Unemployment

Unemployment hit and blew through the 10% barrier; the U.S. is now “officially” at 10.2%.  If one uses the broadest government indicator of unemployment the number comes in at roughly 17.8% but if one removes the government birth/death numbers (and other assumptions) unemployment actually is reported around 22.1%.

The reason for the roughly jump from 9.8% to 10.2% is being pinned non-farm payroll decline of roughly 190,000 individuals.  The forecasted loss was 175,000.

In December of last year I stated my belief that unemployment would be at 10% by the end of 2009.  That said, the fact that the U.S. hit 10.2% in October – not November or December – is a bit of a surprise for me.

With the dollar decline/gold rise, Capmark/CIT bankruptcies, and earnings events now in recent memory, I can sit down and write why I believe the U.S. is facing potential hard economic times in 2010. Expect that post this weekend…

UN’s ElBaradei say Inspectors found nothing to worry about in Iran

I have serious doubts about this comment:

The International Atomic Energy Agency (IAEA) chief says that UN inspectors have found “nothing to be worried about” in Iran’s latest nuclear facility.

There are three reasons as to why I hold a bit of skepticism:

1. ElBaradei has been shown to alter information that would favor Iran. It is very clear that he can no longer be considered a neutral party.
2. Because the UN states this location is not a concern does not clear other Iranian facilities
3. The UN is demanding Iran explain evidence suggesting that Iranian scientists have experimented with an advanced secret nuclear warhead design

So does any of this make sense?

I truly want to know how ElBaradei has the audacity to comment to the world that Iran is not pursuing nuclear weapons when his own organization possesses evidence Iranian scientists are moving in that direction.

There is no clear status indicator for the Iranian Nuclear program but it does not take an individual with a Ph D to see what the true intent of Iran is, does it?

Gold hits a new high

I semi-mentioned this above, and I will go into detail this weekend, but gold has established a new record price.

For a quick moment gold touched $1,101.90 per ounce.  What does this mean?  How does this impact the world? What is the driving force for such a movement?  I’ll give my thoughts this weekend.

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