Throwing rocks at the King's castle - zero hedge blog

[John Ranalletta]

This blog might be characterized as a guerilla movement for the financial world. It's taking on the big banks for their dark pools, frontrunning, and flashtrading makes a mockery of stock investing. It's irreverent and always thought provoking.

[Hermes]

I am no wizzard, but I am picking up a lot of bear scent.

Time to cash in on the recent gains?

 

[John Ranalletta]

Who knows? Doesn't matter to me - I don't buy stocks.

 

[Ken H.]

Time to cash in on the recent gains?

Yeah, no fake!

 

I love this one, "According to the BLS, the exhaustion rate, or the number of people who have used up their benefits, and will no longer be receiving unemployment checks, has hit an all time high of 52.40% for August."

 

Which when translated to the (widely reported) U3 unemployment number will likely come out as a good news drop in unemployment. When in actuality the more accurate (but hardly ever spoke about in the media) M6 number, that is the number of employable people who are unemployed, (regardless of their status of receiving or not receiving unemployment benefits) continues it’s un-relentless march toward 20%, currently at about 17.5% (in the US).

 

[John Ranalletta]

This guy knows..(IMO)

 

Personally, I'd worry more about my cash. Money market fund interest is at near zero; and, it seems Mr. Bernanke wants to "borrow" money from your money market fund collateralized by the crap the fed's holding. It hasn't started yet, but it probably will. Nothing's safe from the g-man.

Reuters - The U.S. Federal Reserve is studying the idea of borrowing from money market mutual funds as part of eventual steps to withdraw stimulus, the Financial Times reported on Thursday.

 

The Fed would borrow from the funds via reverse repurchase agreements involving some of the huge portfolio of mortgage-backed securities and U.S. Treasuries that it acquired as it fought the financial crisis, the newspaper reported, without citing any sources.

The government is in dire need of cash because it sees an end to its ability to borrow and monetize debt (the fed is hard put to buy any more treasuries as it has been doing).

 

 

[Pilgrim]

Time to cash in on the recent gains?

Yeah, no fake!

 

I love this one, "According to the BLS, the exhaustion rate, or the number of people who have used up their benefits, and will no longer be receiving unemployment checks, has hit an all time high of 52.40% for August."

 

Which when translated to the (widely reported) U3 unemployment number will likely come out as a good news drop in unemployment. When in actuality the more accurate (but hardly ever spoke about in the media) M6 number, that is the number of employable people who are unemployed, (regardless of their status of receiving or not receiving unemployment benefits) continues it’s un-relentless march toward 20%, currently at about 17.5% (in the US).

 

Interesting to see you cite that from Canada, Ken. It's a number that doesn't get much play down here, but it should.

 

I keep it up to date on the NAFBPO website since we believe it is one of the strongest arguments against a foreign guest worker program. With over 26 million people in this country looking for work there is no reason at all to recruit for unskilled and semi-skilled labor abroad, and probably not for skilled and professional, either.

 

Pilgrim