Weekly Unemployment Claims
Submitted by
CalculatedRisk on Thu, 07/30/2009 - 4:46am (110 comments)
in
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Nemo!
(I have a 3 hour and 3K mile advantage...)
CR - you're up early and posting late.... Do you take a siesta?
Forget the moon! We're going to Mars baby! We're all bubble-heads now.
oh, and I forgot to add "watch out for that first step, it's a doozy"...
Next week's numbers will include my wife and others from her work place. They will apply for unemployment after not being payed for 10 months.
As the market moon-shoots, Obama's approval numbers tank. He will be the whipping boy for the Bernanke/Geithner wall street reflation plan. This will all blow up badly at some point in time.
Regarding the AZ statehouse, perhaps it'd be better if they only rented the main hall occasionally and did most of their meetings and votes by telecommuting. Roberts rules of order would make the online meetings quite efficient and viewable to anybody interested.
Wow, she worked 10 months for free. Why?
These are only people that held steady employment for a year or more right?
The advance number for seasonally adjusted insured unemployment during the week ending July 18 was 6,197,000, a decrease of 54,000 from the preceding week's revised level of 6,251,000.
Is this a reflection of the exhaustion rate?
All the talk of bubbles and rallies, I assume the futures are up?
ee - is that already showing up in the numbers? we all know its coming but it seems like they keep extending benefits...
........
OT but kinda ubernerdy (lightweight compared to T tho) so I thought I'd post it. JJJ wrote a pretty post on treasury actions... Across the Curve » Blog Archive » Auction Results: Less Than Festive enjoy!
How do you square the constant loss of jobs with a pickup in home building? Seems like fewer people with jobs equates to fewer people owning houses.
"Wow, she worked 10 months for free. Why?"
Because they were naive enough to believe that the hundreds of thousands of options being poured on them every month for working free was actually worth something.
REBar - what field if i can ask?
It appears that initial weekly claims have peaked for this cycle.
Give it 6 months until the next dip in our 'W' shaped ride begins.
Extended Unenjoyment Compensation (EUC) claims rose 24K (Note: the data lags a few weeks).
ETA Press Release: Unemployment Insurance Weekly Claims
Report
Including EUC, just under 9 million are receiving jobless benefits. In keeping with the gov't mandated "cheery only" eCONomic propaganda, I won't mention that almost 11% of Americans receive food stamps.
Maybe it's time we retire the "jobless" expansion mantra. The last cycle wasn't just "jobless" it actually created "less" jobs. If we had a proper money system, that would be a good thing.
Comrade Scott (profile) wrote on Thu, 7/30/2009 - 7:25 am
@BlackHalo (and @HomeDad43)
I suspect that we will see a resurgence in popularity of public schools when the opt-out costs get too high. Buh-bye self-segregation academies. I also predict that we will see a shocking thing: improving PS statistics/metrics. So much of what ails the public schools is classic adverse selection. When the top half stops self selecting out, scores will improve.
The elites will not like this! How ever will we survive without the pressing need to spend exhorbitant amounts of money to ensure children get into the right schools and live in the right neighborhoods, made up of the right kind of people, just to ensure they get a decent shot at an education (and the chance for a slot among the ruling caste)?
Nades,
EE (Embedded systems)
When I saw the futures way up, I assumed the initials claims must have come in way below estimates. Imagine my surprise why I checked and saw them at 584k. Another in a series of WTH moments.
@ ac: there's still an awful lot of people that fail to understand that correlation.
Motorola up like 10% in the premarket on the following: MarketWatch.com...
"In the period ended June 30, Motorola reported net income of $26 million, or 1 cent a share, compared with a profit of $4 million, or breakeven, in the same 2008 quarter.
Revenue fell 32% to $5.5 billion from a year earlier, though it rose slightly from the first quarter.
Motorola was expected to lose 5 cents a share on $5.6 billion in sales, according to the consensus of analysts compiled by FactSet Research. "
Sales down 32%, stock jumps, Whoopee!!!!
On the other hand, thing "may" be looking better East of here:
New Overnight Developments Abroad: Sharp Rise in European Confidence « CurrencyThoughts
Does this imply the market tanks? Probably not-
TOT alert
So, how does Google do street view?
Tiny flying cameras?
I'm sure someone here knows the answer......
Jerry,
I don't know if we have six months left. Liz has been saying end of September or October...I think once the summer euphoria wears off, the reality of fall will set in. When the first signs of pumping up the markets started in the spring, I knew the party had been postponed to the fall or winter. I don't think we can make it at this rate to winter, so put we in the October camp. For the record, I have been completely wrong on all my economic forecasts so far, I am no great prognosticator of markets.
How do you square the constant loss of jobs with a pickup in home building? Seems like fewer people with jobs equates to fewer people owning houses.
Wrong. We changed the playbook years ago. Inflation will only accrue to systemically important individuals. And the systemically important inflation gatherers will own many, many homes.
Will there be CPI inflation? No, lack of jobs and income will prevent CPI inflation. Inflation will only occur in systemically important places and sectors like the stock market, Manhattan flats and Hamptons summer retreats. But we won't call it inflation, we will call it asset "appreciation".
It's all taken care of.
justaskin,
I think it's a car fitted with a video camera on the top. You can see the reflection of the car as it passes other vehicles.
NY has brainstormed a novel approach to removing the homeless. What's next, an Obama recovery plan to end unemployment stats with a one-way ticket outta the USA?
From ajc.com: NYC to ship homeless out to destination of choice
Some homeless families in New York may be leaving on a midnight plane to Georgia under a program to ease that city’s financial burden in caring for them.
The Big Apple is offering homeless families a one-way plane ticket out of New York to the destination of their choice, as long as a family member agrees to take them in. The program aims to keep the homeless out of New York’s shelter system, which costs upwards of $36,000 a year per family. More than 550 families who otherwise couldn’t afford to return home have left New York since 2007.
New York City officials said families have been sent to 24 states and five continents so far, mostly to Georgia, Florida, the Carolinas and Puerto Rico.
HFFP = high frequency flash posting. First Nemo, now Nades. It's out of hand.
CR, we have to sqeeze the privilege out of the posting board. Seriously, how can computer dolt like me ever compete?
HFFP must end!
Political compass score: Econ, -4.38; Social, -7.59
justaskin / REBear
There's a video out there somewhere of the car with the camera hitting a deer.
More cliff diving in revenues
Federal-Mogul - Revenues down 35%
Kodak - down 27%
Cummins sales down 37%
Futures continue to soar. Wow.
Nades--
The headline figure only includes state benefits; it doesn't include extended benefits since that's a federal program. Extended benefits are reported later in the press release, but those reports are two weeks behind so the figures are for the week of July 11: 2,656,879, up from 2,632,361 the prior week.
Angry Saver (profile) wrote on Thu, 7/30/2009 - 9:21 am
HFFP = high frequency flash posting. First Nemo, now Nades. It's out of hand.
CR, we have to sqeeze the privilege out of the posting board. Seriously, how can computer dolt like me ever compete?
HFFP must end!
For some reason when I mouse-over Nemo in this post I get the entry for Nemo from the Glossary, but when I do it in the first post in this thread, it just says "First"?! Any ideas why?
There is something wrong with this picture? Look at the last sentence!
09:15 am : S&P futures vs fair value: +12.60. Nasdaq futures vs fair value: +18.30. Stocks look to be headed higher this session, thanks to the emergence of buyers in premarket trade. That isn't to say buyers had disappeared in recent sessions. In fact, an underlying, supportive bid has helped limit losses so that the stock market is down just 0.4% week-to-date. That's of little consequence alone, but especially so when one considers that the stock market gained more than 10% during the course of the previous two weeks. Such a strong upturn in such a short amount of time has many anticipating a pullback, but we expect dips to remain shallow since idle money continues to look for opportunities to come in from the sidelines. Still, this morning's assumed advance is expected to be broad-based as a raft of companies report better-than-expected quarterly results. The announcements continue to be headlined by upside earnings surprises, but demand remains considerably weak.
Market Overview - Yahoo
Yalt - thanks I'll check it out now....
............
justaskin - REBear is right its several cameras on a truck / car that drives around. When it first came out there were actually a few blogs that caught people naked in their windows / coming out of peep shows / picking their noses and a few thongs... Google it...
................
REBear - is there any recourse? (I really doubt it but thought I'd ask....)
....................
AS you just got to get up early in the morning!
I took C++ once in college.... Knew computers werent for me right then and there on the first day of class.... 
..........................
Cinco-X there are two entries for Nemo IIRC and it looks like Ken was clever enough to code it so that the first Nemo on the page only reads as first... Its also the first entry in the glossary which I think is kinda funny too.... LOL!
any one know if the people that Harley-davison Fired will get unemployment benefits?
that is harley-davidson.
thank you,thank you so much.
The exhaustion rate - where the "unexpected drop" in folks on the UE rolls comes from...to pull up the chart for the Exhaustion Rate, select series 8 and then set the dates to the desired range and click submit.
Unemployment Insurance Chartbook
rps:
I've heard stories about how the mafia used to do this back in the "good old days" of Las Vegas. I'd also heard that a certain church headquartered in Salt Lake City used to remove unsightly people from their city that way. It is a remarkably clean city, though now there is a homeless shelter...
Recently, in Austin, I have heard complaints from police officers that other cities (Dallas, San Antonio, Houston) are putting vagrants on busses to send them here - at least there is a high number of those vagrants who commit crimes and say that they were put on busses by the police forces in those other cities.
Also, Japan (I believe) recently started doing this and is "returning" all the Latin American workers they imported.
nades, sleep? What is that ...
best to all
Cinco-X:
There is an invisible ASCII character in front of one of the entries for Nemo (and some of the occurences) so if you copy/paste the proper ones (or know the right keyboard sequence to make that character) you can get the desired entry to show up.
The market is controlled by a small number of participants....futures markets even smaller.
It's so bad that, even with today's "earnings" reports they still push the "up" button and claim it was because of these reports. Be aware it's not because of these wonderful (revenue and sales dropping off a cliff) earnings reports. It's totally in spite of them.
Ciao
MS
LOL!
As always thanks for the hard work.... Cheers!
we expect dips to remain shallow since idle money continues to look for opportunities to come in from the sidelines
I'll ask again--WTF is "idle money"? Unless you've found a way to sell a stock to nobody at all, when one person moves to the "sidelines" somebody else has entered the game.
This kind of analysis seems to me to be trolling for bagholders, not an attempt at description or understanding.
REBear, sorry about the situation of your wife.
The Incredible Mr. Market Magician approaches the stage...while the silent awe-struck crowd looks with wonder, he places his hand in his magic hat...the trick...can he pull out a green frog named Kermit holding an S&P 1000 ticker tape in his mouth. Oh, the suspense!
nades (homepage, profile) wrote on Thu, 7/30/2009 - 9:31 am
Cinco-X there are two entries for Nemo IIRC and it looks like Ken was clever enough to code it so that the first Nemo on the page only reads as first... Its also the first entry in the glossary which I think is kinda funny too.... LOL!
Agreed, but I only see one entry in the Glossary !?
Edit: Oops! shoud've read the rest of the entries.....
At the same charting site for the DOL, select series 10 and set the dates from 1950 to 2009 and click submit, then examine the two graphs. The upper graph is the % of Total Unemployed over 27 weeks UE, while the lower graph is the U-3 Unemployment Rate...
Unemployment Insurance Chartbook
I look forward to seeing the data on hours worked. Here in Florida my daugters summer hours are continuing to be cut to meet non existant demand. I heard a sales associate in a local bookstore make the same complaint. Jobs may not be disapearing as fast but payroll hours are drastically down. Tourism has to be in the toilet. It has been raining here for months. Thundershowers all day long not just in the late afternoon.
I'll ask again--WTF is "idle money"?
Yalt,
I can think of at least one instance where the "money on the sidelines" argument actually has some merit:
Idle money is money that risk averse losers keep in unleveraged and low risk assets as opposed to leveraging said money at 10:1 and buying equities, options or commodity futures contracts (which are themselve leveraged).
Go forth and multiply.
Eventually tariffs will be suggested and free trade will be seen as the enemy--history repeats.
CalculatedRisk (profile) wrote on Thu, 7/30/2009 - 6:32 am
nades, sleep? What is that ...
best to all
It's a meatspace thing. Don't worry about it.
nades,
Nothing. Now they are being told that employees won't get a cut from the sale of intellectual property. Something about secured debt holders hogging it all up.
iceman,
I wish things had worked out. They learnt their lesson the hard way.
Mel (profile) wrote on Thu, 7/30/2009 - 6:43 am
Eventually tariffs will be suggested and free trade will be seen as the enemy--history repeats.
Europeans have already imposed tariffs on Chinese steel in anticipation of their dumping. Says two very troublesome things very loudly.
That makes sense: as markets rise the total market capitalization increases and the increase can be used for margin borrowing, thus increasing the supply of money. So unborrowed but available margin could be thought of as "money on the sidelines".
But it's exactly the opposite of the way the phrase is usually used--it's usually invoked when the market or a particular sector has had a decline.
rob dawg
one that they are scared? whAts the other one,havent had my coffee yet working on first cup.
@billwilson
The Kodak numbers are no great surprise, but the Federal-Mogul and Cummins....well, that's kind of like oil inventories....the "recovery" will be flatline.
gabyjan, two there's a mother of all commodities upheavals coming.
Upon much hand wringing and despite many fundamental reasons to not do it I have finally clocked out of FAZ upon the open. It's not your friend (as I've said before) my decision had more to do with not being willing to wait for something that is essentially never going to happen. More of a personal decision though. What clinched it for me is the BS about forcing cram-downs through the system-yet again. Face it, that's never going to happen because if it did you'd have to mark almost the entire banking system at or near 0.
How likely is that? Not much... Sure I took a hit but that's the price you pay. I will be around for another day.....I
Ciao
MS
gabyjan (profile) wrote on Thu, 7/30/2009 - 9:51 am
rob dawg
one that they are scared? whAts the other one,havent had my coffee yet working on first cup.
Ooh!Ooh! I know this one: The Chinese have an over supply of steel
But it's exactly the opposite of the way the phrase is usually used--it's usually invoked when the market or a particular sector has had a decline.
Yalt,
It's really hard for the mind to let go of the notion of tangible money or value. That notion was valid under a gold standard, but is certainly suspect today. In a credit based system, a simple rule change (FASB 157) or central bank action can reset the board.
"Hi everybody, and a very pleasant day to you, wherever you may be." ............OK.....A little trivia - Who knows whose greeting that is?
Paul Harvey?
And now you know...the rest of the story.
This market is going to end up almost +200 for the day IMO. GDP report notwithstanding...it was obvious to me with the futures ramp this morning.
Ciao
MS
Sorry if this is redundant......
“Initial claims are still trending lower, which does suggest some improvement in conditions,” said Michelle Meyer, an economist at Barclays Capital Inc. in New York, which had forecast claims would increase to 585,000. “What we are seeing is less firing.”
.....ahh, no, Michelle, what we are seeing, is people falling off the backside of the unemployment stats wagon...............idiot.
I don't think the gold standard is the issue here. More than 90% of the money in circulation would be credit-based even if the currency were backed. (I hope I've got this figure right....)
Angry Saver, I just wiki'd Harvey and didn't realize that his father had been murdered when Harvey was 3.
Now we know the rest of that story.
MS,
I guess this is what happens when you hand trillions to banks in a casino eCONomy.
Vin Sculley......the voice of the Dodgers for 60-years......he usually has to say "EVENING" though with the recent proliferation of night games.
geeceemmm/REBear/nades,
yeah, what I thought....ask the "average" person and I bet they say---"Satellite, dummy"
wonder what that gig paid?
People falling off the backside of the unemployment stats wagon would reduce total claims but not initial claims...as far as it goes, what she says is true. We're seeing less firing.
Yalt, you're right - as is she....I'M the IDIOT.......I'll get it.....having my first cup now....after spilling a big can of milk.
The continuing claims numbers are a bit distorted and one should add the EUC and the extended benefits to the cc numbers (or am I double counting if I do that, the report is not very clear on that point). While regular cc fell 54k, the EUC were up by 25k. Also why are people falling off cc, for the "right" reason of finding a new job. In which case this is very good news, or for the "wrong reason" of the claims simply running out. In that case we are talking about an increase in poverty. Given the huge increase we have seen in the median duration of unemployment recently (17.9 weeks in June, up from 10.3 weeks in January) I suspect continuing claims are falling for the "wrong" reason.
Got to figure....
5 year auction failed yesterday, but still have a 7 year today. So...ramp up the market, keep the Euro and gold down, and presto, there may be a bid for the 7 year.
Really strange to see the disconnect on the Euro and gold Vs. S&P and oil today. These 4 have been trading almost tick for tick the last few months. Something is up
BSR,
Though in all fairness to you, the "unexpected" part of the decline in total claims is a crock...you pick the contents.
Shell profits down 70%, BP down more than 50%...
Royal Dutch Shell boss Peter Voser this morning warned the company would undergo a "massive" restructuring this year that would lead to substantial job cuts, as the oil company said it was contending with the steepest decline in demand for energy since 1980.
The Anglo-Dutch firm, reporting a 70% fall in quarterly profits said it was "not banking on a quick recovery" and that the industry outlook remained challenging despite the increase in oil prices in recent months.
Similarly, rival BP reported on Tuesday that profits more than halved to $3.14bn between April and June, and warned that the recovery would be "long and drawn out". BP has cut its costs by $2bn and pledged to slice another $1bn off costs by the end of the year."
From the Guardian, this morning.
We are seeing less firing. There are enough datums to be significant beyond seasonality and uncertainty. What we forget is that 350k initial claims is too high for a stable economy. At this rate of decrease (second derivative) it will be another six months before we stop adding to the unemployed. And considering that even the most ebullient cheerleaders are predicting anemic recoveries (plural) it will be two years before we see even this level of employment again.
Tomorrow's GDP is going to be a whopper...why would they let all this momentum fade?
Either that or this is space they are creating to drop into while still remaining above the psychological 9k level.
Ciao
MS
I usually have a rule never to post a comment until I'm at least halfway through my first cup. I'm having to break it this morning, though, because this bloody hotel has one of these one-cup-pod coffeemakers in the room and there's no way to brew the coffee I brought. The brown water coming out of the machine doesn't seem to have any caffeine at all.
Houston, we are going to have a problem...
UE is just a rough indicator. The ones who fall off are the real point of interest to me. Are they in new jobs at a lower wage/benefits package. Are they working more or less hours. Bottom line is do they have equal or less spending power.
I vote whopper...just seems to be the way they are playing the game, "the big lie" etc.
Yalt-
Take the packets (I'm assuming that it's the pre-packaged kind) and make a cut across the top of it. Empty the sawdust, I mean coffee, contained in that package and then replace it with your's. Fold over the corner and then put it back into the "pod". I do this all the time...you might get some grounds in your cup but anything is better than the brown tasteless water you're going to get.
Ciao
MS
Dirk van Dijk (profile) wrote on Thu, 7/30/2009 - 9:05 am
The continuing claims numbers are a bit distorted and one should add the EUC and the extended benefits to the cc numbers (or am I double counting if I do that, the report is not very clear on that point). While regular cc fell 54k, the EUC were up by 25k. Also why are people falling off cc, for the "right" reason of finding a new job. In which case this is very good news, or for the "wrong reason" of the claims simply running out. In that case we are talking about an increase in poverty. Given the huge increase we have seen in the median duration of unemployment recently (17.9 weeks in June, up from 10.3 weeks in January) I suspect continuing claims are falling for the "wrong" reason.
It will be interesting to see what sorts of schemes are cooked up to hide the coming grim reality of unemployment from the public. The realities of -- lower wages, fewer hours, underemployment, discouraged workers and the long-term unemployed... I'm sure they're inventing adjustments and new metrics as we speak
You're not double counting, Dirk--the problem is that the EUC and extended benefits numbers are two weeks older than the cc numbers. Given what was happening six months ago, I have a hunch the July 25 EUC numbers will be worse than this and there may not be a decline in total benefits at all.
For those of us (like me) who missed this yesterday.......... It makes you wonder how much of the 7's they will purchase today?
Federal Reserve Bank of New York - Permanent Open Market Operations
energy-
that' the real rub because they will put it out in a way that creates "up" which is in total contrast to the Beige Book. I'm thinking that the BB release was yet another *uck the shorts planned game.
Ciao
MS
juicing the stock market for continued financialization of US economy is not sustainable after all the systemic damage....
"From 1973 to 1985, the financial sector never earned more than 16 percent of domestic corporate profits. In 1986, that figure reached 19 percent. In the 1990s, it oscillated between 21 percent and 30 percent, higher than it had ever been in the postwar period. This decade, it reached 41 percent". - Simon Johnson The Quiet Coup
at least Robert Reich is honest....The X marks a brand new track -- a new economy. What will it look like? Nobody knows. All we know is the current economy can't "recover" because it can't go back to where it was before the crash. So instead of asking when the recovery will start, we should be asking when and how the new economy will begin. More on this to come.
piling on to a comment someone made here a few days back about BB and his instance on referencing the stock market.
shooting the shit with some coworkers yesterday, and one exclaimed "the recession is over, things are turning around"
i asked "why do you say that"?
the response:
"look at how much the stock market is up"
i pressed him: "why does the stock market being up mean the economy is doing better?"
he couldnt answer
i continued: "unemployment is still sky high, and industrial utilization is ~ 65%, a post WW2 low....rail car loadings are down ~30% YOY, and 12 months ago we were already in a recession. so how does the stock market being up mean the economy is recovering?"
silence.
topic changes to reality tv shows
Thanks, MS, I'll give it a try. I'm also going to see if I can fold a 4-cup filter into a shape that will fit the pod.
Industrial utilization being at a post WWII low would generally be a sign of a bottom.
I was going to suggest either that or at worst try a paper towel......
"100 % Arabica" eh?
Ciao
MS
bottom != recovery
"topic changes to reality tv shows"
The only thing they can talk about with intelligence.
not a friend-
Those are different then the auctions.....Those are outright coupon purchases that no one else is buying. It makes up the second half of "we are not monetizing the debt".
What you're going to see is (with today's 7 year) another bid-to-cover ration under 2 and the bulk of the indirect bids (i.e. The fed) being accepted at the low end of the issued yield.
Even if they sold so few that the actual sale was an unmitigated failure it would be seen as a success because they would say..."well some of them were bought.....etc"
Ciao
MS
I've been reading Giovanni Arrighi recently--he argues that financialization, and a desperate struggle to keep the value of financial assets high after they're no longer supported by the non-financial economy, has been the endgame of each capitalist regime from the Genoese through the Dutch to the British. He thinks it's a sign of transition to a new center of economic power, which he predicts will be East Asia.
It's worth noting that he's been saying this for at least a decade or so, before the current crisis was clearly visible to most.
Now off to see about a trip to Monza in September...gotta go see Schumi show Kimi how to be a professional.
Ciao
MS
Termination of employment - Wikipedia, the free encyclopedia
y'all firing and laid off are Not the same thing!
I've been reading Giovanni Arrighi recently--he argues that financialization, and a desperate struggle to keep the value of financial assets high after they're no longer supported by the non-financial economy, has been the endgame of each capitalist regime from the Genoese through the Dutch to the British. He thinks it's a sign of transition to a new center of economic power, which he predicts will be East Asia.
This can probably be generalized to any means of control and power as it develops and then declines.
Control in many ways depends on beliefs and illusions, and as they start to vanish the power is lost. In this case assets are the mechanism.
But it's not so different than say what happened to the power of the catholic church and it's ultimate from being an empire to merely being an institution.
The endgame in these kinds of transitions always seems to be accompanied by the same denials and desperate attempts to preserve power by desperately trying to establish the faltering mechanisms of control.
this 40% number is no longer tenable
Why not? So long as the profits of all non-financial corporations shrink drastically (didn't the S&P 500 have negative earnings, in aggregate?), the financial sector's percentage can continue to grow. Even 100% could be (temporarily) exceeded so long as the earnings of all non-financial corporations were on average negative. It's enough to make me want the physiocrats to rise from the grave.
Yahoo! 404 - Page Not Found
@ bbartlog (profile) wrote on Thu, 7/30/2009 - 7:32 am
this 40% number is no longer tenable
Why not?
1) The US economy dependencies on rackets, that is, behavior geared to getting something for nothing.
Dirk, I take back most of the Pollyanna thoughts I had about you.....good honest piece.
energyecon
sorry it should be: HOUSTON WE HAVE A PROBLEM!!
BSR, I try to avoid being either a Cassandra or a Pollyana, just go where I see the data taking me. Dont always succeed, but that is what I try to do.
The Golden Truth, courtesy of Andy "in Denver:"
The Golden Truth: Got Gold?
How do the ~80K people waiting for a hearing on denied unemployment benefits in Cali fit in to the numbers? LA Times article this morning. Judges blaming furloughs. Arnie blaming judges/unions.
and yet the market still rallies...nuts... whatever
good articles 4 slow news day: Interesting Finance & Economic articles
I bet Clear Creek and Cripple Creek are busy with newbies!