San Fran Fed On Record Highs In New Unemployment Insurance

The San Francisco Fed continues the trend of spending good taxpayer money on focusing on such expansive projects as why a cube has 6 sides. Their latest report is a terrific example of substantiating the obvious.

Our analyses identify an upward trend in UI receipt over the past two decades as the composition of the unemployment pool has shifted toward permanent job losers, which has partially reversed the earlier decline. However, this effect may have been offset by the lengthening of unemployment spells that occurred during the same period. This is likely to cause UI benefits to lapse for some recipients as the current downturn continues...The net impact of these long-term trends has been to mildly offset UI’s role as an automatic stabilizer for the economy. Moreover, most forecasters expect the current labor market weakness to continue for many more months. If this occurs, the resulting rise in unemployment durations will cause some UI claimants to exhaust their regular and extended benefits, which will further offset the intended roles of UI payments as an automatic  stabilizer and means of low-income support.

We never said it was groundbreaking. At least they didn't spend millions on trying to figure out how to shove said cube through a circular hole. But they did add some pretty pictures:

The full piece below: read it, or use it as an electronic paperweight. After all your money was spent to write it.

Comments

[Dixie Normous]

I like the sound of the term "job loser".

[deadhead]

I used to have a job (well, a couple of them) since 1978 in the financial services sector.

Now, I am just a permanent loser. 

[Printfaster]

Makes it sound like you lost your job on a street corner when you reached in your pocket.  All you need to do is look around a bit and you will find the job you lost.

[buzzkillington]

No. You are right. I worked on wall street for a long time providing a services we all needed... Selling nathans hotdogs. I miss the good ole days.

[ghostfaceinvestah]

this is classic.

http://www.latimes.com/business/la-fi-malibu-wells11-2009sep11,0,740504....

[Hephasteus]

LOL. Lehman having 450,000 lbs of yellow cake uranium on it's balance sheet. This guy exposing himself to  fraud. It just keeps getting better and better.

[ghostfaceinvestah]

yeah, i figure this story is good for another 100K recruits for the upcoming revolution.

[3greenlights]

Ghost! Great find dude! But what's the big deal?  That house is so narrow, even Paris may not have enough room to thrash about...

Aerial view:

http://www.mapquest.com/maps?city=Malibu&state=CA&address=106+Malibu+Colony+Rd#a/maps/l::106+Malibu+Colony+Rd:Malibu:CA:90265-6616:US:34.03171:-118.685017:address:Los+Angeles+County:1/m:hyb:12:34.03171:-118.685017:0:::::1:1:1::/io:0:::::f:EN:M:/e

Inside:

http://www.106malibucolony.com/gallery/gallery.php

[Spartacus]

The whore Cheronda Guyton will be out of Job soon.

[Anonymous]

So, some of that WFC TARP coin found it's way into the petty cash drawer, nice. Throw a couple of shindigs at a repo'd house, or hey, just scoping out locations for the next company picnic. Pricks.

[SloSquez]

Off with her head.

[percolator]

That just blows me away... WFC better fire Cheronda!

Did you notice she worked for former Gov. Gray Davis, the stupid bitch is going to be collecting a pension too. 

No ethics or morals, these bankers are just parasites sucking everything they can out of the taxpayer.

[trillion_dollar...]

Its bad enough she's doing what she's doing. But, the fact that she's in line for a golden parachute pension courtesy of US taxpayers (once the treasury bails out CA next year), takes the cake. I seriously feel like walking into a Wachovia tomorrow and making some fuckers eat lead.

[Anonymous]

Funny she's not a licensed Realtor in California.

http://members1.car.org/CAR_UMS/loadSearchScreen.do?searchType=member&si...

Spank Cheronda!

Cheronda Guyton
Head of Commercial ORE Department
Wells Fargo Bank
333 S. Grand St., 9th Floor,
MAC #E2064-091
Los Angeles, CA 90071
213.253.3328
[e-mail]

[Spartacus]

do you think someone will hurt this woman after this.

That would be shocking!!!

[kylenstone]

Actually, I can't find much of any verified information about her.  The professor Hoffman interviewed in the story had never heard of her.  I see no listings at USC or Emory which verify her as a student.

Nonetheless, I am dumping all of the information I can find here: http://littlesis.org/person/41493/Cheronda_Guyton/

[Chumly]

>Such conduct would pose a conflict of interest, said W. Michael Hoffman, executive director of the Center for Business Ethics at Bentley University in Waltham, Mass.<

Hell, the entire corrupt system is a conflict of interest!  Hoist the guillotine - heads need to role!!

[Heroic Couplet]

Bush and his dimwit US Labor Secretary Elaine Chao rarely, if ever, made their monthly jobs creation targets, nearly a decade of job loss. People were saying every month, no jobs, no salary to buy homes, cars, durable goods. For the first time in US history, we are learning the hard way that tax cuts do not work to create jobs. The labor available in India and China is way too large.

[AN0NYM0US]

Lehman Monday Morning Lesson Lost With Obama Regulator-in-Chief

Sept. 11 (Bloomberg) -- Less than 24 hours after his swearing-in ceremony, U.S. Treasury Secretary Timothy F. Geithner surprised Camden R. Fine with an invitation to a one- on-one meeting about the financial crisis....

http://www.bloomberg.com/apps/news?pid=20601109&sid=aUTh4YMmI6QE

[ghostfaceinvestah]

Well, you know what to do - pull your deposits.

BofA wouldn't have much of a business left without deposits, or credit card customers, or mortgage customers, now would it?

[SDRII]

Geithner gave the equivilant of "let them eat cake" today in testimony

But not to worry, Obama is going to give a speech next week on the financial crisis -

the rats are scurring for cover

[JohnKing]

Yeah, "Baghad Barack" Obama to pimp the markets on Monday. Disinformation as new economic policy.

http://www.reuters.com/article/governmentFilingsNews/idUSN2125774120090910

President Barack Obama will give a speech about the financial crisis on Monday, marking the anniversary of the collapse of Lehman Brothers, the White House said.

"He will discuss the aggressive steps the Administration has taken to bring the economy back from the brink (and) the commitment to winding down the government's role in the financial sector," the White House said in a statement.

[MinnesotaNice]

Hope the market picks that day and time to tank in the way that we have feeling it will for months... I voted for the guy... but I don't think anything is 'fixed'... and I really hate saying something is 'fixed' when the fundamental foundation is still cracked.

[They steal from...]

Of course you voted for the guy, you are racist against whites and clueless to boot.

[MinnesotaNice]

That statement requires no further commentary on my part... I think you clarified your position for everyone...

[Spartacus]

HOW ABOUT SENDING MILLIONS OF MAILS TO ALL SCHOOLS OF AMERICA "EXPLAINING THEM HOW OBAMA IS FOOLING ALL OF US BY PROTECTING THESE SUCKERS" WILL THAT BE TOO MUCH!

BUT THEN WHY AMERICANS, IN GENERAL ARE NOT REVOLTING BY ADOPTING THE FOLLOWING STEPS,

1. DON'T PAY YOUR OUTSTANDING DUES ON CREDIT CARDS.

2. DON'T PAY THE MORTGAGE.

3. STOP PAYING TAXES TILL ALL THE ILL-GOTTEN MONEY HAS BEEN RECOVERED(MONEY PARKED ABROAD,MONEY GIVEN OUT AS BONUSES AND MONEY MADE BY USING DUBIOUS METHODS IN THE MARKET).

i AM SURPRISED THAT WORLD'S GREATEST DEMOCRACY HAS BEEN HIJACKED BY 100 OR SO PEOPLE.

[Lou629]

So job losers are unemployed?  And there are more of them lately?  Who knew?  I would think that that would have come under the heading of "no shit".

[D.O.D.]

So I am a loser... great...Well at least I'm still angry...

[ghostfaceinvestah]

follow up to the Fannie/Freddie report from the GAO

http://www.americanbanker.com/issues/174_175/two_options_for_gses_get_si...

[ptoemmes]

A sufficiently small cube will fit through a sufficiently large hole without a problem.

$1,000,000 please

Pete

[mikeyv1970]

If the hole is big enough to drive a Harley thru maybe...  !  :)

[thegreatsatan]

we are in the very best of hands :rolleyes:

What made Summers' frank comment important is that it suggests this just-add-gas relationship may now be malfunctioning. The American economy has been shedding jobs much, much faster than Okun's law predicts. According to that rough rule, we should be at about 8.5% unemployment today, not slipping toward 10%. Something new and possibly strange seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd — deviating again from his text — "that anyone fully understands this phenomenon."

Let the funemployment last forever!