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Wow! 243,000 New Jobs Created in January
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US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
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China cancels America's credit card
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New York Post Claims Census Falsifies Unemployment Figures
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Getting It Wrong on the BLS Employment Report
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Ben! Say It Ain't So! America Could Be Like Greece?
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Wow! 243,000 New Jobs Created in January
- 50230 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 184234 reads
China cancels America's credit card
- 27559 reads
New York Post Claims Census Falsifies Unemployment Figures
- 950018 reads
Getting It Wrong on the BLS Employment Report
- 96941 reads
Ben! Say It Ain't So! America Could Be Like Greece?
- 30698 reads
The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
- 1216133 reads
New York Post Claims Census Falsifies Unemployment Figures
- 949880 reads
How Many Jobs Are Needed to Keep Up with Population Growth?
- 361831 reads
VAT or Value Added Tax is Getting a Look in D.C.
- 345332 reads
U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
- 314238 reads
Tax Cuts for the Rich Do Not Generate Jobs
- 279657 reads
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minus the funds starting at age 35 with age discrimination. So? When you write up a nice overview on executive pay and how < 1% hold the most wealth in this country I might take heed, but a retirement at 55 with funds is better than what is going on in the U.S.....without funds.....so everyone should be like Americans, a nuclear bomb of homeless, who have no retirement, who are too old to work too?
I've thought this many a time that we're in a new feudal system and now corporations have more power and run the show than sovereign nations. It's pretty obvious we're a bunch of serfs.
IF they are able to pay their bills then it becomes a story they need to tell. This is no different than the crisis that private corps went through in the 6 months following Lehman.
As midtowng said they can't afford bad news every day. Plenty of banks and finance companies were put under the same pressure when they had good cash flow. Their swaps cost went through the roof and they were going to have trouble issuing debt so they mounted PR campaigns to overcome the bad news because they knew they were healthy financially.
During all this I see very little coming out of Greece, Spain, Italy, Portugal or Ireland government officials to calm the market. Either they do not understand what is going on or they do not care. Its a PR game right now.
The way Greek swaps are going they will default by years end unless the ECB buys everything they are selling. Doesn't that place an unfair burden on the rest of Europe as that is what is stepping on the throat of the Euro? The EC now CAN'T let Greece default after making such a play to bail them and the rest out. The Euro will be worth about 60 cents before this is over although only because the dollar is the wcr otherwise we'd be in the same boat.
Now if they can't pay these bills thats another story.
Several thousand stories on the net can't create a crisis if they can pay their bills. Greece is going to default regardless of the bailout because no one wants their bonds. The ECB is buying Greek bonds because no one else will.
They are at the mercy of the market investors because they are so heavily leveraged. If that were not the case they would not have needed a bailout.
Borrow and spend hits a wall so its a conspiracy?
the Greek government has identified at least 580 job categories deemed to be hazardous enough to merit retiring early — at age 50 for women and 55 for men. Jobs like hairdressers.
But the Life Expectancy in Greece is 80
There is now a criminal probe but there is some scary news about some engineer changing the design, on the fly. That is scary stuff, it takes months to model and test a design and the various interactions so if that's true, I believe a geek is going down frankly. You cannot change a design on the fly like that, but I don't know the details and if they did any further regression testing, but on surface, that sounds really bad.
n the other hand, executives love to blame the geeks, so don't be so quick to judge until we find out proof.
Also, call me nuts, while we have experts all over gravely concerned on how this attempt is going to increase the spill rate, which I suspect it will, really depends on how the pipes were working to hold back the spill rate but from the velocity, was it really that much?....
Anywho, I've just got a gut feeling this one is going to work. I don't know why I think that and I might eat my words but of all of the attempts this one has made the most sense to me. It's not ideal, I'm not so sure about the temperature issue plus the overall underwater weight/buoyancy and esp. the precision required at that depth, additional the force required to even seal any hose/pipe with a gushing well, but it sure makes more sense than throwing golf balls at a gushing stream running at a velocity of an airliner jet or just plopping down some little cap with a hose at the top.
I'm watching the mechanical arms and it appears they have more control that I originally believed they would, but it's weird, it seems the space station has better technology and those guys buy parts on ebay for outdated technology!
(that is just a comment, I don't know the details but it does seem overall the technology isn't as advanced in what I'm seeing that what is available in space. On land of course is a no brainer because that is where most technology is used).
The IMF is demanding these nations "reform their labor markets" when the problems, the losses are due to the housing/financial/derivatives crisis.
So, the title of the post is dead on, it's about sovereign default.
If this is about the Spanish labor market, its misleading as is.
They are under attack, particularly by the IMF to do "austerity measures" for help.
Yet it appears it's all about the banksters (surprise, surprise) and a massive real estate bubble, over built...which has to do with ??? on labor beyond not expanding other areas of real economic growth and letting a bubble grow out of control...ahem, similar to the U.S.?
Seriously, over and over again I see a few things...firstly the threat of sovereign collapse, simultaneously an attack on labor/workers.
It's real CT, reminds me of create a crisis for some agenda to rip asunder social safety nets and labor protections.
How convenient that labor must be "reformed" straight away in the interim Spain gets a bunch of downgrades on it's sovereign debt.
If labor was in this "dire need of reform", where was the IMF and EU two years ago?
This came in today:
I still think that the worries over Spain are somewhat overblown. However, Spain's financial system cannot tolerate this continuation of bad news days after day.
But I've seen hundreds of other shots with correct booming. Not that I don't believe BP was negligent in clean up, that's pretty clear at least initially, but how widespread is this incompetent booming? NOLA press is pretty good at coverage but this guy's post, it's so loaded with swear words I couldn't figure out what he's really saying on what should be done for competent booming beyond firing someone.
Graph looks like a cliff when the NYSE opened this morning. Right now it's bouncing along the bottom. Things change, which is why this isn't an Instaopulist.
Google BP chart here.
See Much More ado about oil, more ado about oil and much ado about oil, see the new articles list at the top.
The spill widget with details is in these posts.
One thing about violent surge is the diameters of the pipes, velocity and the leaks on the other ones. If the same amount of oil is already leaking and not curtailing it at all on the current situation, if the diameter of the new pipe is there it might reduce the velocity or rate of flow by having a wider surface area, which would make it easier to cap.
Or it might be as others are worried about.
I don't doubt that "BP PLC is facing rising public anger" because it seems they value public relations more than actually cleaning up their messes.
http://www.dailykos.com/storyonly/2010/5/11/865387/-Fishgrease:-DKos-Boo...
This is a report by an oil-industry insider who comments on what appears to be negligence on BP's part in the cleanup efforts. If you'd rather watch it on video, skip ahead about two minutes at this link:
http://www.youtube.com/watch?v=Vx8kMXufu3w&feature=player_embedded
NSFW! Lots of swearing. I guess they don't call 'em roughnecks for nothing!
are worried about a default, so they are "buying them".
I think this has nothing to do with Spain's labor market frankly, or even Greece. It's the amount of money it took to bail out this banking ponzi scheme was too much for nation's to take on.
The bailout there and here and elsewhere is all about the banks and moving their debt onto the sovereign books.
Former Central Bank Head Karl Otto Pöhl Bailout Plan Is All About 'Rescuing Banks and Rich Greeks'
There are grumblings by the Bundesbank that the ECB is buying Greek bonds instead of Irish and Spanish debt (ignoring the fact that they are still solvent and are issuing debt).
Further Evidence
This is why I say let them fail. I doubt we'd be in a barter economy for long. I lived through one briefly during the blizzard of 78 and was able to do everything I wanted without using a bank for nearly a little over a week. Probably the same time frame the system would be in chaos if the top 6 banks went under here. Our bailout protected the top banks and the wealthy bank shareholders thats it.
All of these bailouts is just to perpetuate the status quo. I wish people would see that.
Where can we sign up for this?
I believe this has been part of the problem though. This can all be traced back to killing Bretton Woods. Bretton Woods prevented deficit spending. Bretton Woods failed not because of the tie to gold but because of the dollar being the world reserve currency. The unitas or bancor being tied to one currency or the other would have been worse.
The world economy is in trouble from over spending and over leverage and the answer is?
Borrow more and put more debt into play. This is great for the banks although no one seems to get that part. Everyone is in a hurry to maintain the status quo. Everyone got on the debt bus and did well and profited and now everyone is pointing in any direction but their own as a problem. When something can so easily be made into a joke as this skit did there is a real denial going on all around.
The sooner the world currency reserve is changed to a mix of dollar, euro, oil, gold, yen, pound etc the better off we will be in the long run because the Fed and its owners will not be able to manipulate us or our money so easily.
I missed that you had posted this elsewhere.
Sunday Morning Comics, Advertising Revenues Edition, along with other humor related to the European debt crisis.
$4,300 in fines per barrel released into the Gulf from the Clean Water Act which is NOT capped. At 25,000 barrels a day for 120 days thats about $13 billion - plus actual clean up costs that will probably run $2-$3 billion before this is over.
I love how after this last failed attempt we no longer see what's coming out of the BOP cracks, they showed the end of the riser again for awhile and now its robot arms.
And its coming back.
How else are we supposed to know what the banks are sitting on? The system was changed back FROM mark to market to allow for fraudulent book cooking.
The only reason not to use it is to perpetuate fantasy accounting and crooked books to again maintain the status quo.
I can guarantee that banks are showing home values on their books right now that they would NEVER lend against.
Ahhh! The double standard that we need to keep right?
Hilarious take on the European Crisis, worth a minute to watch.
Where Are They Getting The Money for the Bailout?
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