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Initial Claims Miss As California Catches Up With Claims Backlog
For the 4th week in a row, initial jobless claims came in worse than expected. According to the BLS there are no special adjustments for "glitches" or shutdowns or any other caveats and in fact California (at the center of the software glitch that impacted everything) saw the biggest 'drop' in claims: 13,033 as fewer layoffs in service, wholesales trade, and retail trade industries supported the data. If this is indeed a clean number, it is still the highest level of jobless claims in over 3 months. It seems, post-FOMC, that the market needs moar bad prints to spark some more momentum and a mere 10k miss is just not enough to warrant another BFTATH ramp (for now).
Charts: Bloomberg
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Looks like a massive stimulus package is required.
Oh... Wait... What..?
What the hell is Moonbeam Jerry doing over there?
http://4.bp.blogspot.com/-i-fYxu_WhY4/URgag1rySqI/AAAAAAAADcg/2AZtQkkrJOM/s1600/Moonbeam-Jerry-Brown-Taxes.jpg
http://31.media.tumblr.com/tumblr_liekyev5PN1qgeyd8o1_500.gif
Jerry is prepping Blonde Malibu Surfers and Orange County Mandarins for the $60 Billion HyperRail from Mexico to the LA "Safe Zone."
If Ben would just get to work and pump up QE to $200B per month we can fix this
Beating expectations, all the way down. I remain long sharecropping and black markets. These people are not simply "dissappearing".
The Fed loves those bad jobless claims numbers; it keeps their Market up.
tomorrow....it's a friday AND EOM.....double whammy for guaranteed super green ES
Most 401k plans already went into the "market" on wednesday. Remember no market operations scheduled for tomorrow (at least that we know of).
http://www.newyorkfed.org/markets/tot_operation_schedule.html
Glitch leads to tech surge. Bullish for India.
Over.
Gold getting hammered again, why?
The Fed said yesterday they are going to keep printing money...
Paper gold price is going down a little. Physical gold for 99.9% is now impossible to obtain.
Shutdown Effects!! Bullish!!!!
BFTATH
This is new. Does it mean Butt Fucking The All Time High?
Just wait until Cali gets OS/2 installed -- boom times!
PM's suckered lower AM, wait for the dinner bell of some fed goon off the record "leaking to the press, we are set to increase our bond buying d/t poor economic numbers"..wait for it , PM's will explode this week and it will be larger than an israeli cluster bomb.
Proof that more drastic action is required. It's time to go after the common man's pension. For their own protection, treasury bills will give them some security. Ben and janet can't buy all the bonds -the American public needs to be forced to get in on the act -for their own good, of course. To placate the fools who don't understand the wisdom of this course of action -give them a 5% discount on on any premium plan for Obamacare.
Bring on more bad news it makes the market spike higher. Ever higher into the stratosphere and beyond. The Zimbabwe market skyrocketed as well when they hyper-printed.
Did someone say Miss California?
BFTATH ???
California will get annihilated when they impose the employer mandate, not that LA already isn't a ghost town already (it is).
Business vacancies everywhere, at prime industrial & retail locations everywhere.
Who is thriving? The public sector, SEIU is huge.
Meanwhile the state is spending like its 1999