JPMorgan Chase has settled with the DOJ for bundling up and selling toxic mortgages as derivatives to unsuspecting investors. The settlement is $13 billion. The news prompted another round of #AskJPM twitter mega sarcasm.
This is priceless. Walmart is holding a food drive for their own employees. Worse, Walmart doesn't see a problem with this, asking customers to feed their employees. Is it like Walmart hasn't heard of something called wages and benefits, including help for emergency situations.
The New York Post is reporting an absolute bombshell story if true. They claim the September 2012 unemployment report was manipulated and survey data was faked, just in time for the election. The story quotes anonymous sources, insiders from the Census Bureau who claim to have falsified survey data for the unemployment report.
There is an amazing, astounding op-ed in the Wall Street Journal. A Federal Reserve employee involved with the $1.25 trillion in mortgage backed securities purchased back in 2009 has confessed. He spills the beans on how quantitative easing has made the super rich even richer while doing almost nothing for main street. Here's an excerpt:
Good Morning! Rise and Shine! Get that Cup O' Joe...break out the O.J....hang out with the pooch...for it's time to check out the Obamacare funnies. The below Obamacare parodies have been screened for accuracy and amusement without the lobbyist spin
The Trans-Pacific Partnership is a trade treaty going on in secret. Trade treaty drafts and negotiations are so secret to even comment on one of these trade deals will cost $2000. WikiLeaks recently released an excerpt of the secret deal, a feat most amazing they obtained even a portion of the terms.
The U.S. September 2013 monthly trade deficit jumped from last month with a 8.0% increase and now stands at -$41,778 billion. The jump in the trade deficit should lower Q3 GDP upon the next revision. We estimate the September trade deficit will lower Q3 GDP by 0.3 percentage points.
The October unemployment report showed a record low labor participation rate of 62.8%, graphed below. Many dismiss these record low labor participation rates by claiming more people are retiring and young people are just in school. Is this true or is something more sinister going on?
The rich get richer and income inequality in America continues with no end in sight. The latest evidence is from the social security administration The gap between rich and the rest of us continues to grow.
There were 932,000 more people considered not in the labor force for October 2013 according to the BLS employment report. The labor participation rate plummeted to a new low of 62.8%. Happy belated Halloween America for the these are some crazy unemployment statistics that are one big scary surprise. While the month to month household survey figures vary greatly as a general rule, there is no government shutdown effect to explain away the monthly cliff dive of people no longer counted as part of the labor force this month.
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