Posts Tagged ‘American worker’

Foreclosures Continue To Dramatically Increase In 2010

Foreclosures Continue To Dramatically Increase In 2010

Courtesy of Michael Snyder at The Economic Collapse 

In a very alarming sign for the U.S. economy, foreclosures have continued to dramatically increase in 2010.  But there has been a shift.  Back in 2007 and 2008, experts tell us that most foreclosures were due to toxic mortgages.  People were being suckered into mortgages that they couldn’t afford with "teaser rates" or with payments that would dramatically escalate after a few years, and when those mortgages reset, the people who had agreed to them no longer could make the payments.  But now RealtyTrac says that unemployment has become the major reason for foreclosures.  Millions of Americans have become chronically unemployed during the economic downturn and many of them are losing their homes as a result.  But whatever the cause, one thing is certain – foreclosures have continued to skyrocket at a staggering rate.

According to a new report from RealtyTrac, foreclosure filings climbed in 75% of the nation’s metro areas during the first half of 2010.  At a time when the Obama administration believes that we are "turning the corner", things just seem to get even worse. 

Some areas of the country continue to be complete and total disaster areas when it comes to real estate.  For example, you have got to feel really sorry for anyone trying to sell a house down in Florida right now.  According to RealtyTrac, Florida led the way with nine of the top 20 metro foreclosure rates in the country during the first half of 2010.

Ouch.

But the worst city for foreclosures continues to be Las Vegas.…
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An Anthropologist on What’s Wrong with Wall Street

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An Anthropologist on What’s Wrong with Wall Street

Courtesy of TIME, by Barbara Kiviat. 

Anthropologist on What's Wrong with Wall St.In 1996, Karen Ho got a job on Wall Street. The student of anthropology, who would later go on to get her Ph.D., was fascinated by how even in the midst of an economic boom, corporate downsizings were rampant — and how each time a company announced a major layoff, its stock rallied. What she found from her perch at Bankers Trust — and later in interviews with people at firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, Goldman Sachs, JPMorgan, Salomon Brothers, Kidder Peabody and Lazard — was that it wasn’t just an ideological commitment to boosting shareholder value that drove decisions to merge, break up and restructure companies, but also the work culture of Wall Street itself. Ho, now a professor at the University of Minnesota, talked with Barbara Kiviat about her findings, presented in Liquidated: An Ethnography of Wall Street, and how she thinks the recent financial collapse has — or hasn’t — changed things.

What do you mean when you say the American worker has become liquid?
I mean that there’s constant job insecurity, constant downsizing, constant restructuring, a constant need to retrain to have an adaptable skill set and be flexible. In a sense, job security and stability have been liquidated.

And that comes from Wall Street?
What I found in my research was that in many ways investment bankers and how they approach work became a model for how work should be conducted. Wall Street shapes not just the stock market but also the very nature of employment and what kinds of workers are valued. These firms sit at the nexus — they are the financial advisers and sources of expertise to major U.S. corporations and institutional investors — and from this highly empowered middle-man role, what they say has a lot of influence. The model that came to be dominant in the 1980s was one of constant change. The idea is that there’s a lot of dead wood out there and people should be constantly moving, in lockstep with the market. If a company isn’t constantly restructuring and changing, then it’s stagnant and inefficient, a big lumbering brick.

And you think that attitude follows from the way Wall Street works?
What a lot…
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ValueWalk

Coronavirus stimulus check: Tell IRS if you didn't get the payment yet

By Aman Jain. Originally published at ValueWalk.

We are now in the final week when a decision on the next coronavirus stimulus package is expected. However, many still haven’t received their first stimulus check. The IRS has said that it would continue to send payments through the end of the year. Yet, if you meet the eligibility requirements and haven’t gotten the coronavirus stimulus check, you should let the IRS know.

Q2 2020 hedge fund letters, conferences and more

When to contact IRS for coronavirus stimulus check

The IRS has already send the majority of the payments. Though the agency would be sending ...



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Zero Hedge

Do Investors Know They Are Skiing In An Avalanche Zone?

Courtesy of ZeroHedge View original post here.

Authored by Erik Lytikainen via RealInvestmentAdvice.com,

2020 has been quite a year for the stock and options markets. We have witnessed a gut-wrenching roller coaster ride from highs to lows and back to highs. The volumes of both stock and options trading have ballooned as discount brokers offer zero commission trading.

...



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Kimble Charting Solutions

Here's How To Buy The Top Stocks In The Hottest Sectors During The Covid Crisis

Courtesy of Chris Kimble

Tech has been the place to be during the Covid-19 crisis. Investors Business Daily recently highlighted how one can own the strongest of the strong by just owning one ETF (See article here).

This chart looks at the Dorsey Wright Focus Five index ETF (FV), which reflects that it is attempting a bullish breakout while creating higher lows over the past 6-years.

The $2.1 billion fund tracks the Dorsey Wright Focus Five Index, which provides access to five First Trust sector and industry ETFs. Dorsey Wright & Associates selects the funds based on relative price momentum, then weights the compone...



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Phil's Favorites

Video: Who controls pandemic data?

 

Video: Who controls pandemic data?

Public data is vital to the functioning of a democracy. Witthaya Prasongsin / Getty Images

Courtesy of Julia Lane, New York University

Editor’s note: When the Trump administration ordered hospitals to report COVID-19 data to the Department of Health and Human Services rather than the Centers for Disease Control and Pre...



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Biotech/COVID-19

Video: Who controls pandemic data?

 

Video: Who controls pandemic data?

Public data is vital to the functioning of a democracy. Witthaya Prasongsin / Getty Images

Courtesy of Julia Lane, New York University

Editor’s note: When the Trump administration ordered hospitals to report COVID-19 data to the Department of Health and Human Services rather than the Centers for Disease Control and Pre...



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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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The Technical Traders

ARE THE MARKETS ABOUT TO TURN?

Courtesy of Technical Traders

Deborah Honig from Adelaide Capital asks Chris the question on everyone’s mind – where are the markets heading? Where is the ‘big money’, the early movers in the market, going? Chris and Deborah also look at the technicals for Gold and Silver and discuss whether Gold and Silver are starting a big run-up now, or should we wait before taking positions?

Learn more about our latest research and alerts on Gold, Silver, Oil, and Equities at www.TheTechnicalTraders.com.

...

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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Chart School

US Dollar Cycle Review

Courtesy of Read the Ticker

If investors can correctly forecast the US Dollar then their portfolio will be standing on better ground.

Jesse Livermore said investors must familiarise themselves with all matters of the market. The sine wave cycle below shows regular tops and bottoms and if the investor ignores this repeating phenomena it could be at their peril. If you decide to do so, you best have a good technical or fundamental reason.

The sine wave cycle below was found with readtheticker.com 'Cycle Finder Spectrum' use of 'Bartels' logic. Yes it is mathematics, but within the site RTT Plus service we also examine the dollar fundamentals  (like: inflation, money s...

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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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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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