Looming Chinese Financial crisis might make Lehman meltdown look like a hiccup

[$5 submissions]

Ever wonder why gold also sank when the Dow took a hit yesterday? Ever wonder why many of the top hedge funds and billionaire investors are pulling their money out of the market faster than Justin Beiber getting punked in prison? One key reason: a looming global financial crash. The EU is uncertain as its southern members can't seem to get their fiscal houses in order. In the US, the rumored 'recovery' seems more like a product of wishful thinking than actual business spending and consumer spending. In Japan, Abe's economic shenanigans have been labeled as nothing more than currency manipulation. In China, well... something is brewing that might finally collapse the global giant house of financial cards. See http://www.reuters.com/article/2013/...0EW0LE20130620

[Captain Kawaii]

Let the implosion begin. Japan will be fine btw. I'm off to farm country. Have a nice day.

P.s. Unemployment is again on the rise in the US.

[Rochard]

Originally Posted by Captain Kawaii

P.s. Unemployment is again on the rise in the US.

Seriously, where do some of you get your information? A simple Google search tells us it's been falling...

The Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at the end of 2013 from 7.6 percent now. It thinks the rate will be between 6.5 percent and 6.8 percent by the end of 2014, better than its previous projection of 6.7 percent to 7 percent.

http://www.usnews.com/news/business/...mployment-rate

[Captain Kawaii]

Originally Posted by Rochard

Seriously, where do some of you get your information? A simple Google search tells us it's been falling...



http://www.usnews.com/news/business/...mployment-rate

Figures released TODAY - 18,000 more people than last week applied for unemployment.
Figures are falling because people are not on unemployment and have given up looking, also in the news today. NPR.org

[Rochard]

Originally Posted by Captain Kawaii

Figures released TODAY - 18,000 more people than last week applied for unemployment.
Figures are falling because people are not on unemployment and have given up looking, also in the news today. NPR.org

All of my life we've tracked unemployment by the same figure. Always. Why in the past few years have some people suddenly starting saying "figures are falling because people have given up looking". Well, people stopped loooking 4, 8, 10, and 12 years ago, yet oddly we never discussed this.

I'm not republican, I'm not democrat. The unemployment rate is falling. Obviously - it's not that Obama is doing such a grand job, but more because unemployment rose to unheard of heights and will continue to come down so long as the President and Congress don't do anything stupid.

[Rochard]

And while we are playing with numbers, the highest unemployment rate we've ever had was 10.8% in November 1982.

[$5 submissions]

Look to China, guys. Don't say you didn't see it coming. Tons of empty housing in China = fake housing boom + opaque accounting + fake government statistics + increasingly skittish investors = KABOOM

See http://www.bbc.co.uk/news/magazine-19049254

[Captain Kawaii]

Originally Posted by Rochard

And while we are playing with numbers, the highest unemployment rate we've ever had was 10.8% in November 1982.

The numbers you are fed are fake. Not picking on you but they are fake. Unemployment is much higher than corporate news will admit. There is a much more accurate number, I forget its reference but it is often double the reported numbers.


I took a drive through west LA today. Lots of empty buildings and store fronts.

[Captain Kawaii]

Originally Posted by $5 submissions

Look to China, guys. Don't say you didn't see it coming. Tons of empty housing in China = fake housing boom + opaque accounting + fake government statistics + increasingly skittish investors = KABOOM

See http://www.bbc.co.uk/news/magazine-19049254

Shits about to hit the fan. That's why they've been trying to make the news of buying up half of central America...Note to Costa Rica and Ecuador, "Don't take a check and get it all up front."

[PhoneSexKing]

Welcome to globalization, people!

[Paul]

Originally Posted by Captain Kawaii

Shits about to hit the fan. That's why they've been trying to make the news of buying up half of central America...Note to Costa Rica and Ecuador, "Don't take a check and get it all up front."

In your opinion what's going to happen next? Global bank runs or an economic slow down that will pale into comparison to what we've had over the past 5 years? I've maintained we've been in a depression since 07/08, this mess is bigger than the 1930's one.

[teomaxxx]

Originally Posted by Rochard

All of my life we've tracked unemployment by the same figure. Always. Why in the past few years have some people suddenly starting saying "figures are falling because people have given up looking". Well, people stopped loooking 4, 8, 10, and 12 years ago, yet oddly we never discussed this.

the best chart to end this discussion, see labor force participation rate:
http://floatingpath.wpengine.netdna-...ce-650x433.png
the employment is rising, but nothing to write about.

[$5 submissions]

Originally Posted by Paul

In your opinion what's going to happen next? Global bank runs or an economic slow down that will pale into comparison to what we've had over the past 5 years? I've maintained we've been in a depression since 07/08, this mess is bigger than the 1930's one.

You mean to tell me all the thin veneer of 'recovery through bailouts' the central banks have been doing are all smoke and mirrors and that the 'real economy' is still flat on its back? How come the NSA hasn't rooted out this heresy!?

[Captain Kawaii]

Originally Posted by teomaxxx

the best chart to end this discussion, see labor force participation rate:
http://floatingpath.wpengine.netdna-...ce-650x433.png
the employment is rising, but nothing to write about.

Correct. tech jobs being replaced by McJobs not really a win for the workers or those of us who depend on people making questionable decisions with disposable income.

[Paul]

Originally Posted by $5 submissions

You mean to tell me all the thin veneer of 'recovery through bailouts' the central banks have been doing are all smoke and mirrors and that the 'real economy' is still flat on its back? How come the NSA hasn't rooted out this heresy!?

Strange how the markets start to tank when the FED announces plans to end the stimulus buying of bonds

[Captain Kawaii]

Originally Posted by Paul

In your opinion what's going to happen next? Global bank runs or an economic slow down that will pale into comparison to what we've had over the past 5 years? I've maintained we've been in a depression since 07/08, this mess is bigger than the 1930's one.

I am preparing for the worst and leaving the U.S. I cant really handle 3-5 more years of a malingering recovery. And that seems to be the bright side. When I think of the future of the US, the HBO show "Carnivale" comes to mind.

[_Richard_]

Originally Posted by Rochard

Seriously, where do some of you get your information? A simple Google search tells us it's been falling...



http://www.usnews.com/news/business/...mployment-rate

heard that they made fast food workers 'food manufacturers' as they are apart of the 'distribution process' of the food

and that has changed the employment rate etc

[Barry-xlovecam]

Unskilled labor is becoming more and more obsolete.

New manufacturing technology will replace cheap labor -- just a matter of time.

A lot of people with 20 century skill sets are not, or will not, be needed in the 21st cenutry. Problem is you can't just recycle people like scrap metals ...

[L-Pink]

Originally Posted by PhoneSexKing

Welcome to globalization, people!

.

[ajrocks]

the stock market is addicted to the stimulus that's been getting pumped into the market. It's created safe investments, now that its coming to an end people are going to cash out their profits and drive the market down.