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popeye1250 -> RE: What happened to that gas? (5/7/2011 9:51:03 AM)
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quote:
ORIGINAL: Sanity
Just the facts:
quote:
U.S. Payrolls Grew 244,000 in April; Unemployment at 9%
American employers in April added more jobs than forecast, indicating the world’s largest economy is weathering the impact of higher fuel prices.
Payrolls expanded by 244,000 last month, the biggest gain since May 2010, after a revised 221,000 increase the prior month, the Labor Department said today in Washington. The jobless rate climbed to 9 percent, the first increase since November, a separate survey of households showed. Employment was forecast to grow by 185,000 last month, according to the median estimate of economists surveyed by Bloomberg News.
Stocks jumped after four days of losses, commodities rallied and bonds slid as the report eased concern that the economic recovery is cooling. The figures bolster Federal Reserve Chairman Ben S. Bernanke’s forecast for a labor market that is “improving gradually.”
“This is good news, and it’s getting better,” James Glassman, senior economist at JP Morgan Chase & Co. in New York, said in a radio interview on “Bloomberg Surveillance” with Tom Keene. “People increasingly are becoming more confident that we are on a recovery track.”
The Standard & Poor’s 500 Index advanced 1.1 percent to 1,349.13 at 10:15 a.m. in New York. The Thomson Reuters/Jefferies CRB Index of commodities added 0.4 percent, erasing an earlier decline as oil reversed a 5.2 percent slide. The yield on the benchmark 10-year note increased to 3.2 percent from 3.15 percent as Treasuries halted a six-day rally.
Full article at: http://www.bloomberg.com/news/2011-05-06/u-s-payrolls-increased-244-000-in-april-unemployment-rate-climbs-to-9-.html
Apparently, if I read this right oil is headed back up
According to CNBC the "real" rate of unemployment is closer to 16% and the "real" rate of inflation is 10%.
They said that the unemployment level is "closer to Depression era levels than Recession levels.
And I've even heard talk of bringing back factories from overseas!
Of course "Washington" would never acknowledge those figures!
"Hey, we're "transparent" but we're not THAT fucking transparent!"
Just go to the grocery store and look at the prices instead of just grabbing stuff and throwing it into your cart.
I save all my receipts, I have a big box for each year, "2006", "2007" etc and I tend to buy the same things when I shop and I can see that inflation is indeed closer to 10% than 1.5%. There's no gray area there, figures and amounts on the receipts don't lie.
I had a professor in college who used to tell us; "mathematics is not an "opinion."
And fuel costs *surely do* get passed on to the consumer at the grocery store!
For the last year or two people like Jim Rodgers have been telling investors to "buy commodities not stocks."
Naturally commodities have been bid up over the last two years and many people are cashing out.
CNBC the other day reported that the average purchase at the pump for gasoline has been dropping for the last two months as many people stop filling up and only buy $10 or $15 worth of gas at a time. When that "pain level" is reached you know prices will have to start comming down as fuel starts to "back up" in the system. And that "pain level" seems to kick in at around $3.30 to $3.50 per gallon. That's it's "resistance level."
A few years ago when gas hit $4.00 everything just fell off a cliff! Restaurants receipts here were down by 40%!
When gas prices hit $4.00 per gallon here a few years ago I was buying 3 to 5 gallons at a time and I can afford to pay $4.00.
I figured why should I be "storing" 15 gallons of fuel for the big oil companies?
All the commodities are in a severe bubble now and they're going to fall. PaHunk, you'll never go broke taking a profit!
We're probably going to see a big correction over the next month or so.
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