CBS 60 Minutes has another bombshell report. It seems while handing cash under the table to members of Congress is graft, offering pre-IPO stock, guaranteed to make a profit for an elected representative...isn't. In Congress: Trading stock on inside information, we have yet another blow by blow playbook on how to use your elected public office to get rich quick.
Oregon knows how to throw a police state eviction of Occupy Portland. Last night, as the bell struck the magic midnight hour, this is what Portland's Occupy Movement Protestors did, cheered and popped champagne!
Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.
Fed Chair Bernanke Warns on Europe, Jobs Crisis
It's astounding to me, that even the big banker in chief knows the jobs crisis and what's going on in Europe can bring the U.S. to it's knees, unlike most of the punditry these days:
Initial weekly unemployment claims for the week ending on November 5th, 2011 were 390,000. The DOL reports this as a decrease of 10,000 from the last week. The previous week was revised, from 397,000 to 400,000, an increase of 3,000. Still, initial unemployment claims are breaking 400,000 and this is a 7 month low.
The September 2011 U.S. trade deficit decreased $1.81 billion to $43.11 billion. This is 4.03% drop from last month in the trade deficit. August's trade deficit was revised down from $45.61 billion to $49.92 billion. Exports increased $2.5 billion, or 1.41%, while imports increased $688 million, or 0.31%.
The Wholesale Trade Sales & Inventories monthly report shows wholesale sales increased +0.5% from last month, and inventories decreased -0.1%. In August, wholesale inventories revised down to +0.1%. From this time last year, wholesale sales are up 15.0% and inventories have increased 11.9%.
The Q3 2011 Productivity & Costs report showed Labor productivity increased +3.1% from Q2, annualized. Output increased +3.8% and hours worked increased +0.6%. This shows workers are being squeezed in hours and compensation for more output. Below is business, nonfarm labor productivity per quarter.
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