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Baltic Dry Index Has Worst Week Since October as Demand Slows
Aug. 7 (Bloomberg) -- The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for shipments of coal and iron ore slowed.
The index tracking transportation costs on international trade routes today slid 135 points, or 4.6 percent, to 2,772 points, according to the Baltic Exchange. That took its weekly drop to 17 percent, the most since the end of October.
“The Chinese have backed off and it’s starting to show in the number of shipments this month,” Gavin Durrell, a Cape Town-based official at Island View Shipping SA, Africa’s biggest commodities shipping line, said by phone today. “Iron ore and coal seem to be slowing down.”
"The number of long-term unemployed (those jobless for 27 weeks or more)
rose by 584,000 over the month to 5.0 million. In July, 1 in 3 unemploy-
ed persons were jobless for 27 weeks or more. (See table A-9.)
About 2.3 million persons were marginally attached to the labor force
in July, 709,000 more than a year earlier."
Originally posted by Rockpuck
I am very disgusted with the rampant stupidity in this country at the moment...
Originally posted by redhatty
Regarding the Unemployment numbers....
U6 Seasonally Adjusted down to 16.3%, Not Seasonally Adjusted unchanged @ 16.8%
LOOK at that again, that's the "real" numbers
if you look at the full report with tables you will also see this lovely notation
637K spike in everybody's favorite group, "Not in Labor Force".
Those are the folks who just ran out of UE and rolled off the rolls. DO you really think they magically found a job once their benefits ran out??
[edit on 8/7/09 by redhatty]
Originally posted by cpdaman
a created.....pandemic will solve alot of issues in a very ugly
Originally posted by pause4thought
reply to post by cpdaman
Instead of a 'them & us' mentality the PTB should work for the people. That way theoretical evil, callous solutions would never even come into the equation.
Colonial BancGroup faces criminal probe, FDIC action
BANGALORE (Reuters) - Colonial BancGroup Inc (CNB.N) said it faces a criminal probe by the U.S. Department of Justice (DoJ) related to accounting irregularities at its mortgage lending unit, and the struggling lender warned it may be put under receivership.
In a regulatory filing, the company said the Alabama State Banking Department may appoint the Federal Deposit Insurance Corp as receiver or conservator for its banking unit after August 12.