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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (52627)	2/4/2006 11:40:35 AM
From: russwinter	Read Replies (3) \| Respond to of 110194

Welcome back, haven't heard from you in a awhile. Here's the numbers on corporate profits, wages and salaries, and non-residential fixed investment during the "recovery", see page 6. cbpp.org Big boon for Wall Street as they squeeze labor, fail to invest and just engage in paper transactions, financial manipulations and promoting debt Bubbles to keep consumers spending. Fully explains the bull market of the last several years. The big question now, is there a sea change underway in all this? Is labor going to win whatever pie remains over corporations, at least relatively? Would seem corporate has just about exhausted it's ability to squeeze labor, especially in productive industries. On the otherhand, the non-productive Bubble sectors like financials, consumption, may be just getting underway in terms of layoffs (). The problem though, can a mortgage or real estate broker be retrained as a railroad worker? And can illegals really be used for many of these kind of jobs? Like everything els in the US economy, the problem is maladjustment and huge imbalances. () Mortgage Layoffs Continued in December Mortgage companies trimmed 1,400 full-time employees from their payrolls in December, following 2,000 job cuts in November. The U.S. Bureau of Labor Statistics reported that employment in the mortgage banker/broker sector declined to 500,900 in December from 502,300 in November. BLS previously reported that mortgage firms shed 200 employees in November. But a year-end benchmark revision now shows that companies actually were more aggressive in cutting their payrolls. Overall, industry employment averaged 489,900 in 2005, compared with 467,700 in 2004. In the past few weeks, MortgageWire has reported on layoffs at prime and subprime lenders alike, including Ameriquest Mortgage, Argent Mortgage, Aurora Loan Services, BNC Mortgage, ECC Capital Corp., and Countrywide Home Loans. (See the Feb. 6 issue of National Mortgage News for more employment-related stories.) The BLS can be found online at stats.bls.gov. 500,900 mortgage jobs remain, still a long ways to go, deflating this one: idorfman.com