Thursday, December 10, 2009

Friday 12-11 4.2 Million Americans on Emergency Unemployment Compensation

327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! So as everyone is focused on the benign picture of initial claims in the last week which was "only" 474,000, the number of people rolling off continuing benefits has exploded and is now a stunning 592,579 only in the last two week. Look for this number to keep going into the stratosphere as the 6 month continuing claims cliff keeps getting hit by more and more people who are unemployed and keep looking not only for believable change, but actual jobs to go with it.

At this rate those collecting EUC will surpass those on continuing claims (5.5 million) within a month.

David Rosenberg's 2010 Outlook "The Recession Is Really A Depression" household net worth has contracted nearly 20% over the past year-and-a-half, or an epic $12 trillion of lost net worth, a degree of trauma we have never seen before.

Oh, You Think You're Gonna Crank Out Bonds? The Congress wants to increase the debt limit by 1,8 trillion dollars. So who is going to buy our IOUs? Take a Look at what A Liberal Senate opposition leader in Australia said, "there needs to be a debate about Australia's ''contingency plan'' for a sovereign debt default by the US or even by a local state government

Israel’s notorious Hannibal procedure: army directive behind shooting of mental patient

Calls Mount For Resignation Of Canadian Defense Minister Over Afghan Prisoner Torture 23 former ambassadors urged Ottawa to remove the defense secretary from his post because of his alleged knowledge of torture.

Sound familiar? US refuses to allow UN inspectors to investigate its WMDs The United States said that it remained opposed to international inspections of biological weapon sites, even though it stressed its commitment to a UN treaty covering such arms and invaded Iraq in part over its alleged stalling of -- UN weapons inspectors.

The Morphing of the Financial Reform Bill Into an Eternal Bailout Bill for Oligarchs The evil ones have added an amendment to the Bill that will allow the Fed to pump any amounts of money it so chooses to "financial holding" companies deemed TBTF, without approval from anyone.

Video: Greenpeace Leader Admits Arctic Ice Exaggeration Also consider this: Himalayan Glaciers Not Melting The IPCC won the Nobel Prize in 2007 for saying the Himalayan glaciers were going to melt.

Rolling Stone: Obama's Big Sellout: The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

People shiver, birds drop dead in San Francisco

Hoax and Change: Climategate Evidence .. not Hacked, Inside Whistleblower

Obama Mortgage program only helps 31,000 borrowers so far

Bush closing the gap with Obama (50% to 44%)

S&P 500 Overvalued by 100 Percent: Estimated Price-Earnings Inflation Adjusted Ratio does not Reflect Actual Earnings. VIX now Back to August 2007 Levels. Bank of America P/E Ratio over 500? The 676 low of March, as disastrous as it may have felt, actually reflected a more accurate measure of earnings potential of the 500 S&P companies. The S&P 500 is a good index because it measures 500 companies with a current collective market cap of $9.6 trillion.

UK’s richest man could make more than £1bn from carbon trading scheme Lakshmi Mittal, CEO and major shareholder of the steel giant ArcelorMittal, could make over £1 billion between now and 2012 from his company’s participation in the EU’s Emissions Trading Scheme.

UN may curtail 400-year-old 'freedom of the seas'

Ambrose Evans-Pritchard Bond jitters as Japan launches yet another stimulus plan The spending blitz will lift debt issuance to a record $835bn this year

Video: Norman Finkelstein on the Cost of Opposing Israel An outspoken critic of the exploitation of the Holocaust, we ask what is the price of free speech?

Video: Jesse Ventura’s new TV show Conspiracy Theory looked at 9/11 last night He does not take 911 head on but he is getting 911 Truth into the mainstream.

Berkeley City Council: Coat Hangers to Dems Who Voted Against Federal Funded Abortions Obamacare Debate Heating Up.

Obama rights record questioned Human Rights Watch and Amnesty International gave U.S. President Barack Obama mixed reviews on his human rights record

The Arabs Have Stopped Applauding Obama 'He talks too much," a Saudi academic in Jeddah, who had once been smitten with Barack Obama, recently observed to me of America's 44th president. He has wearied of Mr. Obama and now does not bother with the Obama oratory.

Officials: Blackwater Participated in CIA ‘Snatch and Grab’ Operations

For feds, more get 6-figure salaries. Average pay $30,000 over private sector Federal employees making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession's first 18 months — and that's before overtime pay and bonuses are counted.

UK Police say nursery aged children should be monitored for signs of brainwashing and extremism.

International Monetary Fund Withholds $3.5 Billion Loan to Ukraine Why? Yushchenko’s decision last month to enact wage and pension increases of about 20 percent -

Household Net Worth: A $2.1 Trillion Downward Revision In One Quarter the government has been chronically overrepresenting Household Net Worth

Yield Curve Steepest Since 1980; Hard Times Ahead in 2010 The bond market is starting to show signs of concern over budget deficits and the corresponding supply of treasuries. Treasuries fell, with the gap in yields between 2- and 30-year securities reaching the widest margin since at least 1980, after a $13 billion offering of 30- year bonds drew lower-than-forecast demand.

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