Financial News

[Balta1701]

Deutsche Bank executive, high on bath salts, gets arrested.

 

http://losangeles.cbslocal.com/2012/08/21/...-on-bath-salts/

 

lol

Did they catch him because he was eating someone's face? Or because eating people alive is his day job, and he looked suspicious when he stopped?

[bmags]

Was about to start a savings acct with ING Direct but reviews since capitalone merger have been hammering it. I'm still leaning toward it, because it still has no fees on anything and the best tools for getting your money (ALLY still has no mobile app), but I am nervous. Anyone have ING notice any differences?

[Rex Kickass]

Was about to start a savings acct with ING Direct but reviews since capitalone merger have been hammering it. I'm still leaning toward it, because it still has no fees on anything and the best tools for getting your money (ALLY still has no mobile app), but I am nervous. Anyone have ING notice any differences?

I was nervous as well, but I'll be honest, I've noticed absolutely no difference whatsoever. I miss my 4.65% Interest rate though.

[bmags]

I was nervous as well, but I'll be honest, I've noticed absolutely no difference whatsoever. I miss my 4.65% Interest rate though.

 

Cool, so all actually people I've spoken to have noticed no difference. Online reviews are polarized, I think i'm going to set it up tonight.

[Rex Kickass]

In fact you can now deposit checks directly with a mobile device. Which is pretty cool.

[NorthSideSox72]

Now post-convention and two months out from the elections, I'm gonna go out on a limb and say that the UE rates, the jobs numbers, and the equity markets, are all gonna pretty much go sideways until election day.

 

What both parties continue to ignore here, at the peril of the country, is that the continued unknowns are a bigger problem to business and market growth than EITHER side's actual policy efforts. More regulation on the markets and banks, or less, either way, get it down on paper and passed, and signal that this is the way it is for a while. Same for taxes, and government spending. This situation where everyone is holding their breath is the single biggest reason we aren't growing.

 

[Chisoxfn]

8.1% unemployment....that is bad, California at 10.7% and the actual real unemployment rate is significantly worse, imo. It blows my mind how many young people I know either can't get jobs or are getting minimum wage jobs. Pretty sad. Definitely makes me appreciate the opportunities my wife and I have had thus far in our young lives.

[bmags]

8.1% unemployment....that is bad, California at 10.7% and the actual real unemployment rate is significantly worse, imo. It blows my mind how many young people I know either can't get jobs or are getting minimum wage jobs. Pretty sad. Definitely makes me appreciate the opportunities my wife and I have had thus far in our young lives.

 

There was like 187k removal from the workforce for agest 16-19 for this report. That's such a bizarre number I don't even know what to make of it. More going to college than traditional? More older workers taking food service jobs?

 

For months now we get the ADP and weekly unemployment numbers and I think the NFP will be good and the NFP has not been close to good. If the winter speeds up again I'm not getting excited unless it's 300k a month. The seasonal adjusted numbers for winter just seem to be way off.

[Y2HH]

8.1% unemployment....that is bad, California at 10.7% and the actual real unemployment rate is significantly worse, imo. It blows my mind how many young people I know either can't get jobs or are getting minimum wage jobs. Pretty sad. Definitely makes me appreciate the opportunities my wife and I have had thus far in our young lives.

 

I have to ask, as I think we all know people in similar employment circumstances...how much of that is their own fault?

 

I know I can't speak for everyone, but I'm doing better now than I ever have been...so to answer a oft repeated Republican talking point...are you better off now than 4 years ago? Yes, I am. And 4 years ago I was better off then that I was the 4 years prior to that. And so on...

[bmags]

I have to ask, as I think we all know people in similar employment circumstances...how much of that is their own fault?

 

I know I can't speak for everyone, but I'm doing better now than I ever have been...so to answer a oft repeated Republican talking point...are you better off now than 4 years ago? Yes, I am. And 4 years ago I was better off then that I was the 4 years prior to that. And so on...

 

I got lucky getting my job and I've done very well since. But it was miserable being unemployed working at a potbellys getting $400 paychecks when I had $400 rent. My friends out of college have had some brutal luck. Getting a job one month and laid off a few months later when they lose a contract, etc. Moving all over the country for work. It's easy when you have a job to forget what it's like trying to get one. Also aren't you in IT and engineering? Not exactly a problem industry right now. Most of the losses have come from manufacturing and it hasn't come close to recovering (if ever).

[mr_genius]

Now post-convention and two months out from the elections, I'm gonna go out on a limb and say that the UE rates, the jobs numbers, and the equity markets, are all gonna pretty much go sideways until election day.

 

What both parties continue to ignore here, at the peril of the country, is that the continued unknowns are a bigger problem to business and market growth than EITHER side's actual policy efforts. More regulation on the markets and banks, or less, either way, get it down on paper and passed, and signal that this is the way it is for a while. Same for taxes, and government spending. This situation where everyone is holding their breath is the single biggest reason we aren't growing.

 

You're starting to sound like a Republican NorthSideSox72.

[Chisoxfn]

I have to ask, as I think we all know people in similar employment circumstances...how much of that is their own fault?

 

I know I can't speak for everyone, but I'm doing better now than I ever have been...so to answer a oft repeated Republican talking point...are you better off now than 4 years ago? Yes, I am. And 4 years ago I was better off then that I was the 4 years prior to that. And so on...

Personally I can't complain. However, I've seen some pretty good and hard working people get laid off over the past few years and some have had hard times finding jobs. Are there people I know that are lazier, sure, but lazy people have found work at much higher rates in the past then now. A top performer is a top performer, but our economy and the unemployment #'s aren't based upon top performers.

 

The way I see it, the % has always included lazy people and while I think to an extent, the younger generation is lazier (and I'm in that generation), I don't think it really explains the high unemployment because there were always those people.

 

I'm also still young and developing though. I think if I were in a more seasoned position, that answer might be different. And I can flat out say businesses are struggling, places are struggling. Talk to sales people and I think most of them will tell you most of the customers they work with are still hurting. God a buddy who works in sales for Heinz. Makes pretty good money but everyone he calls is bleeding/hurting still. Grocery stores, fast food places, etc.

[bmags]

Personally I can't complain. However, I've seen some pretty good and hard working people get laid off over the past few years and some have had hard times finding jobs. Are there people I know that are lazier, sure, but lazy people have found work at much higher rates in the past then now. A top performer is a top performer, but our economy and the unemployment #'s aren't based upon top performers.

 

The way I see it, the % has always included lazy people and while I think to an extent, the younger generation is lazier (and I'm in that generation), I don't think it really explains the high unemployment because there were always those people.

 

I'm also still young and developing though. I think if I were in a more seasoned position, that answer might be different. And I can flat out say businesses are struggling, places are struggling. Talk to sales people and I think most of them will tell you most of the customers they work with are still hurting. God a buddy who works in sales for Heinz. Makes pretty good money but everyone he calls is bleeding/hurting still. Grocery stores, fast food places, etc.

 

Plus, we are more likely to know people with a college degree, whose unemployment rate has been largely manageable. Those without have seen much of the harder issues.

[Chisoxfn]

Plus, we are more likely to know people with a college degree, whose unemployment rate has been largely manageable. Those without have seen much of the harder issues.

I'll be honest, pretty much everyone I know with a college degree is unemployed or severely underemployed. Or they have a job and then don't have a job. Now some didn't get the best/most marketable degrees and I'm not going to say they are overachievers, but still, It is surprising cause I think in a normal market they'd be sucked up and would be "average" employees.

 

I bust my ass every single day. No guarantees in life and I could be fired tomorrow, but I'm more then willing to put in whatever hard work is necessary. My average day is 10 working hours a day (albeit, things are relatively slow for me right now, hence why I'm posting on here). I think when you combine hard work and a valuable degree, you will be fine, but the reality is most people don't want to work 50-60 hours a week, so to be frank, I have an easier opportunity to stand out and make a name/reputation for myself within my company.

[NorthSideSox72]

You're starting to sound like a Republican NorthSideSox72.

I was before, and pretty much always have been, neither Dem nor GOP'er. Posters like Balta and SS think I'm a Republican, posters like you think I'm a liberal. People here like to put me into one category or the other. But my views are on the left on some issues, the right on others, and neither on yet more. I've voted in 5 presidential elections so far: I've voted for 2 GOP, 2 Dem, and 1 Independent. And I'm still not 100% sure who I will vote for this time.

 

[NorthSideSox72]

I'll be honest, pretty much everyone I know with a college degree is unemployed or severely underemployed. Or they have a job and then don't have a job. Now some didn't get the best/most marketable degrees and I'm not going to say they are overachievers, but still, It is surprising cause I think in a normal market they'd be sucked up and would be "average" employees.

 

I bust my ass every single day. No guarantees in life and I could be fired tomorrow, but I'm more then willing to put in whatever hard work is necessary. My average day is 10 working hours a day (albeit, things are relatively slow for me right now, hence why I'm posting on here). I think when you combine hard work and a valuable degree, you will be fine, but the reality is most people don't want to work 50-60 hours a week, so to be frank, I have an easier opportunity to stand out and make a name/reputation for myself within my company.

Really? It has been the opposite with me. Most everyone I know with a degree has a decent job, if not a great one. There are always a few on the street at any given time, and it has been a higher number the past few years, but still a small minority.

 

[bigruss]

Luckily I work in an area with a reported close to 0% unemployment. I'm also working at a company that is growing in a big way, and we expect to go from $8b to around $15b in the next 5 years.

 

That said, I would say 90% of the friends I had from college with a business or engineering degree have a job right now (the ones that didn't get one seriously tried not to it seemed, or had extreme reasons such as dressing too punk rock to interviews, *shakes head*).

 

 

[Chisoxfn]

Really? It has been the opposite with me. Most everyone I know with a degree has a decent job, if not a great one. There are always a few on the street at any given time, and it has been a higher number the past few years, but still a small minority.

I think I read somewhere that people think the real unemployment rate of people graduating college is somewhere in the 15-20% range, which is pretty high. And that article indicated they thought it could even be larger then that when you consider those who don't show up at the statistics because they took a job at starbucks, etc.

[mr_genius]

I was before, and pretty much always have been, neither Dem nor GOP'er. Posters like Balta and SS think I'm a Republican, posters like you think I'm a liberal. People here like to put me into one category or the other. But my views are on the left on some issues, the right on others, and neither on yet more. I've voted in 5 presidential elections so far: I've voted for 2 GOP, 2 Dem, and 1 Independent. And I'm still not 100% sure who I will vote for this time.

 

I would put you in the corporate Democrat category. That being said, Romney is probably your guy this time around.

[Chisoxfn]

http://www.theatlantic.com/business/archiv...yed-how/256237/

 

About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.

 

Out of the 1.5 million who languished in the job market, about half were underemployed, an increase from the previous year.

 

These numbers are hard to fathom, and the more you compare them to other measures of unemployment, the more bizarre they seem. Unfortunately, I don't have all of the data the AP was working with. But their analysis implies that about a quarter of the post-collegiate population is outright unemployed. By comparison, in December 2011, only a fifth of 16 to 19-year-old Americans couldn't get work. Meanwhile, according to the OECD, just 18.4 percent of all Americans under the age of 25 were unemployed in 2010. By those measures, college grads are actually faring worse in the job market than the overall youth population. They're also suffering terribly compared to the older college-educated populace, which has an unemployment rate of 4.2 percent.

[NorthSideSox72]

I think I read somewhere that people think the real unemployment rate of people graduating college is somewhere in the 15-20% range, which is pretty high. And that article indicated they thought it could even be larger then that when you consider those who don't show up at the statistics because they took a job at starbucks, etc.

 

Maybe this is an age thing. I'm 39, most of my professional and other friends are 35-45-ish. If you are talking people in their 20's, I don't have much of a feel for it.

 

I would put you in the corporate Democrat category. That being said, Romney is probably your guy this time around.

 

I don't know what that means.

 

I tend to side with the right on many fiscal and intergovernmental issues, some foreign policy, but only one or two social issues. Tax-wise I sit between. Most social issues I lean left. There are a few issues, like the environment, energy and healthcare, where my ideas are really outside either party's plan. I lean towards individual (or more granular) freedoms with anything deriving from the Bill of Rights, which puts me on the right on 2A and 10A, but with the left on 1A, 4A and 5A (in general).

 

[Y2HH]

Maybe this is an age thing. I'm 39, most of my professional and other friends are 35-45-ish. If you are talking people in their 20's, I don't have much of a feel for it.

 

Now ask these youngsters what they got their degrees in. Because, you know, they have "a" degree...so the world owes them a living.

 

The problem with a lot of these degrees I've been seeing as of late, is they're from what we like to call "degree mills", which are nothing more than "arts" degrees.

 

AKA useless.

[bigruss]

Now ask these youngsters what they got their degrees in. Because, you know, they have "a" degree...so the world owes them a living.

 

The problem with a lot of these degrees I've been seeing as of late, is they're from what we like to call "degree mills", which are nothing more than "arts" degrees.

 

AKA useless.

They may actually be degrees that would be somewhat attractive to employers, but the student, imo, has no idea how to utilize that degree or approach employers with that degree.

 

For example, a psychology degree, many may feel their future with that is in academics, only to realize that field got hit hard fiscally by the economy. Instead of going back for a Masters in it, or taking an $8/hr job, they could apply that degree to a multitude of different positions at businesses. I know my company would more than welcome that degree in Supply Chain or Sales, as long as they have the right mindset for those areas.

[bmags]

I've said it before I'll say it again, I've interviewed at a lot of companies, and a lot of those companies the senior management has had english degrees or odd degrees. This whole "you need a degree in business to be a part of a business" is garbage.

 

But I love how we are blaming laziness as the reason unemployment is 8.1 percent. Not the unbelievable amount of private debt that was accumalated in the 00s by a different generation.

[mr_genius]

Now ask these youngsters what they got their degrees in. Because, you know, they have "a" degree...so the world owes them a living.

 

The problem with a lot of these degrees I've been seeing as of late, is they're from what we like to call "degree mills", which are nothing more than "arts" degrees.

 

AKA useless.

 

back in the day those degrees could get them a job. not so much now. the labor market changed fast.