China's economic slump may be over

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Who cares? All our jobs are over there now so I am not going to post and say anything good about China ever again. Do you think Apple will ever bring manufacturing back to the US? The answer is hell no! I watch The Shark Tank every week and all of them are incredulous if an inventor want to keep his idea in the US. First you have to offshore manufacturing to slave labor countries before you can make a profit or someone else will. Queenbee

Greg Smith Quit Goldman After ‘Unrealistic’ Pitch for $1M

Who is Greg Smith and why should I care? I thought ripping off clients was standard operating procedure at The Squid. QBGreg Smith, the former Goldman Sachs Group Inc. (GS) salesman who publicly accused the firm of ripping off its clients, was denied a raise and a promotion in the weeks before he resigned in March, documents provided by Goldman show.Smith, 33, told one of his managers in a December 2011 meeting that he expected to earn more than $1 million a year, about double what he was making at the time as an executive director inLondon, according to a summary of Goldman Sachs’s investigation into Smith’s claims. He also said in the meeting that he wasn’t advancing up the corporate ladder fast enough and expected to win the promotion to managing director he had repeatedly stated as a goal in self-evaluations.http://www.bloomberg.com/news/2012-10-18/greg-smith-quit-goldman-after-unrealistic-pitch-for-1m.htmlAnd here I thought we were getting more jobs according to the debate. I wonder how many new jobs were created in China, Mexico and SE Asia? QB

U.S. Jobless Claims Rise 46,000 on Seasonal Shift

More Americans than forecast filed applications for unemployment benefits last week, reflecting an unwinding of adjustments for seasonal swings at the start of a quarter. Now that is a shocker. QB
Jobless claims increased by 46,000 to 388,000 in the week ended Oct. 13 from a revised 342,000 the prior period that was the lowest since February 2008, Labor Department figures showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a rise in claims to 365,000.The typical pattern of large increases in unadjusted claims at the start of the quarter seems to have shifted by a week in one state, causing the adjusted data to become volatile, a Labor Department spokesman said as the figures were released to the press. Through the ups and downs, the level of firings has been little changed, indicating that a lack of hiring is the main reason payrolls have failed to strengthen.“When you get to the turn of a quarter, the seasonals jump a lot,” said Brian Jones, a senior U.S. economist at Societe Generale in New York, who projected claims would rise to 375,000. “The labor market is getting better, but at a glacial pace. Claims are going sideways.”Stock-index futures extended earlier losses after the report. The contract on the Standard & Poor’s 500 Index maturing in December dropped 0.2 percent to 1,453.6 at 8:48 a.m. in New York.

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http://www.bloomberg.com/news/2012-10-18/u-s-jobless-claims-rise-46-000-on-seasonal-shift.html