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March 5, 2010 / Hal (GT)

Friday News, Unemployment, Debt, Mortgage, and that shiny yellow metal.


Good evening everyone. Was the week good for you? It was me. Though very crowded with some unplanned stuff. But hey, that makes life interesting.

Well, it’s looking like the gold spot until the next market opens on Sunday evening is $1,135.50. I like how it’s traded this week. Watching it with the precious metal tracker application, gold faced some selling pressure that tried to force it down but it rallied and has closed now over the $1,125 point. So it’s climbing inch by inch right now. It’s been fun to watch. Silver is at $17.39 and as such has performed better today than gold.

I am looking at six tabs on my browser with items that I found very worth reading. The first is to me well worth reading. I even printed it out to hand to some people.

Our world balances on a sea of debt

The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted fraudster Darius Guppy offers a provocative personal view.

Here’s a great run down on the unemployment numbers released today which Harry Reid said was good news.

Yeah, good news. I guess the world is living with Alice and Wonderland. Any way, check out:

Unemployment Rate Holds Steady at 9.7%

There were no huge surprises in this report. One thing to keep in mind is that the government is currently hiring a record number of Census workers. 15,000 census workers were hired in January, and the government plans to hire over 1 million temporary census workers over the next couple of months. So a temporary boost in employment in the next couple of months can be expected.

While the Federal government is adding temporary jobs, states and local governments are continuing to shed jobs. 25,000 state and local jobs were lost in January. With budget crises in states reaching a crescendo, expect public sector unemployment to increase.

This is an important read if you ask me:

Construction Developer Says Banks Suddenly Playing Hardball, Asks “Mish, What’s Going On?”

Today I received an email from “Construction Insider” concerned about banks suddenly play hardball and calling in construction loans.

Here’s several links I won’t quote from but worth reading:

Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy

The Primary Source Of January’s Surprising Boost To Consumer Credit? Why, The US Government Of Course

A fun read:

Gold grab underway

I know I said six links at the beginning of this but I’d like to throw in this other:

Markets, Money and Life With Grandich and George – March 5, 2010

Have a great weekend.

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