6,816,000 Americans on the Dole

Sometime you have to look beyond the obvious. Continuing claims for unemployment set a record for the 19th consecudtive week. Nearly 6.82 million American are now receiving unemployment checks weekly. What happens when the benefits run out?

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

In the week ending June 6, the advance figure for seasonally adjusted initial claims was 601,000, a decrease of 24,000 from the previous week's revised figure of 625,000. The 4-week moving average was 621,750, a decrease of 10,500 from the previous week's revised average of 632,250.

The advance seasonally adjusted insured unemployment rate was 5.1 percent for the week ending May 30, unchanged from the prior week's revised rate of 5.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending May 30 was 6,816,000, an increase of 59,000 from the preceding week's revised level of 6,757,000. The 4-week moving average was 6,750,500, an increase of 57,250 from the preceding week's revised average of 6,693,250.

The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.238 million.

Source Department of Labor

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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The Housing and Credit Crisis Explained

This presentation on the Housing and Credit crisis is the best I have seen. It explains everything from soup to nuts.

Each slide contains a graph that is well explained.

They say a picture is worth a thousand words.

Once you get through this, you will understanding the current credit crisis in housing, and what to expect in the years ahead.

If you take the time to view and read this you will be fully informed.

Hit the full screen button in the upper right hand corner of the panel below.

T2 Partners Presentation on the Mortgage Crisis

Publish at Scribd or explore others: Research Business & Economics Finance Non-fiction world culture

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

More from All American Investor

• Bond Vigilantes Take over in the Long End (Graph)
• Ten Year Treasury Yield in Orbit (Graph)
• Ten Year Interest Rates Rising (Chart)
  
• Option ARM--The Toxic Mortgage
• Systemic Risk Defined--Too Big to Fail
• Ray Dalio on the current state of affairs in the market
• Roubini Predicts U.S. Losses May Reach $3.6 Trillion
• 60 Minutes -- Cold Fusion

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Original content All American Investor

Is Gold Ready to Glitter? (Outlook, Chart)

Read the complete article at All American Investor

June Gold, Bar, Chart


Gold has a tendency to be seasonally week from March through August. As a result, it is always risky to speculate in gold during this time frame.

In April, we wrote that gold was likely to test the 865 - 875 area. This happened, the market held, and made a very nice double bottom. This is now an area of major support.

Right now gold is running into resistance in the 827 area.

Any close over 827.50 would indicate that gold is ready to move higher.

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100 Million Adults Touched by Alzheimers

Astounding. More information at the Alzheimer's Reading Room.

clipped from www.alzheimersreadingroom.com

Read more on this topic.

Alzheimer's Reading Room: 100 Million Adults Touched by Alzheimer's

Nasdaq Composite 15 Year Perspective --Going Nowhere Fast (Chart)

Follow the link for more.

clipped from efhutton.blogspot.com Sometimes it is helpful to look at the market from a long term perspective. I think most believe the current bear market is new. However, the long term view indicates we have been in a bear market since the Nasdaq Composite topped out at 5,132 in March, 2000.

HBO The Alzheimer's Project Open to all Cable Subscribers

clipped from www.alzheimersreadingroom.com HBO is opening  The Alzheimer's Project  to all cable subscribers. Got cable? Find the HBO channel and you are good to go starting May 10. Want a free copy of The Alzheimer's Project DVD? Subscribe to the Alzheimer's Reading Room and then go here to find out how to do it.

60 Minutes Clean Coal Dilemma Over Coal Generated Power (Video and Text)

60 Minutes Clean Coal Dilemma Over Coal Generated Power (Video and Text)

60 minutes Preview The Dilemma Over Coal Generated Power

Energy CEO Jim Rogers wants to substantially reduce his plants' carbon footprint by 2050. But NASA climatologist Jim Hanson says we only have 20 years to make that achievement.


Watch CBS Videos Online

Jim Rogers, CEO of Duke Energy, knows that to help stop global warming he'll have to do something about the 100 million tons of carbon dioxide that his coal-fired power plants emit each year. But right now, he's building two more, because job one is to keep power flowing to his customers, and removing the carbon dioxide is out of the question, at least for many years to come.

Rogers speaks to 60 Minutes correspondent Scott Pelley for a report on America's dependence on coal - the dirtiest fuel and biggest contributor to global warming - to be broadcast this Sunday, April 26, at 7 p.m. ET/PT.

Jim Hansen, NASA's top climate scientist, says coal is the greatest threat to the planet, requiring immediate action."We are going to have to have a moratorium on new coal-fired power plants within the next few years and phase out the existing ones over the next 20 years…to preserve the climate like the one that has existed the last several thousand years," he tells Pelley.

But Rogers says a moratorium is not practical. "Mr. Hansen, can't get done, won't get done," responds Rogers. "We've got to keep our economy going… To do what you ask me to do now is just not doable," he says. "We can't abandon coal," he says of America's most abundant and inexpensive fossil fuel. "We have to find a way to keep it and use it in the future and that means the ability to clean it up," he tells Pelley.

Rogers says he has big plans to make his company carbon free - but it'll take at least 40 years. To help get there, says Rogers, his coal plants will have to use a new technology called carbon capture and storage, which turns the carbon dioxide into liquid and pumps it deep underground.

The problem is there are hundreds of coal-burning power plants in the U.S. alone: each would need to capture and store its carbon - and each would cost billions to build. In addition, the world's energy systems will need to be retooled. "We can do that, but it's going to take trillions of dollars to do it," Rogers says.

The Alzheimer's Project DVD -- Free Copy

Follow the link to the Alzheimer's Reading Room to obtain your free copy of the DVD.

clipped from www.alzheimersreadingroom.com Subscribers to the Alzheimer's Reading Room can now obtain a free copy of The Alzheimer's Project. I don't know about you, but I am really looking forward to viewing this documentary. I am an HBO subscriber and they really do a great job with all their entertainment. I am very confident we will be smiling, and crying, as we watch this documentary.

Google Downside Reversal? (Chart)

clipped from allamericaninvestor.blogspot.com Action today could be signaling  a downside reversal in Google. So far the low is in the critical 380 area. If 380 is breached it would signal additional downside in Google.

Cold Fusion and Palladium (Chart)

clipped from allamericaninvestor.blogspot.com Every decade or so the topic of cold fusion comes up. When it does you sometimes see Palladium, the commodity, soar. Will 60 Minutes trigger a new bull market in Palladium?

Penn State Solar Decathlon team ready to make Natural Fusion a reality

clipped from www.pennstateclips.com "Natural Fusion was born out of the idea of building an integrated house and using things that have been used for years but in a new way," said ThomasRauch, team member and media liaison. "Its redefining the engineering processand what is considered the cross-disciplinary educational process."

30 Year Mortgage Interest Rate Chart (Update)

30 Year Conventional Mortgage Interest Rate


Current Interest Rate 4.78 Percent

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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Stocks the Nervous Norvis Market (Chart and View)

There are a lot of Nervous Norvises out there.

When the market moves down for a couple of days your typical Nervous Norvis bull gets sweaty palms and heart palpitations. A couple of days down and the bears are pounding their chest. The only thing the bears can think about is bad news. Left to wonder of course, why is the market going up with all this bad news--the world is coming to an end.



The Stock market is in a classic uptrend from the capitulation low.

Review:

• During the capitulation phase the slope of the market became too severe to maintain and the market hooked off the lows as should have been expected. See: S and P Monthly Chart indicates a sharp rally is coming soon. S and P 500 in the 676 area. See: S and P 500 Rally Comes as Predicted
  
• Next we got very bullish news that most investors missed. See--Stocks Don't Fight the Tape.
• It became obvious that the market was ready for a major technical retracement in a longer term bear market. See: They called me crazy, S and P 900-1000
  
• Since the uptrend started, above 750 on the S and P 500, the market has traded according to a textbook.
• A rule that worked--always buy two days down in an uptrend. You could have bought the market at the 768 area; and again, this week around the around 816 area.

At the moment:

• The market continues to make higher lows. The most important ingredient of a trend.
• The market found support on a dip three times. This indicates there are buyers below the market. This is necessary to raise confidence.
• Bears continue to try and sell the market. The big difference they are running for cover at the first sign of strength.
• The slope of the green line (midpoint, support) continues to point up and is strengthening.
• The blue line is picking up momentum and as long as this continues it will help propel the market higher,
• The market is once again approaching the red line (two standard deviations up) and this should be watched. Short term traders should resist the urge to buy the market when it is at, near, or above the red line. This is where nervous norvises really get killed.
• There is still substantial resistance from 850-875. This is where the market will likely wear out bulls who lack patience. They will get out and will likely start chasing it right into the top and before the next major test of the downside.
  

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Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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Top Hedge Fund Managers Make Billions in 2008

Systemic Risk Defined--Too Big to Fail

Ray Dalio on the current state of affairs in the market

Roubini Predicts U.S. Losses May Reach $3.6 Trillion

Option ARM--The Toxic Mortgage

Warren Buffett's Annual Letter to Investors (Cliff Notes Version)

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Get Your TARP Before it is Too Late

clipped from allamericaninvestor.blogspot.com Last one in is a rotten egg. I moved to Florida just before the run of monster hurricanes. I had to look on as shortage of tarps caused additional hardship. People with leaking roofs couldn't get tarps, so when it rained the water just poured through the roof causing additional damage. Now I find myself wondering if there are enough TARPs (Troubled Asset Relief Program) to go around. The Treasury Department has decided to extend bailout funds to a number of struggling life-insurance companies. It appears that if you own a bank holding company or a savings and loan, you are qualified for a TARP. Soon these insurance companies will be crying "pour mouth" because they aggressively sold variable rate annuities tied to the performance of the stock market. Sooner or later, the Treasury is going to run out of TARP. Reminds me of the saying--"last one in is a rotten egg".

S & P 500 Up 24.53 Percent in 20 Days (Chart)

clipped from allamericaninvestor.blogspot.com

Missouri Family avoids Foreclosure Keeps Cave

Curt and Deborah Sleeper had plans to auction their 15,000-square-foot home which is built inside a former limestone and sandstone cave.

Then along came John Demarest,

the founder and owner of Logical Source, Inc., a document managing company based in Fairfield, N.J., has offered the family a private mortgage contract consisting of a 15-year loan with a low interest rate.

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The news only gets better, the Sleepers are now planning to throw a cave party. Not in their cave, but in the cave of a friend.

Tom Kerr's cave has 5 million square feet and includes a 60-acre lake.

Mama mia. I bet you would like to see that cave--well you can. Tickets to the party are now on sale--15 bucks in advance online--or 20 bucks at the door. They plan to donate the proceeds to other families facing foreclosure. Good news all around.

UPDATE: Missouri Family Will Keep Cave
Cave Dwelling Family Can’t Refinance; Selling Home on eBay

Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

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• Systemic Risk Defined--Too Big to Fail


• Ray Dalio on the current state of affairs in the market


• Roubini Predicts U.S. Losses May Reach $3.6 Trillion


• Six Errors on the Path to the Financial Crisis


• Who Caused the Financial Crisis?


• Option ARM--The Toxic Mortgage


• Debt Binge--The Perfect Financial Storm


• Warren Buffett's Annual Letter to Investors (Cliff Notes Version)

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Mortgage Modification Plan--Making Homes Affordable

The Treasury Department released the guidelines of its mortgage modification today. The program will help up to 9 million homeowners avoid foreclosure. The guidelines will enable mortgage servicers to begin modifying mortgages right away. Please note: the Treasury program also includes incentives for removing second liens on loans.

You can follow this link,
Making Home Affordable , and find the links to self assessment questionnaires and contact information.

Or hit these links:

• Do I qualify for a Making Home Affordable refinance?
• Do I qualify for a Home Affordable Modification?

Here is the link to the main website Financial Stability.gov. The links below lead to the detailed information (PDF format):

• Summary of Guidelines
• Modification Program Guidelines
• Counselor Q&A
• Fact Sheet
• Borrower Q&A

Ok, you are good to go. Good luck. If you found this information helpful let us know.

Bob DeMarco is a citizen journalist, blogger, and Caregiver. In addition to being an experienced writer he taught at the University of Georgia , was an Associate Director and Limited Partner at Bear Stearns, was CEO of IP Group, and is a mentor. Bob currently resides in Delray Beach, FL where he cares for his mother, Dorothy, who suffers from Alzheimer's disease. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. His content has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

More from All American Investor

• Systemic Risk Defined--Too Big to Fail


• Ray Dalio on the current state of affairs in the market


• Roubini Predicts U.S. Losses May Reach $3.6 Trillion


• Six Errors on the Path to the Financial Crisis


• Who Caused the Financial Crisis?


• Option ARM--The Toxic Mortgage


• Debt Binge--The Perfect Financial Storm


• Warren Buffett's Annual Letter to Investors (Cliff Notes Version)

Bold Endeavors: How Our Government Built America, and Why It Must Rebuild Now

S and P 500 no longer Oversold

The S and P 500 is no longer oversold. The market should start finding support today under 685. The market does look a bit tired, so a one or two day rally would not be a surprise. By the same token, a market capitulation late this week and on Monday would not come as a surprise.

Coming up tonight. How to prepare and score big during a market capitulation

clipped from charts.barchart.com

All American Investor: S and P 500 no longer Oversold

Buffett admits sucking his thumb

During 2008 I did some dumb things in investments. I made at least one major mistake of commission and several lesser ones that also hurt. I will tell you more about these later. Furthermore, I made some errors of omission, sucking my thumb when new facts came in that should have caused me to re-examine my thinking and promptly take action.

All American Investor: Buffett admits sucking his thumb

Stock Market Crash--25 year look--Chart

clipped from efhutton.blogspot.com I want to issue a major note of caution here. The formation above could be signaling a market capitulation. Think about it like flushing a toilet. You know what goes down the toilet=, but then the bowl fills right back up. My guess is, if flushed it will be a great opportunity. Markets rarely capitulate, however, when everyone is looking for it. A look at this long term pattern shows that the market is extremely vulnerable. The fundamental news, especially the size of budget deficit continues to weigh on the market. The only question now is do we go down slow or fast.