Saturday, June 2, 2012

Pimco's El-Erian Sees Synchronized Global Slowdown

Jun 1, 2012 by

Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Co., talks about the May U.S. jobs report, the outlook for global economies and central bank policies. Payrolls climbed by 69,000 last month, less than the most-pessimistic forecast in a Bloomberg News survey, Labor Department figures showed today in Washington. El-Erian speaks with Betty Liu and Dominic Chu on Bloomberg Television.

Brother JohnF - Silver Update 6/1/12 Flight to Safety

Jun 1, 2012 by

Inside Story - Will the eurozone collapse?

Jun 2, 2012 by
Mario Draghi, the head of the European Central Bank (ECB), has told European politicians that they should do a lot more to tackle the debt crisis. He says the current setup is unsustainable and has urged member states to take immediate action towards developing a clear vision for the next few year.

Extreme Sports - Pig Fishing

Gold price pops $80 on dismal US employment and QE3 expectations

Gold spot price spiked $80 overnight in New York trade off the back of dismal US employment data (after 10+ years of offshoring is there any other type?) which has raised expectations of Uncle Ben goosing the markets with a massive hot QE3 injection. 

Chart from

Massive US Nonfarm Payroll Miss In May Fuels Calls For More QE

Original source


Job growth in the U.S. took a huge hit in May, as the rise in nonfarm payrolls (NFP) plummeted for the third straight month. The U.S. Bureau of Labor Statistics (BLS) reported today that employers added 69,000 workers to their payrolls in May, massively missing the median forecast of 150,000 according to a Bloomberg News survey. April NFP figure was revised downwards to 77,000 from its original print of 115,000. Private payrolls rose by 82,000 in May, down from 87,000 in April, while manufacturing added 12,000 jobs compared to 9000 a month ago.

Meanwhile, the unemployment rate rose to 8.2 percent in May, following a dip to 8.1% in April. This reflects a change in the labor force participation rate, as a rise in May by 0.2 percent to 63.8 percent offset a decline of the same amount in April.

The huge miss in job growth adds to growing concerns of a struggling U.S. labor market and economy. This will put further pressure on the Federal Reserve to boost the U.S. economy with a further round of quantitative easing.

Clark & Dawe on QE3

SBSS 34. Everything Burns

May 31, 2012 by

Weekend Chillout - Bend it for Bilderberg

With the elites meeting in Virgina for Bilderberg 2012, plotting the coming conflicts, wars and the downfall of us all I thought some questioning was called for.

Tip: play in HD

Bilderberg 2012: Protesters vs New World Order

Jun 1, 2012 by

Around 150 of the world's elite approached the grounds of a suburban Virginia hotel on Thursday for the first day of the 2012 Bilderberg Conference, but also on hand were throngs of protesters who gathered to opposed the top-secret gathering. Journalists and critics of the annual clandestine conference stationed themselves outside of a Chantilly, Virginia Marriott hotel near Washington, DC early Thursday to catch a glimpse of the government officials, entrepreneurs and other assorted members of the privileged elite who had gathered for this year's event.

Spain fears as future of euro at risk

Jun 1, 2012 by

Spain saw its bond yields shoot up again after the country's economy minister said that the future of the euro would be determined in the next few weeks and would depend on the stability of Spain and Italy.

The interest rate on 10-year Spanish bonds stood rose 0.13 percentage points to 6.58 per cent in early trading on Friday. The rate was more than 5.4 percentage points higher than the equivalent German one, which is considered a safe haven for investors.

The Cash in Spain is Mainly on the Plane

Jun 1, 2012 by

Spaniards alarmed by the dire state of their banks are sending money abroad at the fastest rate since records began in 1990.

The Bank of Spain says 66.2 billion euros left the country in March.

By contrast, in the same month last year 5.4 billion euros came into the country.

Spaniards - worried about the health of their banks, hit by their exposure to a 2008 property crash - have been sending money to deposit accounts in stronger economies of northern Europe.

Spain's Economy Minister Luis de Guindos however said that reflects the banking sector's problems in finding external funding rather than deposits flying overseas.

De Guindos also said that the future of the euro would be at stake in the next few weeks in Spain and Italy, adding that the rumours that Spain was negotiating financial assistance with the International Monetary Fund were "complete nonsense."

"The battle of the euro is being fought right now in Spain and Italy," he said at an event in Sitges, in the north-eastern region of Catalonia.