Gallup Finds Unemployment Increased In December, Underemployment Is At 6 Month High, Blasts Government Data Fudging

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Thu, 01/06/2011 - 15:52 | 853601 bob_dabolina
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This is good for commodities.

Simply means Ben prints more money.

Thu, 01/06/2011 - 16:08 | 853649 SheepDog-One
SheepDog-One's picture

Bernank prints more money, further cratering his dismal bond ownings. Catch-22 time.

Thu, 01/06/2011 - 16:32 | 853739 Cdad
Cdad's picture

Dog,

BIMBO ALERT....BIMBO ALERT!  Here is your 1.29 handle on little Miss Euro.  All riders at the L Blankfein Wildest Dreams Park should exit the rides immediately [as oil has been priced for stupid for long enough, thank you].  Prepare for the morally depraved stud man USD to have his way with every living thing.

As for folk in the Eurozone, please don your helmets and your rubber galoshes as Miss Euro leans into the railing and blows chunks of Euro dollars.

And Ben...you keep your interventionist fingers off the FX switch as many of us don't cotton to know intellectual Keynesian bailing out every freak on the entire surface of the planet.  That is YOUR love child...not mine!

 

TEAR DOWN THE MIRROR BALL!

 

Thu, 01/06/2011 - 16:37 | 853744 SheepDog-One
SheepDog-One's picture

I see the poor little starlet puking over the rail! Today must be a monumental feat keeping the wheels on the shaky equities indexes here as the dollar zombie walks up the stairs a bit.

Thu, 01/06/2011 - 16:46 | 853773 Cdad
Cdad's picture

Yep....some invisible hand there holding up the little tramp, too.  Unbelievable...which is exactly how Americans will feel when they think about the US market for the next generation...Unbelievable!

But the wheels dog....they are most certainly wobbling...

I bet she blows at some point in the wee wee hours of the night.

Thu, 01/06/2011 - 17:20 | 853925 Chappaquiddick
Chappaquiddick's picture

You both blow ..... and suck ..... and swallow, too.  Bitchez.  

Thu, 01/06/2011 - 16:38 | 853755 HarryWanqer
HarryWanqer's picture

This seems unlikely.  I only trust government data.

Thu, 01/06/2011 - 16:41 | 853762 DaveyJones
DaveyJones's picture

I feel the same way about cheese

Thu, 01/06/2011 - 16:46 | 853786 SheepDog-One
SheepDog-One's picture

Gubment cheese is the best.

Thu, 01/06/2011 - 18:31 | 854134 Dr. Porkchop
Dr. Porkchop's picture

Government fudge is also available.

Sun, 01/23/2011 - 18:46 | 897697 steveo
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And it is freely distributed!

Thu, 01/06/2011 - 17:05 | 853866 John Law Lives
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Thanks for the laugh, Tyler... a.k.a. Robo... a.k.a. Harry.

Thu, 01/06/2011 - 15:56 | 853605 Sophist Economicus
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Paging Harry Wanger, paging Harry Wanger....

Thu, 01/06/2011 - 16:47 | 853790 countryboy42
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Now you did it. Any second now, he will be talking about how great his used condom business is doing

Thu, 01/06/2011 - 15:58 | 853608 Gene Parmesan
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Sounds like SOMEBODY doesn't want/need an obamacare waiver.

Thu, 01/06/2011 - 16:17 | 853674 Fish Gone Bad
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Actually I was thinking someone really needed a hug.

Thu, 01/06/2011 - 15:58 | 853614 ReallySparky
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I would tend to believe Gallup.  However the number flung around for 580K is a trap.  The last week of December was a 4 day work week, many lazy government workers left at the helm, while the senior workers took vacation.  Lest we not forget that most of populated area's were blanketed in snow and unseasonally cold weather.  The number will be light based upon these facts and of course the usual massage.

Thu, 01/06/2011 - 16:05 | 853640 Dr. Engali
Dr. Engali's picture

And the senior workers aren't lazy turds?

 

Thu, 01/06/2011 - 16:20 | 853690 Fish Gone Bad
Fish Gone Bad's picture

They probably are lazy turds, but they are senior lazy turds.

Thu, 01/06/2011 - 16:28 | 853722 Panafrican Funk...
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http://manifestdeconstruction.blogspot.com/2011/01/of-blizzards-and-angst.html

My analysis of the Gallup consumer discretionary spending seems to underscore their accuracy, they were the only major data source I could find showing that consumer discretionary spending was actually not good.  Que the "surprise" disappointing retail numbers and resultant bloodbath.  Will be doing a whole lot more digging on their data. 

Thu, 01/06/2011 - 16:39 | 853750 midtowng
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Gallup hasn't cooperated with the standard government line. I've noticed that their consumer sentiment surveys have consistently been higher than the official numbers.

Thu, 01/06/2011 - 16:01 | 853617 Translational Lift
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Now there's a surprise!!!  But hey...if real numbers were used the Gubment couldn't lie about their employment stats....

Thu, 01/06/2011 - 16:00 | 853618 Flapjackmaka
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Fire up the printing press!!!

 

Thu, 01/06/2011 - 16:34 | 853621 Michael
Michael's picture

I apply for unemployment compensation every year just so I can be counted in U3 , instead of being buried 6 feet under in U6. I've been unemployed for about 5 years and am not eligible to collect unemployment compensation. I apply for jobs but they never call me for an interview. Good thing my house is paid off.

Thu, 01/06/2011 - 16:06 | 853643 SheepDog-One
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Cue rose colored economic forecast reassertions from HarryWanger in 3.....2......1.....

Thu, 01/06/2011 - 16:11 | 853660 Flapjackmaka
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heh, The economy is recovering! This is an outlier. Did you not see the headlines on Business Insider, Marketwatch or CNBC? Jobs are being created and you just want America and Obama to fail. Our Secretary of the Treasury and Bernanke are so smart! - /s

Thu, 01/06/2011 - 16:26 | 853717 youngman
youngman's picture

In just Obama´s cabinet there are 5 new unemployed I think...

Thu, 01/06/2011 - 22:03 | 854780 Things that go bump
Things that go bump's picture

You are not eligible for unemployment if you quit.  

Thu, 01/06/2011 - 16:10 | 853650 papaswamp
papaswamp's picture

I think ADP is going to come out the looser in this. The NSA UE numbers for December were quite high with 3 out of 4 weeks showing over 500,000 new filings. The interesting numbers will be participation rate, NILF and size of workforce. these have all been heading in the wrong direction for a decade. I see nothing that has happened to change that.

Thu, 01/06/2011 - 16:12 | 853661 JimboJammer
JimboJammer's picture

The  Fed  and  the  White  House  know  that 

they  must  not  let  the  general  public  loose

confidence...  they  will  fudge  the  numbers ..

and  do  anything..  when  the  americans

loose  confidence  in  the  U S  Dollar  ,...all 

bets  are  off...  >>  Flash  Crash ....

Thu, 01/06/2011 - 16:17 | 853679 SheepDog-One
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Who are they fooling anymore? And what would it matter at all if 'the general public lost confidence'? Theyre just jerking off is all.

Thu, 01/06/2011 - 16:36 | 853747 Sig Sauer
Sig Sauer's picture

WHAT??  Lo these past few months I've been the been the beneficiary of a complementary reach-around and didn't even know it??

Thu, 01/06/2011 - 16:13 | 853662 max2205
max2205's picture

when's the next UI getting extended?  It's cold outside

Thu, 01/06/2011 - 16:12 | 853663 Azwethinkweiz
Azwethinkweiz's picture

Anyone else catch Jesse Jackson rambling about using data from bus drivers and parking meters today on CNBC? I'm beginning to think the government gets their data much in teh same manner. Unemployment figures are derived at by averaging the number of people who visited Disneyland and subtracting that number from those who visited Knotts Berry Farm AND bought a funnel cake.

Thu, 01/06/2011 - 16:39 | 853759 SheepDog-One
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I love listening to Jesse Jackson talk, hillarious.

Thu, 01/06/2011 - 16:12 | 853664 Tense INDIAN
Tense INDIAN's picture

and is there any reason to trust this data.......blogoshere has been writing that unemployment is actually more than 20%

Thu, 01/06/2011 - 16:27 | 853714 Hephasteus
Hephasteus's picture

Well if you look at the last 2 cycles and intent of the 3rd. The industrial revolution provided machinery for supression. The informational technology revolution provided the machinery for spying and manipulating.

Next in line was the green revolution. Which was supposed to be some big high minded save the earth thing. It was really just a vehicle for taxing the crap out of luxury so that all the luxury was only in upper class hands with none for middle class. When the green movements plan card was outed it was no longer a functioning in tact approach. So now you are stuck with system that wants and needs intense labor and effort with nothing to put it towards. We do not have to work so hard. We can simply do a little work and relax and have a high standard of living. But we have to build our own graves and develope the things our masters need to control us.

This leaves us vapor locked. There is no way forward. There is no trust going forward and the system that feeds and thrives off giving and then taking it all back through hidden theft is stuck forced to steal much more than will be tolerated. While people lay down strong thick walls that can't be breached and become more and more antagonistic and unapproachable.

Thu, 01/06/2011 - 20:11 | 854451 HungrySeagull
HungrySeagull's picture

Old fashioned way to break a vapor lock.

 

Pour gasoline directly into the Holley Double Pumper and get the &^%$ out of the way when that motor is cranked.

 

And dimwit key holder better keep it cranking when fire rises high. It will go away as soon as the engine catches it and runs.

Thu, 01/06/2011 - 16:17 | 853678 Xibalba
Xibalba's picture

Yet another explanation for the Dollar surge.  

Thu, 01/06/2011 - 16:18 | 853683 Irelevant
Irelevant's picture

Gallup is a terrorist organization and will be shut down. Long live the President BHO, The Fed, and the corrupt Congress.

Thu, 01/06/2011 - 16:45 | 853778 DaveyJones
DaveyJones's picture

G-had

Thu, 01/06/2011 - 16:19 | 853686 Henry Chinaski
Henry Chinaski's picture

Employment statistics are so confusing.  I just hit a fast food joint for my economic updates:

Competent middle-aged workers = depression

Mostly competent college students and/or elderly workers = recession (or recovery)

Totally incompetent pimple-faced teenagers = growth/boom/full employment

Thu, 01/06/2011 - 16:49 | 853796 pazmaker
pazmaker's picture

I like that!  +1

 

So which one of these three did you see?  I don't frequent fastfood.

Thu, 01/06/2011 - 17:19 | 853872 DaveyJones
DaveyJones's picture

it's beyond option A, Even fast food has to slash prices to keep the customers. Some lost revenue

http://www.economist.com/node/16380043

Thu, 01/06/2011 - 19:26 | 854288 Henry Chinaski
Henry Chinaski's picture

Now and then I hit the local Subway.  The service is excellent.  The former construction supervisors and office managers build a mean sandwich.

Thu, 01/06/2011 - 17:34 | 853976 Rockfish
Rockfish's picture

Excellant.

Thu, 01/06/2011 - 16:21 | 853692 Bahamas
Bahamas's picture

I clearly remember that the Fed guy with hair on the chin but not on the head , saying in Davos that he'd  seen "green shoots" coming out of the crisis....may be he's been smoking one too many of those green shoots.

Thu, 01/06/2011 - 16:25 | 853698 Cognitive Dissonance
Cognitive Dissonance's picture

Will someone stuff a rug down Gallup's throat. Who the hell is running this circus anyway?

Timmy, where the hell are you? Oh, that's right. He's shepherding the loan application through the BIS.

http://www.zerohedge.com/article/another-day-another-debt

Thu, 01/06/2011 - 16:23 | 853700 Lincolns Mullet
Lincolns Mullet's picture

I heard the government is hiring dead fish and bird picker-uppers for $500/hour.  That should help fluff the numbers a bit.

Thu, 01/06/2011 - 16:25 | 853708 Bahamas
Bahamas's picture

500 per hour...come on that can't be true

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