Moody's downgraded 15 banks, primarily because banks are busy placing bets in the great capital markets gambling casino. As a result of these downgrades, banks borrowing costs will increase and they will have to pony up more collateral to cover their holdings and trades.
Initial weekly unemployment claims for the week ending on June 16, 2012 were 387,000. The DOL reports this as a decrease of 2,000 from last week, yet last week's initial claims were revised up, from 386,000 to 389,000, an increase of 3,000. Initial claims for unemployment insurance are stagnating, not declining as needed, as seen in the below chart.
The Federal Reserve will extend their Operation Twist past the June 2012 deadline and downgraded the economic outlook. Originally Operation Twist was $400 billion in Treasuries that were maturity dates of 3 years of less turned into T-bills with maturity dates of 6 to 30 years.
The BLS JOLTS, or Job Openings and Labor Turnover Survey reports a dismal and pathetic jobs market. The April 2012 statistics show there were 3.66 official unemployed persons for every position available*. There were 3,416,000 job openings for April 2012, a -8.69% change from the previous month of 3,741,000. Openings are still way below pre-recession levels of 4.7 million. Job openings have increased 56% from their July 2009 trough, yet opportunities are miles away from the 1.8 persons per job opening ratio at the start of the recession, December 2007. Below is the graph of April official unemployed, 12.5 million, per job opening.
If one takes the official broader definition of unemployment, or U-6, the ratio becomes 6.65** unemployed people per each job opening for February. The April U-6 unemployment rate was 14.5%. Below is the graph of number of unemployed, using the broader U-6 unemployment definition, per job opening.
Did you know Silicon Valley's best export is American jobs? That China has a new policy which is a bigger threat to the U.S. economy and jobs than direct offshore outsourcing has been?
The U.S.-China Economic and Security Review Commission held a hearing, China’s Five Year Plan, Indigenous Innovation, and Outsourcing and contained within are more damning facts about China running amok in terms of capturing U.S. industry for themselves.
China lays out economic strategies by five year detailed plans. The latest calls for Chinese investments, that's government investment, of up to $1.5 trillion to develop alternative energy, biotechnology, information technology, advanced equipment manufacturing, alternative fuel autos and other energy saving, environmental technologies.
China's indigenous innovation policy means corporations are forced to technology transfer to China their intellectual know-how, advanced technologies in order to even do business in China and certain to obtain Chinese government contracts.
Greece is in turmoil. Austerity demands and debt have ravaged the nation. In spite of this, the pro bail-out and corresponding austerity political party just won the election:
The pro-bailout New Democracy party came in first Sunday in Greece's national election and could gather enough support to form a pro-bailout coalition to keep the country in the eurozone.
The world's eyes have been on Greece and their elections. The reason is one party wanted to default and leave the Eurozone. The two main parties are the New Democracy and the Syriza. The New Democracy party are the conservatives and support the European bail outs, austerity demands and want to stick with the EU and the Euro. The left Syriza wants to default, get out of those austerity demands and leave the Eurozone.
Most are reporting the New Democratic Party of Greece can form a parliamentary coalition.
The euro strengthened as official projections showed Greece’s two largest pro-bailout parties winning enough seats to forge a parliamentary majority, easing concern the country would be forced from the currency bloc.
Obama is on a roll, seemingly for every donor and special interest group that can get out the vote for election 2012. First, there was a leaked document on the negotiations for the Trans Pacific Partnership.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows a -0.1% decrease in industrial production for May 2012, a sign of more sluggishness for the economy. Manufacturing dropped -0.4%, mining and utilities increased their production, 0.9% and 0.8% respectively. Within manufacturing, motor vehicles & parts dropped -1.5% for May.
Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop. 
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
The Federal Reserve will 
Did you know Silicon Valley's best export is American jobs? That China has a new policy which is a bigger threat to the U.S. economy and jobs than direct offshore outsourcing has been? 
Greece is in turmoil. Austerity demands and debt have ravaged the nation. In spite of this, the pro bail-out and corresponding austerity political party just 
Obama is on a roll, seemingly for every donor and special interest group that can get out the vote for election 2012. First, there was a
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