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Jobless Claims Huge Miss To Expectations Of 380K, Print At 412K, Previous Revised Upward, Core PPI Higher Than Expected
The BLS beat the expectations game continues. While this week's number of people filing initial cliams surged to 410K, blowing out expectations of 380K, it is once again the prior revision that shows the true nature of the BLS. As we said last week when claims printed at 382K, better than expectations: "last week's 388K was revised up to 392K, declining to 382K below
expectations of 385K, which in tried BLS fashion will certainly be
revised next week so that the actual number will have been a miss but by
then nobody will care." Sure enough: last week's number was revised... to 385K, meaning there was no beat. Obviously this week's number will be revised higher next week. As usual. Looking at continuing claims we see the same thing: the prior number was revised from 3,723K to 3,738K, meaning the drop to this week's 3,680K was better than expected. Lastly from the BLS, people claiming EUCs and Extended Benefits increased by about 40K in the week ended March 26 (full report here).
Elsewhere, PPI printed at 0.7% on expectations of 1.0%, down from 1.6% previously. PPI ex food and energy came at 0.3%, up from 0.2% previously, which also was the expectation for the March number. As El-Erian says on CNBC: "People may be surprised by the rate at which the core goes up." As for headline prices dropping, looks like once again nobody at the BLS actually bought food or filled up their car in the past month: the 0.7% headline number was the lowest since November 2010 (full release)
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recovery??????????
geithner talking strength, confidence and recovery
4-14 08:40: US Treasury Secretary Geithner sees confidence in markets for US fiscal position, adding that global economy shows gradual strengthening
Get Sophie on the phone. She's got some choices to make.
As the BRIC´s are meeting about the demise of the US dollar....hmmmm.....smart man
WRECKOVERY
brilliant ++++
Nice! I'll need to borrow that at 0% if you don't mind.
Why too negative and unamerican!!
...BLS notes that jump in claims reflects quarter end.
So, companies now fire people at the end of the quarter? If thats the case, why did the retarded "economists" not know this and forecast it. What a load of BuLlShit.
It makes one wonder why the BLS should add any such comments to the data. Shouldn't they simply report the data and let if go at that? It seems obvious someone sent them a memo to put a positive spin on anything they report.
Makes one wonder why the BLShit Bureau shouldn't be stuffed into the cracks at Fukushima to help revise the previous week's emissions.
That's awesome.
The reason doesn't matter, they just need to throw out one of these crappy numbers now and then so they can get back to the usual ways of describing the unemployment numbers:
this is one of those moments where I turn on CNBC for sport.
I did the same thing :D it was entertaining to watch liesman only talk about CPI and how food prices went down!
As long as the Truck Stop buffet stays the same price, Liesman thinks the economy is doing well
Impact of Japan earthquake on US production?
Bad weather in the East Coast was also the reason.
No billwilson I think US production of #1 product, 'bullshit' is increasing.
or maybe Peru elections?....or Chavez talking some bullshit?, what a joke
I love this data!!! I decrease in the FOOD component?? You kidding me? right..Do they only collect data at Taco Bell...
From one of the USA's LARGEST FOOD DISTRIBUTORS serving many chains and others, food prices have once again been increased from 4% to over 10% depending on product last week at wholesale level. Of course this is an APRIL number.
Johnsonville Brats and food inflation - CEO prices are going up food inflation is here
http://video.cnbc.com/gallery/?video=1776739282
quick Timmay pull that 3rd thumb out your ass and stick it in the dyke toots sweet, cuz she's gonna blow!
Fed reporting seems to be engineered to induce short-covering bouts.
I knew we were in trouble when the WH Chief of Staff said something about not letting a good crisis go to waste.
i don't really understand the above article. Are you basically saying that bad figures (i.e. bad for the economy) are being slipped in by the back door? And this is done by revising the previously issued figures which people pay less attention to?
Welcome to the party
Sounds like you need to start here:
http://www.youtube.com/watch?v=kQC82okzTXI
BTFD, America keeps exporting jobs and then saying the tax receipts has dropped. The truth is coming out and it s looking uglier everyday. Created or saved jobs is a crock of shitz. More pain to come and more layoffs. Get ready for a ugly decade.Meanwhile we need more fucking programmers and crap which is of no value.
Don't forget all the bankers and financial "experts". Talk about useless crap.
And some more excuses:
04-14 08:38: Initial knee jerk move lower in US stock futures following worse than expected jobs data, but the BLS notes that jump in claims reflects quarter endTranslation - We tried really hard to seasonally adjust our way out of this number, and just couldn't so yeah, its quarter end related, yeah, that's it. Nothing to do with tax cuts failing, QE2 causing inflation without growth, etc....nope, just higher than normal quarter end volatility.
Let's not forget the uncertainty in the cost of hiring someone thanks to Obamacare and the indecipherable tax code. All the while Hopey the Clown talks about cutting $4 trillion over 12 years, just like he was going to cut the deficit in half by the end of his first term. And $4 trillion over 12 years won't do shit, even if he did somehow manage to make it happen.
We're so beyond Fucked we can't even find it on a map.
Remind me again, what did he say about increasing exports? LOL
hmmm...and what, pray tell, do we export?
Guns? Butter? Vaseline? Jobs? Pollution? Dollars? Treasury debt?
BLS we don't just provide data we provide spin.
they should just drop the L in BLS
Where's My Fuckup Job at BLS??
Where can I get a statisticians job fucking up so constantly that my work has to be revised every week and not only not get fired...
but make $100k+ a year with full benefits, retire at 55 on 80% of my salary with gold plated government medical insurance??
'Reflects quarter end' so they admit they lie? Or are they asserting unemployment always goes up at 'quarter end'. Theres really a lot of people that need a good neck stretching.
so, should I short rope?
One Word: Oil!
Oil has not bearing on the Economoy and so is infaltion. Janet Yellen. yeap, I could not get inot Harvard. Damn, I guess i should have lied on my application to get into Harvard.
You don´t have to lie..you just have to be able to pay for it....
This is a recovery?
yep, the "jobless recovery" is back. who wants to take bets on when QE3 starts? I month, 2 months or straight after QE2 ending?
Snowing in the NorthEast at the end of March
If I looked at Obama´s 12 year budget he announced yesterday...I would be looking to move my companies elsewhere....I did...I am in Colombia
Good move!
The chics r hot down there and it is a real status symbol to have a.caucasian usa boyfriend.
Oh hey thanks for the info!! : )
gold up a buck, silver a half buck, index futures down. Rockin.
This is just one of those rich mornings...when no matter where you look, nothing but FUBAR. And yet, per the recent takeover of the BlowHorn [CNBC] by the New American Marxist/Banker party, we are about to be treated to a criminal syndicate Wall Street banker who is going to tell us just how bullish he is...on tech.
In the years to come, as we try to explain to our children just how and why we sold their liberty, it will be clips like this that will still be echoing in my mind, one of the hockey helmet wearing criminal bankers pushing "tech" as Japan nears complete nuclear holocaust, and the dollar collapses, and the China bubble pops, and the first rumblings of the zombie apocalypse shake the ground.
And yet the idiot banker with his blinders on tells us how exciting the present moment is, in hardware and the Internet, how he likes iPads and smart phones, etc puking etc.
And I'm going to have to explain to my children that, on that whole liberty thing, that relic, unfortunately America decided to bow down to mentally retarded and immoral banker fuckwads...and sorry son...there you go.
FUBAR, brothers! Even the government stooges cannot keep the FUBAR from leaking out today. Weekly jobless claims....SURPRISE! So much for an improving labor picture.
If everyone did their part and turned CNBC off, it would go away.
I would like to believe that, John. However, since the New American Marxist/Banker party took over the BlowHorn [CNBC], their revenue stream changed. I'm pretty sure it is not the return on advertising dollars that pay the bills at that network. Just look at their ratings. They are so unbelievably bad that, were you correct, the network would already be gone now...OR...COMCAST would be firing some pretty high profile personalities there in an attempt to re establish journalistic integrity.
Nope...I think the money comes directly from...the New American Marxist/Banker party's propaganda wing...quarterly "contributions." There is no other explanation for why the network is still on the air. The criminal syndicate Wall Street banker network exists...for bankers.
Oh...and because I know the comment that will come next, I do not watch them to keep informed on economic issues...but rather for staying up to date on just how far down the Marxist road we are [so spare me those comments for the 100th time].
Perhaps you are right. There is an obvious bias to their content.
<<< Oh...and because I know the comment that will come next >>>
You won't get that from me. I haven't watched CNBC in ages. You can spare yourself a headache by turning it off.
Lets see how bullish tech is when they realize no IPhone or other ICrap parts are available from Japan! These Criminal racketeers are going to have to eat crow by the bushel soon. Even the Geisha Bukakke girls Quick Burnett and Liesman wont be able to placate the 401K bathrobe brigades this time around.
LOL! Classic SheepDog-One ism. Good one, Dog.
I read a chilling article laying out just how far reaching Japan is for ALL cars, nevermind Toyota and Honda spin. GM and all the pther US cars are filled with Japanese parts, wiring harnesses, switches, we dont make any of that! And wormy Apple is Japanese parts assembled in China. What are they going to make Iphones out of now?
That Japanese disaster was immediately kidnapped, thrown in the back of a black van with a blanket over its head. But they cant keep it under wraps for long.
Correct Dog. They just had to keep in under wraps long enough to take down the Japanese market, then mark it back up...while they also printed their double top in the US market. Nothing has anything to do with anything...real. That is the state of the state, the world that Ben Bernanke made, the institutionalized nature of pathological lying that the criminal syndicate known as Wall Street has established as baseline, or common.
They own the networks, and they can get away with it...for a while...but eventually, one or two criminal syndicate Wall Street bankers have flashbacks...and they remember things like credibility. They talk, say something on the New American Marxist/Banker party network [there have been a couple]. And eventually, the herd is forced to turn.
Dog...NOT ONE CHANGE over at the BlowHorn [CNBC] since the merger. Can you believe that? So telling...blankets and being tossed into the back of panel vans...like you say.
WTF is the problem? We can start making all that stuff and go right around Japan if so desired.
ishit is about to hit the fan.
QE3?
Earth to Ben: INFLATE THRU PROBLEMS= FAIL
normalcy bias...its all OK...so where to move to...any thoughts?
The Icelanders seems to enjoy shoving the imposed debt back into the bankster's bernanke (aka ass - I will be using Bernanke as an expletive from this point forward). I need to learn their language. Is there an app for that?
You mean a multi purpose expletive like:
Bingo. It's bernanking fun too.
And the Titanic's bow takes a dip.
No, no, no. It was just Percy Cornelius Taylor's "A" string on his cello that broke. That was the sound you heard and not the bulkheads filling with water. That is all.
Wonder if the Toyota and other car mfg employees are rolled up in there yet
they wont count them until they have too
Damn you should work for the BLS, you could spin that. "One time gain due to car manufactures shutting down". Like it.
Employment in Japanese specialist Junk Yard operations should increase?
I hear that Airbus A380 wing repairers are also in demand.
the race between core and real gdp is heating up
Ah yes, the Bureau of Lies and Scams can be relied upon to continue the lies and fiddles
goldman had to know this before their topcall, those trolls
With a SNAP of BLS fingers, all NUMBers are revised at will.
Meanwhile, sheeple wallow in the mire, what was once the exclusive domain of PIIGS.
Hmmmm, How to make Sheep Pigs in one fell revision.
I think that is revisionary mutation right here.
ORI
http://aadivaahan.wordpress.com/2010/06/30/snake-eyes/
Inflation Actually Near 10% Using Older Measure
http://finance.yahoo.com/news/Inflation-Actually-Near-10-cnbc-357695506....
Ahhhh Ben, what do we do now, Print Barry Print! Ahhhh ok, order more printers then, we dont print money Barry, we just add zeros on a computer, stop confusing me Ben....
Have to love such Dpt of Truth!
one word " winning the future"
I knew with Barry Soetoros yammering about how things will be 30 years from now that all out depression for 2011 was confirmed.
freudian slips, 30 year depression; i agree
"A Labor Department spokesman said claims typically jump in the week following the end of a quarter. Workers who wait to file in the next quarter sometimes can get higher benefits based on periodic adjustments in how they are calculated."
http://www.marketwatch.com/story/weekly-us-jobless-claims-jump-27000-to-...
Blah, blah, blah.
It's funny, you never hear the Labor Department explain why improvements in the New Claims number are the result of temporary anomalies that should be discounted.
This simple facts shows that the BLS's remit is the recording of labor statistics but the marketing of them - and always with a positive slant.
Bullish for gold.
Not so.
You first have to have income and savings to buy it.
everyone here is too negative. those guys are just trying to keep everyone calm.( while they dry ass fuck the rest of the population of the world)
Why do they even bother to trot this shit out? There's a
load of hurt going on out there and from what I can tell the wrong people are feeling it.
They really dont care and in fact wish all of us would just drop dead. When people realize that is the truth, they see everything in a completely new light.
Yup, pretty much. We're farm animals to them.
and of course EVERY farmer wants nothing more than his farm animals to drop dead
There comes a time where the farmer slaughters his animals for meat.
And the animals never see the farmer sharpening his knives.
Animals are caged on a farm, not free.
It's all about WTF (winning the future)--please do not live in the present!
The truth is out there.........
Percent of people working lowest since ’83…Only 45.4% of Americans had jobs in 2010
http://investmentwatchblog.com/percent-of-people-working-lowest-since-83...
A budding Steinbeck puts words to paper in a garret somewhere....
Exactly - everyone thats ailing needs to hop on 66 while the ole Mother Road is still available and head West. Whether they find a Labor Camp, a Beach, or actually a new job is immaterial, because the drive will be good for the soul. The human highway is still out there for those whom seek help, love, and understanding from their fellow man
At this point, eliminating the BLS might be a good idea.
The solution is pretty simple.
The US needs to balance its budget within a 3 to 4 year time frame with measurable goals. Pure and simple. Otherwise, buckle your seat belt, and add a zero to the unemployment number.
Unless a clear plan can be signalled to the markets and they see an end to this structural deficit, we're headed for default.
How about Congress gets 10% of what they cut, divided pro-rata among all the "yea" votes? And a bonus 2% for entitlement cuts... They'd be in permanent recess inside of 45 minutes and we'd have the entire slate to re-elect.
Another bureaucratic backwater "office" whose relevance has passed.
But, they said everything was great? They said job openings were everywhere. They were adding employees all year long? The jobless recovery was intact?
Just like last time the QE was about to run out, everything went from rosy to dumpy. Bernanke has just ensured QE3 and DOW 16000. Same crap, same story.
QE until the printing presses are demolished.
The last time Obama went to war with Wall Street, the biggest of the taxpayers, the market sold off hard: http://www.hedgefundlive.com/blog/thursday-market-expectations-jamie-dimon-gave-us-a-hint-today
Manipulating the numbers by this government? Shocking.
WASHINGTON (MarketWatch) -- Treasury Secretary Timothy Geithner on Thursday said Congress will act to raise the debt ceiling because they realize the consequences for not doing so. "We're only two years from a cataclysmic financial crisis, and the huge damage to credibility and huge loss of confidence," he said before a Bertelsmann Foundation conference. "The idea that Washington would court that risk is inconceivable." Publicly and privately, Congressional Republicans have indicated they understand the implications of not raising the debt ceiling, Geithner said. Geithner added that markets have confidence that Congress will cut deficits. "The world basically believes that problems are manageable, and the system will solve it," he said. http://www.marketwatch.com/story/geithner-congress-wont-risk-debt-ceiling-crisis-2011-04-14
So...I have to ask....how is raising the debt cieling going to avoid this? Is this a freudian slip or your first official warning?
The fact that Geithner has uttered these words should send chills down our spines. The cardinal rule in public speaking is to NEVER admit the obvious. The fact that he has done this tells us how personalized this is becoming and how concerned the government is.
To have these words spoken by the Treasury Secretary is huge.
++++
massively huge
they CAN'T contain this anymore, plain and simple
["We're only two years from a cataclysmic financial crisis..."--Tres. Sec. Geithner]---Cole Younger
Thanks for the post, Cole.
"Cataclysmic financial crisis." Like that's avoidable.
The next step down is approaching. What I read into Geithner's comments is that the ground work for the blame game is underway.
No doubt the debt ceiling will again be raised by Congress. Kick the can down the road.
Get squared away. We're running out of road.
"that risk is inconceivable." Really?
BLS reports are like a moron Obama speech...all lies.
Abbott: You throw the ball to first base.
Costello: Then who gets it?
Abbott: Naturally.
Costello: Naturally.
Abbott: Now you've got it.
Costello: I throw the ball to Naturally.
Abbott: You don't! You throw it to Who!
Costello: Naturally.
Abbott: Well, that's it—say it that way.
Costello: That's what I said.
Abbott: You did not.
Costello: I said I throw the ball to Naturally.
Abbott: You don't! You throw it to Who!
Costello: Naturally.
A 2 line graph from 4Q '07 or so showing on the top line the upward-revised initial claims, and on the lower line the first-reported claims number, might reveal the manipulated and continual understatment versus the reality.
And similar graphs for the other statistics gamed by the federal cabals.
Fuck Obama. Stock down. Losing. Link to Wirecutter. http://thecivillibertarian.blogspot.com/2011/04/unemployment-up-ppi-up-g...
Suprise, the phony debt based, service, ponzi economy!
"We're only two years from a cataclysmic financial crisis"
Is Turbo Tax Timmy talking about the future, or past when he and Barama said they saved us from the brink?
Another issue to get Dickhead Durbin working on.........nah, not enough camera time involved for him.......
Lie By Revision
Barry Obummer's favorite, go to lie...
That ass puppet Haynes and his side kick Barbie Burnett on the blow-horn just posted the question, "Should the IMF be telling the US what to do"?
Here's the simple answer: No one else (ehemm... in government) is, so better them than the Obomatron or the Geitner Counter.
BLS makes sense only if preceded by a "W".
What does BTFD stand for?
As far as I can tell; Buy The Fucking Dip
The same very idiots that said we needed all the QE and fiscal stimulus to procure a recovery are now saying we need more debt and to implement austerity. What a joke-- they were wrong before and they will continue to be wrong again as it is now painfully obvious that these monkeyfuckers only serve to implement policy that benefits the top 1% and that's it.
Right now of the bigger idiots is talking on Bloomberg-- the so-called chief economist of the IMF is trying to say that the everything is rosy and their bullshit models are in control and have a good grasp of what's going on-- please give me a break. Their modeling is flawed, and listening to the interview it's also painfully obvious these morons are cut from the same rhetorical cloth. Slavery for the peasants and the continued benefit for the elitards. Hey douchebag-- here's the best solution for the fiscal problem and providing for the other 98% of the world: destroy the meaningless debt.
END THE FUNDING FOR THE IMF AND WORLDBANK. These financial terrorists need to be brought to justice. They have the vaguest clues of how economics really functions-- the very face of contradictions.
It will end peacefully or violently either way this slavery will end.
Maybe GS' bear-raid on commodities earlier this week was to help Benny buy the dip on cotton-linen paper and ink for his fiat-o-matic presses. Looks like PMs are queued up again after two days of being in "time out."
Speaking of PMs, anyone else notice that private deliveries of physical S&G taking a LOT longer to fill in the past couple months? I think the x-squared term in the polynomial is starting to eclipse the x...
el-erian has a good point. the difficulty with this inflation is that it the bottom of the curve, asset prices falling less quickly than personal income. those core items are being held up by the Fed, and is there anyway that raising interest rates will make homes and autos cheaper? Normally home prices would fall in a rising interest rate environment, but one suspects that sellers will learn to play the game. ex you want to sell a 100K home, but the bank will only go 75K on a loan because rates are going up. the seller then agrees to loan the buyer the money, at half the going rate, and in turn he gets full price. poor Bernanke, he taught us all the tricks.