The "up-to-the-minute Market Data" thread

Productivity Figures Greatly Exaggerated

Productivity may have increased on average 2.2 percent per year in the non-farm business sector over the last 20 years, a cumulative increase of 56 percent, yet these numbers are not what they seem.

While the government applauds the so call economic recovery with numbers in productivity the numbers are deceiving.

How come we are to have an increase of productivity but the income is declining?

Oh, that is the beauty of deception.

Productivity figures like these are misleading and incomplete. In theory productivity increases should generate higher paying jobs and a lower cost of living as technology, capital, and process improvements are employed to make labor more efficient. But this applies only if the work is done in American factories by American workers. In reality, much of the recent productivity improvement reported by American corporations stems from shifting work abroad, often to low-wage nations. Intuitively, if a corporation fires most of its workers at home and outsources most of its manufacturing, it can dramatically increase its reported output per American worker.

So now in our nation when it comes to numbers to make everything look peachy numbers are taken from foreign manufactures of America goods to show productivity in our own nation.

But for the savvy connoisseur this shows how bad things are when deceiving practices like this one are allowed to be used, in America productivity comes at the expenses of less working hours, less labor and salary cuts but do not expect anybody in government to show you how that works because is better to keep the population dumb and stupid of how the deception really works.

Now the true behind the deception for those that have a stomach to handle the truth.

Thanks to the loss of 3.7 million manufacturing jobs in the last 20 years, we now have fewer people employed in manufacturing than we did in 1955. This is truly remarkable when you realize that America's population has risen by 77 percent in the interim (from an estimated 167 million in 1955 to 296 million today).

Yes life is still great for those that lives in Richistan America.

www.economyincrisis.org...



[edit on 8-10-2009 by marg6043]

Spot Gold 1061.40 new all time high

USD 75.767 new yr low

EUR 1.48168 day high

GBP 1.61183 day high

YEN 88.244 ~floating~

I follow it on my site...at the bottom of the page...netdania window...the world markets tab...

Multimedia Mirage - Financials
multimedia-mirage.redirectme.net...



Dow Jones Industrial Average 9,830.32 12:31pm ET Up 104.74 (1.08%)
S&P 500 INDEX,RTH 1,070.43 12:31pm ET Up 12.85 (1.22%)

WTI Crude rising now? 72.47 ?

BreakingNews
twitter.com...

U.S. sales rose 1.0% from the prior month but declined 17.7% from the prior year, to $317.9 billion.

Wholesale U.S. inventories in August 2009 decreased 1.3% from July and declined 14.7% from August 2008.

30 Yr Bond sale sucked...2.37 B2C?

Thirty-year bonds sold at lowest yield since March
www.marketwatch.com...

NEW YORK (MarketWatch) -- The Treasury Department sold $12 billion in 30-year bonds (UST30Y 3.97, -0.03, -0.70%) on Thursday at a yield of 4.009%, the lowest level since the March auction. Bidders offered $2.37 for every $1 of notes available, compared to $2.65 on average in the last three reopenings, where the debt sold has the same maturity and coupon as the original issue. Indirect bidders, a class of investors that includes foreign central banks, bought 34.5% of the auction, compared to an average of 48.6% at the last three reopenings. After the auction, yields on the benchmark 10-year note (UST10Y 3.17, -0.01, -0.44%) , which move inversely to prices, turned higher and rose 2 basis points at 3.21%.

And now the beat-down begins...

EUR/GBP/YEN/Gold all now falling...USD rising... :shk:

Where in the name of Sam Houston is everyone anymore while all this carp is going on?

[edit on 10/8/2009 by Hx3_1963]

reply to post by marg6043

I see that there must be some kind of misunderstanding regarding the stuff that flies around the market. When the influential folks decide that the Dow will gain on value, there is a possibility that some economic indicators released by the government may not be favorable to the intention. And so it was decided a long time ago that the influential traders will be become a part of private economic forecasting. For example, the government releases the unemployment figures, and they show that the unemployment has risen from 9.7% to 9.8%. That's bad, but you need to turn the bad news into the good news; you need to present your own estimate that says you expected an increase from 9.7% to 10.2% -- and the huge army of little greedy investors will rejoice upon digesting the better-than-expected realities. It also works conversely when there is enough money in the piggy bank and it's time to shake.

It's a good manner not to mention any of this above, and so no one in the financial business does.

So the folks at the helm make sure that the informative, comparison-based financial news is widely available. Let's see see the first paragraph for today coverage:

Stocks advanced Thursday after jobless claims beat and Alcoa kicked off the earnings season with exactly what analysts wanted to see: better-than-expected revenue.

The estimates made by market analysts do not reflect upon an impartial outlook; they are tailored to serve other needs. Not to worry and get upset. It's like going to the movies to see a horror/fiction flick: not real.

reply to post by stander
Yer good...

No wonder you get to empty the cans in Mr Goldmans Office

Now Y'all have heard that BLS might be in error...

Add about 825K to the unseen list... :shk:

and speaking of unseen...

California Raises Yields, Scales Back Bond Sale to $4.1 Billion
www.bloomberg.com...

Oct. 8 (Bloomberg) -- California, which struggled to get individual investors to buy its long-term bonds this week, raised yields to entice institutional buyers today and reduced the amount it sold by 8 percent to $4.14 billion.

The U.S. state with the most people, the lowest credit ratings and record 12.2 percent unemployment sold $505 million to retail buyers, according to California State Treasurer Bill Lockyer’s office. The rest were sold to institutions.

“We were able to get a $4 billion plus deal in a cold and inhospitable market,” Tom Dresslar, spokesman for Lockyer, said in an e-mail late today.

The largest single maturity, $1.75 billion of taxable 30- year Build America Bonds, was priced to yield 7.23 percent, 0.95 percentage point more than comparably rated corporate bonds, data compiled by Bloomberg show.

7.23%...

Hey Stander...is Mr Goldman really pushing for 29.99% like the rest of the schmoes...just askin'...

reply to post by Hx3_1963


If he can't find out, I'll see what I can get outta my new BFF Timmy

reply to post by lernmore
... ... All I can say is...

Hey...uh...when ya get that number...think you can get him to ~float~ us say a $2B bond to create a Year-Round Oktoberfest Park in Michigan?

Say...Frankenmuth?

I'm sure we'd have a shot of ~stimulus~ with this !!!

Or just plain shots...at anyone who tried to shut it down!

[edit on 10/8/2009 by Hx3_1963]

More in the housing front, get ready tax payers because the troubles are not over, Freddy and Fanny are going to need more tax payer money.

But also FHA is starting to show stress as well and this one have their mortgage backed by the the tax payer regardless they are going to need a bailout also.

Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.

Running questions about the F.H.A.’s future — underscored by interviews with policy makers, analysts and home buyers — came to the fore on Thursday on Capitol Hill. In testimony before a House subcommittee, the F.H.A. commissioner, David H. Stevens, assured lawmakers that his agency would not need a bailout and that it was managing its risks.

But he acknowledged that some 20 percent of F.H.A. loans insured last year — and as many as 24 percent of those from 2007 — faced serious problems including foreclosure, offering a preview of a forthcoming audit of the agency’s finances.

So there you have it the FHA is heading for trouble and they are going to need our tax payer to pay for their bond holders.

Since the bottom fell out of the mortgage market, the F.H.A. has assumed a crucial role in the nation’s housing market. Created in 1934 to help lower-income and first-time buyers purchase homes, the agency now insures roughly 5.4 million single-family home mortgages, with a combined value of $675 billion.

In addition, these loans are bundled into mortgage-backed securities and guaranteed through the Government National Mortgage Association, known as Ginnie Mae. That means the taxpayer is responsible for paying investors who own Ginnie Mae bonds when F.H.A.-backed mortgages hit trouble.

“It appears destined for a taxpayer bailout in the next 24 to 36 months,”

www.nytimes.com...

But no to worry this nothing but bad news that actually are not there and they are no real so the markets will sure re bounce and rejoice on the next round of fictitious bailouts and bad news.

We are doing just fine and everything is peachy.

Yep just Peachy...

U.S. Job Openings Fall to Lowest Level in at Least Nine Years
www.bloomberg.com...

Oct. 9 (Bloomberg) -- Job openings in the U.S. fell in August to the lowest level in at least nine years, signaling the economy hasn’t improved enough to prompt companies to take on more staff.

The number of unfilled positions fell by 21,000 to 2.39 million, the fewest since records began in 2000, the Labor Department said today in Washington. Openings were down by 2.4 million, or 50 percent, since peaking in July 2007.

The report showed hiring and firing both slowed in August, indicating last month’s acceleration in payroll losses may have been due to a lack of employment rather than a pick up in dismissals. Labor Department figures last week showed employers cut staff by a net 263,000 workers in September and the unemployment rate increased to the highest level since 1983.

“We’re not going to signal the all-clear on the jobs market until we see hiring pick up,” said Zach Pandl, an economist at Nomura Securities International Inc. in New York. “Firing has cooled off but firms have not really ramped up hiring activity.”

reply to post by Hx3_1963


Let see my friend, the big too fail are going to need money for their toxic assets, the mortgage companies that we bailout with the banks are going to need more bailout also, then the FHA is joining the bailout give away, Obama is to stimulate the economy again extending the tax brakes, unemployment benefits and first time buyers.

No job creation in site and on top of that the health care reform is in the making, targeting retirees like my husband that just got an e-mail telling him that Obama health care reform and give away for the private insurance business is going to make retirees buy private insurance and eliminate the government run program.

So much for the socialization of health care.

Well what can I say the treasury most be burning those presses and now its going to need rolls of toilet paper to print more money.

Life in America is just wonderful, if you are not a tax payer in what is left of the middle class.

reply to post by Hx3_1963


Let me add to the job problems and the news that are not really news but just the bad news nobody wants to hear.

Many new jobs are being created but what the media generally fail to report is that most new jobs are in non-tradable service industries or in government. Even when jobs are created in manufacturing, these tend to be in industries like building materials which do little exporting. Total manufacturing employment has plummeted to the levels of the 1950s. In any case, overall job creation is not keeping pace with the rise in our nation's population.

Yes minimum pay jobs is something for the Markets to rejoice while the tax payer is the one bailing them out.

Job growth over the last five years is the weakest on record. The US economy came up more than 7 million jobs short of keeping up with population growth. Over the past five years the US economy experienced a net job loss in goods producing activities. The entire job growth was in service-providing activities--primarily credit intermediation, health care and social assistance, waiters, waitresses and bartenders, and state and local government. US manufacturing lost 3 million jobs, almost 17 percent of the manufacturing work force. The wipeout is across the board. Not a single manufacturing payroll classification created a single new job.

But is ok, America have jobs is just that people are too lazy to get them or that is what many tell us to explain why the unemployment lines are full

Communications equipment lost 43 percent of its workforce.

Semiconductors and electronic components lost 37 percent

Electrical equipment and appliances lost 25 percent

motor vehicles and parts declined 12 percent,

(even when in America people own at least two cars per household)

Furniture and related products lost 17 percent

textile mills declined 43 percent

plastics and rubber products declined by 15 percent

beverages and tobacco products experienced a 7 percent shrinkage

information sector lost 17 percent

telecommunications work force declining by 25 percent

www.economyincrisis.org...

And speaking of the Treasury...

FACTBOX-Steps US Treasury could take to avoid debt limit
www.reuters.com...

Oct 9 (Reuters) - Standard & Poor's Ratings Services said on Friday it expects the U.S. Congress to raise the government's $12.1 trillion debt limit this quarter.

Publicly held U.S. debt subject to the ceiling currently stands at $11.87 trillion, leaving a $230 billion cushion for Treasury borrowing, according to the Oct. 7 Daily Treasury Statement.

S&P said that although the required legislation may become enmeshed in other political debates, raising uncertainty in the debt markets and perhaps disrupting some government functioning, "we do not believe that the debt ceiling issue will prevent timely service of U.S. federal government debt."

S&P rates U.S. government debt AAA with a stable outlook.

The Treasury asked Congress in August to raise the debt limit as soon as possible to keep the Treasury from defaulting on its financial obligations

At that time, it predicted it could hit the limit, which was raised in February, as soon as mid-October. The Senate is expected to act in November.

Below are brief descriptions of steps the Treasury could take to avoid hitting the debt ceiling.

CASH MANAGEMENT BILLS

The Treasury could cut issuance of longer-term government debt and rely more heavily on short-term cash management bills to gain more day-to-day control over the amount of debt outstanding. Cash management bills are typically issued for days instead of normal Treasury bill maturities of four weeks to one year.

STATE AND LOCAL GOVERNMENT SERIES SECURITIES

The Treasury could suspend sales of state and local government series securities, known as "slugs," which are special low interest-bearing Treasury securities offered to local governments and other tax-exempt entities for the investment of bond-issue proceeds. Slugs, which count against the debt limit, were last halted in September 2007 to avoid hitting the ceiling then.

CIVIL SERVICE RETIREMENT AND DISABILITY FUND

As it has in the past, the Treasury could suspend payments to the Civil Service Retirement and Disability Fund, a government employee pension fund. For the first 11 months of the fiscal year, the government has contributed an average of $5.63 billion to this fund every month.

EXCHANGE STABILIZATION FUND

The Treasury could dip into this seldom-used pool of money earmarked to stabilize currency rates. For the past year, the Treasury has pledged $50 billion from this fund to guarantee money market mutual funds, but that program is due to expire on Sept. 18.

GOVERNMENT SECURITIES INVESTMENT FUND

To free up cash, the Treasury can stop investing in a federal employee pension fund known as the G-fund. Normally, the G-Fund is reinvested daily in government securities. But the Treasury has statutory authority to retain a portion of the fund daily, as long as it provides proper notification and reimbursement for any lost earnings from the move.

FANNIE MAE AND FREDDIE MAC DEBT

The Treasury could sell its holdings of Fannie Mae and Freddie Mac debt, which totaled $165 billion as of Sept. 30, 2009.

reply to post by Hx3_1963


Well forcing military retirees to buy private insurance will also save money, occurs the promises that military retirees were protected by congress to enjoy government care will become a hot topic that will take time in the media for many months to come as the retirees are gearing to fight this one.

Still how can the government save jobs when it still have to bailout the elite in the nation.

Sorry to say this but for whom the debt ceiling is been raised? for whom money is been saved for?

Yes for more bailouts.

October surprise from bank earnings?
www.marketwatch.com...

Some experts worry results may be much more negative than investors expect

More at Link...

Gold: $1,050

High time to buy gold! Or get it some other way.

Just wondering: what's the general opinion these days on what happens above 10,000?


[atsimg]http://files.abovetopsecret.com/images/member/d0a54c64af20.png[/atsimg]

Source


Are the real movers & shakers going to take flight before you can say 'Good night America'?

(And is Nerves-of-Steel-G-B-M still betting his grandma's life-savings on current gains holding firm, arrows pointing, unabashed, into the clouds?)

Originally posted by pause4thought
Just wondering: what's the general opinion these days on what happens above 10,000?


[atsimg]http://files.abovetopsecret.com/images/member/d0a54c64af20.png[/atsimg]

All the general opinions are not in yet, but maybe you can use a special opinion. Mr. Goldman says that things are bullish and it will stay that way above 10,000.

reply to post by stander


The bigger the load you carry, the more distorted things become.

I wonder what happens when Mr. G comes face to face with the laws of physics?

Originally posted by pause4thought

I wonder what happens when Mr. G comes face to face with the laws of physics?

energy is mc square
change the physics if you dare
change the wild geese into a cloud
and see what's that all about
see what's inside Albert's brain
then take a bath in paper rain



~ Viva Maria! ~

Whoa, it just hit me!!!!!

The markets are doing better than expected even when futures were dim, but the dollar has been raising against the Euro.

And the talks of the Federal Reserve raising the interest rates at any time is starting to show its greedy heat in Bernankes head or what it could mean is that Bernankes "masters" wants the interest raised.

So if you add the increasing good fortune of the Markets, The decrepit steady downfall of America work force you wonder what it means.

It means that the Markets most reach 10,000 before Bernanke and the Fed starts to increase interest rates after claiming "total economy recovery" even if the rest of the nation goes on wealthfare.

And this people is just my personal opinion as usual.

After all I don't work in a big fancy building for people like Goldman Sach.

BTW Stander you know I love your imput and how you keep things going and positive for all of us.

So just take this post can call it a rant.

Originally posted by pause4thought
Just wondering: what's the general opinion these days on what happens above 10,000?

We must ask . . .

General, what do you think will happen above 10,000?

We had much bigger losses in Vietnam but stood our ground.

What? Oh, you mean above 10,000 points on the Dow chart?
Oops. We must ask someone else to take a look . . .


what do you see up there?
is it good or bad?
tell us only good news
so we wouldn't get mad




~ chicken soup! ~