Morgan Stanley and Slimebag Gorman Trying to move 2 Trillion dollar of Derivatives onto USA Taxpayers back
If you have some time….
San Diego and San Jose Lead Way in Pension Cuts
More signs voters have had it with run amuck government.
Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.67%
Obama Re-Election Map Shaken After Walker’s Wisconsin Win
People know the so called public servants tasering granny, children and pregnant women are no longer affordable or desirable. That is one socialist/commie state, or was. Big government at the Federal or State level just does not work. This guy is a world class jerk and thug which means so called liberal voters are sending Obama a message.
Initial Jobless Claims in U.S. Fell Last Week to 377,000
Three top Fed members say new action to help economy may be needed
Bernanke Sees Risks to Economy From Europe to U.S. Budget
Americans Cling to Jobs as U.S. Workforce Dynamism Fades
We have certainly moved” in the direction of Europe, with a less-dynamic labor market, Steven Davis, professor at the University of Chicago Booth School of Business, said in an email. He ticked off the similarities: “higher unemployment rates, longer unemployment spells, steep falls in the employment rate in the working-age population, a slower pace of worker flows, and a slower pace of job creation and destruction.”..
Fed’s Yellen Says More Easing May Be Warranted
Federal Reserve Vice Chairman Janet Yellen said “stalled” improvement in the labor market and weakening financial conditions may call for the central bank to boost its record monetary easing.
“Scope remains for the FOMC to provide further policy accommodation,” Yellen said in Boston yesterday. “It may well be appropriate to insure against adverse shocks that could push the economy into territory where a self-reinforcing downward spiral of economic weakness would be difficult to arrest.”
The policy-setting Federal Open Market Committee meets June 19-20 to consider further steps to aid the economy after employment growth in May cooled to the slowest pace in a year. Two regional Fed bank presidents who vote on policy, San Francisco’s John Williams and Atlanta’s Dennis Lockhart, said yesterday the central bank should be prepared to take action if the economy deteriorates. Fed Chairman Ben S. Bernanke is scheduled to testify on the economy in Congress today.
Yellen’s speech “is a prelude to the Fed clearly considering additional easing,” said Diane Swonk, chief economist in Chicago at Mesirow Financial Inc., which oversees about $61.7 billion in assets. “The Fed is keeping its powder dry, but is at least signaling that it’s willing to act.”
Yellen laid down three conditions for action: if the outlook entails “little or no improvement in the labor market over the next few years,” downside risks are “sufficiently great,” or the inflation rate threatens to drop “notably below” the Fed’s 2 percent goal. The personal consumption expenditures price index rose 1.8 percent for the 12 months through April…
U.S. Stocks Rise as China Cuts Rates to Boost Growth
U.S. stocks advanced, sending the Standard & Poor’s 500 Index higher for a fourth straight day, after China cut interest rates for the first time since 2008 to bolster growth in the world’s second-largest economy.
Stocks pared gains after Federal Reserve Chairman Ben S. Bernanke said the economy is at risk from Europe’s debt crisis and fiscal tightening, while not detailing steps the central bank might take to stoke growth. Alcoa Inc. (AA) and Caterpillar Inc. (CAT) advanced at least 1.5 percent. Bank of America Corp. (BAC) dropped 0.9 percent, reversing an earlier gain of 3.4 percent.
The S&P 500 rose 0.6 percent to 1,322.59 at 10:10 a.m. New York time, paring a gain of as much as 1.1 percent. The Dow Jones Industrial Average added 83.25 points, or 0.7 percent, to 12,498.04. Trading in S&P 500 companies was up 31 percent from the 30-day average at this time of day.
“Speculation about what policy makers may do as a follow up to what China has done is bolstering markets,” said Mike Ryan, the New York-based chief investment strategist at UBS Wealth Management Americas. “There’s a perception that if growth decelerates, if markets become stressed, that global policy makers stand ready with additional measures.”
Equities rose as China’s move fanned optimism about global policy action. Fed Vice Chairman Janet Yellen said the U.S. “remains vulnerable to setbacks” and may warrant additional stimulus. Chancellor Angela Merkel said Germany is ready to back the use of existing euro-area instruments to help stabilize the euro region.
Investors also watched economic data. Fewer Americans applied for unemployment insurance payments last week. First- time claims for jobless benefits fell to 377,000 from a revised 389,000 the prior week. The median estimate of 49 economists surveyed by Bloomberg News called for 378,000 claims.
The S&P 500 rose 2.9 percent in the previous three days, erasing the loss driven by a disappointing jobs report on June 1. Earlier this week, the index traded at 12.9 times reported earnings, according to data compiled by Bloomberg. That was the cheapest valuation in six months, the data showed. Concern about Europe’s debt crisis and a global slowdown took the S&P 500 down as much as 9.9 percent from this year’s peak.