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How bad is the economy? Even counterfeiters are shifting down to more ordinary goods. The NYT explains.
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financials

Posted by crgarcia in the Economics forum:

Most (if not all) people hire illegal immigrants to pay wages below the minimum wage.

Judge Susan Bolton didn’t block parts of the SB1070 law that punish hiring illegal immigrants.

SB1070 is only the beginning, other states want to pass similar laws, they are waiting to see how AZ does.

So, if hiring illegal immigrants becomes harder (this is unavoidable), will America end up REDUCING minimum wages, to compensate?

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financials

Posted by wilburbear in the Wall St. News forum:

Check the “comments” after “What SEC sources say about FinReg and FOIA”. This is what it says!-

Through Madoff, Stanford, Aguirre, etc., the SEC has consistently demonstrated a will to “circle the wagons” around its own interests. When has the SEC put their neck on the chopping block, and gone against what might have been its own interests, for a disenfranchised member of the public? Nobody recognizes this second set of circumstances as applying to the SEC. This organization only aspires to the condition where you cannot prove that they knew what they were doing was wrong. Everybody knows the game.

Now the SEC portrays the new FOIA restrictions as something that “protects investors” – see Chairman Schapiro’s letter to Senator Dodd. Poignantly, Schapiro’s letter never explores or acknowledges the ways the public might be handcuffed by the new FOIA restrictions. And the new restrictions could never support the SEC’s own interests – in fact, Schapiro states they (the restrictions), are, “not designed to protect the SEC as an agency from public oversight and accountability.” In Schapiro’s thesis, it’s out of the question that the SEC might benefit from the new restrictions, even though this has been a strong part of its past.

I believe I was watching Fox Business when this topic first came to the fore, on the morning of Friday July 30th. Again, the SEC was innocence itself, regarding the question of whether it’s own interests might benefit. But, the world’s most powerful securities regulator cleared her schedule quickly. She dutifully produced a three page letter explaining the history of FOIA, replete with Section “929I” references, and “Section 15 of H.R. 6513″ references, all accurate to the last detail. The letter was complete by the afternoon of July 30. No person has been simultaneously so disinterested, and so quick, since Melvin Dummar produced Howard Hughes’ will. The public wasn’t mentioned much – not in the way you’d like to be mentioned – as a right-thinking, fully autonomous adult.

It’s enough already. Chairman Schapiro should resign.

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financials

Posted by bond_trad3r in the Economics forum:

http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm

Interest Rates Paid on Required Reserve Balances
Cut 25 bps to 0.00%

Interest Rates Paid on Excess Reserve Balances
Cut 30 bps to -0.05%

Bonds would immediately soar, reducing borrowing costs. Banks would be forced to lend trillions if they want to make money.

Could this be the jump start the economy needs?

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financials

Posted by bond_trad3r in the Trading forum:

We still see more pics like this

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financials