Unemployment jumps, Spain rallies

Stacy Summary:  Maybe Spain is performing so well because everyone is a contrarian these days?

41 comments on “Unemployment jumps, Spain rallies
  1. david says:

    The spin here in Ireland re: job losses is that although the unemployment rate is still rising it’s doing so at a slower rate! well I suppose we’re not called thick micks without reason.

  2. TroyOunce says:

    September 11th is coming up: a great day to bury bad news!

  3. Danny says:

    @david

    If I hear “we need to remain at the heart of Europe” one more time some civil servant is gonna get a belt of a hurley.
    As if we have any actual power in Europe… I want no part of it.

    Heard a great interview with Rick Rozoff w/ Michel Chossudovsky on the global research podcast regarding Nato expandtion and US cooperation. Y’all should check it out

  4. Danny says:

    NATO air strike in northern Afghanistan kills scores of civilians.
    http://www.voanews.com/english/2009-09-04-voa7.cfm
    The issue was over a hijacked fuel truck from which free fuel was being distributed to civilians. Obama’s “surge” war is a disaster.

    Netanyahu continuing expansion of settlements.
    http://www.reuters.com/article/worldNews/idUSTRE5831E120090904
    Not a whimper from Obama – perhaps because he has a Zionist operative named Dennis Ross as his Middle East adviser. Good ol’ AIPAC and Rob Emanual

  5. sharon says:

    @david………..does it still look like Ireland will vote ‘yes’ in October?

  6. Phil says:

    @Silver & China
    Thanks to InvestorEngineer@IV-AMD board

    China-silver get the connection???

    http://www.gold-eagle.com/editorials_04/morgan100804.html

    .
    .
    CHINA’S SECRET SILVER SOLUTION

    … “In this report we analyze the impact of newly industrialized China on the world’s silver markets. Pressure from China’s compressed industrial revolution – along with that from worried citizens turning to silver as a store of wealth – could soon trigger explosive price hikes in the silver market. Could the solution to the looming precious metals’ crisis lie in China’s own back yard? The first of several reports featuring China and silver.”….

    http://www.gold-eagle.com/editorials_04/morgan111804.html

    FWIW

  7. sharon says:

    Apologies if this has already been posted (I’ve been away):-
    Chinese refusing to honour western derivatives.

    http://www.reuters.com/article/rbssF…dChannel=11604

    Quote:
    BEIJING, Aug 31 (Reuters) – A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.

    The State-owned Assets Supervision and Administration Commission, the regulator and nominal shareholder for state-owned enterprises (SOEs), told six foreign banks that SOEs reserved the right to default on contracts, Caijing magazine quoted an unnamed industry source as saying in an article published on Saturday.

    While the details of the report could not be confirmed, it was Monday’s hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.

  8. Danny says:

    @sharon

    Irish Times Poll

    Yes 46 (-8)
    No 29 (+1)
    DK 25 (+7)

  9. Phil says:

    @Danny .. appalling !

    Do you suppose they (the Irish who read the Irish Times ) see themselves being rescued if they’re nice and say “yes” ?
    ;-)

  10. sharon says:

    @Danny…………..shit!

  11. david says:

    @Sharon, it’s hard to say, the politicians and media are trying to instill as much fear as possible, and the reality is people are losing there jobs left, right, and centre. On the other hand the more power taken out of the hands of Irish politicians the better, I’d be quite happy to hand complete control of the country over to the Krauts & Frogs.

  12. max keiser says:

    Zontar: the think from space now at 7% funded on piratemyfilm.com

    …i’m going to have to put the paypal thing in soon

    ..got some good new projects from the alex jones interview

  13. max keiser says:

    some of you might be interested in this written in one of my pen names Sabine LeCoq

    http://sabinelecoq.wordpress.com/

  14. david says:

    @Danny, off topic but I really fucking hate RTE’s Aine Lawlor, a triumph of stupidity and arrogance, I listen to her in the mornings she’s guaranteed to get me out of bed roaring at the bleedin’ radio.

  15. Phil says:

    @max keiser … Sabine LeCoq

    Nice piece !

    Max… was that for sharon by any chance !
    ( after the small disagreement the two of you had )
    ;-)

    …. ” Let’s face it, the reason we’re not more concerned about the wholesale theft of our humanity and the destruction of the environment by corporations is that their success at depriving us of the oxygen of good sense via market and media manipulation has left us all hoping for a peaceful, kind, Dr. Death to take the pain away and make it all go away for us nice nice. ” …

  16. Davem says:

    I’ve made a short satirical graphic novel around last week’s story about Mandelson’s new Internet piracy law and his Greek holiday. Have posted it onto the forum, please have a look:

    http://api.ning.com/files/sTs24*PX1t*PzkpAqqa9kTJL6FGknCbs2JP2d7CNLTK7ig7GhCNKwYIzISxCH782UXA7x2vuPRy5mciZ*61xU20a7Bv*Os3k/funboat.pdf

  17. Davem says:

    Sorry – the url got all screwed up. Try this:

    http://tiny.cc/fsDNh

  18. Clean Slate says:

    Karl Denninger’s righteous indignation is a breath of fresh air against the fetid B.S. of CNBC.

    See the video Kneale Abuse here:
    http://market-ticker.org/archives/1406-Kneale-Abuse.html

  19. problemis says:

    Well Max, not to change the subject but your theory on Casino/Prison Amerika gets a little confirmation from Ilargi over at The Automatic Earth:

    “We are about to see a huge increase in the issuance of state bonds and other forms of borrowing. Kicking all your cans down all the roads that you can find. Many states are in the process of opening some kind of gambling den or another.”

    http://theautomaticearth.blogspot.com/2009/09/september-4-2009-states-of-shock.html

  20. Justin says:

    is there anyway to watch The Keiser Report online?

  21. problemis says:

    Okay, as for US unemployment or How to Succeed at Under Reporting Without Really Trying”…

    As for marginally attached by U3:

    1.If you run out of unemployment benefits, you are marginally attached. You are no longer counted as unemployed by U3.

    Are you any less unemployed?

    2. If you are unemployed and there are no jobs in your occupation to apply for in your area, you are marginally attached and therefore not unemployed by U3.

    Examples: Construction workers. In imploded bubble markets there is virtually no construction work. But construction workers often travel out of area or out of state looking for work. By this definition they are not unemployed by U3.

    These questions are asked in the 60k monthly survey done by BLS as a factor in determining U3.

    Are they any less unemployed?

    We won’t even get into the highly flawed birth/death ratio model that adds jobs from the small business market that supposedly were missed by other methods of BLS data. Bush used it to add a record 1.7 million phantom jobs to the 2007 totals. Obama is on pace to top that in 2009. In a typical month any where from 90k to 1.3 million job losses are subtracted from the totals because of supposed job creation in small businesses that could not be found in any hard data…

    Why doesn’t the BLS use IRS payroll data streaming in monthly? Hard data? A good, often asked question by statisticians that goes unanswered…

    Like all of the above methods, what a great way to under report job losses or over report job creation for political gain…

    The American public is so math deficient they could not understand a graph, statistic or ratio if you hit them in the head with it.

    Give’m a beer, a reality show, a donut, a ball game and the idiot Matt Lauer on the.. what else idiot box, the dumbing down method of choice… and everything is fine in Amerika…

    Did I mention that on average Amerikans read at the 4th grade level… and you thought Bush’s illiteracy was a fluke?

  22. Danny says:

    I had long reply (read spiel) for @david @phil @ sharon but somehow I’ve lost it all. How utterly annoying. I refuse to re-type it.

    AND NOW FOR SOMETHING COMPLETELY DIFFERENT…

    I see gold has kept strong today – I thought the boys on wall street were gonna do a number on it today. JIm Willies article left me giggling with excitment last night. Anyone got €7,000 for me to get into the perth mint programme? na, anyone, na?? ok..

  23. Dante says:

    @ Max…that was good..
    “double-dealing bankers – that the world’s hedge funds, an independent lobby of locusts who strip assets from society’s bone faster than pariahs in the Amazon can strip the skin off your arm, had amassed a huge ’short’ position in GM’s stock (they were betting the stock price was going to go down), and there was easy money to be made ’squeezing’ these shorts by using Kirk’s gargantuan buying power (amassed buying and selling MGM several times during the previous decades) to force these short-sellers to buy stock – the result being – instant profits for Kirk. No skill. No risk. Just insider information and a will to destroy markets. Corporate euthanasia.”

    I always wondered how those debt issuance-dividend pay(offs) out deals ever got done—since you worked for a brokerage firm–maybe you could shed some light on how an investor/banker ( in right mind) could fund/buy into a leveraged debt deal whose proceeds would go straight to stockholders as dividend payment…I mean its completely moronic from the debt holders viewpoint….same thing happens with debt issuance to buy back stock..theres a point where it will implode..what rational group of investors would go along with this? Even in bankruptcy these assets are usually done at such elevated levels that creditors end up with very little in the end…yet managers do them over and over again.

  24. frances snoot says:

    @Problemis:
    Thanks for the amazing link.

  25. Youri Carma says:

    WTF! Anybody on the AJS?

    Sep 2, 2009 at 8:01 pm I wrote to frances snoot: “Something is going on feld it in my gut. Maybe new virus release on 09/09/09 but I am not sure. My forces are not that strong unfortunately.”

    Leonard Horowitz says that they maybe round that time will release a new virus!

    All remote viewers out their, view and get the message out. Will try myself but my forces are not that great.

  26. Youri Carma says:

    Unemployment Charts http://tinyurl.com/lk9rb3

  27. Youri Carma says:

    Real Unemployment Rate Hits (Tyler Durden – Zero Hedge) 16.8% http://tinyurl.com/n5urdp

  28. Mike/Liverpool says:

    USA “Thanks ” Canada for its help in Afganistan
    http://www.liveleak.com/view?i=2ff_1237821753
    Mike

  29. david says:

    @Davem, good work.

  30. david says:

    @Danny, I tried to access the pirate bay it’s being blocked by Eircom (goes to show what I know I had thought they would just pay lip service), I’m now in the process of changing telephone companies.

  31. Stephen says:

    Revenge came when Kerkorian took a bath with Ford.

    KK maybe a big player, but there are bigger fish. Many of these sharks have felt the tug…Steve Wynn, Donald Trump, Carl Ican and even Warren Buffett.

  32. Phil says:

    Euro Intelligence : Macroprudential illusions

    … ” It is true enough that the big banks of the world did not understand the risks they were incurring. The only person on Wall Street of whom we can say with confidence that he knew exactly what he was doing is Bernard Madoff. If we truly believed that the other great names of banking fully understood the system in which they were operating, we would think of them as ‘criminal’ too (even if not legally liable). Given these circumstances, it is a rather natural impulse to conclude that these people need to be watched so that we get warned in good time before they get themselves — and all of us – into trouble again. ” …

    http://www.eurointelligence.com/article.581+M5a1930101e5.0.html

  33. Phil says:

    Dear YouTube: This Video Does NOT Contain “Inappropriate Content”

    http://www.youtube.com/watch?v=wuXmmeicIXY&feature=sub

  34. 13BlackCats says:

    @Mike
    When you’re a comedian and you hear a Canadian Army general say, “The Canadian Army is taking a year off”, the yoga jokes write themselves…but seriously though; is it not pathetic that we have to consider pulling out just so we can recuperate? Indeed we are the ones that allowed our military to degrade as far as it has.

    This is an old clip but the thing that infuriated Canadians that care about their servicemen and women the most was the smug hypocrisy of the idiots who were complaining about this the loudest. They’re the same people who will take any opportunity to tell insulting jokes about Americans. They’re the same clowns who would gladly vote for a cut to the Canadian Forces so that they can plant more trees in downtown Toronto or fund a needle exchange program in Regina. Yet they have the nerve to bitch and complain when some Fox talking-head make a joke at our expense?

    And that the Canadian government got involved in this “international row” at the time, I posted this elsewhere:

    In a country that hauls comedians before human rights tribunals for insulting hecklers, how could I expect its government not to demand apologies from comedians in others?

  35. norcalkid says:

    John Williams at shadowstats.com has the real US unemployment rate at around 21%. I have a feeling his figures are closer to reality.

  36. frances snoot says:

    @Sharon:
    The link you set is not working (Chinese derivatives contract walk-a-way) Here’s the link now:
    http://blogs.reuters.com/financial-regulatory-forum/2009/08/31/banks-uneasy-over-report-china-state-companies-assert-right-to-default-on-derivatives-trades/
    Thanks, started me reading on it.

  37. Chris says:

    MAX wrote:

    “some of you might be interested in this written in one of my pen names Sabine LeCoq
    http://sabinelecoq.wordpress.com/

    Thanks, good article. You said pariahs in the Amazon instead of piranhas. Heh.

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