Red Alert from Wall Street - Jobs Report, DECLINE

[Cowlesy]

Everyone here was thinking there would be much slower growth in jobs, but there was a DECLINE in jobs.

Expect the Fed to cute rates in September now.

[JosephTheLibertarian]

Everyone here was thinking there would be much slower growth in jobs, but there was a DECLINE in jobs.

Expect the Fed to cute rates in September now.

I want to know... why do people expect a president to create jobs? LOL that's just silly

It just comes down to taxes and regulations. If you regulate, you shut down a true free market. If you overly tax, you run businesses out! Cutting taxes will attract businesses, which will in turn create jobs. If you deregulate industries, you open up the industries to MORE people! A true free market is an economy where every one has the chance to get in it. A lost concept.... the concept of leaving people alone. How was health care before the government got involved? We didn't have people going without health care in the 50's! Why is that? Certainly not because of government involvement.

Just leave it alone.

[Cowlesy]

Well the big news here is the consensus was that we were going to see about 140,000 jobs created in the economy, but instead we saw a contraction of 4,000 jobs, AND prior quarter numbers revised downward.

On January 1 I predicted we would end the year in a recession. Everyone said I was completely nuts. I guess we'll see now.

Didn't Ron Paul say a few days ago that "we're seeings signs we're on the brink of really bad times" --- or something along those lines?

[rodent]

Everyone here was thinking there would be much slower growth in jobs, but there was a DECLINE in jobs.

Expect the Fed to cute rates in September now.

I was reading a paper about the M3 reports, how they stopped publishing, and then I read Ron Paul's analysis of the Federal Reserve. Then I went over to the NYSE, and saw GLD was trading at the low end of the range, so I bought a ton of it a few weeks ago, and said I'd dump it if it dropped beneath a certain level, but hold it otherwise.

I am very satisfied. Ron Paul made me a lot of money -- granted, that money is quickly becoming worthless, but he did make me a lot of money.

[G-khan]

Everyone here was thinking there would be much slower growth in jobs, but there was a DECLINE in jobs.

Expect the Fed to cute rates in September now.

I must have been typing the same thing as you posted this. Sorry did not mean to have two threads on this...

[wgadget]

Well the big news here is the consensus was that we were going to see about 140,000 jobs created in the economy, but instead we saw a contraction of 4,000 jobs, AND prior quarter numbers revised downward.

On January 1 I predicted we would end the year in a recession. Everyone said I was completely nuts. I guess we'll see now.

Didn't Ron Paul say a few days ago that "we're seeings signs we're on the brink of really bad times" --- or something along those lines?

And to think these are just the figures they're giving us. I wonder what the actual figures are.

[JosephTheLibertarian]

Well the big news here is the consensus was that we were going to see about 140,000 jobs created in the economy, but instead we saw a contraction of 4,000 jobs, AND prior quarter numbers revised downward.

On January 1 I predicted we would end the year in a recession. Everyone said I was completely nuts. I guess we'll see now.

Didn't Ron Paul say a few days ago that "we're seeings signs we're on the brink of really bad times" --- or something along those lines?

Well, we have to beg the corporations to expand. lol so sad.. "here... let's cut corporate taxes so that maybe they'll create jobs...please..pretty please"

Well, anything that makes Bush look bad is good news to me!

[Johnnybags]

or Wal-Mart greeters, the economy is booming folks, booming, maybe the FED can add 50 bil today to the 32 bil yesterday as candy for Wall ST. Who cares if 2.00 bucks buys an Aquifina tap water bottle. Companies can report higher earnings on less sales and Americans wil buy stock and drive the markets higher thru inflation.

[Cowlesy]

Well when we lose jobs, people spend less, can't pay their mortgages, salary increases they predicted when taking into account their ARMs which will reset next year may not see those increases.

*shivers*

[JosephTheLibertarian]

Well when we lose jobs, people spend less, can't pay their mortgages, salary increases they predicted when taking into account their ARMs which will reset next year may not see those increases.

*shivers*

That's how it is when you don't have a true free market.

I don't mean to go off into my libertarian world, I just really hate the way this system works. The corporations are taking over....

Small businesses exist because corporation haven't had a chance to take over yet, they'll get to it. I wonder how many small businesses Walmart shut down.

[MsDoodahs]

Yeah, gold is up nice this morning. :)

[G-khan]

Dollar is falling and Gold/Silver are rising and IMO signaling distress in the paper asset world..

Fed will go into print print print and print some more mode. At some point the dollar will reflect its true worth = paper.

All fiat currencies end in the same bad way and it is why our Founders included in the Constitution a protection against printing money that is not backed by something physical.

As we start losing jobs here I suspect we will get lots more bad loans and defaults on home mortgages.

[Cowlesy]

People need to remember, all the leverage used to do all these deals leave tons of companies very, very heavily in debt. Consumers are very, very heavily in debt.

People/Corporations take on all this debt based on expectations of their future earnings. If the economy even slows a little bit, Corporations won't have the expected future sales they need to keep servicing their debt. Consumers won't be receiving the expected salary increases--or even worse, could receive salaries reductions or lose jobs.

The fact that vast numbers of consumers and corporations borrowed so much money amplifies everything bad in the market.

Anyone have a bloomberg terminal at their desk and have "WEI" dialed up?

[MsDoodahs]

No.

What's "wei" ??

[Cowlesy]

If you type in WEI you get the World Equity Indices --- all markets worldwide in real time.

[MsDoodahs]

And???

CNBC on the top part was showing Euro markets down, last time I looked...about an hour ago or so, I think.

So...

Everything still down?

[G-khan]

People need to remember, all the leverage used to do all these deals leave tons of companies very, very heavily in debt. Consumers are very, very heavily in debt.

People/Corporations take on all this debt based on expectations of their future earnings. If the economy even slows a little bit, Corporations won't have the expected future sales they need to keep servicing their debt. Consumers won't be receiving the expected salary increases--or even worse, could receive salaries reductions or lose jobs.

The fact that vast numbers of consumers and corporations borrowed so much money amplifies everything bad in the market.

Anyone have a bloomberg terminal at their desk and have "WEI" dialed up?

Yes instead of a paper house of cards with all the derivatives and hedges and all, this time we have a skyscraper house of cards and one day it will come down. Thus far they have been able to paper over all the holes in the structure.

[Cowlesy]

Yeah, broadbased --- in fact there is talk that global growth is going to be revised downward as well. People say that we are only one cog and that rapid global growth will tow the line, but if global growth starts getting revised backward, it could really get ugly.

[MsDoodahs]

And they may be able to paper over this one.

That's the problem with knowing what will eventually happen...we don't know the when part.

<sigh>

Anyone ever wish that you didn't understand a damn bit of this stuff? I sometimes think it would be a lot easier.

[MsDoodahs]

Cowlesy, I just saw a breaking headline on CNBC a few minutes ago - IMF revised global growth forecasts downward.

Ugh.

[nexalacer]

Um, so this recession.... will I be better off staying in Japan getting paid in Yen or will it not make much of a difference? I'm thinking it might help the exchange rate so that I can buy up some gold and pay off some debt with less of my cash here, but I really don't understand how the markets work together.

[G-khan]

And they may be able to paper over this one.

That's the problem with knowing what will eventually happen...we don't know the when part.

<sigh>

Anyone ever wish that you didn't understand a damn bit of this stuff? I sometimes think it would be a lot easier.

Yes they will need to create another bubble somewhere in order to continue holding things up? I thought it was all going to crash in 2001 with the NASDAQ bust?

They are good at keeping it going..

By the way I saw 9/11 as what saved things from collapsing then. It gave them reason to go to war and when at war it opens the printing press. Lots of dollars went all over the globe after 9/11 not to mention they created 100,000 plus jobs right away with things like Homeland security..

I wonder what they will do this time?

[JosephTheLibertarian]

Yeah, gold is up nice this morning. :)

You buy real gold or you invest in the market of it?

[G-khan]

Um, so this recession.... will I be better off staying in Japan getting paid in Yen or will it not make much of a difference? I'm thinking it might help the exchange rate so that I can buy up some gold and pay off some debt with less of my cash here, but I really don't understand how the markets work together.

Don't know if their is a safe place to hide if that is what you are thinking..

Best bet IMO is to hold on to real things and not paper promises?

[nexalacer]

I think real gold and silver are great, but I'm also looking into some BullionVault (http://www.bullionvault.com) stuff... Like the idea of large, secure amounts of gold in Switzerland.

[nexalacer]

No, I'm living here temporarily, but I don't plan on hiding here or hiding in the Yen. I just wonder if I will have a small window from the time the US economy goes into recession before it strikes Japan. That is, will I have time to take advantage of getting paid in foreign currency in order to more quickly pay off debt/buy large quantities of tangible assets?

[ButchHowdy]

Ron actually predicts a crash:

http://www.prisonplanet.com/articles/august2007/290807_eventually_collapse.htm

Whether it happens in one day or over a span of time is irrelevant.

[MsDoodahs]

Joseph, originally both, sold the "paper" gold when gold hit its highs a while back.

The physical stuff is for ... caca meets rotary tin foil scenarios only. ;)

[MsDoodahs]

Ron actually predicts a crash:

http://www.prisonplanet.com/articles/august2007/290807_eventually_collapse.htm

Whether it happens in one day or over a span of time is irrelevant.

You've heard that saying, "Rome wasn't built in a day."

I have my own version; I say "Rome didn't fall in a day."

:)

[G-khan]

No, I'm living here temporarily, but I don't plan on hiding here or hiding in the Yen. I just wonder if I will have a small window from the time the US economy goes into recession before it strikes Japan. That is, will I have time to take advantage of getting paid in foreign currency in order to more quickly pay off debt/buy large quantities of tangible assets?


Its all a guess at when shit is going to happen and anyone who tells they know what is going to happen I would avoid them.

I wish I could tell you what to do and when but I can't as I have no idea. I can say this, that at least if you buy things you own something. Paper is just a promise to give you something - even stocks are just paper.

What I try to do is own things as that makes the most sense to me and you will need to do what makes sense to you..

If the paper empire does collapse I don't think there will be a real good place to hide and it will be ugly for all globally?

[MsDoodahs]

I don't know if it will be ugly for all, I figure it will be ugliest for the US...but I don't know that, it's just a guess on my part.

[angelatc]

They want it to be ugly for the US. They want the elite to be able to buy the houses people can't pay for, and they want to give the Mexican economy a chance to catch up. The NAU won't work properly if Mexico doesn't get a somewhat equal economy.

[G-khan]

Here is a picture I have of 1923 or 1924 a German lady using the German mark to cook in her wood stove.. It took a wheelbarrow of marks to buy a loaf of bread?


http://goldismoney.info/web/inflation.jpg

[MsDoodahs]

They want it to be ugly for the US. They want the elite to be able to buy the houses people can't pay for, and they want to give the Mexican economy a chance to catch up. The NAU won't work properly if Mexico doesn't get a somewhat equal economy.

So....if someone made a totally ignorant choice in purchasing a home and bought a waaaaaaaaaay overpriced house that they could not afford...and if the bank takes back the property and then I come along and buy that house for a value that I believe to be fair, that makes me one of the elite?
:confused:

[G-khan]

DOW down 200 now!

[ButchHowdy]

So....if someone made a totally ignorant choice in purchasing a home and bought a waaaaaaaaaay overpriced house that they could not afford...and if the bank takes back the property and then I come along and buy that house for a value that I believe to be fair, that makes me one of the elite?
:confused:

Your point not only proves how we're being deceived but how this subprime debacle has become the perfect scapegoat for the REAL problem:

"Liquidity or lack thereof"