Emergency Jobless Insurance Claims Surge By Most Ever In Prior Week

Tyler Durden's picture

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Gimp's picture

I am sure the spinmasters are going to have to pull out every trick in the book to make this go away and/or look good.

Ministry of Propaganda do your magic! 

Kudlow where are you??  Spin baby spin.

 

Anonymous's picture

Where are the stories about tent cities?
Oh, forgot. A "D" is running the Presidency now.
It is astonishing how few human suffering stories are printed these days.

carbonmutant's picture

Actually the current strategy is selective reporting of events on one hand and marginalize those that do report on the other.

Spartacus's picture

Two questions which I am sure Tyler will be able to answer.This may be unrelated. BUT, I was wondering if someone give me a break-up off the profit that Goldman makes. Like , profits from trading and profit from investment banking, profit from stealing government money etc.

Well, billions of dollars as bonuses when millions of Americans have lost their shirts.

Well, frankly, the careless American lowerclass deserves this treatment. Look at the leaders you have chosen and the way they have been scandalised by the Banksters.Wuh!. Unbelievable. The bastards have the balls to give the money as bonus. the least they could have done is declared a good dividend. I am sure, there is a lot that has been hidden from the pubic.

MY 2nd QUESTION "Why the Government Of US of A so afraid of Goldman Sachs".

Any explanantion other than Fed being the private bank created by the crooks etc would do.

Anonymous's picture

OMG

Anonymous's picture

A great big ditto.

Well done, ZH. Well done indeed.

Anonymous's picture

So, if I understand the math here, there are a total of 9.7 million people either on the unemployment or extended unemployment lines? Is this it? WOW

Anonymous's picture

And of course these numbers don't include people like me. I quit my job 22 months ago after selling my business. Since I resigned I do not get unemployment coverage of any kind. None of these statistics (to my knowledge) cover this situation. I'm not sure how many people actually resign anymore (mine was a unique situation where I did not agree with the ethics (or lack thereof) of the new owner), but I don't believe we are ever counted as unemployed. Perhaps statistically insignificant.

bs's picture

For how long can you stay in the Extended Benefits program, and what's the next step after you no longer qualify for this?

 

 

pbmatthews's picture

For how long can you stay in the Extended Benefits program, and what's the next step after you no longer qualify for this?

 

Answer: You get a job for Americorps and a interest free home loan from Freddie or Fannie.

bs's picture

As much as I like your response, I'm still searching for reply giving me the answer. Not an American (your President caused be to be late for work today), so this is not common knowledge to me.

palper's picture

Depending on what state you live in it can go up to 99 weeks the last I heard. That includes using all the state benefits and all the federal ones. I believe they have extended the federal ones 3 times already.

asdf's picture

ok, and what happens then? Let's say you're 55 and have been laid off as a whatsoever from General Motors. You just can't find a job even after 2 years. Is there something like a basic social net that provides you with food and a home or do you have to move under a bridge?

 

(I'm also from europe)

docj's picture

Contrary to Eurpoean folklore, we actually have a pretty comprehensive welfare/relief system in the US.  By-and-large, unless you're too mentally unstable to have enough sense to find your nearest government center (recognizing that to do so may require, maybe, a short bus ride) your chances of ending up "under a bridge" are, in reality, pretty small.

Do a quick look-up of "food-stamps", "WIC", "AFDC" and the like and you'll start to get the idea.

Then, there's always the "cash economy" - lots of people working in that one, and those ranks are only going to grow in the near term.

The Rock's picture

unfortunately i know a lot of people who abuse the system in this "cash economy".  it's not just the poor but the wealthy who are not reporting all their earnings...

docj's picture

As do I - also on both ends of the spectrum.  In fact, more on the upper than the lower, truth be told (as they tend to have skills that can be marketed to people "under the table").

asdf's picture

ok, thanks for the answer. I still haven't found the program that would pay my 55 year old unemployed worker his home, but I'll just believe you that it exists and noone has to end up under a bridge.

At first view, your welfare system seems even more complicated than ours because there are so many different programs.

Anonymous's picture

SOME HELP BUT NOT MUCH. I think you have to ask your state Unemployment (or whatever they call it) Agency, because, regardless of what the USA does, your State (legislature) has to pass a law enabling it. Evidence toward that is the fact that your checks come from the State, not from the USA. I think some states started off with 9 months "regular" unemployment, and then added 3 or 4 months extra. I am wondering whether they will add even more; I think that depends on whether the USA gives them more. Sorry I don't have more information. I usually get the best information by personally going down to the government office in question and asking secretaries until I find out; there are always some secretaries who know exactly what is going on.

Anonymous's picture

A friend of mine just tried to get into Americorps and couldn't. She is in the Master's program with me at one of the more prestigious schools in Boston. Made my heart sink a bit about the unemployment picture. Things certainly haven't been going well for my wife and I -- the massive amount I borrowed isn't cutting it, and wife is barely holding on two a low wage job. We are both recent college grads.

pbmathews - that last post came off sounding more than a little privileged. I appreciate the insights on ZH, but for my third post in a row, I have to wonder if the wealthy people whining about losing money in the market are worth caring about..(many, not all) do not seem to have the perspective of those who are dealing with tough times.

You want to use the unemployed and sinking as pawns for your ideological game, fine. But how does that make you better than the fraudsters you complain about? Makes me want you to go down, too. I might just take yours while you are lying on the ground..

Anonymous's picture

> Master's program with me at one of the
> more prestigious schools in Boston.

> holding on two a low wage job. We are
^^^----
> both recent college grads.

this made me laugh

Anonymous's picture

Yeah, no privilege there.

Anonymous's picture

LoL, another kid who believed the bumper sticker "Prosperity is my birthright".

I question your use of the word "two", Mr Highly Educated.

Anonymous's picture

Attacking style rather than substance...

nonclaim's picture

I don't want to sound offensive but ignorance of basic language skills is not style much less substance. That defense coming from someone claiming higher education is hypocritical at best (on top of the demonstrated ignorance). Be quiet and humble and use the free time to learn something useful.

Unscarred's picture

Man, crazy to see these unemployment figures, huh?...

Anonymous's picture

Wow... way to chime in with such insight.
Surely you have better things to do than post crap like that.

Anonymous's picture

I believe his avatar would explain the comment, you young whippersnapper

Cindy_Dies_In_The_End's picture

Thats not really fair guys, but I agree that many college degrees are worthless. What the frak does anyone "do" with a liberal arts degree these days?!? LOL

 

My advice is quite simple, you need to DO something. Sell crap you do not need on Ebay or craigslist, dumpster dive and sell on CL, use actual hands on skills (if you have any) etc.

ZHers don't have a lot of respect for hand-wringers here.

docj's picture

Spot on - lots of early 20-somethings out there who spent first-rate money (and accumulated the requisite debt) to attend a second-rate college to get a third-rate degree.

Look for "Cash for Sheepskin" proposal out of the Administration or CONgress before too long.

Anonymous's picture

you need to DO something...

For starters realize the fallacies of the conceptual framework: Debt.

Anonymous's picture

It's only going to get worse for you when Obama holds the proverbial gun at your head and makes you buy overpriced 'health insurance'. You and your wife fall precisely into the demographic of the people who will be the most egregiously fucked by the new 'free healthcare' legislation. You'll be able to afford something, in their judgement, and thus you and your wife will have 10-20% of your disposable income hijacked in the name 'universal healthcare'...which is code for free inner city health clinics.

Cindy_Dies_In_The_End's picture

" But how does that make you better than the fraudsters you complain about? Makes me want you to go down, too. I might just take yours while you are lying on the ground.."

 

Nevermind any suggestions from me. Clearly the "degree" has not increased your IQ. I seriously doubt you'll be taking anything from pbm, since you'll sink way before he ever does.

You want to do something? Go help yourself. Sell stuff. Your poor wife is supporting you all by herself? dude, you need to re-think your life.

Unscarred's picture

Your poor wife is supporting you all by herself? dude, you need to re-think your life.

Nah, bro.  Dude is playing it just like he should be playing it.  If his wife is gonna take half in another 5 or 10 years down the road, she might as well put up the initial investment.

http://www.youtube.com/watch?v=SniOXFhwIZ8

Ripped Chunk's picture

This is pretty hilarious.  Talk about asking for it.

Anonymous's picture

Wait a second...i thought companies in US are HIRING!!!my friends are getting ready with H1-B stamped passports ready to fly...even your US MNCs are hiring like crazy here...

Miyagi_san's picture

Move to India, They need phone tec's that speak english 

Screwball's picture

No shit!!!!!!!!!!!!!!!!  I don't think we talk to anyone in America anymore.  Make me want to puke.

sondog's picture

I don't get this attitude. Do you think people aspire to doing telemarketing or phone support? I just wonder if it really is so bad for the economy? You know what America does well? Selling Americanism. Clothes, music, movies, celebrities, inventions (cars, planes, ipods, tvs)...

 

I could be wrong, just thinking aloud.

Screwball's picture

Right now I think many Americans aspire to do anything, even working on a support desk.  Things are tough out here and some of us are sick and tired of seeing our jobs shipped to low cost countries.

I worked for a forture 100 company and watched all the manufacuting jobs go away in the 90s due to NAFTA.  I lost my job because of it.  I went back to school and re-tooled my skills only to watch my white collar job go to India to the guys I had to train to begin with.  Now that job is gone.

I would gladly sit on a support desk and speak American to anyone that called in.  Anyone hiring, and right now I'm pretty cheap.

sondog's picture

Hmm fair enough. I'm not in the US so I appreciate others insight from within. I guess one of the best industires that can't really be outsourced, doesn't require being priviledged, and isn't "menial" would be... real estate. Uh oh!

trav777's picture

Well...the executive class has only grown.  They want THEIR children to have the few good jobs.  And go to the good schools.

What is the only sector of income that is going up?  Executive class income.  Rank and file is down.  And this generates corporate profits for which executives get bonused.  A reinforcing trend.

IOW, the entire system is built to LOCK YOU AND YOURS THE FUCK OUT.

In other countries, children of sufficient aptitude get to go to top schools.  If you perform poorly on the tests, you go elsewhere.  Yale and Harvard and Princeton have sufficient freshman class sizes to accept EVERY single National Merit Scholar (top 1/2 of 1%) between them, yet a Merit Scholarship plus $.50 will get you a dialtone these days.  The top schools are congested with the mediocre children of the legacy elites and those with connections to them.

President's daughter?  Stanford.  Really smart kid, nice scores good luck with everything.

They are forming a landed aristocracy right before our very eyes.

Screwball's picture

Well...the executive class has only grown.

The last company I worked for had one VP for every 10 employees.  Many of which we had no idea what they did, other than make a shitload of money.  The company was so top heavy it was ridiculous. Then they carped at us all day to save on fucking pens, pencils, and paper clips.  Then told us no raise, no bonus, but you need to put out more work cause we laid of 10 more people.

Me thinks we have way too many executives and not near enough worker bees. And don't get me started on how many of these executives were dumber than a turd.

Anonymous's picture

This reminds me of a joke I heard back in graduate school. Where I went to school, we actually had some industrial capacity left to make this joke relevant. So here goes...

A Japanese firm and an American firm decide on having a boat race. The Japanese show up with one manager and 6 workers as rowers for their boat. The Americans show up with 6 managers and one worker rower for theirs. Understandably the Americans lose the race. So, what do they do? They challenge the Japanese to another race the following day. This time the Japanese show back up with the one manager and six worker bees to row the boat. However, the Americans have wised up. They show up with a single manager, a single worker, and five management consultants for their team. The Americans lose yet again. What do they do then? Why fire the worker, of course.

Screwball's picture

That's pretty much how it works.  The last place I worked, a manager had an average of 7 workers under hiim. Ours got promoted and we went 4 months and never missed him.  Of course he was replaced with another clueless ladder climbing sleuth, with no more of a clue than the guy who mowed the yard.

Anonymous's picture

I really do think you owe a hearty apology for your comments about turds. I've never met a turd that doesn't have more integrity then a bankster.

Cindy_Dies_In_The_End's picture

Son--its pretty bad, IMO. Have you read about the tent cities popping up all over the USA? That 1 in 8 are on foodstamps (Mish).

 

Yep--we're getting there.