Global Economy Bursting?

[nm505]

California Unemployment Rate Down

From the California Employment Development Department:
California’s unemployment rate decreased to 9.6 percent in February, and nonfarm payroll jobs increased by 41,200 during the month for a total gain of 725,100 jobs since the recovery began in February 2010,according to data released today by the California Employment Development Department (EDD) from two separate surveys.
The number of people unemployed in California was 1,792,000 – down by
26,000 over the month, and down by 209,000 compared with February of last year.

http://blog.sfgate.com/bottomline/2013/03/29/california-unemployment-down/

While still among the highest rates, it is a step in the right direction. http://www.bls.gov/news.release/laus.nr0.htm
California, Mississippi, and Nevada had the highest unemployment rates among the states in February, 9.6 percent each. North Dakota again had the lowest jobless rate, 3.3 percent. In total, 22 states had jobless rates significantly lower than the U.S. figure of 7.7 percent, 11 states had measurably higher rates, and 17 states and the District of Columbia had rates that were not appreciably different from that of the nation. (See tables A and 3.) Four states had statistically significant over-the-month unemployment rate declines in February: Rhode Island (-0.4 percentage point), Vermont (-0.3 point), and California and New Jersey (-0.2 point each).

 

[Randolph Kinney]

Other States Want California’s Dairy Farms – and they’re Offering Incentives to Move

http://fox40.com/2013/03/30/other-s...farms-and-theyre-offering-incentives-to-move/

Other states have long poached California manufacturers and jobs. Now they’re coming for the cows.

Seizing on the plight of the state’s dairy industry, which is beset by high feed costs and low milk prices, nearly a dozen states are courting Golden State dairy farmers. The pitch: cheaper farm land, lower taxes, fewer environmental regulations and higher prices for their milk.

At the World Ag Expo, a behemoth trade show held in Tulare County last month, nine states had recruitment booths on the ground’s Dairy Center.

South Dakota sent its governor, Dennis Daugaard, to make a personal appeal for his state. Ag officials there estimate that a single dairy cow creates $15,000 worth of economic activity annually through feed, vet bills and the like. That translates into jobs and revenue for hard-pressed rural areas.

“We’re trying to corral some California cows,” Daugaard said recently. “We’re looking for dairymen who are looking to move out of California.”

 

[Randolph Kinney]

California sales tax increase will impact the Central Coast

http://www.ksby.com/news/how-the-california-sales-tax-increase-will-impact-the-central-coast/

Mar 30, 2013

The sales tax in more than 20 cities and counties across California are set to increase Monday, and some locals will be impacted.

In San Luis Obispo County, Paso Robles is the only city increasing its tax rate. It is currently set at 7.5% and will go up to 8% on Monday.

In Monterey County, Carmel will increase its tax rate from 7.5% to 8.5%.

Welcome to California!

 

[Randolph Kinney]

New York, California last in personal freedoms

http://www.foxnews.com/politics/2013/03/31/survey-new-york-california-last-in-personal-freedoms/

The “Freedom in the 50 States” study published last week by the libertarian-leaning Mercatus Center ranks New York last and California second to last.

The survey is based on fiscal issues such as job prospects and tax rates, regulatory policies that include property rights and personal freedoms such as gun laws.

The result is New Yorkers are voting with their feet, with roughly 1.7 million leaving between 2000 and 2010, though newborns and new immigrants are keeping the state's population steady, according to the study.

White Plains attorney John Murtagh told CBS New York, “But the economics of New York clearly don’t work. And then you see things like Mike Bloomberg and his Big Gulp sodas.”

The study authors said California's biggest problem is business regulation, though a recent attempt to impose a higher tax rate on the state’s highest earners has become a major complaint among residents.

“The Golden State, with hundreds of miles of picturesque Pacific coastline, nonetheless managed to drive off a net of 1.5 million residents between 2000 and 2010 -- over 4 percent of its 2000 population,” the authors wrote.

They also pointed out Californians' personal income contracted by 0.4 percent a year in the seven years before the Great Recession struck, a record worse than any other state besides Michigan.

 

[Workbox]

Rebar Slumps to Lowest Since December on China PMI, Inventories

If rebar is on a slump, it could either mean that it is seasonal event or that there is no demand for construction. Rebar is usually ordered way in advance like much other commodities.

But Hey! the stock market is still going up. All is GOOD.

 

[Terrel L. Shields]

Pride goeth before a great fall

 

[JSmith43]

Were they reenacting that scene from Butch Cassidy & the Sundance Kid?

 

[DTB]

The same problem exists in the commodities market. There are many days that more bushels of corn, wheat, or bbl.s of oil are traded than exist in the world .... there needs to be a fixed amount of such goods that can be traded.

The amount traded in a period is not related at all to the total quantity of the commodity available. Think, 1 BU traded 5 times in a day. Still only 1 BU was in play.

 

[Randolph Kinney]

As Market Heats Up, Trading Slips Into Shadows

http://www.nytimes.com/2013/04/01/b...?nl=todaysheadlines&emc=edit_th_20130401&_r=0

As the stock market continues to climb, trading has increasingly migrated from established bourses like the New York Stock Exchange to private platforms, including dark pools, that are largely hidden from public view. The shift is helping big traders hide what they are doing in the markets, and regulators are worried that the development could obscure the true prices of stocks and scare away ordinary investors.

The movement, under way for several years, has gathered force recently. The portion of all stock trading taking place away from the public exchanges hit new highs over the last few weeks, amounting to close to 40 percent on several days, up from an average of 16 percent in 2008, according to Rosenblatt Securities.

 

[Terrel L. Shields]

1 BU traded 5 times in a day. Still only 1 BU was in play.

If 10 bu. are promised to be delivered on Tuesday, and there are only 5 bu. the market is distorted...the exchanges have limits up and limits down to avoid distorting the market.