Unemployment

Tyler Durden's picture

European Consumer Confidence Tumbles To 9 Month Lows





Despite record low bond yields and all the promises one can bear from politicians and central bankers, the people of Europe are the least confident since February. At -11.6, missing expectations of a slight improvement from -11.1 to -10.7, this is the biggest miss since August 2011. It's perhaps not surprising given the near-record highs in unemployment but oddly, confidence seems highly correlated to EUR strength (or weakness)... the opposite of what the market hopes for.

 
Tyler Durden's picture

Global Slowdown Confirmed By PMIs Missing From Japan To China To Europe; USDJPY Nears 119 Then Slides





The continuation of the two major themes witnessed over the past month continued overnight: i) the USDJPY rout accelerated, with the Yen running to within 2 pips of 119 against the dollar as Albert Edwards' revised USDJPY target of 145 now appears just a matter of weeks not months (even though subsequent newsflow halted today's currency decimation and the Yen has since risen 100 pips , and ii) the global economic slowdown was once again validated by global PMIs missing expectations from Japan to China (as noted earlier) and as of this morning, to Europe, where the Manufacturing, Services and Composite PMI all missed across the board, driven by a particular weakness in France (Mfg PMI down from 48.5 to 47.6, below the 48.8 expected), but mostly Germany, after Europe's growth dynamo, which disappointed everyone after yesterday's rebound in the Zew sentiment print, printed a PMI of only 50.0, down from 51.4 a month ago, down from 52.7 a year ago, and below the 51.5 expected. And just as bad, Europe's composite PMI just tumbled to 51.4, the lowest print in 16 months!

 
Tyler Durden's picture

The Next QE? Switzerland Prepares A "Living Wage" Of $2,600 For Every Citizen





With Japan planning a few trillion Yen stimulus plan of airdropping "gift cards" directly to the poor to spur spending (and the virtuous awesomeness of economic utopia), it appears Switzerland is about to go one step further. As Motherboard reports, Switzerland could soon be the world’s first national case study in basic income. Instead of providing a traditional social net - unemployment payments, food stamps, or housing credits - the government would pay every citizen a fixed stipend. The proposed plan would guarantee a monthly income of CHF 2,500, or about $2,600 as of November 2014; meaning every Swiss family can expect an unconditional yearly income of $62,400 without having to work, with no strings attached. What could go wrong?

 
Tyler Durden's picture

The Eurozone's QE Problem





"QE is a necessary condition for recovery in Europe, but is not sufficient in itself. The question is where does this bridge take us? The eurozone can survive a couple more years of miserable growth, but it can’t go on forever like this before people lose hope. There is political risk almost everywhere."

 
Tyler Durden's picture

Japan Is Dying And We Still Don't Get It?!





What is it with us? Don’t we want to understand? Japan announced on Monday that its economy is in hopeless trouble and back in recession (as if it was ever out). And what do we see? ‘Experts’ and reporters clamoring for more stimulus. But if Japan has shown us anything over the past years, and you’re free to pick any number between 2 and 20 years, it’s that the QE-based kind of stimulus doesn’t work. Not for the real economy, that is.

 
Tyler Durden's picture

60% Of Households Get More Benefits Than They Pay In Taxes





The Congressional Budget Office (CBO) just released its annual report on “The Distribution of Household Income and Federal Taxes” analyzing data through 2011 on American households. The major finding of the CBO report is that the households in the top income quintile are the real “net payers” of the US economy. The highest income quintile is basically financing the entire system of transfer payments to the bottom 60% and the entire operation of the federal government. And yet don’t we hear all the time that “the rich” aren’t paying their fair share of taxes and that they need to shoulder a greater share of the federal tax burden?

 
Tyler Durden's picture

Despite Record Highs, These 5 'People' Are Still Flipping Out





Despite the apparent economic and profit news improvements recently, JPMorgan CIO Michael Cembalest notes there are a few instances where people are still flipping out. It’s worth reviewing them, he suggests, as they're indicative of risks and opportunities in financial markets heading into 2015, and of the continued presence of central banks affecting asset prices.

 
Tyler Durden's picture

Destroying The Myth That Lower Gas Prices Boost Consumption





While the argument that declines in energy and gasoline prices should lead to stronger consumption sounds logical, the data suggests that this is not actually the case.

 
Tyler Durden's picture

Modern Slavery: It's Not Just For Greek Teachers





While forcing citizens to work for no money may appeal to European policy-makers as a solution to their youth unemployment problem (as we discussed here and here), it is a problem that covers a stunning 35.8 million people in the world who are classified as slaves, according to the latest data.

 
Tyler Durden's picture

Confidence Lost - (Or When Words No Longer Matter)





Words, numbers, earnings and more at one time had a believable meaning. But that was a very long time ago. So long – even the news media seems to have forgotten what the meaning of words like business, free markets, capitalism and others once meant. Now it's nothing but a televised version of crony styled capitalism cheerleaders rolled out one after another in such procession P.T.Barnum would be proud. The problem is the more they talk – the more people tune out. For no amount of words stated matter any longer. Nor do the myriad of “charts” “reports” or so-called “facts” they hold up as evidence. No one is listening or watching. And what’s worse? Nobody now cares.

 
Phoenix Capital Research's picture

The Great EU Farce Continues… But For How Much Longer?





It’s amazing to watch, particularly when you consider that it is now public information that Draghi actually didn’t have a plan when he first claimed this and is effectively making up policy on the fly.

 
GoldCore's picture

Cameron Says Second Global Crash Looming - Russian Relations Worsen at G20, Japan in Recession





David Cameron warned last night that the global economy risked another crash and said in an article that 'red warning lights' were 'flashing on the dashboard of the global economy' and the eurozone was 'teetering on the brink' of another recession.

 
Tyler Durden's picture

The Oil Rout's First Megadeal: Baker Hughes Folds, Sells To Halliburton For $35 Billion





While it was already leaked in the past week that oil service giant Halliburton would seek to purchase Baker Hughes, or, if the smaller oilservice company did not accept the proposed terms, make a hostile run at its board of directors, it was unclear how the Houston company would respond. As the Houston Chronicle summarized, BHI had "to make a tough choice: surrender control on a rival's terms or face months of sunken oil prices and cost pressures alone....Halliburton's demands come as crude prices have fallen dramatically and as the U.S. oil industry looks to an uncertain future. Much is unclear: how much oil producers will rein in equipment and service spending, whether oil prices will sink or swim, and how much Baker Hughes would be worth in six months after what would likely be a bruising battle for control of its board." Moments ago we got the answer and Baker Hughes shareholders decided they have had enough of the volatile oil price and are happy to cash out at this point, in a $34.6 billion deal that values BHI shares at $78.62/share.

 
Tyler Durden's picture

America: "Land Of The Not-So-Free" If You're A Woman





According to the International Centre for Prison Studies, nearly a third of all female prisoners worldwide are incarcerated in the United States of America. There are 201,200 women in US prisons, representing 8.8% of the total American prison population. As Forbes' Niall McCarthy reports, China comes a very distant second to the US with 84,600 female prisoners in total or 5.1% of the overall Chinese prison population. Russia is in third position – 59,000 of its prisoners are women and this comes to 7.8% of the total. Either American women are the worst-behaved in the world, or the politically-expedient "prisons-first" culture has gone too far.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!