Bracing For The Number

Will it be Recovery Summer or Summer Bummer for Obama? Anything that moves him closer to the door is a win for America.

Economists surveyed by MarketWatch forecast the U.S. gained a net 100,000 jobs last month, compared to 69,000 in May and 77,000 in April. Unemployment is expected to remain at 8.2%.

SUMMER BUMMER:

The U.S. economy created just 80,000 jobs in June and the unemployment rate held steady at 8.2 percent, reflecting continued slow growth in the economy with the presidential election just four months away.

...

May's weak initial 69,000 report was revised upward to 77,000, which made the June number essentially flat.

 

 

 

 

Comments

[Jane - Get off the couch your country needs you!]

80,000.

bad bad bad.

[NK]

80,000 this month, adjusted 77,000 in May= 155,000 in 2 months. That is 1/2 the rate needed to keep up with population. Just dreadful. If the labor market had the same number of people as in Bush's last year in office, unemployment would be over 11%. Just dreadful. 'Bam killed the labor market, now the voters will end 'Bam's presidency. Fair enough.

[Melinda Romanoff]

Not bad enough for the Fed to act, but still better than Bush, according to Austan.

[Janet]

Here is a nice little post on just the insanity of big government. Endless rules, regulations, stupid ideas,...all paid for by YOU.

"To me that's the real shame of Roberts' decision. Even if if the Republicans get control of the House, Senate and Presidency and cut-off funding to these damn groups some of them will dodge the bullet and continue to grind away in whatever corner that they've drifted off to. That's the problem with big government, these countless people fidgeting with their cell phones in meetings while they come up with half-baked ideas to answer problems posed by memos that came from who knows where."

[dublindave]

We're screwed!

[Captain Hate]

Soooo how is sooper genius ValJar gonna spin this? Wear more age and cankle inappropriately short dresses to make the entire country too sick to work?

[Melinda Romanoff]

CH-

There's a video of that, if you want to search, it's at RCP.

[narciso]

Really, Gilligan, when was that, after 5 trillion dollars, of 'investment'

[NK]

MelR-- Austan Goolsbee? In seeing him interviewed back in 2009-2010(not Legacy media, but longer stuff on C-Span type TV) he seems like a nice enough guy, not a typical Axelplouffe -ValJar thug. But he is sooooo wrong about everything. Everything, labor markets, macroeconomic growth, finance markets, market psychology -- you know-- everything important.

[Melinda Romanoff]

The softer, more comfortable side of Mussolini?

Yes, that was him.

[Thomas Collins]

What's everyone so bummed out about? There will be plenty of job opportunities at the IRS and HHS as they implement the ObamaCareTaxPenaltySharedResponsibilityPayments plus DeathPanels plus Let'sPaytheDrugCompaniesNottoInnovate plus Let'sForcetheCatholicChurchtoFacilitatetheContraception State. See LUN (via Instapundit).

[GMAX]

So good to see that Double Douche agrees with me and the blowout is coming. Yes indeed the Democrats are royally and truly screwed. We have a breakthrough for the double douche. I would credit the Stelazyn.

[NK]

According to WS-- even Lib-Dem bootlicker John Harwood (CNBC, ex- WSJ) says this is bad for 'Bam and bad for the country. That maybe the first time Harwood is right about anything. BTW, why is DD concerned about the payroll report? he's never had a job in his life.

[narciso]

Well it's par for the course:

http://dailycaller.com/2012/07/05/obama-rewrites-history-claims-he-had-less-cash-than-2004-rival

[Melinda Romanoff]

narciso-

And it's why they're lying about their cash levels now. So easier to swamp you later, my dear. Add up the PACs and iBama's still mopping it up.

[steve]

It's Bush's fault.

[NK]

MelR-- money won't matter this year. All Indies hear when a 'Bam commercial comes on is the Wah, Wah, Wah sound of the Charlie Brown adults.

[Thomas Collins]

Meanwhile, George W. Bush continues his efforts to promote health care and development in Africa. See LUN.

Even brain addled progs must acknowledge that the US POTUS who has done the most for black Africa is the predecessor of the first African American POTUS.

[Thomas Collins]

From the LUN at my 9:17 AM post.

"While Bush's presidency is mired in controversy in the U.S., in Zambia and much of Africa, he is remembered for saving lives."

Hey progs. How does it feel to know your guy Obama is a sham while the guy you reviled is helping the people you claim to care about.

[Melinda Romanoff]

TC-

Quit busting a meme!

[narciso]

Think Regress was all over this, of course they were the first to ridicule McCain and
had they been around at the time, Dole.

http://dailycaller.com/2012/07/05/thedcs-political-roundup-joe-walsh-mouths-off-again/

[dublindave]

Time for another round of quantitative easing.

[Thomas Collins]

I'll stop for now, Mel. Well, just one more before I stop. Hey progs. Name me one UN bureaucrat with their gazillion dollar WorldTaxonBillionairestoHelpthePoor schemes who has put more effort into helping black Africa than George W. Bush.

See LUN for the UN tax proposal. Or perhaps, in a nod to Obama, we should call it the WorldSharedResponsibilityPayment proposal!

[NK]

Jerry-- I'm very satisfied with Mitt being the ABO that wins in 2012;

TC-- I wish GWB was as good a conservative POTUS as he was a military CINC and is as a good Christian and a man. GWB turned his life around at age 40 (from aimless, drink too much rich boy to very good man) and has never looked back. If he had the courage of conservative convictions in the budget and small gov't, he would have been a great POTUS.

[NK]

QE?-- nah gas and food prices are high enough for working people-- how about you get a job instead... and put down the bottle!

[Melinda Romanoff]

Already doing the twist, jeanyus.

[NK]

The Twist? Meh-- it doesn't do anything good, but it isn't particularly harmful. Not nearly as pernicious as ZIRP, or destructive to US living standards as QE.

[dublindave]

But, on the minus side, He never was a "Community Organizer"

Have you ever heard of a community organizer with a series of secret bank accounts all over the world?

That's the stuff of embezzlers and swindlers.

[Melinda Romanoff]

NK-

Could be worse. Could be like the Danish NIRP.

[dublindave]

My source tells me that another QE IS on the way so that should privde us with some cover past November.

They've holding off on taking action so they could do a pre-election boost.

Nice.

[Captain Hate]

Austan Goolsbee? In seeing him interviewed back in 2009-2010(not Legacy media, but longer stuff on C-Span type TV) he seems like a nice enough guy, not a typical Axelplouffe -ValJar thug.

He's a smarmy little maggot whom I wouldn't trust as far as I could swat him. His "worse under Bush" spiel will have zero traction with people that reluctantly bought into the JEF's 2008 campaign garbage.

[dublindave]

sorry...they've been holding off...

[Melinda Romanoff]

Hahahahaha.

That source must be, shhhhhh, a newspaper!

Don't tell anyone!

[dublindave]

Meanwhile, George W. Bush continues his efforts to promote health care and development in Africa. See LUN.

Even brain addled progs must acknowledge that the US POTUS who has done the most for black Africa is the predecessor of the first African American POTUS

Well sure,after allowing thousands of blacks to die after Katrina he's gotta do something to salvage his legacy.

[Another Bob]

NK: Just wait until NIRP comes...

[Thomas Collins]

I give GWB some slack for the big guv aspects of his Presidency, NK, because he had to deal with the jihadists and with so many Dems and RINOs in Congress. But I must acknowledge that neither GWB nor his dad was schooled enough in the classical liberal economics theories that Reagan understood so well.

[NK]

DD@9:35 -- seriously? you want to bring up ethics when your boy Barry is a walking political crime wave? Rezko real estate deals, Ayers ghost writing and foundation Dollar deals, Senate Seat sales, 2008 contribution website security disabling, STIMULUS payoffs to cronies,perjurious AGs, lies about his entire life at Columbia, HLS, Rev Wright's church, live birth slaughter and on and on and on. Fine... that's actually a conersation the Indy voters should hear.

[narciso]

Pethikouris, pointed out, that they are still using the '40 grams of chocolate grams' standard, not indicating the labor participation rate

[narciso]

Well you know what I meant;

https://twitter.com/JimPethokoukis

[Thomas Collins]

Oh, dublindave, you caught me. Those Louisiana Dems were soooooooo on top of the Katrina situation, but it was GWB that screwed up. As usual, your careful scholarly approach to history is appreciated.

And of course, GWB's AIDS initiatives were started in anticipation of how GWB would abandon the Katrina victims. Crafty guy, that GWB. Thank Gaia we have you here as the ProgMemeProtector!

[NK]

MelR/Bob--- NIRP? It must have been in 2002, in the days of 'jobless recovery', 'liquidity trap' when I heard Greenspan testify that theoretically CB interest rates could go below zero. I thought he was joking to make a point.... and here we are.

[Jim Ryan]

New definition of recession, please:

"recovery" =df "GDP has grown for two consecutive quarters at a rate sufficient to enable the GDP to catch up to the size it would have been (had there been no recession) within two years (in other words, at a rate sufficient to get it back on track within two years.)"

The "two years" could be scaled by the severity of the recession (three years for a bad one, one year for a slight one, etc.)

On this definition, there has been no recovery.

[rse]

I left a message to henry on the previous thread.

Also a rant about Coke pushing sustainability, all 6 initiatives, and bragging about its agreement with GreenPeace for the last 10 years.

I may have to stick with tap water from now on.

Well I am sure those employment numbers will improve as the full recognition of the Obamacare hits small business counseling and the seminar circuit.

Hunker down is always good for ending unemployment.

[dublindave]

And of course, GWB's AIDS initiatives were started in anticipation of how GWB would abandon the Katrina victims. Crafty guy, that GWB. Thank Gaia we have you here as the ProgMemeProtector

Actually,it's ironically Jesse helms who deserves most of the credit for the work in Africa,but I take your point...good work is good regardless of ones motivations.

[NK]

Correction to my first comment above. If we had the same labor participation rate as the last year of Bush's presidency unemployment today would be 10.9%-- NOT above 11%, only 10.9%. Apologies.

[NK]

Katrina Bullshit-- the moral villans of Katrina were that moronic incompetent Mayor Nagin who failed to provide evacuation for NOLA residents and that bitch Blanco who did the Dems bidding by refusing the request to nationalize her La. National Guard and delayed rescue. They are to blame for hundreds of unnecessary deaths. The heroes were the Coasties and USN helo crews who used initiaive and improvision to save hundreds from death by drowning or exposure. There was a worse Katrina tidal surge in Miss, few died, there were worse hurricanes and Fla in 2004 and Texas since, virtually no one died. Katrina's unnececessary deaths were caused by incompetent and corrupt local politicians. The rest is Dem-Media bullshit.

[narciso]

It's funny how she never thought it that way, when Republicans were in charge, sarc;

http://www.bloomberg.com/news/2012-07-05/obama-to-hammer-romney-s-bain-record-on-campaign-bus-trip.html

[dublindave]

DD@9:35 -- seriously? you want to bring up ethics when your boy Barry is a walking political crime wave? Rezko real estate deals, Ayers ghost writing and foundation Dollar deals, Senate Seat sales, 2008 contribution website security disabling, STIMULUS payoffs to cronies,perjurious AGs, lies about his entire life at Columbia, HLS, Rev Wright's church, live birth slaughter and on and on and on. Fine... that's actually a conersation the Indy voters should hear

I always judge the veracity of a supposed scandal by how much of it sticks.I sit on my couch eating Doritos waiting for reporters to find something that'll implicate the person accused of wrong doing.If they find it, he's guilty, if they don't, he's innocent.

However,ironically,i'm depending upon a left leaning media that is so completely in the can for Obama,they're not going to dig around to find anything that could damage the President.

And that makes me happy which I guess also makes me corrupt.

[NK]

DD-- yes you are indeed corrupt. But I believe in confession, contrition and redemption my son. You have time to turn your life around. Now that you've confessed your corruption, engage in acts of contrition and pray for redemption. Pax tecum!

[dublindave]

Romney's speech in NH is killing it.Damn,it's really good.I wonder if they intentionally told him to deliver his critique of the Presidents handling of the economy like a eulogy.

Brillianlty done!!!

[narciso]

'those words you are using'

http://pjmedia.com/tatler/2012/07/05/obamas-shariah-czar-mohamed-magid-hands-diversity-award-to-jew-hater-dawud-walid/

[Jane - Get off the couch your country needs you!]

Katrina? Obama went on vacation while a million people didn't have electricity in his own neighborhood in a heat wave he caused. Not only did he not help, he didn't say a word. Give me a break!

[NK]

DD-- hmm-- not a good start on the contrition. It may be that you have to rely on the Almighty having a sense of humor about your corruption.

[Danube of Thought]

We must count our blessings. What other country is enjoying a third straight Summer of Recovery?

[dublindave]

DD-- yes you are indeed corrupt. But I believe in confession, contrition and redemption my son. You have time to turn your life around. Now that you've confessed your corruption, engage in acts of contrition and pray for redemption. Pax tecum

Nah,it's too late for me,i'm rotten to the core.

[DebinNC]

OH locals seem underwhelmed by The One. Glad to see the taxpayer purchased behemoth repeatedly called Obama's "campaign bus" since that's exactly what it is. Gotta love that Drudge coupled the pic of Obama by the bus about to take his Romney the Outsourcer lie on the road with a reminder that the bus was built in Canada.

[Thomas Collins]

Dublindave, you can't score a 100 on the corruption index, because you acknowledge the bias of establishment media. To reach 100, you'll have to write a book extolling the virtues of Soledad O'Brien. I'll expect an autographed copy when the book is published.

[henry]

rse, got your message. It appears that WI just got a waiver from Duncan which the state schools guy and the head of Milwaukee public schools like... not a good sign.

[NK]

DoT-- actually there is a blessing to this jobs disaster. The whole Lib-Left Bullshit economics-- student loan debt is good, government spending is 'investment', STIMULUS!-- has been exposed as complete nonsense. Prog economics is over for a generation -- bury it. Cut government pending, freeze debt, eliminate guaranteed benefit government pensions (401-k them like the rest of us), fix the Tax Code, END TBTF banks, and growth will come back. Basically, ignore everything "Keynesians" have said the past 4 years,

[matt]

don't know if you noticed that the President had a case filed with the WTO against China regarding large automobiles and SUV's.

If one has spent any time in China at all, one realizes the pointlessness of these vehicles.

Once more, appearing to do something takes precedence over actually doing something. But he made a speech about it so it's all good.

The man is the most political worm I have ever seen.

[NK]

Wait a second.. maybe DD was serious: here's a quote from Romney this morning-- "It doesn't have to be this way" he went on, saying exactly the right things: Cutting out the exemptions and deductions and loopholes that are unfair in many cases. In other cases we will limit the deductions so that we maintain our revenue through growth and limning of special deals and bringing tax rates down so they are competitive and attractive for jobs to come back to America."

He continued: "It means having a government that sees its role as encouraging enterprise rather than crushing it with a burden of new and unnecessary regulation and without regulations that haven't been cleaned up in years and years, and having a health care plan that focuses on bringing down the cost and not adding new expenses and new taxes to the American people. "

[WriteWing]

"Obama created more jobs than Bush." Of course because everyone who wanted a job had one under Bush.

[GMAX]

So isnt it time for the incompetent one to trot out another chorus of that old favorite " Recovery Summer". Seems like this is our third recovery summer in a row.

This incompetent could not run a corner lemonaid stand to break even.

But he is going to have to go get a real job in 4 months so there is that. Its not easy making Jimmy Carter look competent, ya gotta work hard at it.

[Janet]

from rse's post on the previous thread -
"The Coke Enterprises Pres spoke at a luncheon bragging about their sustainability initiatives. For those of you who are angry about the WWF affiliation, he mentions that they have had an agreement with Green Peace now for 10 years."

Our companies are into selling propaganda rather than products now. Coke & radical environmental crap, Kraft & gay pride, General Mills & gay marriage,...
Our news & entertainment & our schools are filled with leftist propaganda....now our products are too!
The utility business can't keep power going, but they use manpower & resources to push "green" propaganda.
Why would a food company be involved with this PC nonsense at all?

[Jane - Get off the couch your country needs you!]

I posted this in the wrong thread.

Obama is reading this month's "the economy is really great speech" and before I muted the sound he said something I've heard him say repeatedly: "there are 2 ways to look at the economy". Romney really should capitalize on this line:

Yeah there are two ways to look at the economy - either our best days are over, or our best days have just begun.

There are two ways to look at the economy: you either kill jobs or you create a situation for job creation.

etc

[jimmyk]

What is Goolsbee's claim based on anyway? He must be choosing his endpoints very creatively, because if you just look at payroll employment Jan '01-Jan '09 verus Jan '09-Jun '12, you get about 1.1M job growth under Bush, versus -473K under the JEF.

[GMAX]

"The private economy is doing great, its the public economy that needs some help."

Things idiot incompetents say.

[Danube of Thought]

"Prog economics is over for a generation -- bury it."

Wish I could agree, but the utter and repeated failure of the central-planning model never affects the progs' enthusiasm for it. (See, e.g., France.) Every time it fails anew, they think it's only because they didn't do it quite right. "Let's try again, only this time we'll put the really good guys in charge!"

[GMAX]

Goolsbee is the guy who told the Canadians with a wink, he does not mean it, its just a campaign speech, you know to get elected and stuff.

[GMAX]

So Zero is riffing off the Two Americas speech of John fing Edwards? You know the John Edwards with the 20,000 SF house who cheats on his wife dieing of cancer. I guess he would rather be compared to Edwards than Carter, except I just compared him to both and non too favorably either. LOL

[Danube of Thought]

Minus 17 at Raz today.

Trails Romney by 2.

[NK]

DoT-- I agree the progs and statists will never give up their big-gov creed-- It's what they are. BUT-- 2 things-- they've run out of OPM and votes. No elected officers, no tax increase, NO power for progs for a generation.

[rse]

Janet-he mentions all they are doing to make the London Olympics the greenest ever. They simply manage an image franchise and being green now is a huge part of that image.

I think Appalled is right. Certain affiliations came with those 96 Olympic games and became entrenched. The utilities here seem to be off the deep end too and then they become the face for ed reform advocacy.

Plus the Hope scholarship has skewed everything because the colleges and universities have expanded to capture all the lottery money. I think I have mentioned that English profs are being told to give credit for twittering. Whatever it takes to keep revenue coming in with student.

henry-I have analyzed other state waivers and know what is coming in that way. A lot of it pulls in the SEL programs I have been writing about via School Climate provisions that can be explicit or just part of the A-F grading criteria.

I am going back to that again later today because the Australian pathways to student wellbeing I got my hands on gives us an end game to look at for all the SEL/Positive Psych/ Bullying/ Changing values programs.

I have to first deliver my youngest to making costumes for a dance/voice recital.

The post from the 4th in the LUN talking the World Happiness Report was teeing up for the kind of caring economics all this is envisioning for the future.

Won't work. So on top of Obamacare we get to be guinea pigs for the effects of cultural transformation theory. Its chief proponent is such an idealogue but few people reading her proposals would have the backgrounds to recognize what's not true in her descriptions.

[Captain Hate]

Why would a food company be involved with this PC nonsense at all?

Lots of large companies were infiltrated with PC mavens who bought into every feelgood fad of the day and the cottage industries that sprung up around them. The larger the company the worse it was, at least in my experiences. It was as counter productive as Sarbanes Oxley compliance.

[rse]

DOT-in case you are boycotting my fun and games narratives as unduly stressful for someone in rehab, the fundamental idea is to use education to changes values and attitudes and cultivate feelings that will change human nature. So this time it will work.

In fact what I read the other day laid out why the tech companies are so on board. It will just take the kind of data on everyone and massive computing power to manage all aspects of life to ensure sustainability.

And there's a history prof in your neck of the woods, David Christian who has Gates' ear, who says that it would have worked but Russia and China were too agrarian. That it will work if imposed on industrialized societies.

[pagar]

"Our news & entertainment & our schools are filled with leftist propaganda"

and conservative blogs.

[Captain Hate]

And there's a history prof in your neck of the woods, David Christian who has Gates' ear, who says that it would have worked but Russia and China were too agrarian. That it will work if imposed on industrialized societies.

You'd think after 100 million deaths they'd stop making excuses for an obviously flawed system.

[GMAX]

Zero spokesman:

“It is important not to read too much into any one monthly report,”

OK but how about 41 monthly reports in a row? Recovery Summer my @ss...

[GMAX]

after 100 million deaths

Its a two fer for progs. If it werent for those awful humans Gaia would not be having these problems right now...

[Ranger]

New bumpersticker proposals:

"Net Spending Cuts"
Obama Lied, Jobs Died

"Your taxes will not go up, not one dime!"
Obama Lied, Jobs Died

[pagar]

The Obama regime attacking:

http://www.redstate.com/brian_d/2012/07/06/health-savings-accounts-under-attack/?asid=55476181

More Obama regime attacks on American health care.

[Danube of Thought]

Fascinating piece at Volokh by Randy Barnett re the Roberts opinion. LUN

[Voldemort Delenda Est ! Sandy Daze]

The Bush family has had a long, constructive and caring history with the African continent. (nb: I´m not sure there is much that can be done in Africa, in many respects, the result of any efforts there are seemingly and sadly akin to the result when one pulls one´s hand out of a bucket of water. Yet, we must do something, for if we do not try, we know exactly what the answer will be.)
Columnist Jonah Goldberg wrote several -- to me at least -- important articles on Africa in early 2000:
-- A Continent Bleeds
-- Goldberg´s African Invasion

Those articles echoed in my thoughts when in 2002, I had the opportunity to participate in an international peace-monitoring effort in the Nuba Mountains.

The Black Muslims were slaughtering the Black Christians and Animists and every other religious cat. In America, alarmed Black Protestant preachers working with the Cong Black Caucus, in a very non-traditional agreement with the W administration sought American action to end the slaughter. Retired Sen John Danforth was dispatched and brokered a cease-fire, the monitoring effort I participated in (the Joint Military Commission Nuba Mountains) was the result. We were successful in our efforts.

Bet you never heard of this effort. Shame of the the Blacks in Congress for never acknowledging W´s efforts to make cease-fire happen.
Not. One. Word.

Sudan was a world apart from any experience I had ever had, and remains still to this day.

While there I learned that there had been a famine during 40´s leadership. 40 dispatched his VP to assess the situation. GHWB promised US aid in the form of seed and tools and agriculture advisers as needed. The Sudanese were so grateful that they called the fields of wheat which were grown from the seed, fields of ¨Reagan"and named their sons, ¨Bush¨ as in Bush al-Humadi.
True. All true.

Bet you never heard about that either. . .

I am disgusted to the very core, I cannot feel greater contempt and anger toward these carp-artists parading around like they are the chosen ones.

They are nothing but the dirt on the soles of my shoes.

May they all go straight to Hell and rot.

[Melinda Romanoff]

Interesting piece of research out that says the whole yield curve is going to go negative.

[LouP]

"Economists surveyed..." Who are all these economists? Where did they come from? Who is paying them? I think we have an overabundance of economists, most of whom, apparently, couldn't predict the sun's rising and setting.

[NK]

The 'whole yield curve' meaning negative 10 year rates? Is there a link?

[matt]

there are thousands upon thousands of sociology, environmental studies, statistics, marketing, and other graduates all sitting in conference rooms across America as we speak concocting up ever increasing quantities of bullshit to justify their existences.

P&G, Kraft, Coca Cola, General Foods and others now have massive departments with hordes of consultants focused on gender neutral, Amy has two daddies, "Green" (Green is what they say it means)focus group tested products that offer ever larger and more eye grabbing packaging with ever smaller and more synthetic content.

This is what substitutes itself for style, substance, and quality in the modern American consumer landscape.

[Ranger]

June jobs swoon: America’s labor market depression continues

A good post, with the obligatory comparison chart to the promises of Porkulus. But I think the focus is wrong in looking at what was promised with the "stimulus." Rather than looking at the 5.6% unemployment projection with Porkulus, I think we should be pointing out that without doing anything, the unemployment rate was project to be down to 6% right now, rather than at 8.2% (or 10.9% at the old labor participation rate). That 2.2% difference (between 6% and 8.2%) is the Obama Jobs Deficite created by Porkulus and ObamaTaxCare.

[Dave (in MA)]

Breitbart.com says that CNN's Don Lemon's reaction to hearing the jobs report was, "Oh, my God. Whoa."

Not quite as good as the CNN classic "Chicago is out".

[Porchlight]

The Sudanese were so grateful that they called the fields of wheat which were grown from the seed, fields of ¨Reagan"and named their sons, ¨Bush¨ as in Bush al-Humadi.
True. All true.

Sandy Daze,

Many more African babies have been named after George W. Bush than were or ever will be named after Barack H. Obama.

I am working on a new bumper sticker design:

What Would Norman Borlaug Do?

All part of the vast library of things liberals don't know and don't want to know...

[LouP]

Matt @12:06: I think you hit the nail on the head. Instead of people actually producing useful, tangible goods and services, we're over many years produced an economy, culture and society based on experts' theories and predictions. Anything, it seems, that doesn't involve honest work, productivity, and accountability.

[Melinda Romanoff]

NK-

It's a UBS research missive. Sorry, no linkie, and they're including the 30yr.

[NK]

Pethokoukis has been a regular Greek Oracle these last 4 years. His analysis of what Obamanomics would do was spot on. Since the earliest days of 2009, he predicted labor participation would drop, aggregate jobs would stagnate, the Dollar would drop and debt would skyrocket. Hopefully his last predicition never comes to pass- the Bond Market Vigilantes come after the US sovereign debt and long-term rates skyrocket. Hopefully 'Bam is out and Ryan budget reforms put in place and spending cut before the Vigilantes are through with Europe and maybe even China local gov't bonds before they go after US taxpayers.

[Melinda Romanoff]

Last one won't happen for a loooooong while.

[NK]

MelR-- thanks-- UBS Stamford Ct's own. I'll check it out and ask the local fixed income types about it this weekend. Negative rates? what does that do to spreads for you finserv guys?

[NK]

MelR@12:24-- from your finserv lips to God's ear. If growth stays flat and long-term Treasuries went to 'normal' 6%? I'm speechless....

[Melinda Romanoff]

No.

Negative Interest Rate Policy.

NIRP.

[Danube of Thought]

What does it mean that the "whole yield curve goes negative," and what is the significance of such an event?

[NK]

The Euro is tanking (below $1.23), the Dollar is stable-- does that mean no Fed QE3-- at least until after the election?

[Melinda Romanoff]

Investors are more willing to overpay for the safety of US Treasuries than receive any return over the life of the investment, thus turning the yield on the security, negative.

The ultimate fear trade. A "just return my money when it's over" type of trade.