Tag Archives: financial collapse

News Roundup – Jobs, Bin Laden, Trump, Airplane Engines

New jobs report

Although the headline number for job creation was below expectations, this was still a decent report.   Some positives include more wage growth (see below), fewer part-time workers for economic reasons, fewer long-term unemployed, and a decline in U-6 (an alternative measure of underemployment).

Earlier: April Employment Report: 160,000 Jobs, 5.0% Unemployment Rate

A few numbers:  Total employment is now 5.5 million above the pre-recession peak.  Total employment is up 14.2 million from the employment recession’s low.

Private payroll employment increased 171,000 in April, while government employment declined 11,000 in April, mostly at the Federal level.  Private employment is now 5.8 million above the pre-recession peak. Private employment is up 14.6 million from the recession low.

Continue reading News Roundup – Jobs, Bin Laden, Trump, Airplane Engines

Former President Bush Opens His Library

I will refrain from the jokes because there are plenty. Today President Bush opened his library. (BTW, why did he think that the word awesome needed to be used 100 times?)

Visit NBCNews.com for breaking news, world news, and news about the economy

George W. Bush can believe that he stood for Freedom. That’s fine. I will say that I’m glad that his father was able to be there. That had to be a very special moment.

That’s it. That’s all that I’m gong to say about George W. Bush and his library today. Continue reading Former President Bush Opens His Library

Jamie Dimon, rock star

Jamie Dimon, CEO of JP Morgan Chase, got Rock Star treatment on Capital Hill the other day. I really didn’t mind the wet kisses that were handed out. Okay, really, I did mind. It was as if the financial industry, including Mr. Jamie Dimon, didn’t cause the financial collapse of 2007/2008.

The crappiness of Jamie Dimon’s answers cannot be understated. When you add stupid, undereducated and misinformed questions you have the soup of absolute nothingness. The hearing was a huge waste of time. The purpose of the hearing was to figure out exactly what went wrong in this $2 billion loss that J.P. Morgan Chase took on a single trade deal. Since J.P. Morgan Chase is a bank and an investment house, we, the American people, ensure their survival. Basically, we are underwriting their risky bets. This is the whole reason for calling him to Capitol Hill. Yet we got nothing. No answers.

More from Matt Taibbi: Continue reading Jamie Dimon, rock star