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Initial Claims Surge To 445K, On Expectations Of 410K, Not Adjusted Claims Surge By 191,686 To 770,413 In One Week
So much for that amazing beat in the last 2010 number in initial claims, which is now proven to have been purely a figment of the BLS' imagination and a whole load of guesstimations. Today's initial claims number throws cold water to all those who expected the trend in claims to be improving. At 445K, this was a huge miss to expectations of 410K, and a major deterioration from last week's (upwardly revised of course) 410K (was 409K before). Elsewhere, continuing claims came at 3,879K on expectations of 4,088K (with the previous naturally revised higher as well from 4,103K to 4,127K). And the kicker: in NSA terms initial claims were a mammoth 770,413, a 191,686 increase in just one week, and the highest NSA number in one year! The result: the spread between SA (3.1%) and NSA (3.8%) unemployment rate jumps to year highs. Of course, the BLS blames the huge disappointment on "paperwork delays", yet blamed nobody for the amazing beats in the end of 2010 which brought the market to a complete frenzy.
Lastly, completing the trifecta of bad data, those on various forms of extended claims jumped by 130K, confirming that we are nowehere close to dealing with the "99 week completion" cliff issue, as ever more people roll off continuing claims.
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jobless recovery, buy the dips, trust your Banker Gods...
dump your shorts this means DOW up 200 on QE 3, 4, 5 expectation!
Sorry to say but the crowd must first get it's show and Benny B. needs a example of "you see, I told you so".
So the markets will soon go down first, followed by a circus in Washington to raise the debt ceiling and when the markets get the cue that the taxpayers swallow it as a must do this thing and after the obligatory monkey show, THEN the DOW will go up 2000 points.
needless to say, selling now is just a waiste of time.
I think youre likely right, the american sheeple herd are due for another round of chaos and panic, theyre getting a bit too uppity and knowledgeable watching those talking bears!
Known in the 'biz as sheep shearing.
Gather thy flock.
I agree if there is enough tough talk on raising the debt ceiling we'll get a flash crash.
on second thoughts...they are getting out a lot of negative news from the US ...maybe trying to prevent the $ from going too high....
Negative news? Negative?
Mayhaps a bit too kind a description, but then again I'm just a cynical realist for all intents and purposes.
I mean "paper work" delays? The only fucking institutions processing paper are goober-mental.
Ah, efficiency deluxe.
A reason for additional sacrifice to the Mt.Etna gods of public sector efficiency.
QED galore.
Last paper work delays I remember were over labor day with states not reporting data.
This to say they were too drunk at holiday parties with our tax money buying the rum to actually type it out?
we'd be better off with trained monkeys at this point.
+1 :)
Jobless claims UP- green shoot.
Joblessness, and temporary UE for those who qualify: It's what's for Dinner™.
PPI jumped aswell...
Perfect excuse to load more silver and gold...
They cannot avoid increasing Monetary offer, so raising hard assets price as collateral....easy.
Gold and Silver responding with a nice lift.
"To infinity.........and beyond." :>)
what flav is yo kool-ade?
Ah, yes, the Obama funeral brand. T-Shirts in Blue/White.
"Ah, yes, the Obama funeral brand. T-Shirts in Blue/White."
You missed the motto printed on the T shirts at the funeral:
"together we thrive"
Who is the "WE" ?? referring to
my guess: Banksters and Pols.
Wrong Color CD
Obummer is pushing "Green Shoots" Lime Kool-Aid...
the person who junked you was guzzling the kool aid while doing it
Dollar goes down, gold goes up! What do the bureaucrats think they're achieving out of the destruction of the country?
I think they're 2/3 ignorant and 1/3 malicious.
Cos Blizzards,
...again the problem is Munibonds...and all those corporations that income depends on Subgovernment, Government Contracts...
Honestly i think SP must have a 5%-10%, we are too optimistic and the divergence between main and wall street is not huge is abysmal.
One can only wonder what the REVISED number is going to look like?
Indeed. However, I wonder what the *real* number is, and if we will ever get to see it.
Edict From the Department of Numbers:
There will be no further revisions...
Oh bad news.... BTFD as futures will be pushed back up again, who cares about people, it is all the free money and POMO and QE3
QE3 wont be for Equities...
Will be for Municipal Bonds, watch out that.
Munis might be QE4. QE3 might be directed moreso at the ailing housing market in the form of MBS purchases.
Hehe
Its seems like
Saw I
Saw II
Saw III
Saw IV... Scary:)
the new one is Saw 3D i guess...
imagine QE in 3D...
If you want to see a trailor for that one, you must do the following:
1. Take a 100 dollar bill (that looks pretty 3D already right?)
2. Tear it up into 50 pieces
3. Result: You now have 50 "100 bills" that are worth 100 dollars buy look like 50 x 100 bills.
You can try the same with a silver penny, but it won't work. I don't know why...
Cool he?
Followed by QE3 in 3D with Smell-O-Rama (and it will smell like shit!).
won't happen til its denied 3 times. 2 to go.
Expect markets to magically close green.
Look for Harry (a.k.a. ZH's fabricated identity) to try and stir the pot.
Look for Robo (a.k.a. ZH's fabricated identity) to try and stir the pot.
First junk of the day. Nice!
Maybe John Law is one of the more honest people on this forum...
http://www.lyricsmode.com/lyrics/s/sahara_hotnights/only_the_fakes_survi...
Looks like John Law struck a nerve...
And the market could care less.... upwe go ...again BTFDYFI...LOL
http://www.dol.gov/opa/media/press/eta/ui/eta20110023.htm
550k coming within the year. Those newly created "jobs" are hanging on by a string just waiting for an economic shock..be it $4.50 gas or $2.00 MilkyWays.
Anyway rally on..Nothing some more leverage cannot fix.
NSA figures... jaw dropping!
Who didn't expect this?
If the market closes green today I am joining the French Foreign Legion.
The banksters and fraudsters need to keep the rally going in the hopes of luring in retail suckers to buy up all the inflated securities. Don't think for a second that the banksters and fraudsters have any intention of holding this bag. The Ben Bernank & co. want you to hold the bag.
At least then we can retire at 60!
Are you with the Legion? How hard is it to get in?
I have reached a stage in my (young) life where adventure means so much more than cash (but not bullion).
http://www.legion-recrute.com/en/
Write the French Embassy. You'll go to Marseille where they will slap the shit out of you for 5 days and if you decide to join it's off to 5 years of hard work, hookers, sardines and red wine. Kind of a combination weight loss clinic and french immersion....sorry, no Freedom Fries.
BTW, Biggus Dickus would be a novel Nom de Guerre, I suggest you keep it!
+1
makes me laugh this commentary, prepare to attack Algeria:)
Europe needs to bailout Gas Reserves:¡¡¡ GDF
The USD is getting absolutely routed (as reflected by the DXY) and stocks opened down a whopping 0.1% this morning - count on a green close for Fraud Street today.
The French Foreign Legion!!!
Outstanding, mate!
Do they still bury those who can't keep up in the ground, up 'till their neck, and let the hyenas and jackals finish them?
You'd think that someone in government with decency and integrity would be screaming from the roof tops that QE1, QE2, etc just has not worked to deliver the promised higher employed and must be stopped now!
Printing money has only, by design, imprisoned people more by causing inflation in food, oil, etc.
Just goes to show there is no one with decency in government, they are all in on the scam, they are all bought and paid for and working towards the agenda of destroying the populous.
Ron Paul talks all day about the FED being the problem and ending the FED, but days, weeks, months, years go by and the FED is still there and still on the rampage of destruction.
Ron is a shill. The FED and their overlords have mastered the art of psy-ops to a level that is beyond quantic game theory.
Yes, unfortunately, i think Ron Paul and his son are all prepared for d-day and have already got their members tickets for the underground complex at Denver airport.
'Psy-ops' lol yea sure everyones fooled...in a trailer park maybe. This 'fooling' mastery is nothing but a kid standing in the middle of the room of adults with his hands over his eyes thinking no one can see him.
He is indeed a steam-valve: a "safe" way for the "opposition" to be controlled.
And another thing they love is when these idiots buy the crap that the government is 'incompetent.' All of this is by design and much of the country is busy watching orange dumbass sub-humans in New Jersey.
Don't get your hopes up that the Republican Party will give Ron Paul much lattitude to attack the Fed. The most we are likely to see is a few testy verbal exchanges... and the Fed will continue to act as it pleases.
He's the only voice of opposition. At least we have that.. But then again, given the ignorance of the vast majority of the population we have the politicians we deserve.
There are only a few possibilities to this situation. One, the government is truly ignorant to the effects of all this stimulating and will be shocked when oil is back to $150/barrel. Two, the NWO is pulling the strings behind the scenes to place even more people in poverty so they will finally submit. There are other scenarios but unfortunately those two appear the most likely in my opinion at this point.
You are adding too much. QEs were sold as a way to maintain a status quo. Not really as a way to improve the situation, more like a way to avoid total disintegration.
"Not really as a way to improve the situation, more like a way to avoid total disintegration."
WTF; do you remember big O saying Pass the rescue and UE will remain below 8%????
The "rescue" he promoted did not invlove quantitative easing. That was a stimulus package approved by congress with spending originating from the treasury.
QE is a monetary policy implemented by the Federal Reserve and does not require any input from the legislative or executive branches.
You are correct in noting that both the stimulus package and QE programs by the Federal Reserve have been failures based on the very benchmarks defined by those who implemented the programs.
But we should expect more of the same without regard to elections or program success. It is what it is and we are who we are.
The market will continue to rally until the Fed stops the rally and that will only come with a stopping of QE or a rise in interest rates. Earnings are going to be good enough to keep things happy for a few quarters yet.
No Mas, agree with your sucinct post..better than many much longer articles on this subject.
only to nit pic:" It is what it is and we are who we are." "It "is not what "it" is purported to be in the press/msm..nor am I and many here on ZH the "we" of who "we "are.
TD has put a spot light on the we of QE..banks
ins co. elite of business mr buffett and his ilk.
the IT,,is the system that the fed and wall st prop up, when IT falls..the deluge
The main bullet point of Q/E was it was guaranteed to fix unemployment, we'd see the benefits immediately.
"The main bullet point of Q/E was it was guaranteed to fix unemployment, we'd see the benefits immediately"..
but "TOGETHER WE THRIVE"..O's new motto.
the motto seen with "they live" glasses is..
" Corrupt elites will Thrive"
Tshirt should read "I'm With Stalin--->"
RE: "Printing money has only, by design, imprisoned people more by causing inflation in food, oil, etc."
Correct! Except you missed one element of the design goals: making the rich richer... and the destruction of the middle class.
In fairness it should be added that the middle class has been foolishly co-operative in this process over the last several decades by standing-by while both parties became shills for other interests.
What are decency & integrity?
Those concepts are under review to be banned.
Prosperity is here!
A Volt in every driveway, an EBT card in every pocket!
Stocks are now a sell IMO. POMO or no POMO we are headed down big from here. Sell stocks, bonds, PMs. Long oil and dollar.
Mark my words.
No
never mind!
All these idle hands make me bullish on cannibalism. How do I invest in this? Monsanto?
Undertaking Companies, Funeraries and Jails....
Yes, those would be the GMO corpses (most of us if we don't eat organic only). You may also wish to invest in in Big Catsup.
I'm long riot gear.
I'm just plain long.... (ask my wife).
http://www.nakedcapitalism.com/2011/01/matt-stoller-understanding-the-st...
By Matt Stoller, the former Senior Policy Advisor for Rep. Alan Grayson. His Twitter feed is @matthewstoller
Since the 1970s, Democratic elites have focused on breaking public sector unions and financializing the economy. Carter, not Reagan, started the defense build-up. Carter, not Reagan, lifted usury caps. Carter, not Reagan, first cut capital gains taxes. Clinton, not Bush, passed NAFTA. It isn’t the base of the Democratic party that did this, but then, voters in America have never had a lot of power because they are too disorganized. And there wasn’t a substantial grassroots movement to challenge this, either.
Obama continues this trend. It isn’t that he’s not fighting, he fights like hell for what he wants. He whipped incredibly aggressively for TARP, he has passed emergency war funding (breaking a campaign promise) several times, and nearly broke the arms of feckless liberals in the process. I mean, when Bernie Sanders did the filiBernie, Obama flirted with Bernie’s potential 2012 GOP challenger. Obama just wants policies that cement the status of a aristocratic class, with crumbs for everyone else (Republican elites disagree in that they hate anyone but elites getting crumbs). And he will fight for them.
There is simply no basis for arguing that Democratic elites are pursuing poor strategy anymore. They are achieving an enormous amount of leverage within the party. Consider the following. Despite Obama violating every core tenet of what might have been considered the Democratic Party platform, from supporting foreclosures to destroying civil liberties to torturing political dissidents to wrecking unions, Obama has no viable primary challenger. Moreover, no Senate Democratic incumbent lost a primary challenge in 2010, despite a horrible governing posture. Now THAT is a successful strategy, it minimized the losses of the Democratic elite and kept them firmly in control of the party. Thus, the political debate remains confined to what neoliberals want to talk about. It’s a good strategy, it’s just you are the one the strategy is being played on.
A lot of people think that Obama is a bad poker player, but they miss the point. He’s not playing with his money, he’s playing with YOUR money. You are the weak hand at the table, he’s colluding with the other players.
There are parts of the Democratic elite that don’t believe in neoliberalism, but they are a modest portion of that structure. So often what comes out of the party is garbled. Most Democrats support our reigning institutions, they believe in paying taxes, they believe in government power. Given a choice, they’ll grumble, but they are more willing to believe that this government is good than to support structural change. By contrast, the Republicans are unified in their desire for a more brutal and more plutocratic though otherwise unchanged institutional arrangement.
This makes the GOP seem more committed, more professional and more change-oriented. This isn’t poor strategy or coordination from Democratic elites. The lack of willingness to fight on behalf of the public isn’t the same of an unwillingness to fight. It’s just their unwillingness to fight anyone but you.
more partisan crap from nakedcapitalism? the two 'parties' are merely two heads of the same evil beast. Yves fell in lockstep with Krugman, trying to correlate Giffords' shooting as a partisan act. That blog is only good for the links... if that...
jomama
"the two 'parties' are merely two heads of the same evil beast."
Umm dude, that's what the post said.
Read it again, or as many times as you need to understand just what is being said.
Simply put "Government is the tool of the elite." For 1/2 of 1 percent of the population to have acquired the wealth they posses and to accomplish this you need a tool to manage, control and extract.
"voters in America have never had a lot of power because they are too disorganized."
That is exactly right and necessary for the system to work. Lastly, there is no real difference between Dem. elite vs Rep. elite vs neo liberal elite vs neo..........elite. The group as a whole share one (1) and i mean ONE objective MAINTAIN THE STATUS QUO.
Oh this was just awful. Food/fuel prices increasing...those poor families.
this was the week with the highest SA adjustment too. If this continues, next weeks SA number will be huge.
Jobless with a hot ppi.. oh yeh. Riots over basic foodstuffs.
Bulls remain in charge.
Note another big gap up in STD and BBVA this morning.
Gold getting slapped around again.
Restaurant stocks like CAKE up again.
Casino stocks like WYNN up again.
The tape is getting stronger, not weaker.
NYSE Summation Index still grinding up.
Right on time, ZH...
Robo, I hope your pot stirring actually generates "sticky eyeballs" for this site. Despite your endless prattle, this is a decent site.
While Robo, Harry and others might act as chum for ZH regular commenters, if you study the site traffic by various parameters, the majority of ZH readers don't even comment and visit once or twice a day.
Zero Hedge is now regularly mentioned on several news aggregators and blogs. So people are coming in, looking and leaving. I receive 4 of these aggregators a day and ZH is mentioned at least once in each, something that wasn't the case 6 months ago. The ZH comment section doesn't necessarily represent the average ZH reader.
http://www.alexa.com/siteinfo/zerohedge.com#
Interesting. Thanks for the link.
The significance of "chum" is it creates sticky eyeballs (i.e. people that engage one another on the forum where the ads appear prominently). You can bet that entities who pay for adspace care about eyeball stickiness. As far as chum goes, I don't know how anyone here can read what Harry has to say and think Harry is a real person. Oh, well. Gotta pay the bills.
As a contributor here the only piece of information I can see about the ZH site that others can't are the number of "reads" each article receives. I've been watching those numbers for over a year and a half now and it's obvious that the number of comments, and more importantly the number of unique commenters, is rarely more than one tenth the number of actual "reads" for each article.
Controlling for the fact that the regulars regularly click and re-click on an article to update the comment section, that still means well over half of the people reading the articles don't comment. This is backed up by the public information about page views, unique page views and so on.
I have no doubt that controversy is desireable to Tyler and ZH to drive page views. I don't dispute that. All I'm saying is that it doesn't appear to be a large portion of the overall traffic. I also don't dispute I could be wrong.
If you don't feed the trolls they tend to go away, but my isn't it hard to not give them $hit for they're fantastical views.
CD, how does this alexia.com know these
Audience Demographics for Zerohedge.comwhen you and i and even the tyler's don't know what their names are or ages, gender, or if married or have children and even the stats on education. how can this be interpreted with any truth? who do they pole to get these numbers. everything is anonymous.
velobabe,
Same question to Cog Dis.
How do they know I am one of 3 ehtnic minorites here, under 12?.
Velo, only way I can figure it, is thru ISP's.
I suspect it has more to do with matching browser cookies you are carrying around with you wherever you travel on the web as well as data the actual web site and web site host collects. But I don't know the actual methodology they use. My disclaimer was that I could be wrong.
I do know that the advertisers rely on these so called "third party" measurements when deciding if their dollars are being spent wisely. So either it's a grand scam (remember all those "click" scams) or there is some truth to the numbers. If it was a scam, after a while the advertisers would notice their money was wasted.
Well we all know Wall Street disconnected from mainstreet a while ago. POMO pump might get turned on a bit higher.
JUST STOP IT
Perfect time to sell. Huge margin compression underway. We will see poor earning soon that will last for a while. Along with massive deflation.
This was noting more than a pump up to try to cushion the upcoming collaspe.
Long oil, dollar, ag.
Sell stocks(especially mid & smallcaps), PMs, bonds.
Hope you're right, we should have had a correction months ago.
I agree, but I've been wrong for a while.
Hindenburg Omen still in effect until Jan 25th.
Up near the TOP -- you gotta PUMP, before you DUMP
Yup, slapped up to $1391.9.
Slapping bitchez
'Bulls remain in charge'...who is that, Bernanke and SackFrost? Your babbling is ultra worthless.
Not only are you wrong but you're FOS
The Yakov Smirnoff of ZH. Just one routine. And even that one ain't very funny.
No worry. When the final monthly figures come out, the "seasonal" adjustments will take care of this number.
Brian will buy-buy and buy...It won't break...NY FED to the rescue... stocks are a BUY...joke...
Rosie is gonna be right real soon. Imagine the tax hike needed by the Federal government to normalize fiscal imbalances... it will be comparable to the Illinois tax hike on a national scale.
So you got corporates sitting on piles of cash, hiring no one, and tax hikes are gonna just kill revenue growth. I’ve never seen a stronger case for IG bonds at short duration.
Add to that all the headlines about inflation and spikes in food and fuel just guarantee that interest rates will be going up near term in EM, probably everywhere. No democracy can stand if a mass of voters are starving. That bubble, as all do, is gonna bust.
euro going parabolic!
And another
http://www.bostonherald.com/business/general/view.bg?articleid=1308924
State wants $ back as Evergreen Solar exits, slashing 800 jobsThe Patrick administration blasted Evergreen Solar Inc., which announced today it’s closing its Devens factory and laying off 800 workers, and a top official said the state will try to get back tens of millions in subsidies from the company.
Evergreen, a Marlboro-based solar panel maker once considered a clean-energy darling of Gov. Deval Patrick, has been steadily shifting jobs to its facility in lower-cost China, but until today had indicated its Massachusetts operations would continue.
“We are disappointed to learn about Evergreen Solar’s decision to close its Devens facility,” said Greg Bialecki, the state secretary for housing and economic development. “The company has worked hard to compete against heavily subsidized foreign competition and to live up to its commitment to the Commonwealth. For our part, we must now ensure that impacted workers receive the resources they need to make successful transitions. And we will be actively working to recover any and all dollars owed to the Commonwealth through the clawback provisions of state grants, which require repayment if job commitments ar not met.”
Evergreen received tens of millions of dollars in financial support from the state two years ago, when the Devens plant started operating.
CEO Michael El-Hillow said another drop in solar panel prices forced the company to scrap its Devens facility.
“Although production costs at our Devens facility have steadily decreased, and are now below originally planned levels and lower than most western manufacturers, they are still much higher than those of our low cost competitors in China,” El-Hillow said in a statement.
“As industry selling prices continue their rapid declines into 2011, panel manufacturing in Devens, either fully or partially, is no longer economically feasible, consequently requiring a complete shutdown of the facility,” he said.
Evergreen Solar said it will keep open a facility in Michigan.
Another "winner" plied with my tax money by Coupe Deval and this geniuses of the Massachusetts General Court.
Assholes.
Green fraud bring you the finest fraud with the finest superficial exterior motives.
http://www.youtube.com/watch?v=aWEnqC1uPu0
China loves it. They spend 0 on R&D. They let the dumb Americans spend billions on R&D and just rip it off with low cost production.
For now. Tariffs, tariffs, tariffs, before our entire country dies. WTF why don't they get it? China has no OSHA, benefits, labor restrictions. How the hell are we supposed to compete without tariffs.
companies go through the motions for only as long as the subsidies can support executive bonuses. Once those monies expire, then it's down to the hard business of transforming former employee salaries into bonus checks.
This NFP thing is confusing the machine. They must fix it. Sorry, I forgot, The 4 POMO guys are on it. Jusy a minor glitch. Rally on
The word you'll hear more and more is "Structural Unemployment" .
I like to call it simply Downsizing. Not just one company. The entire US economy.
ANd the kicker is: it was all a matter of policy back in the 1980s. Here's the result.
haha
another chance to buy the fucking dip!!
Today's Biflationary News (so far):
-Employment: Down
-PPI: UP.
Stay tuned, bitchez, as every new revelation just keeps on confirming it.
Only GOld can protect your buying power which is being crushed in a deliberate and planned way
Gubmint cheese!
Today's NYTimes head line:" WE HAVE NOT SPENT ENOOUGH"
Bernak fire up those FRN's
QE weeeeeeee
Now here is a question: why aren't the folk at the BLS fired? Seriously, they have been missing their EVERY FORECAST [later revising]! It would seem that cleaning out the BLS would be an easy one, something EVERYONE could understand and get behind.
But of course...I know the answer to my own question.....
We can't have a few more hundred/thousand people on the government dole so keep them on the government payroll...then again what is the difference between the dole and the payroll.
A GOP front frunner suggested a 200k cut in Fed Employees,respsonse then we would not have enough people to do the work.
Seriously, what work?,shuffling paper, sucking our tax teats, D.C. has more people on foodstamps than ANY one else in the nation.
More jobs available, and better median pay than any other state.
All Gvt of course,how do you have the most on food stamps, in the best District in America?,Do they give those to Federal emps also?
What a disgrace.
Uh, DC the city is predominantly black, average level of education is like 4th grade.
The people who work for the government most often do not actually live in DC.
havent they had a pay freeze for a couple years - might as well be fired.
Nope, that was just started.
Not gonna end well
Charting a couple years from DOL here http://www.workforcesecurity.doleta.gov/unemploy/claims.asp, you'll see that the non-adjusted data for Jan 2008 and Jan 2009 have big spikes similar to this month, last year's spike being 815K so 770K is looking somewhat less.
does 7" in the a$$ hurt less than 12"?
Isn't it hard to imagine that every week, on average, more than 400,000 employees lose their job? Not quit, not lost it the week before, not given notice -these are supposedly "1st time filers". That adds up to 4 million every 10 weeks, 40 million by 99 weeks. How can this be? Losing a job makes it damn hard to get credit even if you get rehired the next day and have perfect credit. There must be a lot of people who file just for the hell of it and claim they just lost their job or are hired and fired like Billy Martin was with the Yankees because 400,000 every week makes no sense.
Obama creepin me
Obuma at the funeral..symbolic is it not??
Johnny on the spot at the funeral.
How long did it take Obama to find the time in his golf game to show up for the gulf oil spill?
I was impressed with his ability to make 'Gabby' awake from her coma.
Perhaps he could visit the 6 gravesites and pull off a Lazarus for those families?
Except in Cook County where they resell the graves - he might "wake up" the wrong person!
Bah, what's 35K? B(l)S statisticians can roll that number into the "happily watching T.V. and not working and loving it" category before their first 2 hour smoke break.
take a look at how gold and silver are shooting up on the news!
where do they get these initial fraudulent numbers from....does some just think they are playing the daily lotto ???
They randomly pull numbers out of their asses at Bohemian Grove.
no big deal, probably voluntary terminations, headed for executive positions in the near future.
Stocks are going up, why would the momentum stop ? Smart money is getting out of bonds that bull market is over.
Unemployment at this level is the new normal because the government just pays food stamps and unemployment to keep the peace. Unemployment is a problem for the country but not for the equity markets.
George, you're watching too many Cramer re-runs
I told you Turd, DXY taking a swan dive. And...you were worried, ha ha.
No matter the Bitch is slamming the PM's,with this news, add that to the DXY, we should be at 1400/31.50.
Sorry bitches,all the Pac Rims and India are paying WAY over norm Prems for the metals, here the prices stay rangebound, how funny is that.
QE1: Banker bubble bailout (bonus stamps)
QE2: Virtuous bubble bailout (asset stamps)
QE3: State / Muni bubble bailout (babs stamps)
QE4: MERS fraudbubble bailout (fraud stamps)
QE5: Student Loan bubble bailout (loan stamps)
QE6: Commodity bubble bailout (gasoline stamps)
QE7: Housing bubble bailout (mortgage stamps)
QE8: Bullish Troll bubble bailout (prozac stamps)
QE9: Luxury Goods bubble bailout (pawn stamps)
QE10: Shanty Town bubble bailout (tent stamps)
......
I am thinking about diversifying into the shanty production business.
These are not your average shanties, folks.
They are well insulated, have fixed windows, and come prepped for water and utility hookups.
I see a bright future.
According to the Green Jobs law, each shanty must have government approved solar panels.
Come with SOLARS?,answered my question.
Keep in mind, initial claims are a leading economic indicator as defined by the conference board. The current level of unemployment is a lagging indicator, but initial claims are a leading indicator. If initial claims pop above 500,000, GDP growth estimates will start coming down. And yes, if that happens, hello QE3, 4, etc.
400,000+ claims weekly for last 2 years...theyre running out of people to fire!
Will someone do a video montage or a quote montage from the past 2 years where the talking head says "unexpected" when talking about crap employment numbers ? It would be eye opening.
Even mark "jabba the hut" haines rolled his eyes when he had to read "unexpected rise" in unemployment again this morning in his teleprompter.
Look at history of the NSA data series. There have been spikes in the data EACH January, whether the first/second week depends on the calendar. This gets reversed by the end of the month....so we'll have to see if it stays higher (worry) or reverts back to recent "normal" levels. I'm not making a judgement of the data, just reporting what has happened in the past....