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    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

January State Unemployment Update: Unemployment Rate Increases In 30 States With California Back To Record

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Wed, 03/10/2010 - 11:54 | 260545 HarryWanger
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Nevada, SC, California all high due to snow storms.

Wed, 03/10/2010 - 12:33 | 260600 Anonymous
Anonymous's picture

This is true for California!

Everyone took off for Tahoe when the snow hit.

Wed, 03/10/2010 - 12:36 | 260606 Whizbang
Whizbang's picture


Wed, 03/10/2010 - 12:47 | 260632 deadhead
deadhead's picture

harry gets post of the day.

Wed, 03/10/2010 - 14:14 | 260756 merehuman
merehuman's picture

high in Oregon. We grow our own.

Banks must be smoking something else.

Wed, 03/10/2010 - 16:31 | 260919 VegasBD
VegasBD's picture

It snowed here in vegas yesterday...

Wed, 03/10/2010 - 16:42 | 260941 Mr Lennon Hendrix
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Wed, 03/10/2010 - 16:27 | 260912 faustian bargain
faustian bargain's picture

Who would've guessed North Dakota would have no snow in the winter. Amazing.

Wed, 03/10/2010 - 18:30 | 261106 Anonymous
Anonymous's picture

Ha, I'm sitting here in North Dakota preparing for another round of spring flooding due to the excessive amount of snow we received! The weird thing about us boobs here in ND is that we find that winter (i.e. snow) always creates additional work. Not only do we have to go about our normal work routines, but we also have to find time to move the snow. (Or hire somebody else to do it.)

It never dawned on us to simply quit working and/or lay off our employees and wait for the snow to melt! (I already said we were boobs.) Maybe that's why Larry Summers is such a noted genius and I'm simply a debt free boob living in ND!

Please excuse me, I have to go back to my flood prevention preparations.

Wed, 03/10/2010 - 22:15 | 261303 Mad Max
Mad Max's picture

Ya know, I have been tempted by North Dakota.  Drove the whole state in October, and apart from the severe snowstorm, it was nice.  Oh, the eastern 50 miles is flatter than a euclidean plane, but the western part is much more rolling and nice.  I would probably move there if it weren't for the floods, the 8 months of winter, or being 500 miles away from anything.  The ND state bank seemed really kooky until a year ago, when it started to seem like a really great idea that every state should have.  Might still move there someday depending how the country is 10 years from now.

Wed, 03/10/2010 - 11:55 | 260547 Dixie Normous
Dixie Normous's picture

Here in CT, the headlines read unemployment highest since 1976.

Yet almost every single town is raising taxes to pay for the bloated education beauracracy.

I'm sure other states are in similar situations.

Something's gotta give.

Wed, 03/10/2010 - 12:10 | 260566 10044
10044's picture

Elect Peter Schiff, you'll be good after that

Wed, 03/10/2010 - 12:32 | 260596 Dixie Normous
Dixie Normous's picture

I will, but I'm headin out the door too.

There is no way states like CT, MA, NY, NJ, CA, and who ever else can keep paying into the education industrial complex.  The numbers don't add up and never will.

Wed, 03/10/2010 - 12:50 | 260637 deadhead
deadhead's picture

6 months ago i told my wife that sometime in 2010 she would see tv ads (i rarely watch tv) blanketing the channels from the teachers union crying end of the world over education cuts.  yep, i was right.  


i still think the Cali direct ads to retail for their bonds does take the cake though.

Wed, 03/10/2010 - 16:30 | 260917 faustian bargain
faustian bargain's picture

Did you know that last week, they did a statewide 'protest' of the Dept of Education budget cuts, with many public school teachers actually taking their kids out of the classroom and marching them around outside the school with signs. And not just high schoolers. I saw an elementary school doing one of those demonstrations. They start 'em young out here.

Wed, 03/10/2010 - 13:03 | 260654 Mad Max
Mad Max's picture

Never heard the term "education industrial complex" before, but it seems appropriate.  Mish has had some good recent posts on that topic.  The whole system is imploding.

Wed, 03/10/2010 - 15:45 | 260861 Cognitive Dissonance
Cognitive Dissonance's picture

I left CT over a decade ago and fled to a much lower tax state. Never looked back. When Mohegan Sun and Foxwoods were touted in the papers in 1997 as the premier growth opportunities for the next 20 years I realized it was time to exit stage right.

You don't raise a family on the money earned from dealing cards or cleaning slot machines. The state has been all down hill since then, other than the southwestern CT playground area for NYC. Even Hartford looks terrible the last time I visited friends in the area.

Wed, 03/10/2010 - 18:04 | 261062 Dixie Normous
Dixie Normous's picture

Left FF county a few years ago.  Gradually working my way out of the state.  Hartford looks alright, for a war zone.

Exactly right on the card dealers supporting families.  But you don't even have to go that low on the pole to describe the fleecing of the populous: how is say a plumber or electrician supposed to support local budgets that cost $4000 per man, woman and child every year in property taxes plus all the other fees taxes and thievery

I know other states are the same and worse, but this shit needs to end soon.

Wed, 03/10/2010 - 12:35 | 260604 Anonymous
Anonymous's picture

Asstoot observation , clearly a fiscal conservative would fuck things up huh.

Wed, 03/10/2010 - 12:37 | 260609 SimpleSimon
SimpleSimon's picture

Do all you can to cut tax revenues legally.  Starve the beast until it dies. 

Wed, 03/10/2010 - 13:37 | 260700 pbmatthews
pbmatthews's picture

Amen brother.

I've been saying this for six months.

Starve the government.  Stop spending.  Defer any tax payment you can so that tax revenues continue to collapse.

Only when the collapse is upon us will the sheeple wake up to the reality that government is too bloated and MUST BE CUT.

Wed, 03/10/2010 - 14:14 | 260757 Dixie Normous
Dixie Normous's picture

If the majority of people didn't pay their property taxes with their mortgage they would get fired up when they got the first bill in January followed by budget increase debates in Feb and March.

However, since they don't see it clearly they just chalk it up to paying for their house with the dream that they will sell when the kids leave for college and be rich.

Wed, 03/10/2010 - 15:02 | 260811 Real Estate Geek
Real Estate Geek's picture

Which is why the PTB set it up so that your payment covers PITI. 

Of course the PTB also came up with payroll withholding for the same reason.  Now the sheeple are happy to get their tax refund check.  "Gee, Mabel, let's increase our withholding so that our refund check's even BIGGER next year!"


Wed, 03/10/2010 - 14:40 | 260782 carbonmutant
carbonmutant's picture

The beast is gonna howl when the April tax revenues show up.

Wed, 03/10/2010 - 14:16 | 260759 augmister
augmister's picture

You want to see real education bloat?  Courtesy of the University of Illinios...http://market-ticker.org/archives/2062-IF-You-Are-Going-To-Demonstrate.....html

Your next door neighbors, in the Socialist State of RI have almost 80,000 unemployed in a total population of about 1 million blue lemmings.   Now these "workers" qualify for the 99 months of living large on the Obama dole!  Just like Havana... stay home and play cards on the hoods of abandoned vehicles in your own front yard.  Wonderful for State revenue collection!    You can only laugh at the underfunded state pension systems for teachers and state government (worker) do nothings... as long as you are not one of them!  BTW, the State Legislature will bankrupt everyone left standing when they try to fund their union friends' "wet dream" of a retirement.....  Hope everyone takes up vegetable gardening and hen raising this summer!

This will not end well.... bought a nice .45 Springfield Armory 1911 yesterday, to keep our own tomatoes safe!


Position:  Long pitchforks and torches and .45 ACP

Wed, 03/10/2010 - 11:55 | 260549 monmick
monmick's picture

The 10yr auction this afternoon won't be pretty...

Wed, 03/10/2010 - 12:32 | 260595 Anonymous
Anonymous's picture

It'll be fine, actually. Treasuries are one of the primary investment vehicles in which banks currently invest, rather than loans.

Leadership. Morals. What's my cut?

Wed, 03/10/2010 - 12:02 | 260558 John McCloy
John McCloy's picture

Me: (Coughs feebily)..lights fading..resolve to stay short decreasing.Too many low volume pumps and temporary rumors.

Wed, 03/10/2010 - 12:09 | 260564 irieblue
irieblue's picture

The Cruel Joke on California happens April 1st, when NUMMI closes and estimates of 20,000 to 50,000 jobs are at risk..


Maybe Congress hopes a shakedown of Toyota into keeping NUMMI open is in order.

Wed, 03/10/2010 - 12:09 | 260565 Internet Tough Guy
Internet Tough Guy's picture

North Carolina is not a new series high.

Wed, 03/10/2010 - 12:16 | 260571 bugs_
bugs_'s picture

Should start using Downdate instead of Update.


Wed, 03/10/2010 - 12:22 | 260581 BlackBeard
BlackBeard's picture

Michigan's UE rate implies MadMax.  Got black leather?

Wed, 03/10/2010 - 12:29 | 260591 Mad Max
Mad Max's picture

I heard my name?

BTW I think real unemployment in Michigan is well over 20%.  And I guess the foreclosure rate is somewhere over 10%.  What a wonderful combination.

Wed, 03/10/2010 - 14:42 | 260789 Shameful
Shameful's picture

Word around the campfire is that in Detroit the real unemployment is about 50%.  Our own little slice of the 3rd world!

Wed, 03/10/2010 - 12:22 | 260582 SDRII
SDRII's picture

But but Brian Westbury says we will create 300K jobs, surely he can't be wrong 

Wed, 03/10/2010 - 12:31 | 260593 Anonymous
Anonymous's picture

Americans are quick learners -
Vornado walking away from one of its properties.
Commercial borrowers beginning to walk away (article today)

Wed, 03/10/2010 - 12:33 | 260598 Anonymous
Anonymous's picture

thats when we Bury Brian with the other Brian (Sack)!!

Wed, 03/10/2010 - 12:35 | 260605 zenon
zenon's picture

Headline on Bloomberg: Unemployment Still Falling in Many States (!)

Later on they say (with a softer voice) that it actually increased in 30 states and fell in 9!

How's that for objective reporting?


Wed, 03/10/2010 - 12:51 | 260639 deadhead
deadhead's picture

how funny...i made my comment below before reading the thread.

Wed, 03/10/2010 - 13:01 | 260642 hedgeless_horseman
hedgeless_horseman's picture

I was wondering if somwhere a crafty lawyer is working on a class-action lawsuit against the news services for fraud.  Hard to sue the government, not so much Bloomie, Teddie, Micky, and even Ruppie. 

Wed, 03/10/2010 - 13:31 | 260687 Al Huxley
Al Huxley's picture

So, 9 is 'many' isn't it?  If you all would just get with the program and think happy thoughts instead of focusing on all the irrelevant details everything would be so much better.  Look, economy must be fine - look at the markets, breaking out all over.  So the temporarily unemployed will just have more time to enjoy the recovery that clearly must be in progress.

Wed, 03/10/2010 - 12:41 | 260616 E pluribus unum
E pluribus unum's picture

Hard to see how he gets re=elected in 2012 with these kinds of numbers - CA, NC, MI, GA, FL, are all pretty ugly

Wed, 03/10/2010 - 13:02 | 260653 Mad Max
Mad Max's picture

This November should be interesting.

It's not that I have anything good to say about the "Republicans" (the whole damn party is RINO), but the Democrats are so unspeakably terrible, I hope and expect they'll get spanked badly.

Which leaves us with either more of the same crap, disguised as change (hmm, sounds familiar, at least to the more gullible voters) or what?

Wed, 03/10/2010 - 16:38 | 260909 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

'08 was thrown; evidence....(im)palin....

...thrown so as to enherit US gov/corp in '12; after Fem Dems institute "economics" de jour.  Hegel is also to blame.  Faulty "philosophy" and "science" equals rapture, I guess.

PS note Hoover and Clinton ran on platforms of "CHANGE."  Got pennies?

Wed, 03/10/2010 - 12:44 | 260623 Anonymous
Anonymous's picture

Be forewarned, jobs reports the next few months will be great and CNBS will be touting how good the recovery is.

Of course all those jobs will be from the Census.

Wed, 03/10/2010 - 12:46 | 260628 Anonymous
Anonymous's picture

i live in SE Michigan and my guess is that real, unstroked UE is 25%-ish. mad max is not in town yet - he's scheduled to show up whenever emergency unemployment benefits end (as if!)

Wed, 03/10/2010 - 12:46 | 260630 deadhead
deadhead's picture

But, bloomberg headline says unemployment eased in 9 states.

it's sad that b'berg has decided to go the cnbc route and they clearly have.

Wed, 03/10/2010 - 12:49 | 260635 Anonymous
Anonymous's picture

The first 5 headlines on cnbc were fucking bearish and Bloombergen's first headline was "Unemployment dips in 9 states...uhh

Wed, 03/10/2010 - 13:18 | 260665 Stranger
Stranger's picture

This just in, unemployment rate forecast down based on optimistic outlook for club-wielding gang recruitment.


Wed, 03/10/2010 - 13:22 | 260670 jkruffin
jkruffin's picture

Anyone know where to find info on these so-called Cali bonds they are trying to sell today and over the next couple weeks.  I click on the link that ZH has up, but then the Cali website freezes when you try to pull up the PDF announcement.  Looking in Ameritrade, I see a ton of their bonds and if you ask me they are flat out nuts.  I see Baa bonds selling for $108 for interest rate of 5.5%  for old issues.   I want to know what the new stuff they are selling looks like.  They have zero information shown as to what the yield is expected to be or nothing.  No way I pay 108 for 5.5% of a BBB.  If it was like 9% I might think about.  Plus, this is bankrupt Cali we are talking about.  Who would buy that crap at those measly rates with inherent default risk out the ass??  Info anyone?

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