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Jobless Claims: 454,000 - Stagflation Baby (Confirmed By Durable Goods)
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 |
|
GA |
-19,429 |
|
Fewer layoffs in the construction, trade, service, and manufacturing |
|
NC |
-16,132 |
|
Fewer layoffs in the construction, trade, service, food, |
|
PA |
-14,859 |
|
Fewer layoffs in the construction, service, and transportation |
|
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 |
|
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 |
|
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 |
|
NJ |
-4,579 |
|
Fewer layoffs in the construction, trade, service, transportation, |
|
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, |
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Guess the Shadowstats number will be close to 30%.
aren't humans considered durable goods?
No but the CFTC is working a new Wash DC initiative to get more people employed with trade labor cost contracts . Delivery will be 10000 humans willing to work at whatever delivery price was agreed upon in the open market . If you are looking for work you just register with the homeland security ,after a backround check and 12 strip searches, they then send you to a Fema camp to be trained where you either get a job or are never heard from again .
chairman maOBAMA's 5 year plan is realizing it's intended consequences.
Way ahead of schedule, too.
Just amazing that a "communist organizer" (Alinsky's term for "community organizer") would be so destructive. Knock me over with a feather.
SNOW bitches..its snow...ha ha ha
The jobs could have been saved if :-
The government had let the big banks fail.
OR
Pressed criminal charges on the people in top management positions of those banks for fraud and changed the management of those banks before offering it a bailout.
Immediately Reinstated the Glass Stegall Act.
Government could have used the bailout money to fund infrastructure projects around the country which would have created jobs immediately. Instead they chose to hand free money over to their buddies (same people who caused the crises because of speculation and leverage) for speculation in stock and commodities markets.
Taken quicker steps to reduce housing loan principle in order to make it easier for the majority of the population to pay their monthly installments while staying in their homes thus avoiding foreclosure.
But of course we can keep on dreaming.
http://www.marketoracle.co.uk/Article24581.html
We are way past solutions around here buddy . We are just looking for a way to get through the tsunami that's coming
I agree with the first poster that all that should have been done but they had to save their friends and it's now to late. You are correct, we are way past any viable solution. Because like any problem the longer you let it go the worst it can get, and in this case they have allowed it to go so long and with half hearted or no attempt whatsoever, is that the only thing that is left is to accept what is coming. What is coming toward the US economy is an imploded economy. All those people who thought these paper promises and judgements protected them is in for a rude shock. When they don't get their SS or medicaid or food stamps or whatever federal govt. subsidy that is needed, they will be crying literally. Because our own leaders and even our society as a whole as dumbed down most americans and made them almost child like in their view of the world and reasoning.
No, the jobs would not have miracvulously been saved. Too much fraud and deamnd pulled forward. It would have been a shit sadwich either way; they are just making it worse as J6P provides the fuel to let the insiders out of the market and backstop losses on shit paper passed to GSEs and anywhere else they can stuff it on a Market to Myth basis.
you guys just do not get it. It was the wx. Has nothing to do with the economy. Come on. Steve Leisman, that CNBC intelligent, well spoken and honest hack, I mean commentator, always gets it right.
It just goes on and on. No shorts.
And in the meantime, the market continues to go up so the richer can get richer selling into this fake market whilst pushing up prices on essentials for the poor, sick and elderly
We went off a cliff and they are trying to convince us we are flying.
We are precious snowflakes!
We're Wyle E Coyote, we just havn't looked down yet.
Exactly what Im thinking.
SNOW WAY , dont believe it !
well we have now found out the TRUE meaning of SNOW JOB
QE3, 4, 5, and 6 are being loaded as we speak...print our way into prosperity, all is well. DOW 36,000....
The REITs are soaring as usual...you can't even make it up anymore. It's just ridiculous at this point.
SPG is, of course, over it's $100 per share threshold. The IYR and RMZ are in their gravity defying launch mode.
I quit...I really do.
but it didn't touch the futures
IF: headline(x)
THEN: btfd
ELSE: go broke
RETURN
Snow job or blow job, either way we're fucked. Just how many crooks, er I mean economists attend the world economic forum in Davos?
Pending home sale 2.0% exp. 1.0%. What about the Fucking SNOW. The fuckers should rot in HELL.
From CNBC on the topic of Gold's decline:
A raft of positive economic data from the United States and more hawkish signals from some other central bank officials have also sparked speculation that certain major economies would move to raise interest rates sooner than previously thought.
Unemployment is a lagging indicator...wa wa.
"JOBLESS RECOVERY" beotchess!!!!
CUT THE CORD!
When is someone going to come up with a 3x leveraged UI ETF?
Guys, the good news is that there are still over 130 million people working. Dear Leader has saved over 130 million jobs by bailing out the banksters and unions. Aren't you happy?!
Bravo to Illinois! The tax increase hasn't caused panic. Apparently, outside of hiring the lame and the useless as a civic duty, employment is based on need regardless of the cost.