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View Poll Results: What are the prospects for the future of the US economy?

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  • The US economy will rebound within 5 years

    36 47.37%
  • It stay in decline and alter our lives permanently

    21 27.63%
  • We don't have enough information, yet.

    19 25.00%
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Thread: The Economy Thread

  1. #902
    Barbarian Mater's Avatar
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    Sept. Jobs Report Confirms Weakening Labor Market


    http://youtu.be/aVp8fJaQS-M
    -Mater

  2. #903
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    Yup. that 4-letter word: J.O.B.S.

    Food service workers at a record high in US economy: Record percent of Americans now employed in food services as a share of total employment coupled with peak food stamp usage.




    One of biggest contributors to jobs over the last few years has come from the low-wagefood service sector. A record 7.6 percent of Americans now work in food services and drinking places. Given that we have 47+ million Americans on food stamps and this figure has boomed in the last decade, it should come as no surprise that as Abraham Maslow would have it, people are reverting to the basic necessities of life. Yet there is a larger story of our economic recovery. There was a McDonald’s hiring a cashier but looking for someone with a college degree. Welcome to the low wage recovery. A large part of America is simply trying to get by and this population is growing. Those that frequent financial sites on the net are probably a very small part of the overall population. So I know it comes as a surprise to some readers when they realize the per capita wage in the US is $26,000. I’m sure this record percent of Americans in the food services industry must come as a shock as well.Record employment in food servicesThe record figures regarding food service employment doesn’t surprise me. The growth has been steady for the last few decades:


    http://www.mybudget360.com/food-serv...omic-recovery/

  3. #904
    Behemoth sargent's Avatar
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    Not gloom and doom. Just want to keep this topic alive.

    U.S. Economic Outlook 2016

    Earnings and revenue growth for the S&P 500 companies have been contracting for months and this makes it crystal clear that the economy is in trouble.
    Going into 2016, I remain pessimistic about the U.S. economy. I see recessionary pressures building up. I see the stock market (a leading indicator) having spent all of 2015 putting in a major market top—thus telling us that’s it for the U.S. economy.
    http://www.profitconfidential.com/ec...r-the-economy/


  4. #905
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    Quote Originally Posted by ChromeHearts View Post
    Did georgeforemanrules also die ? I thought I saw something that said he did. I suppose a lot has changed since I have been around. California has been great
    Love it when losers quote my name. Took me over a year and a half to see this, have no idea if this loser even posts here anymore.

    CA has been great? LMOA.

    CA is a shit hole and it gets worse every year.

  5. #906
    Behemoth sargent's Avatar
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    Not gloom & doom but perhaps another cycle downward. According to to the textbook definition of 2 consecutive quarters of negative GDP grown defining a "recession," the majority of Americans have never recovered by the Great Recession that started in 2007.

    The retail dip may signal less consumer spending or perhaps it's the switch to online buying.

    Retail Sales in U.S. Decrease to End Weakest Year Since 2009

    http://www.bloomberg.com/news/articl...ear-since-2009

  6. #907
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    Quote Originally Posted by GeorgeForemanRules View Post
    Love it when losers quote my name. Took me over a year and a half to see this, have no idea if this loser even posts here anymore.

    CA has been great? LMOA.

    CA is a shit hole and it gets worse every year.
    Yeah, I have not seen Chrome here for a very long time (at least not in this section).

    My parents recently went to SoCal for holiday after not being there for decades and they it was "sad" and just not a good change from years ago. (I think we've all felt the same away about that.)

  7. #908
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    An update from Gerald. Oneo of them is "too big to Jail."


  8. #909
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    Schiff, Jan 26, 2016:


  9. #910
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    More "speculation" but things ain't great:


  10. #911

  11. #912
    Barbarian Mater's Avatar
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    U.S. hiring slows: Only 160,000 jobs added in April.


    the Obama admin today says higher labor costs and higher taxes on corporations is needed to help companies hire more people. WTF?

    explain that....
    -Mater

  12. #913
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    So tell us, Jim. Interview in May, 2016.


  13. #914
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    An update from Jim a week ago. Is Brexit a Black Swan.


  14. #915
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    Schiff on the current economic situation: employment, GDP, inventories, inflation, and more.


  15. #916
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    More from Schiff: Fed's printing more money, death of Obama care, the election and the world economy.


  16. #917
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    Jim Rogers on the dollar in 2017.

    Jim will you be right, or....well.....wrong.....


  17. #918
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    Quote Originally Posted by ChromeHearts View Post
    One other issue that has not been as pervasive but is alarming is MF Global. MF Global is a brokerage arm that engaged in risky trading, primarily European sovereign bonds. They have burned through all their credit lines and will probably declare bankruptcy on Monday unless they can sell the business. The CEO is New Jerseys prior Governer Jon Corzine.


    MF Global does not have any debt due in the short term. They are having a classic run on the company just like Lehman and Bear Stearns. Their funding has dried up and a few brokerages I talked to have stopped doing business with them. That's pretty much the death spiral at this point. The company is way too leveraged as well.

    Anyone stepping up and buying the company or even assets is stupid. It's best to let them go under then buy their assets for pennies on the dollar.
    Corzine in $5 million settlement with US CFTC over MF Global collapse

    http://www.reuters.com/article/us-mf...-idUSKBN14P251

    Jon Corzine, former New Jersey governor and Goldman Sachs (GS.N) co-chairman, will pay a $5 million civil fine to settle a U.S. regulator's lawsuit over the 2011 collapse of his commodity brokerage, MF Global Holdings Ltd.

    Thursday's accord with the U.S. Commodity Futures Trading Commission resolves the last piece of litigation against Corzine over MF Global's rapid descent into bankruptcy on Oct. 31, 2011, as an estimated $1.6 billion of customer money went missing.
    The agreement, which has been approved by a federal judge, bars Corzine from ever working for a futures commission merchant or registering with the CFTC. He also cannot ask insurers to cover the fine.

    "I am pleased to have reached this settlement," Corzine, who turned 70 on Jan. 1, said in a statement. "As the CEO of MF Global in 2011, I have accepted responsibility for its failure, and I deeply regret the impact it had on customers, employees, shareholders and others."


    Andrew Levander, Corzine's lawyer, noted that none of the criminal and civil probes into MF Global's demise led to charges that Corzine engaged in intentional misconduct or fraud.

    In a related settlement, Edith O'Brien, MF Global's former assistant treasurer, agreed to pay a $500,000 civil fine and accept an 18-month industry ban to resolve claims that she "aided and abetted" the misuse of customer funds.
    O'Brien's lawyer, Christopher Barber, declined to comment.

    The CFTC said MF Global improperly used nearly $1 billion of customer funds to shore up liquidity during the last week of October 2011, rather than keep the funds separate.

    This commingling occurred as margin calls, credit rating downgrades and Corzine's big wager on European sovereign debt left customers and investors increasingly worried about the New York-based company's survival.

    The CFTC said Corzine failed to properly supervise employees handling customer funds, while O'Brien authorized the illegal transfer of customer funds to MF Global accounts as the specter of bankruptcy loomed.

    Customers were fully repaid in 2014.

    Corzine and other former MF Global executives last year reached a $132 million settlement with a trustee liquidating the company on behalf of creditors.

    A year earlier, executives reached a $64.5 million settlement of separate investor litigation.
    Portions of the earlier payouts were covered by insurance.

    Corzine, a Democrat, is also a former U.S. senator, and now manages his own money.

    He said he plans to focus on "issues that have always been important in my life: my family, community and philanthropic causes, and markets."

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