Suicide

Suicides Spike for long term unemployed

While listening to cable TV idiots prattle on about the wedge issue du jour, we have this:

There is no saying how many suicides the recession has caused.

During the Great Depression, the suicide rate increased about 20 percent, from 14 to 17 per 100,000 people. The Asian economic crisis in 1997 led to an estimated 10,400 additional suicides in Japan, Hong Kong and Korea, with suicides spiking more than 40 percent among some demographic groups. But such statistics can mislead, social scientists say. Joblessness does not cause suicide. Rather, it correlates: Depressed persons tend to lose their jobs due to poor work performance, and a few also commit suicide. Jobless people tend to turn to alcohol, worsening their depression, and increasing the chances that they harm themselves. Still, academic studies show that suicide rates tend to move with the unemployment rate. Researchers in New Zealand found that the unemployed were up to three times as likely to commit suicide, with middle-aged men the most likely.

So how many suicides are associated with the recession? Nobody knows, not yet. The statistics lag about three years, so the official Center for Disease Control numbers still predate the financial crisis. Right now, therefore, the reports remain anecdotal.

BoA Tells Investors to Bail Out of China Due To No More Slave Labor

Bank Of America, you know that corporation based in the United States, land of the free, home of the brave, is telling investors to sell because wages in China might have to rise.

Investors should sell shares of Chinese cement and metal companies as increases in labor costs will curb capital spending in those industries, according to BofA Merrill Lynch Global Research.

Seven Chinese provinces raised minimum wages in the first quarter after halting them last year amid the global recession, according to the Labor Ministry. Higher salaries may deter foreign investment in China, which has been a low-cost manufacturing base.

Astounding huh? The Yuan is still undervalued ranging up to 40%, yet the minute Chinese workers get anywhere with wages, investors should pull out.

Chinese Honda workers managed to get a 30% wage increase and 30 states increased the minimum wage by 15%. This amounts to $23.5 a month. That's a cocktail to investors. Suck it up!

I guess BoA just wants workers to continue committing suicide so as to not disturb ROI:

Freddie Mac CFO Commits Suicide

Ya know, the real culprits of trouble rarely commit suicide, they are usually too full of themselves, but regardless, this is yet another casualty of the ongoing economic mailaise:

David Kellermann, the acting chief financial officer of money-losing mortgage giant Freddie Mac was found dead at his home Wednesday morning in what police said was an apparent suicide.

It appears the SEC was investigating the accounting practices of Freddie.