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Frontrunning: April 1
- Larry Fink's $12 trillion shadow (Vanity Fair)
- Jobless claims beat estimates by 1,000 at 439,000 after prior week revised, as always, negatively by 3,000; Same thing with continuing claims (Bloomberg)
- After getting a taxpayer bail out in 2008, Jamie Dimon attacks demonization of banks (JPM)
- Oil hits 18 month high (Reuters)
- Kerviel #2? SocGen investigating "anomalies" in Singapore account (Bloomberg)
- Will spending unding ObamaCare trigger the next financial crisis (RCM)
- Are jobless recoveries the new normal? (Cleveland Fed)
- Jim O'Neill: tough talk on China ignores economic reality (FT)
- PIMCO sees Europe's
action on Greece as ineffective in fixing the country's problems, while
Britain's sovereign debt rating could be downgraded within a year (Reuters) - Nothing has changed from 2005: house flippers in U.S. crowd courthouse steps in hunt for deals (Bloomberg)
- China confusing "Google Geeks" helps reinforce great firewall (Bloomberg)
- Chief executives see pay fall again... (WSJ)
- As hedge fund pay soars (NYT)
- End of Saturday mail service is only the beginning (WaPo)
»
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"Jobless claims beat estimates by 1,000 at 439,000 after prior week revised, as always, negatively by 3,000; Same thing with continuing claims"
Initial Jobless Claims Previous 442k, Forecast 438.2k, Comes in at 439k Continuing Jobless Claims Previous 4648k, Forecast 4616.1k, Comes in at 4662k.
And the market spikes - UPWARDS.
OK, can someone explain this to me? I give up.
DavidC
guh, less employees = more profit. Thus this is an overall positive. At this rate we will eventually have companies with very few to no employees, which by my calculations should send the DOW skyrocketing since these companies will be nothing but pure profit machines.
Disclaimer: No I'm not an economist, but I am currently staying at a Holiday Inn Express.
** Edited for Content **
It's like this: If us peons lose *our* jobs, well, it's a "productivity increase." The Fed shines on this. It's a good thing.
However, if an oligarch in the FIRE economy doesn't get his bonus, it's a "talent drain." This is a terrible thing because the talent will walk, you see.
Clear now?
Oil at $85. This is going to get ugly fast.
Here's something much uglier......
http://www.examiner.com/x-9341-Manhattan-Headlines-Examiner~y2010m3d30-C...
Will spending und(er) ObamaCare trigger the next financial crisis?
Pfft - haven't they heard? ObamaCare is "undeniably pro-business and pro-jobs". I mean Barry Obama's Commerce Secretary said so, and he wouldn't lie/spin, would he?
http://online.wsj.com/article/SB10001424052702304252704575155712878109470.html
Not just oil spiking. EVERYthing reflationary is spiking.
That thing you did with AIG, you thought that could fool a Corleone? [/Godfather]
What the hell is gold doing up there at 1123? Bring it back down to 1108 where it belongs.
this just in.
land prices in crawford, texas up 15% in the past year.
GWB told me so.
Jamie Dimon is a fucking liar, a thief and a crook. I won't do business with any of his companies and nor should anyone whom respects the common good.
In the oscillating decline model: economic activity increases→energy prices rise→a recession occurs→energy prices fall→economic activity picks up again but to a lower bound set by declining oil production. In this model the economy oscillates to a lower and lower level of activity.
From the Tipping Point paper by David Korowicz
"But BlackRock’s enormous and growing influence and its sheer size—too big to fail, some say—has begun to raise questions. “It’s like the Blackwater of finance, almost a shadow government,” says one senior bank executive, referring to the mountain of government contracts awarded to the firm . . . Fink’s firm has been granted a privileged view into a broad swath of the financial markets, raising questions, says James Bianco, the C.E.O. of Bianco Research, about how it is handling possible conflicts of interest. That BlackRock was awarded key contracts with no competitive bidding, in a process enveloped in secrecy, has also raised hackles."
Holy Shit, Batman! Sounds like another one to add to the list containing the Fed, GS and JPM.
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