Run, don’t walk, to read Zero Hedge’s take on the next subprime trade (and implosion).
The BLS’s chart of the year-over-year change in average hourly earnings looks dour.
This is the fifth consecutive month in a row in which job growth was less than population growth.
In September, nonfarm payrolls rose 103,00, but I am reminded by Boenning & Scattergood's Rick Farr that population growth is averaging about 200,000 a month. So the increase last month is half of what is needed in order to lower the unemployment rate.
Germany thinks it should be a last resort, while France wants what’s good for France now.
Eurozone will meltdown in two to three weeks so will the European banking system if eurozone leaders don’t address crisis in a credible way.... We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world -- the largest banks in Germany, the largest banks in France -- that will spread to the United Kingdom; it will spread everywhere because the global financial system is so interconnected.
-- Robert Shapiro, IMF Advisor
