect the incoming wave.
Read the jobs report Table C and Table A13.
2007 Institutional Population +3 million; unemployed +1 million; civilian labor force +1 million; employed +266K; not in labor force + 2 million.
Do the math +300K McJobs "growth"; over 3 million unemployed and not counted; 10 to 1, that's some "growth" eh?
And its going to more than double in 2008 from 3 million... Dec Unemployed +474K, reality, employment -436K + 179K no longer in labor force = +615K unemployed.
At the current exponentially accelerating pace, 7.2 million unemployed and not counted by the end of 2008.
Whats coming? No, not a recession wave, which we have been in since 2002, and no, not the end of the world,
just a global depression, replete with drought, dustbowls and the inevitable rise of disputes, despots and dictatorships.
Which much like the housing debacle, this is a trainwreck in progress, a fait accompli and cannot be stopped, nor softened.
Get ready, because in any event, 2008 is an election year, which means the damage control will be slathered on thick, making it one bumpy ride on multiple fronts.
Meanwhile Happy New Year! and enjoy your "programming" or misdirects, 2008 Summer Olympics from China; 2008 Presidential "Election" Campaign.
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