BLACK FRIDAY? - 05 Aug 2011

* Debt, growth uncertainty fuels risk aversion * Gold seen heading higher * Coming up: U.S. non farm payrolls July; 1230 GMT By Harpreet Bhal LONDON, Aug 5(Reuters) - Gold jumped on Friday as investors took refuge from equity and debt markets on mounting concerns about the threat of contagion from the euro zone crisis and as worries about a slowdown in U.S. growth fuelled a pullback in risky assets.

Kitco

yep, everyone is waiting for the Americans! I can almost here the drumroll!

I originally thought the July jobs report would be out later in the day today, but it looks like it will be out in around 30 minutes.

www.marketwatch.com...

WASHINGTON (MarketWatch) - The U.S. Labor Department will release the monthly employment report for July at 8:30 a.m. Eastern. Economists surveyed by MarketWatch estimate the U.S. added 75,000 last month, with the unemployment rate unchanged at 9.2%.

Im in central time so its 7:30am when it comes out for me. I know its extremely early to start doing this, but im grabbin a beer.

reply to post by buni11687


enjoy your last beer, as it will be 10 times the price in a few months

sad days

Bear Market Bubble finally bursts. There really was no reason for the stocks to climb back so fast after the crash in 2009. This was bound to happen, I'm actually surprised this took so long. Stocks kept climbing up when the Economy was still bad or even worse...

reply to post by buni11687


Yep, due out 12:30 GMT So about 10 mins to go until we see which direction this is going to go.

My grandparents had a bad feeling about all this debt talk stuff in Washington so they pulled all thier money out of the stock market. Man did they get lucky. They said thier gonna wait till fall to rebuy in.

Originally posted by icepack
op, you do not seem to have much financial knowledge.
you think you saw it on the ticker last night ? come on, are you kidding me ?
you went wrong by a "1000" times.

if he saw it last night it is not a difficult task to mistake a "B" for an "M" - get a frickin life and cut some slack once in a while!

More than a worthy cause to point out this shte storm

reply to post by JakiusFogg


I think it is amusing (in that sick kind of way) that our Prime Minster, deputy PM and Chancellor are all on holiday at once I wonder if they have bags of swagger with them???

It reminds me of a time working with the military that we had a major issue that meant we had to contact Whitehall via the emergency phone only to get a recording saying it was lunch and to call back later

reply to post by thoughtsfull


Ahh but you see it is always more awe inspiring and news worthy when the headline reads "PM cuts short holiday to hed up emergency economic review panel"

it shows his "commitment" to the cause.

Can you say, exit stage left!

reply to post by JakiusFogg


I had not thought of it that way...
for you
for them

Obama To Speak On Jobs At 11:00 am, BLS Commissioner To Testify On July Jobs At 12:45pm

Zero Hedge

The news is not release for another 4 mins, why does Obama wnat to talk to the country at 11am!!!!???

Oh-Ohhhh!

13:30 USD Private Payrolls med 154 113 80 13:30 USD Unemployment high 9.1 9.2 9.2 13:30 USD Non-farm Payrolls high 117 85 Read more: www.babypips.com...

Results are in Unemployment down to 9.1% so 0.1% jobs made better than expected

So I guess the rioting will be coming soon.

Right now all the educated and informed people are in panic mode but not rioting yet.

What will happen when the uneducated or uninformed have this financial crisis hit them in the face?

Beer may be affordable this morning. Tomorrow it may cost 10x as much. That will be one factor precipitating an under-middle class riot. I would think this would happen all over the US and not just in one state.

Although I would think DC would see the greatest amount of riots due to the Fed governement being located there.

Less than 5 minutes for the Jobs report.

-E2

I guess the job report is considered positive

www.marketwatch.com...

WASHINGTON (MarketWatch) - The U.S. economy added 117,000 jobs in July and an even larger 154,000 in the private sector while the unemployment rate fell to 9.1% from 9.2%, partly because 193,000 people dropped out of the labor force, according to the latest government data.

193,000 dropped out of the labor force? Does this mean that 117,000 jobs and 154,000 jobs have been created together?

FTSE and Dax had climbed back up cutting some of the losses, however now continues to drop

FTSE -2.20% will see how this affects the market.

Employers added more jobs than forecast in July, the jobless rate fell and wages climbed, easing concern the U.S. economy is grinding to a halt. Payrolls rose by 117,000 workers after a 46,000 increase in June that was more than originally estimated, Labor Department data showed today in Washington. The median estimate in a Bloomberg News survey called for a July gain of 85,000. The jobless rate dropped to 9.1 percent as more Americans left the labor force, while average hourly earnings climbed 0.4 percent.

Bloomberg

OK, are these figures fudged.

The unemployment rate went down because 194,000 people left the workforce, i.e. retired.

So the workforce shrinks, so comparatively the number of people without jobs went down becuase some of the unemployed retired!!! Does this make real sense to anyone.

reply to post by EyesII


In current times, are people REALLY gonna care about BEER?

Man, I'm so lucky I've never had a drop of the stuff and can be concerned about serious things rather than the trivial.

Anyway, I might be heading to the outback soon, go to my family's farm. Get away from this stuff for a while.

I came out of my bunker to see if any nukes where flying over head yet, I realised I need more bread and water. Dont tell the wife but I also wanted to check my online bank acc, funds are still there, all kidding aside. Im not in anyway knowledgable on this market malarky, I do have substancial funds in different accounts. Is it time to go collect it hard cash or do I let it sit. Im in the UK BTW. Basically im just wanting someone to tell me the nutts and bolts of what to do with my cash

reply to post by shadowland8


Take some beers with you. You'll be glad you did. Hey at lest you'll have something to barter with.!

reply to post by DarthPhobos


Speak to a financial advisor. Not us crazy people. We are only responsible for losing our own money!! not yours! heheheheh