Continuing so-called Operation Twist beyond this month would help the Fed meet its congressional mandate to ensure full employment, Rosengren said in an interview with Bloomberg News before a Labor Department report that unemployment in May rose to 8.2 percent.
May Non-Existent Payrolls Report
69k jobs added in May, unemployment rate ticks up for the first time in a year to 8.2%
Hot Links: Villains
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THE LEAST IMPORTANT JOBS REPORT OF ALL TIME
So sleep tight and be up bright and early tomorrow – for the Least Important Jobs Report of All Time!
Tops, Bottoms & Middles
Tops are a process, Bottoms are an event and Middles are a motherfucker.
Throwback: Payback, Live in Zaire (1974)
Video.
We interrupt this European crisis to bring you the Chinese Recession
China is in awful shape right now. How did we get here?
Jeff Kleintop on the Potential for Post-Greek Election Bank Runs
This could then be followed by panic with banks closing their doors for “bank holidays” to halt the runs. The European Central Bank would likely have to inject massive amounts of capital to keep the banks from collapsing.
No, the banks have not found religion.
The encounter with Polkinghorne was brief and tense, Hunt says. The number of loans classified as defective would have to fall, he told them, or it would be “your asses on the line.”
Hot Links: The Breaking Point
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