October job loss numbers were another dose of reality, and they included the revision of August figures as well. That brings the total to 15.9 metric asstons (15.6 imperial asstons) of negative payroll space. Fortunately, Richard DeKaser, chief economist for National City Corp. in Cleveland has been on-hand to walk us through the numbers. To wit:
“This is going to increase the urgency for another stimulus package to staunch the slide.”
Everything from confidence to the renewed sink in oil and natural gas seem to have some connection to the jobs data today. Pretty dramatic. About half of the jobs lost in the United States year to date have been in the last three months.
Now, put about a 30-60 day lag before the first mortgage payments become a challenge for these new additions to “the list.” Then, add another 90-120 days before defaults actually look like defaults. That might be a time period to pay attention.
Job losses soar, jobless rate at 14-year high [Reuters]
First!! You cant stop it!
Celebrate good Obama, come on! It’s Obama-obamaaaa!
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We are nothing but hosed with this Obama clown… no bueno
What’s the asston-shitton conversion factor?
I write about this every day..
For instance my article titled “A flaw in our economists theories” that I wrote this morning describes this cycle.
We can stop this downward spiral and all we have to do is bring our jobs home.
Free trade between nations is good and necessary for the world.
To shift capital from democratic nations to nations that don’t share our beliefs is madness.
Virgil
http://www.KeepAmericaAtWork.com
Are there any more mortgage companies left to tank? I asked my Congressman about not paying my mortgage. He said he would talk with the gatekeeper, Barney Frank. Let’s keep the printing presses running!! Who makes those machines anyway?
Obama = welfare country
Obama is rippin off robin hood’s idea..i wouldnt be suprised if hes taking that money and lining his own pockets…as Kanye west said…he aint nothin but a gold digger…
@4 he went to better schools, is taller, better looking than you, and just got voted President of the US.
wtf have you done with your life to call this man a clown?
Also, EP, you forgot to mention that you’ve got to add another 30-60 days in for “adjustment in tenor of bad debt allowance” and other such trickery on behalf of the banks, etc
@9, right on. Because pedigree and appearance count for so much in America. I wanted this to be sarcasm, but alas it’s true.
@11
You sound like a short, ugly state university graduate.
@11 i hate to be the one to break it to you…if you didn’t know this about America (and the world, for that matter) until now, then @12 is right.
sorry, man
… add the credit card defaults…
. . . add more job losses as financial companies merge to survive . . .
Wait, so we aren’t forming a bottom right now?
DJN: *DJ Lockhart: Fed Could Consider Benchmark Rate Of 0%
DJN: *DJ Lockhart: 0.3% US Contraction Means 99.7% Is At ‘Full Speed’
You cant make this shit up…
DJN: *DJ Fed’s Lockhart: Dissolution Of SEC ‘Highly Unlikely’
Does that mean next weeks headline will be? Bush Administration dissolves SEC…
Just wait till q2 ’09 when the consumer credit abs blow the f’ up. Anyone know if/how Best Buy plans to get funding for their “12 years no interest financing” deals they’ll be pitching to get people to buy something (anything!?) this holiday season?
@9, for starters, had a real job. haha
Just more unpatriotic negativity from liberals who hate America, and the troops.
@20 doesn’t that make you the clown?
if, according to your (very) simple commentary, you’ve HAD a job, and you’re still a nobody, and BO has not had a real job and he’s the Prez…you follow?
you, member of the proletariat, are a true clown.
@9 He must be good looking. His wife’s a real catch, provided you’re into that whole amazon, over-bite, orge thing.
@22 What does that make you? The proletariat vanguard? Run along, wouldn’t want you to miss the banana boat to Cuba.