Posts Tagged ‘unemployed lawyers’

75% Of Law Schools Need to Close?

Maybe colleges should offer pre-law reality courses. First, teach about how expensive the law degree really is. Second, show movies comparing and contrasting the fun of law school with the stress and tedium of legal work, and third, create charts and tables displaying the employment statistics for outcomes awaiting law school graduates. – Ilene

75% Of Law Schools Need to Close?

Courtesy of Jr. Deputy Accountant 

Somehow I stumbled into the world of jaded law school students – either current or former – and it isn’t pretty. At least with accounting you A) don’t have this cockfight over who went to the better school B) as much student loan debt and C) a better chance at a job even if it does mean you have to compromise your integrity a tad along the way. Wha?! 

Someone employed in accounting (not to rub it in) should verify these numbers and confirm that they’re f*^ked up. Please.

Higher education. Pffft:

If the law schools are producing 45,000 new JDs annually and our nation only needs 19,000 or 16,245 new attorneys to replace the 1/40 that retire, then 57.8% or 63.9% of the law schools need to close, assuming that they all produce the same number of new JDs each year.

So, now we finally have a number to use--60%. As in, "Cut the number of law school seats by 60%." Or, "We need to close 60% of the law schools." However, since our nation already has a huge backlog of unemployed and underemployed-involuntarily-out-of-field attorneys, it would be better to cut the number of law schools by 75%.

The kids in Berkeley have been quiet about getting their fees jacked up since November of 2009 so I guess they figured out how to pay for it. I’ve dealt with some of them and no offense to UCB but they have some serious work to do for what they’re charging these kids. The least they can do is let them out knowing how to properly use the word your. 

Close ‘em. Open a f*^king book and don’t "pay" $65,000 a year to be told to open the wrong ones. 

The education factory has failed. See also Low Loan Repayment Is Seen at For-Profit Schools via the NYT:

At some for-profit colleges, the repayment rates were startlingly low. For example, 33 of the 86 Corinthian Colleges’


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Zero Hedge

Yield Purchasing Power: $100M Today Matches $100K in 1979

Courtesy of ZeroHedge. View original post here.

Submitted by Gold Standard Institute.

by Keith Weiner

I wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to challenge the notion of calculating a real interest rate by subtracting inflation. The idea is that the decline of a currency can be measured by the rate of price increases. This price-centric view leads to the concept of purchasing power—the amount of stuff that a dollar can buy. It’s the flip side of prices. When prices rise, purchasing power falls.

Recall in the story, Clarence retired in 1979. At the time, inflation was running at 14% but he could only get 11% i...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Pimco Clients Pulled $2.5 Billion From Total Return Fund in July (Bloomberg)

Investors pulled $2.5 billion from Pacific Investment Management Co.s flagship fund in July, the 27th consecutive month of outflows from what used to be the worlds largest mutual fund.

Etsy is Crashing (Business Insider)

Etsy reported a quarterly loss on Tuesday evening, and the stock is getting crushed.

In after-hours trading, the stock fell by more than 11% after closing down 6% at $19.23 a share.

The online marketplace for craft m...



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ValueWalk

The Geopolitics Of The Syria's Civil War

By Guest Post. Originally published at ValueWalk.

Editor's Note: With the war in Syria showing no signs of abating, we republish our Jan. 21, 2014, weekly explaining the complex geopolitics of the conflict.

International diplomats will gather Jan. 22 in the Swiss town of Montreux to hammer out a settlement designed to end Syria's three-year civil war. The conference, however, will be far removed from the reality on the Syrian battleground. Only days before the conference was scheduled to begin, a controversy threatened to engulf the proceedings after the United Nations invited Iran to participate, and Syrian rebel representatives successfully pushed for the offer to be rescinded. The inability to agree upon even who would be attending the negotiations is an inauspicious sign for a diplomatic effort that was never likely to prove very fruitful.

There are good reasons for ...



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Phil's Favorites

Capital Controls Destroy Greek Small Businesses; Bank Shares Plunge Again; Record Contraction

Courtesy of Mish.

Record Manufacturing Contraction

Greece may as well have gone to hell in a handbasket. Carnage is everywhere one looks, but let's start with the Markit Greece PMI report that shows record manufacturing contraction.
July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials. The headline seasonally adjusted Markit Greece Manufacturing Purchasing Managers’ Index® registered 30.2, well below the neutral 50.0 mark and its lowest ever reading.

Record contractions were registered for almost all variables monitored by the survey, including output, new orders, employment and stocks. There was also a record lengthening in supplie...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Kimble Charting Solutions

Apple breaking short-term support as Nasdaq at 2000 highs

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

The left chart looks at the Nasdaq Composite index over the past 20-years.

Currently the index is back at the same price as it was back at the Dot Com highs. With the trend being up (above support and moving averages) the NAS, is attempting a “continuation of trend breakout” at this time. Should the index achieve a breakout above the 2000 levels, it would be viewed as a bullish continuation event.

The right chart looks at Apple over the past 5-years. For the past 6-months, Apple has struggled to get above the $133 level. From a very short-term perspective a short-term support line could be giving way, of a bearish r...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker.

Please review a collection of WWW browsing results.



Date Found: Friday, 03 July 2015, 07:15:03 PM

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Comment: Alasdair Macleod views on Greece and China. Excellent! youtu.be/62lucEzzZMk



Date Found: Tuesday, 07 July 2015, 02:39:22 PM

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Comment: POST GREECE 'NO' vote some bonds are being re priced for true risk. Massive ouch!



Date Found: Tuesday, 07 July 2015, 07:55:35 PM

Click for popup. Clear your browser cache ...



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OpTrader

Swing trading portfolio - week of August 3rd, 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

Sector Detector: Lackluster earnings reports put eager bulls back into waiting mode

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-ranked stocks from the top-ranked sectors.

Corporate earnings reports have been mixed at best, interspersed with the occasional spectacular report -- primarily from mega-caps like Google (GOOGL), Facebook (FB), or Amazon (AMZN). Some of the bul...



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Digital Currencies

Gold Spikes Back Above $1100, Bitcoin Jumps

Courtesy of ZeroHedge. View original post here.

Gold is jumping after the overnight double flash-crash...testing back towards $1100...

Bitcoin is back up to pre-"Greece is Fixed" levels...

Charts: Bloomberg and Bitcoinwisdom

...

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Pharmboy

Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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