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Jobless Claims: 454,000 - Stagflation Baby (Confirmed By Durable Goods)

Tyler Durden's picture





 

Expectation of 405,000... Print: 454,000! Worst print in forever (well, October). The BLS calls it a "weather related backlog." Read - snow. Call it what it is - Stagflation, baby.

Non-seasonally adjusted number came at 482,399, as 161,913 people fell off extended benefits.

Continuing claims: 3,991K on expectations of 3,873K.

And just to complete the stagflationary picture, durable goods decreased by 2.5% on expectations of plus 1.5%, down from -0.1%. "This decrease, down four of the last five months, followed a 0.1 percent November decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders decreased 2.5 percent."

Note the level of deterioration: durables down from -0.1% to -2.5%, durables ex transportation to 0.5% from 4.5%; Orders non-defense ex aircraft: 1.4% from 3.1%... Bloodbath.

QE3 here we come!

The state by state breakdown is like the insider selling to buying ratio, only flipped, and very much made up.

STATES WITH A DECREASE OF MORE THAN 1,000 (unadjusted)


State

Change

 

State Supplied Comment

NY

-28,714

 

Fewer layoffs in the construction, service, and transportation
industries.

GA

-19,429

 

Fewer layoffs in the construction, trade, service, and manufacturing
industries.

NC

-16,132

 

Fewer layoffs in the construction, trade, service, food,
textile, furniture, rubber/plastics, and lumber/wood industries.

PA

-14,859

 

Fewer layoffs in the construction, service, and transportation
industries.

CA

-14,309

 

Fewer layoffs in the service industry.

IL

-10,155

 

No comment.

AL

-9,550

 

Fewer layoffs in the construction, service, and manufacturing
industries.

MI

-9,464

 

Fewer layoffs in the construction industry.

SC

-7,318

 

Fewer layoffs in the manufacturing industry.

TX

-7,190

 

Fewer layoffs in the trade, service, and manufacturing industries.

OH

-6,776

 

No comment.

WI

-6,640

 

No comment.

CT

-6,545

 

Fewer layoffs in the transportation and manufacturing industries.

WA

-6,228

 

No comment.

VA

-6,107

 

State offices were closed 1/14/2011, as well as fewer layoffs
in the manufacturing industry.

MO

-5,871

 

No comment.

IN

-5,608

 

Fewer layoffs in the automobile and trade industries.

MA

-5,317

 

Fewer layoffs in the construction, trade, service, and manufacturing
industries.

NJ

-4,579

 

Fewer layoffs in the construction, trade, service, transportation,
warehousing, and manufacturing industries.

TN

-4,576

 

Fewer layoffs in the trade, service, and manufacturing industries.

KS

-4,541

 

No comment.

KY

-3,218

 

No comment.

MN

-3,054

 

No comment.

MD

-2,957

 

No comment.

OR

-2,203

 

No comment.

CO

-1,733

 

No comment.

MS

-1,728

 

No comment.

LA

-1,504

 

No comment.

AZ

-1,328

 

No comment.

AR

-1,266

 

Fewer layoffs in the trade industry.

MT

-1,206

 

No comment.

UT

-1,017

 

No comment.


STATES WITH AN INCREASE OF MORE THAN 1,000 


State

Change

 

State Supplied Comment

FL

+6,646

 

Layoffs in the construction, trade, and service industries,
and agriculture.

 


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Thu, 01/27/2011 - 09:30 | Link to Comment Commander Cody
Commander Cody's picture

I'm sure its all good.  Rally on!

Thu, 01/27/2011 - 09:35 | Link to Comment Handle with care
Handle with care's picture

QE3 to be priced in - DOW 15000 here we come

Thu, 01/27/2011 - 11:08 | Link to Comment DaBernank
DaBernank's picture

Who cares if anyone has a job? ...S&P 1300, bitchez!!! Long NFLX, momo mofos rule!!! Buy the Egyptian dip!!!

Thu, 01/27/2011 - 11:48 | Link to Comment panika2008
panika2008's picture

SNOWFLATION, bitchezz

Thu, 01/27/2011 - 11:58 | Link to Comment RaymondKHessel
RaymondKHessel's picture

Snow rocks ::: without ever leaving your house you can
a) file for unemployment online
b) watch netflix
c) order from amazon anything
d) buy silver and gold from APMEX
e) buy buy buy the SPX on etrade
....
need I go on ?

it all makes perfect sense

Thu, 01/27/2011 - 14:18 | Link to Comment gookempucky
gookempucky's picture

Didnt mean to cut in front of everyone but if you would like to know about your states UE situation complements of ProPublica. Many are bankrupt.

 

http://projects.propublica.org/unemployment/

Thu, 01/27/2011 - 17:29 | Link to Comment smlbizman
smlbizman's picture

i see my state is well funded, md...my last 3 years of umemployment rates go like this...57.00, 750.00, 1,350.00.....no we are not the kind that lays off....

Thu, 01/27/2011 - 09:44 | Link to Comment Salinger
Salinger's picture

and the futures yawn

Thu, 01/27/2011 - 09:52 | Link to Comment cnbcsucks
cnbcsucks's picture

Exactly...

For the life of me...I've been a market junkie for 30 years.  Everything I THOUGHT I knew about how money and markets moved and what moved them is now officially out the window.

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff???  Absolutely unbelievable...

 

Thu, 01/27/2011 - 10:16 | Link to Comment Eric The Red
Eric The Red's picture

My thoughts exactly.  You and I are brothers by another mother.

Thu, 01/27/2011 - 10:39 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff??? 

Clearly, you do not understand how the confidence part of a con works.

Thu, 01/27/2011 - 10:57 | Link to Comment cnbcsucks
cnbcsucks's picture

Apparently, I still have a lot to learn...

 

Thu, 01/27/2011 - 11:19 | Link to Comment Caviar Emptor
Caviar Emptor's picture

You, I and many other long time market junkies have undergone the same transformation. It's the re-awakeing! Bring us into the light! :-)

It goes back to the absurdist posts from yesterday where someone else blurted out what I've been saying: "There IS NO Market!" Just like Neo in the Matrix learns from the Spoon Boy that "There is no spoon", we have learned that it's not the spoon thst bends or the market that moves, it's merely The Bernank that moves. The more we accept it, the more money we make (and later, the less we'll lose)

Thu, 01/27/2011 - 12:22 | Link to Comment traderjoe
traderjoe's picture

An alternative interpretation of your quote is that, like you state, there is no market. Therefore, the market does not exist, and money does not exist. It is only you. 

Spoon boy: Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. 
Neo: What truth? 
Spoon boy: There is no spoon. 
Neo: There is no spoon? 
Spoon boy: Then you'll see, that it is not the spoon that bends, it is only yourself. 

Another quote:

"The Matrix is a system, Neo, and that system is our enemy. When you are inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters, the very minds we are trying to save. Until we do, these people are part of that system and that makes them our enemies. You have to understand that most of these people are not ready to be unplugged and many are so hopelessly dependent on the system, they will fight to protect it. The Matrix is everywhere. It is all around us. Even in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work, when you go to church, when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth."

Thu, 01/27/2011 - 15:08 | Link to Comment Cathartes Aura
Cathartes Aura's picture

good stuffs traderjoe. . . for those that resonate with the above realisations, a short vid that "illustrates" perfectly. . .

"The Story of Your Enslavement"

http://www.youtube.com/watch?v=Xbp6umQT58A

Thu, 01/27/2011 - 10:58 | Link to Comment EscapeKey
EscapeKey's picture

Ever increasing expectations of inflation.

Thu, 01/27/2011 - 11:10 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Experience observing a process has no value in understanding a completely different process.

This is not a market.  This is computers that react to inputs to their algorithms.  The algorithms weight claims 0 and durable goods 0.  Humans will not intervene in those algorithms.

Forget the market.  It has no further value to you.

Thu, 01/27/2011 - 09:49 | Link to Comment Pee Wee
Pee Wee's picture

What, no NFLX?

Thu, 01/27/2011 - 10:43 | Link to Comment sushi
sushi's picture

One of the reasons for invoking Rule 48 was to give time to install larger LCD panels. NFLX is heading for the moon and they need the larger display area to capture the jump. Where NFLX goes the rest of the market is sure to follow.

Thu, 01/27/2011 - 09:50 | Link to Comment Michael
Michael's picture

Epic Fail.

Liesman looked like his dog died.

Thu, 01/27/2011 - 10:29 | Link to Comment Hephasteus
Hephasteus's picture

Unemployment cackles.... I'll kill you and your little dog tooo!!!

Thu, 01/27/2011 - 10:25 | Link to Comment Eric The Red
Eric The Red's picture

Another round of drinks in Davos!

Thu, 01/27/2011 - 11:31 | Link to Comment DaBernank
DaBernank's picture

+ 1 Dirty Martini

Thu, 01/27/2011 - 11:12 | Link to Comment Pez
Pez's picture

I would say construction is going way, way up, in the snow effected states as the homeless are now building igloos.

Thu, 01/27/2011 - 11:20 | Link to Comment Caviar Emptor
Caviar Emptor's picture

+1

Thu, 01/27/2011 - 09:31 | Link to Comment Ben Probanke
Ben Probanke's picture

it's due the snow of course

Thu, 01/27/2011 - 09:36 | Link to Comment 101 years and c...
101 years and counting's picture

that is the excuse.  too funny.

isn't that why the numbers are seasonally fudged?

this is the first winter in history where snow has fallen more than once.

 

Thu, 01/27/2011 - 09:44 | Link to Comment LMAO
LMAO's picture

WTF....snow ?!

Shouldn't this mean, More people employed. . . .

Clearing roads, runways, railroads, deicing planes, etc.

LMAO

Thu, 01/27/2011 - 10:15 | Link to Comment NotApplicable
NotApplicable's picture

It's the Great American Snowjob.

Thu, 01/27/2011 - 10:59 | Link to Comment Pez
Pez's picture

Nope, All done by crews staffed 67% so that we can make bigger prof.....er..um ....so we can save the company in this economic downturn. Yeah that's it.

Thu, 01/27/2011 - 12:47 | Link to Comment A Nanny Moose
A Nanny Moose's picture

White. Powdery. Yep "snow."

Thu, 01/27/2011 - 09:45 | Link to Comment Ludwig Van
Ludwig Van's picture

 

Yahoo headline: Requests for unemployment benefits up due to snow

Blame the bad weather on Waddell & Reed

 

Thu, 01/27/2011 - 09:52 | Link to Comment NOTW777
NOTW777's picture

yahoo - part of the obama news network w/ AP, Reuters & Bloomberg

Thu, 01/27/2011 - 11:05 | Link to Comment whatz that smell
whatz that smell's picture

Requests for unemployment benefits up due to snow...

.........

HFT parse headline: (Requests for un)employment (benefits)up  (due to)snow.   

weighting: (.00000001(employment) + .0000001(up)) + 666666(snow) = DOW 36,000

..........

 

Thu, 01/27/2011 - 13:46 | Link to Comment midtowng
midtowng's picture

The numbers actually aren't that bad. This one of those extremely rare instances when the seasonal adjustment significantly increased the number. I think it only happens in January. The non-seasonally adjusted number wasn't that bad.

Thu, 01/27/2011 - 09:35 | Link to Comment papaswamp
papaswamp's picture

Durable goods missed big time too..... -2.5% vs expectations of +1.5%

Thu, 01/27/2011 - 10:56 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

And check out this Yahoo headline:

Durable goods orders outside of aircraft post gain

http://finance.yahoo.com/news/Durable-goods-orders-outside-apf-3695705607.html?x=0

Thu, 01/27/2011 - 09:32 | Link to Comment HoofHearted
HoofHearted's picture

Just wait for the revision next week! This is what they are admitting.

Thu, 01/27/2011 - 09:33 | Link to Comment The Talmud Kid
The Talmud Kid's picture

steve LIESman says it due to the snow.

Nothing to worry about.

Should be good for AMZN, no?

 

Thu, 01/27/2011 - 09:33 | Link to Comment scratch_and_sniff
scratch_and_sniff's picture

WTF, where's Sputnik?

Thu, 01/27/2011 - 09:39 | Link to Comment Hephasteus
Hephasteus's picture

Green shoots eazing 2.0 expectations management class.

"His name is, uh... Richard Starkey. From Maine. He has a saying. 'Things are getting better, getting better all the time.' "

 

Thu, 01/27/2011 - 14:55 | Link to Comment Vacca
Vacca's picture

I doubt there will be any postmen left after the dust settles.

Thu, 01/27/2011 - 09:45 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

The Sputnik moment has been delayed.  We've decided to have a Tiananmen Square moment first.

Thu, 01/27/2011 - 09:50 | Link to Comment The Limerick King
The Limerick King's picture

Too funny!!!

Thu, 01/27/2011 - 13:38 | Link to Comment CH1
CH1's picture

YES!!

Thu, 01/27/2011 - 09:34 | Link to Comment Ben Probanke
Ben Probanke's picture

snowing in egypt?

Thu, 01/27/2011 - 09:45 | Link to Comment assumptionblindness
assumptionblindness's picture

+1000

Judging by the size of the drop over the last couple of days that blizzard must have been a real doozy!

Thu, 01/27/2011 - 11:05 | Link to Comment Pez
Pez's picture

Remember they're looking at "snowfall futures". So expect what ever excuse is needed at the moment.

Thu, 01/27/2011 - 09:35 | Link to Comment NOTW777
NOTW777's picture

look @ durable #s

fraud is leaking

Thu, 01/27/2011 - 09:53 | Link to Comment youngman
youngman's picture

And then look at the Baltic dry index......hmmm....things are slowing down....at least internationally....but Cat and Deere will be doing well as the world constructs......not the western world.....

Thu, 01/27/2011 - 09:36 | Link to Comment nate28jf
nate28jf's picture

I can't wait for the spin of how this is positive from Mainstream Media.

Thu, 01/27/2011 - 09:45 | Link to Comment JonNadler
JonNadler's picture

let's have a contest to see who can dig up the best spin piece in the MSM

Thu, 01/27/2011 - 09:54 | Link to Comment nate28jf
nate28jf's picture

I've noticed that when it is too bad to spin, they just write a boring article full of numbers and economic terms most people gloss over at.

Thu, 01/27/2011 - 09:56 | Link to Comment nate28jf
nate28jf's picture

Or then again there is always CNBC: "Snow Pushes Claims Higher in Setback for Jobs Market"

 

DAMN YOU SNOW!!!!!

Thu, 01/27/2011 - 11:48 | Link to Comment JonNadler
JonNadler's picture

 

 

that claim is a snow job!!!

Thu, 01/27/2011 - 11:48 | Link to Comment TiredofIgnorance
TiredofIgnorance's picture

@Jon Nadler:

Sounds pretty good, all we have to do is Troll the Trolls.

How Fitting !!!

I'll grab some of the B.S. they print at MarketWatch.

Thu, 01/27/2011 - 13:01 | Link to Comment JonNadler
JonNadler's picture

Marketwatch, ha ha, is Americapatriot and Newbegold still there? Suuuuper trolls

Thu, 01/27/2011 - 16:52 | Link to Comment RockyRacoon
RockyRacoon's picture

How do you get the market to ramp just before the close?  You have Mr Softy release JUST before the close and watch the price spike.  Easy-greasy.

Thu, 01/27/2011 - 09:36 | Link to Comment NOTW777
NOTW777's picture

lets hear it for the recovery - ben? obama? MSM?

Thu, 01/27/2011 - 09:36 | Link to Comment David99
David99's picture

QE3 wanted $ 1 trillion asap

Thu, 01/27/2011 - 11:07 | Link to Comment Chris Jusset
Chris Jusset's picture

David99 Says:

QE3 wanted $ 1 trillion asap

Don't worry, Banana Ben already has the QE3 machine fully primed and ready for immediate deployment ... but why stop at $1 trillion?

Thu, 01/27/2011 - 11:53 | Link to Comment Rule of 72
Rule of 72's picture

Please don't tell the Bernank or Obeyme what comes after a trillion.

Thu, 01/27/2011 - 09:36 | Link to Comment nontaxpayer
nontaxpayer's picture

Print it baby, take it to the moon!

Thu, 01/27/2011 - 09:36 | Link to Comment HUGE_Gamma
HUGE_Gamma's picture

Send em the Obama bucks

Thu, 01/27/2011 - 09:45 | Link to Comment alexwest
alexwest's picture

spin has started..
#US Labor Department says four states reported big increases in claims due to snow

realy,?? in case of snow IT SHOLD HAVE BEEN better.. less people applied for ... no way around..

alx

Thu, 01/27/2011 - 09:50 | Link to Comment Bob
Bob's picture

Must be all the laid-off lifeguards who filed online.

Thu, 01/27/2011 - 10:09 | Link to Comment Johnny Lawrence
Johnny Lawrence's picture

Hilarious.  What jobs during the winter lay people off because of snow?  Is snow not expected this time of year?

Thu, 01/27/2011 - 10:22 | Link to Comment Bob
Bob's picture

Think of all that grass that suddenly couldn't get cut, shubs that couldn't be trimmed, lemonaid that went without buyers (poor kids) . . .

Thu, 01/27/2011 - 11:09 | Link to Comment Chris Jusset
Chris Jusset's picture

Yep, during the week there were massive layoffs of lifeguards, lawncare workers, and house painters.

Thu, 01/27/2011 - 09:36 | Link to Comment Alex Lionson
Alex Lionson's picture

Full steam ahead Benny! Printing Presses into overdrive mode!

Thu, 01/27/2011 - 09:36 | Link to Comment Pants McPants
Pants McPants's picture

This can't be true...can it?  SOTU said everything was fine - economy growing, people going back to work, etc.

I refuse to believe it.  Now back to my idiot box.

Thu, 01/27/2011 - 09:37 | Link to Comment themosmitsos
themosmitsos's picture

Farmer Jim says you can get a flower to bloom on a turd, but all it'll ever be is a TurdBlossom

Thu, 01/27/2011 - 09:38 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Jobs don't matter anymore when you have a welfare system which is backed by a free-money printing press with no constraints such as debt-ceilings which don't get increased on a whim.

If no one had a job, The Bernank would just carry on printing long and hard and all will be well.

These are the new rules. Slaves you will all become to The Bernank's printing press.

Thu, 01/27/2011 - 09:57 | Link to Comment mouser98
mouser98's picture

nice Bill Hicks avatar

Thu, 01/27/2011 - 09:38 | Link to Comment The Axe
The Axe's picture

nothing moves the market down, cause NY FED has your back, bid them up SACK has his buy orders in on IBM CAT and every DOW stock that shows any buyers...

Thu, 01/27/2011 - 09:38 | Link to Comment Trichy
Trichy's picture

BTFStagflation

Thu, 01/27/2011 - 09:38 | Link to Comment Rockfish
Rockfish's picture

Bank local, reduce - better yet eliminate debt, stop watching the boob tube.

Thu, 01/27/2011 - 09:39 | Link to Comment Quintus
Quintus's picture

And was the prior figure revised higher or lower?  Go on Tyler, surprise me.

Thu, 01/27/2011 - 09:49 | Link to Comment Quintus
Quintus's picture

To answer my own question, the prior figure was (To the surprise of absolutely no-one) revised higher from 404k to 413k.

Thu, 01/27/2011 - 09:51 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

And I believe the 404k figure was used to justify a stock market rally.  Just like yesterday's new home sales that were skyrocketing and at the same time the lowest in 47 years.  Lies, damn lies, etc.......

Thu, 01/27/2011 - 09:59 | Link to Comment Quintus
Quintus's picture

Indeed.  Given the huge disconnect between the initial figures and subsequent revisions, I don't know why the BLS don't just make up whatever numbers they feel are necessary to provoke the market reaction they desire and then revise them later when nobody's looking. Oh, wait....

 

 

Thu, 01/27/2011 - 09:42 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Well, if that is how big a miss they are admitting to and the revision a few weeks later is downwards, imagine how bad the situation really is.

Right after the state of the break-up address too!

Americka....rock...hardship place. And so all of us get to suffer the same fate. India is hog-tied to the dollear!

ORI

http://aadivaahan.wordpress.com/2011/01/26/a-ha-ahahaha/

Thu, 01/27/2011 - 09:42 | Link to Comment Wm the Shrubber
Wm the Shrubber's picture

So, CNBC tells us that snow kept workers at home, hence the spike in filings.  Wouldn't snow keep the unemployed from getting to the UE Claim office to file?  Can't wait to see the upward revision on this one.....

Thu, 01/27/2011 - 09:45 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

That is kind of what I was thinking, too.  How did they file?

 

They have measured 19 inches in Central Park for this latest snowstorm.  I would say that there is 10 - 12 inches of accumulation in most areas.  The temperature is right around freezing right now.  It will hit about 36 in Manhattan.

I hope this doesn't do anything to stop the Netflix rally.  It is great that we can build our economy on a company that mails out and streams crappy TV and movie content.  Give me more of those "Little Fockers".  Who needs to make anything?  I wish they would complete the transformation of the Meat Packing District to boutiques and "luxury" condos.

Luxury condos for everybody, bitchez. 

Thu, 01/27/2011 - 09:55 | Link to Comment Michael
Michael's picture

People sitting at home with nothing to do. What to do? What to do?

Lets apply for unemployment on line. 

Thu, 01/27/2011 - 10:27 | Link to Comment Johnny Lawrence
Johnny Lawrence's picture

And how often is weather blamed when retail sales come in below expectations.  So, when it snows, people stay home and don't shop.  But, when it snows, everyone gets in their car and goes to the unemployment office.

Thu, 01/27/2011 - 10:45 | Link to Comment Blano
Blano's picture

Exactly.

You know, it's amazing how much clearer things become when you finally realize that the basis for most information the guvmint puts out is fraud. 

Thu, 01/27/2011 - 09:43 | Link to Comment Clockwork Orange
Clockwork Orange's picture

egads!

looks like we got the sputter-nik moment instead.

Thu, 01/27/2011 - 09:43 | Link to Comment DavidC
DavidC's picture

Not sure what the problem is. 405k expected, 454k returned, only 12% adrift in their forecasts...

(sarcasm off)

DavidC

Thu, 01/27/2011 - 09:46 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

+ $209.00 (the price of a NFLX share right now, pre-market)

Thu, 01/27/2011 - 09:50 | Link to Comment alexwest
alexwest's picture

@DavidC
sure.,. no problemo.. jsut 10% off.. CBO screwed really big way recently
2011 budget deficit was 1 trln$, now it 1.5$ trln official.. forecast

alx

ps
sarcasm is on

Thu, 01/27/2011 - 09:43 | Link to Comment The Limerick King
The Limerick King's picture

The numbers are looking quite dire

But Cramer says stocks will surge higher

Should I just buy the dip

Or a gun with a clip

Adios frying-pan....hello fire.

 

Thu, 01/27/2011 - 09:47 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

What, you can't have both?

Buy the f-cking dip and buy the f-cking clip.

Thu, 01/27/2011 - 10:01 | Link to Comment The Limerick King
The Limerick King's picture

Are you suggesting BTFDABTFCYFI...?

Thu, 01/27/2011 - 10:21 | Link to Comment Eric The Red
Eric The Red's picture

Dude, you are my hero.  Keep those limericks coming.

Thu, 01/27/2011 - 09:44 | Link to Comment max2205
max2205's picture

BTFDYFI's

Thu, 01/27/2011 - 09:44 | Link to Comment PositivelyNegative
PositivelyNegative's picture

NON DEFENSE CAPITAL GOODS -6.3%!!

Thu, 01/27/2011 - 09:44 | Link to Comment thepigman
thepigman's picture

the benank KNOWS we have a bullshit

economy. Wonder what the forecast

is in his locked drawer? 1% GDP

with structural unemployment?

Thu, 01/27/2011 - 09:49 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

2005 - "The new guy can't be any worse than Greenspan."

 

2008 - "The new guy can't be any worse than Bush."

Anybody looking forward to the next round of sociopaths that get moved into these positions? 

Thu, 01/27/2011 - 09:44 | Link to Comment Thee Barbarous Relic
Thee Barbarous Relic's picture

Just wait. We are letting go of 2 people out of 5 who have worked 7 and 17 years respectivly at the end of Febuary.The company has been going for 24 years so far.Just hunkering down to try and ride out the storm.

Thu, 01/27/2011 - 09:50 | Link to Comment The Talmud Kid
The Talmud Kid's picture

I firmly believe everyone who supports the kenyan muslim communist and the demokratik soviet should be fired from private business and industry.

Thu, 01/27/2011 - 09:45 | Link to Comment TwoJacks
TwoJacks's picture

did it really snow 4 of the last 5 months?

Damn

Thu, 01/27/2011 - 09:45 | Link to Comment Occams Aftershave
Occams Aftershave's picture

O' course there's more unemployed.  Who d'ya think is on the couch watching all those Netflix?

Thu, 01/27/2011 - 09:49 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

You have to have something to watch while you box the clown.

Thu, 01/27/2011 - 09:46 | Link to Comment Bill Lumbergh
Bill Lumbergh's picture

We don't need jobs in this new POMO economy.

Thu, 01/27/2011 - 09:47 | Link to Comment SDRII
SDRII's picture

Doesnt look good for Mubarak....

 

the outlawed Muslim Brotherhood -- the main opposition group, which has so far refrained from officially endorsing the demonstrations -- has called on its members to turn out on the streets in large numbers and join the protests after tomorrow's Friday Prayers. Washington appears to be aling9ing with the protestors – Clinton said "We believe strongly that the Egyptian government has an important opportunity at this moment in time to implement political, economic and social reforms to respond to the legitimate needs and interests of the Egyptian people," she said. No reported Egyptian police on Jan. 27 fired rubber bullets, a water cannon and tear gas at hundreds of protestors in Suez as ElBaradei Offers To Oversee Interim Government whos says Mubarak should retire - STRATFOR/RFERL

Thu, 01/27/2011 - 09:55 | Link to Comment QQQBall
QQQBall's picture

Pray then riot. Nice

Thu, 01/27/2011 - 10:24 | Link to Comment Eric The Red
Eric The Red's picture

Mubarak is a douche who deserves whatever he gets.  Bad Karma dude.

Thu, 01/27/2011 - 11:51 | Link to Comment Neutron_Boy
Neutron_Boy's picture

The US State Dept. (Read Obama) praised the overthrow of the Tunisian Dictator too.  What is the common thread?  Who is going to replace these secular dictators in Tunisia and Egypt?  Anyone, Anyone?  Buehler?

Thu, 01/27/2011 - 13:20 | Link to Comment Fearless Rick
Fearless Rick's picture

A man came from Princeton named Bernanke

who though he could run a big bankie,

He twiddled one thumb

stuck one up his ass just for fun,

and made money with the wave of a hankie!

Thu, 01/27/2011 - 09:47 | Link to Comment razorthin
razorthin's picture

http://www.cnbc.com/id/41290946

Bad news is always due to an exogenous force.

Thu, 01/27/2011 - 10:01 | Link to Comment Bob
Bob's picture

Bombshell indeed.

Thu, 01/27/2011 - 18:06 | Link to Comment UninterestedObserver
UninterestedObserver's picture

By bombshell you mean non event right?

Thu, 01/27/2011 - 09:47 | Link to Comment ejmoosa
ejmoosa's picture

Personally, I think you are a lot better off looking at Total Employed in the Private sector.

 

And while that number is updated only once a month, it is headed higher and has been since Jan 2010.

 

How many of these new unemployed are government workers?  I'm not going to use the fact that they are losing their jobs as a negative indicator.

Thu, 01/27/2011 - 09:47 | Link to Comment toros
toros's picture

It's official

http://finance.yahoo.com/

 

Thu, 01/27/2011 - 09:48 | Link to Comment Boilermaker
Boilermaker's picture

REITs are up...

Thu, 01/27/2011 - 09:48 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Fewer layoffs in the snow plowing, snow shoveling, and snow blowing industries.

Thu, 01/27/2011 - 09:48 | Link to Comment Alcoholic Nativ...
Alcoholic Native American's picture

FUNPLOYMENT FTW!!!!!

Thu, 01/27/2011 - 09:49 | Link to Comment thepigman
thepigman's picture

Wow!! Lucky for us the bernank has
rigged the markets.

Thu, 01/27/2011 - 09:54 | Link to Comment razorthin
razorthin's picture

Oh sure, these ridiculous PEs are justified.  Lucky for us the Bernank has assured us the next crash is above the horizon.  Thanks for the telegraph, Bernank.

Thu, 01/27/2011 - 09:50 | Link to Comment GolfHatesMe
GolfHatesMe's picture

This all but assures a Dow 12k close

Thu, 01/27/2011 - 09:50 | Link to Comment Sudden Debt
Sudden Debt's picture

UNEMPLOYED PEOPLE NEED TO BE ERASED FORM THE STATISTICS MUCH FASTER!!!

 

CTRL-A

DELETE!!

Thu, 01/27/2011 - 09:51 | Link to Comment pazmaker
pazmaker's picture

ok Harry Wanker   how are you going to spin this one?

Thu, 01/27/2011 - 09:55 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

I sure hope this continues to drive gold and silver down.  I want to do more long-term purchases at lower prices.  Seriously!

Thu, 01/27/2011 - 09:55 | Link to Comment thepigman
thepigman's picture

As the markets will have no reaction,

Wanker will just tell you good times

are around the corner.

Thu, 01/27/2011 - 10:41 | Link to Comment holmes
holmes's picture

Like Lucy and Ethel trying to wrap chocalate candies on the assembly line, Harry is probably helping out his workers at his wildly successful Company.

No time to see the bad stats.

http://www.youtube.com/watch?v=4wp3m1vg06Q

Thu, 01/27/2011 - 09:53 | Link to Comment thepigman
thepigman's picture

Futures have barely budged. The

greatest fraud of all times continues

courtesy of the bernank.

Thu, 01/27/2011 - 09:55 | Link to Comment JonNadler
JonNadler's picture

this is one is great

 

WASHINGTON (Reuters) - New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday.

Thu, 01/27/2011 - 09:57 | Link to Comment razorthin
razorthin's picture

guess they were all seeking shelter at the claims office.

Thu, 01/27/2011 - 11:00 | Link to Comment Coast Watcher
Coast Watcher's picture

Jesus. That Reuters report makes absolutely no sense. The logic is nonexistent. It's like someone said: Well, gotta put lipstick on this pig somehow. Let's baffle them wiht bullshit."

Thu, 01/27/2011 - 18:09 | Link to Comment UninterestedObserver
UninterestedObserver's picture

When they say workers who do they mean? If you are unemployed then you aren't "a worker" and I have a hard time believing it takes more than 1 govt drone to turn on the computer to file the claims - forget I said that it probably takes 100....

Thu, 01/27/2011 - 09:55 | Link to Comment Kaaos
Kaaos's picture

Jobless claims unexpectly rises because of weather related backlog

Brittish GDP unexpectly falls because of cold weather

It's all about the weather. It will be alright on summer, no worries...:)

 

Thu, 01/27/2011 - 11:46 | Link to Comment JonNadler
JonNadler's picture

that's a snow job

 

even in Egypt the rioting is because of the snow

Thu, 01/27/2011 - 13:23 | Link to Comment Fearless Rick
Fearless Rick's picture

No, the economies of the great nations will still suck this summer, due of course to

 

Wait...

 

for...

 

it...

 

EXCESSIVE HEAT!

Thu, 01/27/2011 - 18:10 | Link to Comment UninterestedObserver
UninterestedObserver's picture

The great thing is when everything sucks this Summer we will be able to blame it on the heat

Thu, 01/27/2011 - 09:57 | Link to Comment Sands8oo
Sands8oo's picture

This is excellent news!

 

DOW 250,000!!!  Gold?  Whats that?

 

Fucking surreal...

Thu, 01/27/2011 - 09:59 | Link to Comment b_thunder
b_thunder's picture

Snow?  I thought you file for benefits over the phone or online, and they transfer $$$ to the prepaid debit card.  So, no trips to the office to file, and no postal delays to get the check!  WTF the snow has to do with the number?

 

 

Thu, 01/27/2011 - 18:11 | Link to Comment UninterestedObserver
UninterestedObserver's picture

Hey no arguing with the ministry of disinformation - penalty is lobotomy by spoon.

Thu, 01/27/2011 - 10:02 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

How can someone honest claim that snow impacts layoffs? You have to be seriously insane and retarded to claim this.

Retail sales, ok, I could understand snow has impact, but unemployment claims?

Thu, 01/27/2011 - 10:01 | Link to Comment digalert
digalert's picture

Honest to goodness no lie, CNBS reports:

"high UE could be due to snow!"

 

Thu, 01/27/2011 - 10:02 | Link to Comment oh_bama
oh_bama's picture

You guys are too negative!!

People go to claim cause they knew this week weather will be bad!!

More people retired early!

more people in graduate school and MBA programs!

hehe. BTFD!!

Thu, 01/27/2011 - 10:03 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

But, but, but... Obama is positive on America's future!

Lies, damned lies and Obama

Fuck you too Timmah

 

Thu, 01/27/2011 - 10:03 | Link to Comment myztix
myztix's picture

Durable goods represents # from Dec while the jobless represents # from last week.

Not that strong of a correlation. If any, just a postulation.

Thu, 01/27/2011 - 10:04 | Link to Comment oogs66
oogs66's picture

     A Labor Department official said snow in four southern
states in previous weeks created a backlog of claims that were
processed last week. While the economy has improved, it hasn’t
been enough to reduce an unemployment rate  that Federal Reserve
policy makers said yesterday is too high and requires pressing
ahead with a $600 billion stimulus plan.

 

someone actually got it right, snow delayed people from filing so these workers were really laid off in prior weeks and just didn't make it to file until now.

Thu, 01/27/2011 - 10:18 | Link to Comment oh_bama
oh_bama's picture

Nope you are too negative because you think too much. think way too logical..

 

ignore all your math.. they won't work. Just close your eyes and BTFD!!

 

 

Thu, 01/27/2011 - 18:12 | Link to Comment UninterestedObserver
UninterestedObserver's picture

Yeah most newly fired people are so well off they usually wait weeks to file - yep it's true

Thu, 01/27/2011 - 10:04 | Link to Comment slow_roast
slow_roast's picture

It's all very clear guys; the snow caused people to stay at home and sign up for NFLX!  BTFN(etflix)!

Thu, 01/27/2011 - 10:04 | Link to Comment bingaling
bingaling's picture

Hey Tyler, didn't we have this same fucking snow excuse early 2010 for something? Deja vu

Thu, 01/27/2011 - 10:07 | Link to Comment Alex Lionson
Alex Lionson's picture

Bingo!

Do NOT follow this link or you will be banned from the site!