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Two Reasons Why You Shouldn't Bank On A Private Sector Jobs Rebound Clemens Kownatzki Jun. 5, 2010, 8:16 AM The US employment report was the most anticipated economic info for the week. Non-farm payrolls rose by 431,000 in May, lower than the consensus forecast for a 540,000 rise, but at least the unemployment rate fell to 9.7%. As the Bureau of Labor Statistics reports: Total nonfarm payroll employment grew by 431,000 in May, reflecting the hiring of 411,000 temporary employees to work on Census 2010, the U.S. Bureau of Labor Statistics reported today. Private-sector employment changed little (+41,000). Manufacturing, temporary...

The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A 'Virtual Certainty' Vincent Fernando, CFA May 27, 2010, 3:18 AM The stock of U.S. money as measured by 'M3' money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. This 9.6% annualized contraction is unprecedented in the post-Depression era, and shows how, in this sense, America isn't printing more money. There are actually less dollars in the system since U.S. money supply is crashing, even well into the recent economic recovery. The positive take on this is that we...

Consumer Confidence Way Higher Than Expected Vincent Fernando, CFA May 25, 2010, 10:00 AM Consumer confidence came in at 63.3 vs. 58.3 expected. Conference Board: The Conference Board Consumer Confidence Index® increased in May, its third consecutive monthly gain. The Index now stands at 63.3 (1985=100), up from 57.7 in April. The Present Situation Index increased to 30.2 from 28.2. The Expectations Index improved to 85.3 from 77.4 last month. Says Lynn Franco, Director of The Conference Board Consumer Research Center: "Consumer confidence posted its third consecutive monthly gain, and although still weak by historical levels, appears to be gaining...

Eurozone Crisis At Point Of Maximum Danger, Great Depression II? Economics / Euro-Zone May 19, 2010 - 08:10 AM By: Mike Whitney Debt woes in Greece have sent bond yields soaring and increased the prospect of sovereign default. A restructuring of Greek debt will deal a blow to lenders in Germany and France that are insufficiently capitalized to manage the losses. Finance ministers, EU heads-of-state and the European Central Bank (ECB) have responded forcefully to try to avert another banking meltdown that could plunge the world back into recession. They have created a nearly-$1 trillion European Stabilization Fund (ESF) to...

Stocks End Down Hard AGAIN: Here's What You Need To Know Joe Weisenthal May. 19, 2010, 4:00 PM At one point today, markets were off nearly 2%, so the action was not horrible for bulls. Perhaps the bleeding is stopped momentarily.. But first, the scoreboard: Dow: -66.65 S&P: -5.8 NASDAQ: -18.9 And now, the key stories: * For the moment, markets have stopped freaking out about Europe and Germany's boneheaded move to go after short-sellers. The euro has staged an impressive rally. The euro is now nearly at $1.24, which seems high, but remember, $1.25 was thought to be unthinkably...

Europe Closes And Selling Gets Worse: Dow Falls 160, NASDAQ Down 1.8% Joe Weisenthal May. 19, 2010, 11:38 AM The bulls staged another run and briefly managed to get the Dow down just 50, but they can't sustain it. What's going on? You know the drill: EURO EURO EURO EURO EURO EURO EURO, GERMANY, EURO. All pretty straightforward stuff. Meanwhile, European markets fell hard, lead to the downside by France's CAC-40. One interesting stock to watch: Goldman Sachs (GS) had been higher throughout the morning, but is now slightly in the red.[snip]

This Chart Is Proof That Richard Russell's Crash Prediction Will Come True Joe Weisenthal May. 18, 2010, 1:26 PM Earlier we brought you the latest alarming comments from noted Dow Theorist Richard Russell, who is advising people to sell everything they can, ahead of a radical change in America. You think that's hyperbolic and ridiculous? Well consider this, from a reader, who writes: I've been watching the charts and listening to Bob Prechter and we are in a wave C down cycle that will be very swift and steep. Now are you convinced?[snip]

Selling In Stocks And Euro Intensifies, As Rumors Of German Government Short-Selling Ban Spreads Joe Weisenthal May. 18, 2010, 1:16 PM Update: the government has confirmed a naked short selling bond in certain securities. The euro has fallen below $1.23. Original post: There are headlines coming out of Germany that the government may institute a short-selling ban. Earlier, ZeroHedge cited a Reuters article saying that a short-selling ban would apply to stocks and bonds. But according to ForexLive, the report indicates that it's a naked short-selling ban. There's also chatter that Merkel may push for a transaction tax at the...

Martin Armstrong: The "Flash Crash" Was A WATERFALL Event Like The One That Preceded The Fall Of Rome Joe Weisenthal May. 18, 2010, 10:07 AM The famous market philosopher Martin Armstrong, who is currently in prison in Ft. Dix New Jersey, has turned his attention to the "Flash Crash" of May 6, which he sees as a profound event. He describes the event as a waterfall -- the opposite of a blowoff bubble top -- that presages the start of a profound shift in the world economy. He calls the "fat finger" or glitch theories nonsense, saying it's all about...

Dow Theorist: Sell Everything Liquid, You Won't Recognize America By The End Of The Year Joe Weisenthal May. 18, 2010, 8:57 AM Image: US Army WHOA! Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today's note: Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country....

Stock Market Historic Crash, A Warning Shot Across Our Collective Bow Stock-Markets / Financial Crash May 17, 2010 - 11:41 AM By: Captain Hook That’s the way you should view yesterday’s historic crash, witnessing the largest single day point swings in history. You should view it as a warning shot across your bow, because most market participants will stay in the stock market until it’s too late. Then, when the real panic starts, a lasting panic with no recovery like yesterday, they will freeze like deer in the headlights, and it will be all over but the crying as stocks...