Nouriel Roubini on Double Dip Risk

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August 26, 2010. Tags: , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. 1 comment.

‘You’re going the wrong way!’ ~ Weekly Jobless Claims rise to 500,000

Update: Philly Fed PLUNGES! ZeroHedge:

Philly Fed Plunges To -7.7 on Expectations Of 7.0, Previous 5.1

More on that HUGE Philly Fed Miss from CalculatedRIsk

Indexes for new orders and shipments also suggest a slowing this month; the new orders index fell slightly, to ‐7.1, while the shipments index turned negative, declining to ‐4.5. Indicating weakness, indexes for both delivery times and unfilled orders remained negative this month.

The percentage of firms reporting a decline in employment (23 percent) was higher than the percentage (20 percent) reporting an increase. More concerning was the significant drop in the average employee workweek index from 1.7 in July to ‐17.1 in August….

Most of we peeps outside the Beltway expected this (that’s us in the c ar screaming at John Candy aka Obama, Summers and Geithner) . Here it is. Delta going the wrong way. Rising weekly jobless claims continue, now hitting that 500,000 marker…and AGAIN note the revisions for the prior month-higher…

CNBC:

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday’s report…..

August 19, 2010. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. 1 comment.

Personal Bankruptcy soars to 5 yr high ~ Nevada continues to be hardest hit – feel the ‘Hope’ yet?

The American people are eagerly awaiting their chance to vote against this destructive, divisive agenda coming out of D.C. November cannot come soon enough. Hold On, voters are comin’, we will pull each other out of this morass the Obama Democrats have created. Please make sure EVERYONE you know is coming out to vote.

ZeroHedge:

The Administrative Office of the U.S. Courts reports that personal bankruptcy filings for the year ended June 30, 2010 surged to a five year high, hitting 1.57 million, a 20% increase from the prior year. Furthermore, in the period between April and June, there were 422,061 bankruptcy filings, a 9% increase from the 388,148 in the previous quarter, and up 11% from 381,073 a year earlier. As Reuters highlights, quarterly filings surpassed 400,000 for the first time since a record 667,431 bankruptcies were begun in the fourth quarter of 2005, when Congress overhauled federal bankruptcy laws and made it harder for people and businesses to file…

Nevada continues to be hardest hit in foreclosures and bankruptcies as well as unemployment, Harry Reid is killing his state on a Trifecta of issues with his ass backward economic ‘policies’,,,

If you are in Nevada, please take a look at Sharron Angle for Senate. I had initially backed Sue Lowden and donated to her campaign, but Sharron was the people’s choice and now any dillys I have for NV are going to Sharron who GETS IT. We need people who GET US, and GET AMERICA. Who GET free markets and fiscal responsibility. Please vote for Sharron Angle to turn NV around!

...Indicatively, Nevada had the highest rate of filings on a per capita basis in the last year, with 11.74 per 1,000 people)….

Obama is on my TV, again, this time BAMBOOZLING folks in Ohio and whining about how companies have plenty of money to hire and fully fund pensions. Good grief, the pension bailout is coming….Hold On America, we voters are comin’!!

August 18, 2010. Tags: , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics. Comments off.

Market Movers: Meredith Whitney on the small business credit crunch and NY Fed’s Empire business conditions index PLUNGES…

The double dip is coming baby, believe it, and the Congress Critters attempts to ‘help us’  are making it worse…Read the entire piece by Meredith Whitney for the coming layoffs at the state level..

WSJ:

…Unless real focus is afforded to re-engaging small businesses in this country, we will have a tragic and dangerous unemployment level for an extended period of time. Small businesses fund themselves exactly the way consumers do, with credit cards and home equity lines. Over the past two years, more than $1.5 trillion in credit-card lines have been cut, and those cuts are increasing by the day. Due to dramatic declines in home values, home-equity lines as a funding option are effectively off the table. Proposed regulatory reform—specifically interest-rate caps and interchange fees—will merely exacerbate the cycle of credit contraction plaguing small businesses.

If banks are not allowed to effectively price for risk, they will not take the risk. Right now we need banks, and particularly community banks, more than ever to step in and provide liquidity to small businesses. Interest-rate caps and interchange fees will more likely drive consumer credit out of the market and many community banks out of business….

…It is important now to support any and all lending activities that would enable small businesses to begin hiring again. If the regulatory reform passes with rate-cap and interchange regulation amendments incorporated, small businesses will be hurt rather than helped. Politicians and regulators need to appreciate the core structural challenges facing unemployment in the U.S….

Empire State general business conditions index- CNBC:

…The New York Fed’s “Empire State” general business conditions index fell to 19.11 in May from 31.86 in April.

Economists polled by Reuters had expected a May figure of 30.00….

...The new orders index fell to 14.30 from 29.49 in April….

May 17, 2010. Tags: , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. Comments off.

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