Posted on 05/07/2010 11:26:55 AM PDT by NormsRevenge
LONDON – A strong set of U.S. jobs data Friday failed to shore up confidence in world markets as stocks plunged again amid mounting fears that Europe's debt crisis could spread and derail the global economic recovery.
In Britain, where investors were grappling with uncertain general election results, the FTSE 100 index slid 209.98 points, or 4 percent, at 5,051.01, while the pound oscillated wildly.
Germany's DAX slid 226.05 points, or 3.8 percent, to 5,682.21 while the CAC-40 in France was 112.56 points, or 3.2 percent, lower at 3,443.55.
And on Wall Street, the Dow Jones industrial average plunged 210.09 points, or 2 percent, to 10,310.23 soon after the open while the broader Standard & Poor's 500 index tumbled 26.30 points, or 2.3 percent, to 1,101.85.
There had been hopes that Wall Street would open higher after strong U.S. jobs data helped push other concerns, primarily centered on Europe's debt crisis, aside for a while.
(Excerpt) Read more at news.yahoo.com ...
Dizzy, I'm so Dizzy, my head is spinning Like a whirlpool, it never ends And it's you girl, making it spin you're making me Dizzy, my head is spinning Like a whirlpool, it never ends And it's you girl, making it spin you're making me Dizzy
The AP propoganda machine would have made Joseph and Vladimir proud.
Any system of pegging the unemployment rate that shows unemployment going up by 0.2% when there are 275,000 jobs added, causes me to lose some faith in the validity of the process. That’s predicated on the idea that more jobs weren’t lost than there were gained. And that seems to be what’s revealed here.
What is the real unemployment rate? Does anyone actually know?
I actually heard an administration hack say proudly that of the 250,00 new jobs, “only” 50,000 were census jobs this month.
Unfortunately, the “market” sees what is happening, not a State-educated Obama fellator journalist who continues to spin lies as Washington burns.
The U6 unemployment rate counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts "marginally attached workers and those working part-time for economic reasons." Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the "marginally attached workers" include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over
balance?
naaah.. the beauty of FR is that you don’t have to click on the thread if you don’t want to.
don’t begrudge a lot of us here for posting this stuff , you aren’t as out of touch as many so you’re not a good target. this one begs for ridicule, one of the few things many of us can afford to ladle out these days.
fwiw, the title says it all sometimes and is worth its weight in gold and reinforces how those who would hold sway over the masses are willing to skirt the truth and twist things for their own purposes.
that being said, we wouldn’t want to waste your time or ours, now go pull some weeds or sumthin’... unless your from Minniesoda, then go shovel some snow.. yes, snow , In May.. ;-}
What strong jobs data would that be?
Unless they mean the lack of jobs ought to have thrilled the euroweenies.
Just off nOOb probation and you post like that?
hopefully you forgot the “/s”.
Obama 9.9% unemployment after a 0.2% increase... Something to celebrate...
Yep, the left is right. Our media is not biased.
rotting Limburger cheese alert - rotting Limburger cheese alert - rotting Limburger cheese alert
“we need more balance”?
Oh, okay FR nanny
Well I must be more out of it than I thought, because this is the first time in my 59 years that I’ve heard of the unemployment referred to by the terms U3 and U6.
Just for you Frantzie
At least you are not obnoxious like so many other people -
you are obnoxious in a different and worse way!
Exactly!
- Bush average budget deficit $220 billion/yr — The world is coming to an end!
- Obama budget deficit 2009 $1.4 trillion, 2010 $1.8 trillion — Obama is saving us from Bush!
Frantzie lets us all know (on every fourth post) how wrong-headed we are to enjoy football.
Actually we need more Cow Bell
We should probably make a page of those types of things. It would sure out the lefty media.
there was NO strong US jobs data
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