Nope not the end of the world, just the beginning of world govt and a worldwide Tobin Tax

As well as your tax money poured into the IMF and national future funds for bailouts, since freedom and production will take a nose dive

Put that in your financial portfolio pipe qikvtec

Despite a slightly lower-than-expected 80K new jobs the unemployment rate declined from 9.1% to 9.0%.

The unemployment peak for the current cycle was 10.2% in October 2009. The chart here shows the pattern of unemployment, recessions and both the nominal and real (inflation-adjusted) price of the S&P Composite since 1948.

Unemployment is usually a lagging indicator that moves inversely with equity prices (top chart). Note the increasing peaks in unemployment in 1971, 1975 and 1982. The inverse pattern becomes clearer when viewed against real (inflation-adjusted) S&P Composite, with its successively lower bear market bottoms. The mirror relationship seems to be repeating itself with the current and previous bear markets.


The second chart shows the unemployment rate for the civilian population unemployed 27 weeks and over. The October number is 3.8% - down from last month's 4.1%. This measure gives an alternative perspective on the relative severity of economic conditions. As we readily see, this metric remains significantly higher than the peak in 1983, which came six months after the broader measure topped out at 10.8%.


The next chart is an overlay of the unemployment rate and the employment-population ratio. This is the ratio of the number of employed people to the total civilian population age 16 and over.


The July 2011 ratio was a modern low of 58.1% - a level not seen since the 58.1% ratio of March 1953

The employment-population ratio will be interesting to watch going forward. The first wave of Boomers will be a downward force on this ratio. The oldest of them were eligible for early retirement when the Great Recession began, and the Boomer transition to retirement will accelerate over the next several years.

What is the average length of unemployment? As the next chart illustrates, we are perhaps seeing a paradigm shift - the result of global outsourcing and efficiencies of technology. The post-recession duration of unemployment has continued to rise, although the October 39.4 is off last month's all-time high of 40.5. It had approached a level nearly double the peak in 1983 following the 1981-82 recession.


The last chart is one of my favorites from Bill McBride at Calculated Risk. It shows the job losses from the peak employment month since World War II. Note the addition of the dotted-line alternative for the current cycle, which shows unemployment excluding the temporary census hiring


Link -
http://seekingalpha.com/article/305336-only-80k-new-jobs-but-unemployment-rate-d...
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A few observations -
One thing that can be observed in a few of these charts, is that THIS TIME IS DIFFERENT, as I have mentioned to various people, from time to time.
That can be confirmed, by looking at -
1) The Real Unemployment, which would be at least 13%, if not for the context of the massive Baby Boomer retirements, which have been some 10,000 per day, since the beginning of this year, in the US.
2) The Unemployed, over 27 weeks, as a % of the Civilian workforce, which is now considerably higher than at any other time, since 1948.
3) The Employment to total Population ratio, is now hovering around a low of 58% and is set to go much lower in coming years, as Baby Boomers are set to exit the US workforce,  at an average of 10,000 per day, for some 2 decades.
Many, if not most, will be exiting in expectation of receiving long promised government pensions.
However, that may not happen, given that current & past governments have usurped much of what had been allocated to pay these Pensions and used it to pay for past Deficits!
4) The average Unemployment duration is now much longer and is in fact almost double previous Recessions.

Clearly, there is no Recovery under way, given these facts!

But with the Employment to total Population ratio, set to continue falling, due to Boomer retirements and Peak Oil impacting events, this must increase the strain on government deficits and increase the likelihood of a continuing decline in the Publics disposal income, all of which will contribute to a decline in Demand for many products and thus guarantee that there will be no Recovery in the USA.

With a similar criteria applying in Europe and both the US & Europe up to their eyeballs in Debt, neither can fund the usual Keynesian  solutions and the Austrian solution will only place greater strains, by ensuring Demand dives even lower.

The return of the financial tsunami, in the US & Europe, will also flow thru to all other Global Economies, as product Demand diminishes!

Is THIS TIME DIFFERENT?
YES, you bet it is!
OR, should I say, THEY bet and it is!      

‘Politicians can’t control Euro crisis’

As Greece awaits the formation of a new "unity" government, Arjo Klamer, chair of economics at Erasmus University in Rotterdam, told RT that even if the new coalition is formed, it is unlikely to make any difference.

“The big problem the Greek government has is to get its population behinds its plan. And it doesn’t seem that the people in Greece are willing to put up with all the measures that are being taken,” he explained.

The Greek PM must resign – that is the demand of the country’s opposition, if the political deadlock is to come to an end. The head of Greece's main opposition party said George Papandreou was "dangerous" and has called for early elections.

According to senior government officials, Papandreou could announce his resignation later on Sunday, hoping it will pave the way for the formation of a coalition government. Meanwhile Athens is fast running out of time to implement a crucial EU bailout plan intended to save the country from bankruptcy.

If George Papandreu resigns in the next few hours, this political solution will not do much good for the situation in Europe as a whole, believes Klamer.

“The Greek are rather disturbed, even though they say they want to hold on to the euro, they do not want to put up with the measures being imposed on them. The new government can create some sort of solution for some time, but the resistance is building up and then I see that the same thing is happening in Italy where they also have to take measures that the Italians are not willing to live with,” he stated. “I don’t think the politicians have the measures and instruments to control this crisis,” he added.

In order to get the bailout money Greek politicians have to push on with these measures which, Klamer maintains, are drastic.

“We call it a cold turkey approach. It means reducing salaries and government spending, causing a lot of hardship among the Greeks. That’s the price they have to pay for the euro. And whether the Greeks want to go along with it is doubtful. If it does not work, and all politicians understand that, then there will be serious consequences not just for the Greeks, but also for the banks which may go bankrupt if they Greeks themselves go bankrupt,” he pointed out.

Papandreu shocked EU leaders by announcing a referendum, resulting in the threat of being kicked out of the EU, but France and Germany still seem set on saving Greece. In fact, it is not Greece they want to save, but their own banks, explains Klamer.

“Greece is too small to care about, but it is a threat for the European economies because German and French banks are heavily involved in Greek debt, so they are really concerned and in this case they were so strict about it because they saw that the referendum would push the whole thing forward,” he concluded.

http://rt.com/news/greece-euro-crisis-coalition-665/

NEW YORK (TheStreet) -- Stocks recovered late in Tuesday's session after an influential European Central Bank member provided reassurances that the eurozone crisis will eventually be brought under control.

The Dow Jones Industrial Average gained 84 points, or 0.7%, to close at 12,067. The S&P 500 added 8 points, or 0.6%, to settle at 1261, while the Nasdaq increased 9 points, or 0.3%, to finish at 2695 amid light volumes.



For much of the day, stocks were lower on worries that political missteps in Europe's third-largest economy could drive Italy further into debt purgatory. The Dow was down more than 100 points at its lowest point of the session.

A vote on budget reforms in Italy Tuesday will effectively test the leadership of Prime Minister Silvio Berlusconi, who faces pressure to resign from office. The yield on 10-year Italian government debt has jumped since Friday, hitting a 14-year high of 6.67% on Monday and signaling heightened nervousness that political turmoil will prevent Italy from dealing with its debt problems.

"The question is whether Italy will be the next domino to fall," said Paul Nolte, director of investments with Dearborn Partners. "Equity markets are narrowing in on Italy's ability to work out a deal."

Meanwhile, the situation in Greece looked more stable after the country came to an agreement to accept an aid package from its European neighbors that will allow Greece to avoid default in the near term. News that Greek Prime Minister George Papandreou will resign, making way for an interim administration led by a former European Central Bank vice president, gave the markets some clarity about the country's future.

Earlier, London's FTSE lost 0.3% and Germany's DAX fell 0.7%. Japan's Nikkei Average finished down 0.4%, and Hong Kong's Hang Seng lost 0.8%.

In other corporate news, Jefferies Group(JEF_) gained 1% after announcing that the bank has reduced its holdings of European sovereign debt by about half since last week. Shares of Jefferies have faced pressure in recent days over concerns that the bank is dangerously exposed to Europe's debt crisis.

Gold for December delivery gained further with the weakness in the equities market, up $35 to settle at $1791.10 an ounce. In other commodities, the December crude oil contract rose $1.19 to trade at $95.45 a barrel.

http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU
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Itseems there may be a TIME WARP, we've gone straight past Christmas and

THIS IS APRIL 1ST?

It must be, all the conferences & EU leaders, couldn't come up with a solid plan to fix the EU problems, BUT an ECB council member says, "the eurozone crisis will be brought under control within two years" and the DOW goes UP by almost 200 points.

This clearly shows that share markets are either completely "irrational" OR the are being RIGGED!

Ex Dame Pansi wrote on Nov 8^th, 2011 at 9:55am:



Yup, it sure is a crazy world that we have allowed our forefathers to create for us!

Governments and whole nations beholden to the reckless gambling, exploiting and profiteering antics of the parasitic few who manipulate gravely-under-regulated global markets...

I shudder and cringe, every time I hear someone on the news carping on about the importance of 'calming markets' and 'returning to solid growth'...

Soren wrote on Nov 8^th, 2011 at 10:29am:


Unyet, the home of Capitalism (USA), is as bad, in fact worse than Europe & far worse than the likes of China, Norway & some OPEC countries.

Which begs a question!
Is it really just about Politicial philosophies OR are there other factors in play?

11,780.94  

Down 389.24 (3.20%)

http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU