Initial Claims Confirm Economic Deterioration: +471k, Miss Expectations By 31k, Previous 446k

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Thu, 05/20/2010 - 08:38 | 362684 LoneStarHog
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So THIS is what a V-Recovery looks like.  I have always wondered.

Thu, 05/20/2010 - 12:52 | 363265 BlackBeard
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They actually meant "V" as in that shitty movie about civil insurrection.

Thu, 05/20/2010 - 08:40 | 362691 suteibu
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"Unexpectedly" increase.  Come on...get it right.

Thu, 05/20/2010 - 08:50 | 362720 docj
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I owe you a beer.

Thu, 05/20/2010 - 08:51 | 362721 docj
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But not two (dup post).

Thu, 05/20/2010 - 08:53 | 362726 suteibu
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Damn...I was long beer.

Thu, 05/20/2010 - 08:40 | 362694 docj
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"Unexpected", of course.

Thu, 05/20/2010 - 08:53 | 362727 Cursive
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Lulz.  Whoocoodanode?

Thu, 05/20/2010 - 08:43 | 362700 jkruffin
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Once people see nothing is going to happen in Greece today, the market will be back in melt up mode.  I just have this sneaky feeling about it.  I would not be surprised to see the market turn green around midday.

Thu, 05/20/2010 - 08:48 | 362711 pvmuse
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Yes, right around midday, when Ben calls JPM, and tells them to step on it with the S&P mini ramp up.

Thu, 05/20/2010 - 08:55 | 362730 Cursive
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You have been trained well the last 15 months.  I envisioning a rug being pulled out from bulltard feets....

Thu, 05/20/2010 - 08:44 | 362703 Jack
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I don't think double-dip is accurate unless you're talking about something specific like the stock market. Things getting worse more slowly does not equal recovery. This has been a recovery-less recovery.

Thu, 05/20/2010 - 08:56 | 362735 Cursive
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+1  The recovery that never was.

Thu, 05/20/2010 - 09:07 | 362766 JacksCompleteLa...
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The weekend at Bernies recovery

Thu, 05/20/2010 - 08:46 | 362705 Xibalba
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Ooooooo.  Green shot across the bow! 



my time is near

Thu, 05/20/2010 - 08:52 | 362724 Sabibaby
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Maybe we'll get to see how well the" circuit breakers" work today? Rainbows and Unicorns for EVERYONE!

Thu, 05/20/2010 - 09:02 | 362745 Implicit simplicit
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Algos: :"This does not compute; illogical outcome to V-shape recovery input. Repeat. This does not compute. Emergency-SEll, Sell, SEll"

Thu, 05/20/2010 - 11:42 | 363060 Missing_Link
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"Open the pod bay liquidity doors, HAL."

"I'm sorry, Tim, I'm afraid I can't do that."

Thu, 05/20/2010 - 12:13 | 363141 itchy166
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Thu, 05/20/2010 - 09:06 | 362763 ZackAttack
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We need better expecters. These economists aren't working out worth a shit.

Thu, 05/20/2010 - 09:09 | 362770 suteibu
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Indeed.  How do they keep their jobs when they are always wrong?

Thu, 05/20/2010 - 09:44 | 362852 Miss Expectations
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As the expecters are delusional, my name rarely makes the headlines.

Thu, 05/20/2010 - 09:14 | 362784 kaiserhoff
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Let's call this what it is:

Obama's Depression.

Thu, 05/20/2010 - 09:49 | 362868 RobD
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Are you kidding, the evil Boooosh will get the blame for the greatest depression.

Thu, 05/20/2010 - 09:21 | 362789 litoralkey
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The Labor Department said that there were 94,788 less unadjusted Emergency Unemployment Compensation benefits claims in the May 1 week, bringing that category to 5,101,246. Extended benefits claims rose by 21,419 to 240,260 not seasonally adjusted.

So somewhere between 95k and 57k people fell off the back end, and became 99ers?

(According to the 60% unemployable after 28 weeks theory, considering how close to end of U/E benefits... expect the most unemployable to still be on the extended benefits, so closer to 97K)

And we can now expect this every week until at least the November elections.

25 weeks and something around 80k off the backend of emergency U/E a week... 1,400,000 to 2,500,000 workers plus their dependents is a huge voting bloc, ....


Thu, 05/20/2010 - 09:26 | 362800 Mitchman
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The disconnect with the election results is the most interesting part.  The unemployment report highlights the fact that there is still a great deal of pain being felt out there.  Yet, in most places, the more liberal and "old politics" candidate won.   Ron Paul's son was the only one who had a true "throw the bums out" message to his campaign.  Specter's replacement is straight from the Democratic machine.  I am afraid we may not get a lot of relief from these dismal statistics and the dismal performance of Washington come November. 

Thu, 05/20/2010 - 09:46 | 362858 Psquared
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Morning Joe: "the unexpected increase is due to the number of people now actively looking for jobs because the economy has improved so much."

Spin on ...

Thu, 05/20/2010 - 10:49 | 362939 Instant Karma
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Is this a double dip, or, a stair case down?

It looks like the Obama Administration's policy of bashing business of any type, ramming through unpopular business stifling social programs such as the health care "reform",supporting organized labor at any cost, and supporting illegal immigrants at any cost, is, well, not a successful economic policy.


Thu, 05/20/2010 - 11:34 | 363030 Grand Supercycle
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