Gross Says U.S. Nearing Recession as BlackRock Sees Fed Step
By Shamim Adam and Masaki Kondo - Jul 17, 2012 5:11 AM ET

   

Bill Gross, who runs the world’s largest mutual fund at Pacific Investment Management Co., said the U.S. is approaching a recession as BlackRock Inc. (BLK) expects the Federal Reserve to take more steps to support growth.

Five-year Treasury yields slid to a record 0.577 percent yesterday after an unexpected drop in U.S. retail sales rekindled speculation Fed Chairman Ben S. Bernanke will use testimony today to hint at further monetary easing. That followed data earlier this month showing American employers added fewer-than-estimated workers to payrolls. Goldman Sachs Group Inc. (GS) and Deutsche Bank AG cut forecasts for U.S. growth.
Enlarge image Pacific Investment Management Co. Fund Manager Bill Gross

Bill Gross, fund manager of Pacific Investment Management Co. Photographer: Scott Eells/Bloomberg
Zook, Girard on Economy, Markets, Strategy

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July 16 (Bloomberg) – Christopher Zook, chairman and chief investment officer at CAZ Investments, and Michelle Girard, senior U.S. economist at RBS Securities Inc., talk about the U.S. economy and markets, and investment strategy. They speak with Adam Johnson and Alix Steele on Bloomberg Television’s “Street Smart.” Neil Grossman, managing partner at TKNG Capital Partners, also speaks. (Source: Bloomberg)
U.S. Retail Sales Data `Troubling,' Stanley Says

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July 16 (Bloomberg) -- Stephen Stanley, chief economist at Pierpont Securities LLC, talks about U.S. retail sales in June and the outlook for the economy. He speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)

The U.S. is “approaching recession when measured by employment, retail sales, investment, and corporate profits,” Gross, who manages the $263 billion Pimco’s Total Return Fund (PTTRX), wrote on Twitter yesterday.

Ten-year Treasury yields added one basis point to 1.48 percent as of 4:11 p.m. in Singapore, compared with the all-time low of 1.44 percent reached June 1. The MSCI World Index (MXWO) of shares rose 0.2 percent.

Bernanke will present his semi-annual monetary policy report to lawmakers in the Senate and House of Representatives today and tomorrow. He said on June 20 that the central bank will be prepared to take more steps, including additional asset purchases, if the labor market doesn’t improve continuously.
Everything ‘Weaker’

Retail sales fell 0.5 percent in June, figures from the Commerce Department showed yesterday, exceeding the most pessimistic forecast in a Bloomberg News survey. U.S. employment increased 80,000 last month, according to a Labor Department report, trailing the 100,000 increase projected by economists.

“Pretty much everything is way weaker,” Ewen Cameron Watt, chief investment strategist at the BlackRock Investment Institute, told reporters today in a teleconference from London. “There will be some more action from the Federal Reserve, but not probably dramatic action in a sense of massive stimulus.”

The Fed bought $2.3 trillion of bonds in two rounds of so- called quantitative easing from 2008 to 2011, seeking to cap borrowing costs and bolster the economy. Last month, it expanded the program known as Operation Twist that replaces short-term Treasuries in its portfolio with longer-term debt.

With U.S. debt yielding nears record lows, Treasuries are “already expensive,” Cameron-Watt said. The securities have returned 5.2 percent this year on an annualized basis, which would be the smallest yearly gain since 2009, according to a Bank of America Merrill Lynch index.
Goldman Forecast

A cooling job market is sapping household spending that makes up 70 percent of the economy, curbing sales at retailers such as Target Corp. (TGT) and Macy’s Inc. Fed Bank of Kansas City President Esther George said yesterday the U.S. economy probably won’t grow much faster than 2 percent in 2012.

Goldman Sachs analysts led by Jan Hatzius cut their estimate for second-quarter economic growth to 1.1 percent from 1.3 percent, while Deutsche Bank chief U.S economist, Joseph LaVorgna, reduced his forecast to 1 percent from 1.4 percent.

“The sharp downward momentum in the economy” increases the probability of further Fed easing either in the form of another round of quantitative easing or other nonconventional measures, LaVorgna wrote in a note yesterday. “We need a couple of more weak employment reports, with figures near zero and with the unemployment rate increasing, for the Fed to undertake easing action.”

I can understand rates established providers charge. What I do not understand are the rates new providers are charging. The magic # seems to start at $$$$$. That much for an unknown is out of control. Lets stop the insanity. Be reasonable.

It would be nice if every once in awhile we might see a discounted rate. Especially in these economic times.

People must learn, that not ever guy who sees girls cares to use the boards. For the percentage of hobbyist on the board are the same traffic you receive from ones not on them.

Tell a girl to discount a rate when (if) she stays at a 4/5 Star place can be $$$$+ a night alone.
Like i tell hobbyist who ask for discounts "Pay for my room nightly & ill give you a session for 100" Economic times everywhere. Stop thinking providers don't have family, have to eat, live and have expenses they tend to also. You make a living at a perhr rate that suits you and providers do the same. Just because you see $$$$$ doesnt mean that theres not a way of living that they have to attend to behind it.

you mean interest rates and yes the Fed should decrease them, also a bit of quantitative easing would not hurt (another way of saying "hey Fed-print some damn money")..

You fellas fail to realize the expenses providers have, and take into account for (travel costs, hotels, childcare, etc..)


Masturbation is free & safe!  Try that until you can stack your chips, and spurge on a delightful treat!

We pay our own health insurance, too.  There is no union or 401Ks.  We also have a lot of expenses which you all appreciate like our expensive lingerie, shoes and our grooming like waxings, hair, nails and dont forget the little extras we throw in like alcohol, and condoms.  Stuff doesn't grown on trees.  It all adds up.  Especially travel, hotels, airfare, etc.

emma
very well written and, "pragmatic' reply - and, from your very appropriate and experienced comments, we all make adjustments, if there is an incentive to do so. Your thoughts are thoroughly fair, correct and realistic.
Sorry for the rain. It is nearly 100 degrees here today.

the very high and alot in between. If you see something you like and want it badly enough, then pay the donation and don't be belly aching about it. If it's too high for your budget, find yourself a less expensive escort. There are many lovely escorts out there to fit every man's budget. Find one that fits yours. Yes, there is a recession going on, but last time I checked, my overhead remains the same, my expenses are the same, so offering huge discounts won't pay my bills. If you want to play, you have to pay- it's as simple as that. When I can't afford Lord and Taylors, I shop at TJ Maxx and don't go into more expensive stores complaining how expensive their merchandise is.

Stay safe everyone and have fun!
Hugs,
Bobbi

Then you can charge any rate you consider fair, offer discounts and run your specials.

be sure to get back to us with advise once you actually know what it is you are talking about

Lina

...... Romeo Knight's pics with his shirt off made my vagina...erm heart flutter lol.

Can't promise him .. but have some ideas

Lina

Awwwww ..... i'm in Hartford until next monday coming lol.
I'm shooting for some kind of visit to NYC before aug is over though .... hold those thoughts as long as you can! lmao

My ATF of 3 years puts up with all my shit.

I'm haughty, egotistical, arrogant, jealous, manipulative, etc..

I'm married to someone who isn't emotionally capable anymore; I'm under a shitload of job stress and am constantly juggling a million things. I'm carving my nitch tooth and nail.

Not only does she fuck the living daylights out of me, she deals with my tsunami-esque moods, she's my confidante, and see's through all my shit and grounds me like no other.

IOW she rocks and more than deserves what I give her.

what a fuckaliciousably fuckable man you are...YummY

If you think that women are supposed to lower their rates in a recession, you're nuts.  As a guy who works in the capital markets and has read this story before, I will say this:

Women can charge whatever they want (the offer).  We as hobbyists can pay whatever we want (the bid).  The only time a transaction occurs is when one meets the other.  Other than that, it's just offers and bids.

And pussy isn't a necessity.  Or, more accurately, PAID pussy is not a necessity.

With all the bloviating on this topic, those four words sum it up best! Bravo Devin!

the rest of our lives tryin to get back in!

Love it, we pay our own health insurance and dont have a 401K. Hell, start paying taxes on your full cash biz and I will pay for your medical insurance.

ladies, its the cost of doing biz, travel, room, board.  No one cares about your famlies, pensions, 401K's, medical insurance.

To repeat you pay no income taxes and that saves you 40-50% of your income.  pay your expenses out of that!

Most people do not lower their prices in recessions...usually you end up with less customers or more competition, but lower prices usually just means less income.  Will the complainer offer to increase his fee if the economy improves?  I know what I make per hour and I can say a good provider works harder, has more risks, and is much prettier than me!   And a note to that guy, he can always just jerk-off while on the Internet.....    Anyway, here's to free enterprise!

Nothing more than that... Some of us are in it for a little more than "A buck a fuck."

Call me old fashioned. I adore my goumada.

wasn't trying to tease you, but recall you weren't planning another US trip, to NYC area anytime soon. Hope the summer arrrives for you and, luv your posts. You are very thoughful and it shows.

I read all of the comments and I get where both sides are coming from.  Yes the economy is in a state of suckiness and in times like these, its not crazy to expect that prices would/should come down to meet a lull in demand.  On the other hand there is no doubt that the ladies have legit expenses (for both hobby and life) and as the holder of the goods, ultimately it is up to them to set the price where they want it.

So my suggestion is instead of fighting for a price reduction, why not think or have a discussion about extending the time.  In other words, buy an hour at your regular price, get an extra 20-30 minutes.  Extra time does not cost a single penny (unless a woman is seeing some many clients a day that the additional time would take away a session.  But if that is the case, she doesn't have any demand issues so she's going to charge whatever the hell she wants).  But with some added time, the girl will still get the coin she needs and the guy will feel like he is getting a little added something.  

Also, the additional time should allow for a more relaxed session and perhaps the opportunity to get to know someone a little better rather than rush like crazy to try to get a 2nd pop under the hour in order to leave enough time to take :30 second shower.  If a greater connection is forged, the more likely he will return and the more likely she'll want him as a regular.

As for me, I have my list of regular girls that I have been sticking with but I also have over 100 girls I follow on TER.  If some of those ladies started to offer a bonus 20 or 30 minutes, I would be much more inclined to dip my toe and start to expand my horizons more often.

A lot of providers pay taxes - that is how we can save for a house, get car loans, etc. I personally have another business. If I get audited and the IRS sees unexplained cash deposits ...well, then I am down the shitter! Not all providers live under a bridge and are on the fringes of society. A lot of us have 'normal' jobs, families, and yes, pay taxes just like everyone else!

Also, remember that we have a limited time to do this work. So it's not like a traditional job in which you save over a period of decades for retirement and qualify for a pension. When the money stops, it's OVER for us (except for a special few people).

Tell providers what to charge when you go on Eros, like Lina said!

You'll be amazed how many ladies DO pay taxes.

Lord its 2012, love theres ways around EVERYTHING.

Box of Surgical gloves- 10$
Bottle of baby Oil- 5$
Roll Of Bounty- 3$
Spare time , due to not telling people how to operate their business- 0$
Surfing Youporn for content- 0$
Making love to Rosy and her five sisters- Priceless

There you go , all in all done for under 20$

I do pay just as most of us do - so when do you start paying my health care.  You sound like a complete penny pinching AH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!  Does that mean all bar and restaurant or anyone with a cash business cheats the government.  I think you need a real life.  No one care you cant afford your hobby - go cry to someone who cares.  We are not sympathetic to your casue as you can see man nor woman.  I think I hear the violins playing.

On the Rent is too damn high platform?

Is when the two meet.  No one says a provider has to offer herself at some arbitrary rate that hobbyists "set."  Who says a provider has to be at the market rate?  She can just see one person a month at that rate.

No one is putting a gun to your head or hers to fuck for a price.  It's free enterprise and the free market.

My bodyrub budget is obviously better than my escort budget.  $500/hour is a tough nut to swing at times, if you want to see a girl every week.

Now, for me, bodyrub is a lot easier of a nut to swing, but I like DATY.  So I have proposed to some providers the idea of doing a bodyrub/DATY session for less, and surprisingly some of them are open to it.

Not every provider is gonna be cool with that, but if you are nice and respectful, chances are good that the worst she can say is no.

amen