XIAM007

Making Unique Observations in a Very Cluttered World

Wednesday, October 6, 2010

Food Stamp Recipients at Record 41.8M Americans in July, U.S. Says - as the jobless rate hovered near a 27-year high -

Food Stamp Recipients at Record 41.8M Americans in July, U.S. Says - as the jobless rate hovered near a 27-year high -






The number of Americans receiving food stamps rose to a record 41.8 million in July as thejobless rate hovered near a 27-year high, the government said.
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.4 percent from June, the U.S. Department of Agriculture said today in a statement on its website. Participation has set records for 20 straight months.
Unemployment in September may have reached 9.7 percent, according to a Bloomberg News survey of analysts in advance of the release of last month’s rate on Oct. 8. Unemployment was 9.6 percent in July, near levels last seen in 1983.
An average of 43.3 million people, more than an eighth of the population, will get food stamps each month in the year that began Oct. 1, according to White House estimates.

Insider Selling to Buying ratio this week has nearly DOUBLED, hitting a ridiculous 2,341 to 1 - $200M in stock last week -

Insider Selling to Buying ratio this week has nearly DOUBLED, hitting a ridiculous 2,341 to 1 - $200M in stock last week -  







Sorry kids, we just report the news... as ugly as they may be. After last week saw an insider selling to buying ratio of 1,411 to 1, this week the ratio has nearly doubled, hitting a ridiculous 2,341 to 1. And while Wall Street's liars and CNBC's clowns will have you throw all your money into "leading" techs like Oracle and Google, insiders in these names sold a combined $200 million in stock in the last week alone (following Oracle insider sales of $223 million in the prior week).Insiders can. not. wait. to. get. out. fast. enough. This Fed-induced rally is nothing short of a godsend for each and every corporate executive. But yes, there may be value: there was insider buying in 2 (two) companies last week: General Dynamics and Best Buy, for a whopping total of $177,064. At the same time sales were a total of $414 million: so is anyone wondering why JPMorgan is reopening its gold vault... Anyone left holding the bag on this market when the FRBNY props are taken away, will be left with the same return as all those investors who entrusted their money with Madoff. Guaranteed.


Read more - Credit to - http://www.zerohedge.com/article/insider-selling-buying-2341-1