• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Double Dip Picking Up: Jobless Claims Spike To 472,000, On Expectations Of 455,000

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Thu, 07/01/2010 - 08:43 | 446050 homersimpson
homersimpson's picture

My job at the nuclear factory is safe for now but please teach me to hit the "any" key..!

Thu, 07/01/2010 - 09:44 | 446176 Hungry For Knowledge
Hungry For Knowledge's picture

Goldman's 150,000 positive number is really only the bogus "birth/death" model increase, which assumes that "magically" 150,000 jobs "born" in June.  Know anyone who is building a business?  Me either. 

Thu, 07/01/2010 - 10:15 | 446223 traderjoe
traderjoe's picture

The Birth/Death model is a complete absurdity. Not only are those businesses not being born (that's part two of the model), but if they call a business and there's no response, they still count the jobs as of the last survey. So, even if the business closes, the jobs are still counted. And while you can snicker at the B/D adds from the birth part on the BLS website (they only present non-season numbers, so you can't add them to the seasonal headline), there's no way to tell what the deaths assumed away are. Even after the massive benchmark revisions, they actually amped up the B/D for 2010 v. 2009. 

Thu, 07/01/2010 - 10:22 | 446243 MilleniumJane
MilleniumJane's picture

Heh...in the town I live in, small businesses are dropping like flies.  I know of one that has been changed to an eaterie and the rest are sitting vacant.  Some of the landlords are even offering free rent for 3 months just to get someone in.  These are desperate times.

Thu, 07/01/2010 - 14:14 | 447034 Ripped Chunk
Ripped Chunk's picture

mmmm doughnut

Thu, 07/01/2010 - 08:47 | 446058 cainhoy
cainhoy's picture

this will be juicy! is the balloon finally going up on this disgusting cesspool of a society? I hesitate to use the word "civilization".

Thu, 07/01/2010 - 08:51 | 446066 LoneStarHog
LoneStarHog's picture

The sign of a civilized society is its LACK of laws, as a CIVILIZED people require very few laws because they are INHERENTLY civilized.

Thu, 07/01/2010 - 08:57 | 446081 overmedicatedun...
overmedicatedundersexed's picture

The legal mafia, Judges and Lawyers and ahh hemmm the congress..strongly disagree..more laws = more criminals = more trials = more jails and police.. we are in the grips of a legalized police state (no pun intended)

Thu, 07/01/2010 - 14:17 | 447040 Ripped Chunk
Ripped Chunk's picture

Wait until they completely privative "corrections".

"Well Shmocko, you are eligible for parole but quite frankley we need the revenue next year. Since they legalized drugs, we really need the headcount."

Thu, 07/01/2010 - 09:00 | 446089 Paladin en passant
Paladin en passant's picture

A slight correction, the sign of a civilized Government is a lack of laws because they respect the rights of their employer-citizens.

We have a federal government that regulates everything down to the size of your toothbrush and the types of trees that are permitted to be planted on the sides of the roads.

Thu, 07/01/2010 - 09:10 | 446114 LoneStarHog
LoneStarHog's picture

A civilized society requires NO/LITTLE government, as it regulates itself.  A civilized society is an intelligent and educated people. Such people will not have nor tolerate an oppressive government.  If America was truly such a society WaShitOn would have 200,000,000+ at its doorstep to take it down.

Just try having an intelligent/educated discussion with an American about contemporary America. The normal response is either anger or a blank stare.

Thu, 07/01/2010 - 09:18 | 446128 Paladin en passant
Paladin en passant's picture

Wait till November.  We're a civilized people taken advantage of by our government. We don't riot against the government generally, but we do throw the bums out. We've already forced the resignations (i.e. not running again) of many long-term congressmen.  We may be slow to anger, but when we're aroused, we clean house.

Thu, 07/01/2010 - 09:32 | 446158 LoneStarHog
LoneStarHog's picture

I am watching for A FALSE FLAG EVENT sometime prior to the November elections.

We shall see...

Thu, 07/01/2010 - 14:14 | 447032 Ripped Chunk
Ripped Chunk's picture

Agreed, just a matter of time.

By November "coalition" forces will occupy Iran as well.

Thu, 07/01/2010 - 14:43 | 447094 RockyRacoon
RockyRacoon's picture

That is a common meme as we near every election cycle.  It means that the prognosticator is suffering from a lack of knowledge about the current events cycles.  Nature abhors a vacuum, as does the human mind.  When we don't know, we make up stuff or fabricate possibilities based upon factors over which we have no control.  That lays the blame at the feet of others.  The more unstable, unpredictable, and unsavory events appear, the more outlandish the predictions become -- and the more mysterious the perpetrators.

But, you could also be right.

Thu, 07/01/2010 - 09:44 | 446177 Gully Foyle
Gully Foyle's picture

Paladin en passant

"We don't riot against the government generally, but we do throw the bums out. We've already forced the resignations (i.e. not running again) of many long-term congressmen. We may be slow to anger, but when we're aroused, we clean house."

Except for a truly clean home you don't use the septic tank water of which all politicians reside.
Riddle me this, when do you intend to remove the money and connections that are the root of the corruption? Is it after you shuffle new corrupt faces?

Thu, 07/01/2010 - 10:09 | 446207 Paladin en passant
Paladin en passant's picture

Only the naive believe we could ever construct an incorruptible system.  We'll vacillate within a relatively narrow range of corruption for eternity. 

That's the nature of man. Ninety percent of people choosing to enter politics do so for two reasons: money and the power to get more money.  That'll NEVER change.  We just need to flush out the septic tank this fall and in 2012 so it'll quit backing up into our homes.  We don't need a perfect system.  Trying to create a perfect system leads to fascism and tyranny.

Rioting against the government is a ROW phenomenon.  Americans have lives to live. That's why we hire politicians to take care of that crap. When we tire of them, we vote for Change.  When that turns out to be just another Chicago scam, we decide to get serious and vote the bastards out.  At least the new crop of bastards has a bit of fear for a bit of time.

Thu, 07/01/2010 - 14:46 | 447101 RockyRacoon
RockyRacoon's picture

...but we do throw the bums out.

Well, yeah, all of them except our bum.  He's ok.

Incumbents rule, historically that has not changed -- so nothing changes.

Thu, 07/01/2010 - 09:57 | 446198 Walt Whitman
Walt Whitman's picture

However, when the "legalized police state" has changed the paper ballot system to an easily hacked and "revised" electronic ballot system, your chance of "throwing the bums out" is severely and irrevokably curtailed.

Thu, 07/01/2010 - 14:12 | 447029 Ripped Chunk
Ripped Chunk's picture

Yes, this is clearly the strategy for the future.

I only do the "drop off" paper ballots now but really, how do I know it is even counted???

Thu, 07/01/2010 - 09:07 | 446107 Cursive
Cursive's picture

@LoneStarHog

The sign of a civilized society is its LACK of laws, as a CIVILIZED people require very few laws because they are INHERENTLY civilized.

Thank you.  Couldn't have said it better or more succinctly myself.

Thu, 07/01/2010 - 09:34 | 446161 Pladizow
Pladizow's picture

The more corrupt the state, the more numerous the laws. - Tacitus, Roman Senator - ???BC

Thu, 07/01/2010 - 08:48 | 446059 LoneStarHog
LoneStarHog's picture

150,000 gain in the private sector? --- Sure, Birth/Death Model phanton jobs...There is only one comic book Phantom job required and it is already filled

Thu, 07/01/2010 - 08:58 | 446084 Cursive
Cursive's picture

@LoneStarHog

It is laughable, isn't it?  I think there is all of this focus on private payrolls because they want to diminish the coming tsunami of public sector layoffs.

Thu, 07/01/2010 - 09:23 | 446138 Boilermaker
Boilermaker's picture

Well, that's the fun part about exposing the results (of anything, really) without making the data and methodology available...ain't it?  You can only speculate that it's bogus.  They'll never let you prove it.

Thu, 07/01/2010 - 10:21 | 446239 Rogerwilco
Rogerwilco's picture

"they want to diminish the coming tsunami of public sector layoffs."

Those layoffs will never happen. We will have QE2 to bail out all of the states and CRE fat cats. Of course they will wait until after the elections (lame duck Congress) to make their move. The money will have strings attached and will pretty much seal the deal as the Feds assume full control down to the local level.

Thu, 07/01/2010 - 08:50 | 446063 oklaboy
oklaboy's picture

look out belooowwwwwwww....

Thu, 07/01/2010 - 08:51 | 446064 Boilermaker
Boilermaker's picture

Futures rise on the news, naturally.  Albeit they are still in the red.

Run for the bomb shelter negative data...down 30.  Yea, right.

Thu, 07/01/2010 - 08:53 | 446071 fuu
fuu's picture

I noticed that as well. 

Thu, 07/01/2010 - 09:03 | 446097 firstdivision
firstdivision's picture

Going green now, so now the short squeeze begins.

Thu, 07/01/2010 - 09:11 | 446118 Boilermaker
Boilermaker's picture

Un-be-fucking-lievable.

This shit never ends.  Never.

Thu, 07/01/2010 - 14:52 | 447113 RockyRacoon
RockyRacoon's picture

Patience, my good man.  When it ends we will all be looking in the rear view mirror saying, "What the hell was that!?"  It'll flash by so fast, so many traders will be caught with their shorts down, so many politicians will be bumped off the stump by the earthquake that there will be no time to prepare.

Except for those of us who already have, of course.

What part of "Get Out Of This Market!" is so hard to understand?  Picking up pennies in front of an oncoming steam roller is bad for the health and the wallet.

Thu, 07/01/2010 - 08:51 | 446065 Cursive
Cursive's picture

RIP Recovery: the economy has now entered the "total freefall" area.

Honestly, this report gives me feelings of rage.  Rage because we knew the Keynesian clowns were wasting time and money to keep their Potemkin Wall Street village afloat.  No punishment is too harsh for Benron et al and no derision is too light for the enablers and dupes like Leo Kolivakis.

Thu, 07/01/2010 - 09:11 | 446116 Cognitive Dissonance
Cognitive Dissonance's picture

Thanks for the link. This paragraph pretty much says it all.

"By using its balance sheet to protect an investment bank against failure, the Fed took on the most credit risk in its 96- year history and increased the chance that Americans would be on the hook for billions of dollars as the central bank began insuring Wall Street firms against collapse. The Fed’s secrecy spurred legislation that will require government audits of the Fed bailouts and force the central bank to reveal recipients of emergency credit."

Thu, 07/01/2010 - 10:02 | 446200 EscapeKey
EscapeKey's picture

The truely shocking bit is that Bernanke lied about it. If I were to do the same, I would be in jail for 30 years. But this is clearly a case of an individual thinking he is above the law.

 

Thu, 07/01/2010 - 13:21 | 446901 Cathartes Aura
Cathartes Aura's picture

if he's still free, then he is. . . above the law.

Thu, 07/01/2010 - 14:19 | 447046 Ripped Chunk
Ripped Chunk's picture

What !!???  Ben lied !!?????

I am shocked !

Thu, 07/01/2010 - 14:53 | 447120 RockyRacoon
RockyRacoon's picture

And this did not come from some tin-foil hat wearing blogger site.

How did this article sneak by into the MSM?  Somebody's ass is on the street.

Thu, 07/01/2010 - 15:44 | 447300 Ripped Chunk
Ripped Chunk's picture

No shit!  Don't upset the Sheeple right before a big holiday weekend!

Thu, 07/01/2010 - 10:06 | 446202 Paper CRUSHer
Paper CRUSHer's picture

I sympathize and I would like to add that "PRIVATE" Benjamin Bernanke will choose "inflate and die" as he is well known for his MONEY EXPANDING ACTIVITIES, so going along those lines a deserved punishment in the form of  slipping one of these CAPSULES into his mouth will do the trick......DR KANANGA V 007:

http://www.youtube.com/watch?v=CBncb56Z_xI&feature=related

HA-HA love the line........"He always had a INFLATED opinion of himself"

Thu, 07/01/2010 - 11:37 | 446600 jdrose1985
jdrose1985's picture

Money expanding capabilities my ass.

Good luck finding anyone other than fed.gov at the table borrowing money into existence, the end is nigh as voters throw the bastards out.

into the deflationary hell hole we march, its game and gig over, the inflationary helicopter rescue was a LIE.

Thu, 07/01/2010 - 08:52 | 446067 jtmo3
jtmo3's picture

150k my ass. Do they expect someone to believe that tripe?

Thu, 07/01/2010 - 09:09 | 446111 Cursive
Cursive's picture

It probably helps whatever predatory prop desk short squeeze they will attempt today or tomorrow.  Trading is war.

Thu, 07/01/2010 - 09:12 | 446121 Boilermaker
Boilermaker's picture

Exactly, it isn't real but it's justification and a plausible reason to jam the shorts.

Thu, 07/01/2010 - 09:19 | 446130 I need more asshats
I need more asshats's picture

We have to remember that there are a lot of companies in the private sector that are just quasi-government entities.

Funnel some recovery money to these entities and let them hire some 'employees'.

Thu, 07/01/2010 - 08:52 | 446068 sumo
sumo's picture

Naturally, Reuters, Bloomberg, and Bubblevision will describe these numbers as "unexpected".

Yeah, who would have guessed?

 

Thu, 07/01/2010 - 10:28 | 446270 MilleniumJane
MilleniumJane's picture

No kidding...do these people live under a rock?  I shouldn't be, but I am in constant amazement at the obtuseness of mainstream media.

Thu, 07/01/2010 - 13:23 | 446913 Cathartes Aura
Cathartes Aura's picture

employed actors.  do they talk to the cameras?  are shows "produced"?  do they have paid sponsors / advertisers?

then they're actors.

Thu, 07/01/2010 - 08:52 | 446070 papaswamp
papaswamp's picture

First the weather...now 'census displacement'? Who the fuck would pass up a long term private job for a temp census job? Perhaps I'm being too simplistic.....

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