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Rate-Hiking Time? Initial Jobless Claims Hold At 42 Year Lows
Initial jobless claims fell 11k (on an adjusted basis) to 264k last week - hovering near its lowest level since 1973 as firms hoard labor leaving The Fed stuck between an "everything looks awesome" rock and a "well we have to admit all these indicators are bullshit" hard place...
Seasonally adjusted...
And non-seasonally adjusted... officially the lowest level since 1973...
Seems like the ZIRP Emergency Is Over!!
Charts: Bloomberg
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Did we even have a population of 94 million 42 years ago?
Hike it Kyke.
Why would anybody think the numbers are bullshit? Jeeeeesh, people!
Try to imagine a country with debt-free money where markets work freely and honestly. Under such a system, all of this manipulation of rates / loosening & tightening / and every other form of control and corruption would be virtually eliminated. It is that simple. Eliminate the usurers and everything returns to a normal workable stasis.
I say they puss out. No hike. BTFD.
"The economy continues to improve but a hike in rates will await stabilzation of the current transitory market events"
Of course we can trust the numbers but we have to keep other aspects of the economy in mind and not be too hasty in returning to normalcy.
Sat what again?
The psycho-babble is splufenduous!
Mass immigration/mass incarceration probably canceled eachother out. The loser is the working, white, dad.
So when is the big announcement? They won't do it...... What time do we find out? I bought 3 more ounces of Gold Yesterday...so sorry guys...It will fall now.
In 1973, persons collecting unemployment insurance (UI) benefits had to visit a UI local office to sign up for their benefit payment. In New York City, clerks on a continued claims line would generate an IBM punch card for each applicant claiming weekly benefits. In other words, there was a physical record of the visit. A really rotten system, designed to degrade the applicant, complete with sometimes checking on whether the applicant was "A&C," available and capable for work. One applicant with a UI book, one punch card. Hard to tamper with that system's statistics in a big way. Eventually, the UI system changed to benefit applicants using the Internet to file for weekly or biweekly their UI benefit claims, a paperless sytem.
By the '90s, everything switched at UI to a phone call-in system, with the applicant calling (from only his home phone number) to verify his continued unemployed status. All the local UI offices were now redundant, so they closed and most of the UI employees had to find a job elsewhere in the system or file for benefits themselves when they lost their jobs. Landlords who had rented out the UI offices to New York in many cases had to renovate these decrepit offices and clear up problems like friable asbestos in the buildings that formerly housed UI local offices. Then and now, there was near zero news coverage of how, physically, the UI system operated.
Politicians of both parties profited from the UI system, from the overpriced office leases they got for their friends and from the patronage jobs and provisional jobs that went to political clubhouse friends.
Now the UI system is again providing help to politicians, by rigging the UI benefit applicant numbers so that the worst unemployment rate since 1937 is fraudulently changed to the lowest jobless rate since 1973.
Nail meet coffin. Here comes the rate hike.
Pull it
Nope Don't
wtc7, it just fell down all by itself. /s
buildings do that sometimes. seismic vibrations or something like that. /s
I rest easy knowing the Fire Department can bring down a skyscraper in a instant with a magic button.....if needs be.
Imagine how fast it would have fallen if it were in Chile last night. Its truly amazing that there are ANY building standing there.
give yellen a $21M bonus. she's earned it.
isnt she the ceo, 21 mill... big deal, shrug
'rates will never rise in my lifetime'.....gee last I heard Bernank is still alive huh?
Maybe today is his lucky day then?
All this hoopla over 25bps...we are truly FUBAR.
vincent this cynicism simply will not do. you get out there and buy OR sell OR BOTH god dammit
.25% ^
Overlay the workforce participation rate graph and it will all make sense.
Splain your way out of that one, Janet.
She will do it.
The Financial Times gave their blessing.
Considering how many people that are left who qualify for unemployment, I am surprised that number isn't lower.
There is a whole industry that revolves around transferring people from unemployment to disability.
I absolutely love this 'predictament' and it's just a glaring example of how lies will always come back to bite you in the ass and no one ever learns from it.
Ashame fo the newly laid off in states who have slashed unemployment based on bullshit lies of recovery.
now or never
With over 94 million workers out of work, it's no wonder the jobless rate is dropping.
... wait a sec....
Do you realize that some people are confused by that simple proposition?
One of my Progressive buds seems to think that it's the miracle of socialism's life long paid vacation or some such shit, but simply cannot cope with the idea that anybody would "fiddle fuck" with the numbers.
Amazing the stupidity out there. That's ok, the crash will hit almost everyone eventually.
You said it!
The average Merican is so Gruberized [aka stupid] they do not realize how fake and/or manipulated these numbers are. Some pretty smart people at work smile saying, "Why are you so depressed Loki, jobless rate is down again and the Fed said the economy is recovering."
oi vey!
Making it up as we go along to suit the lies, games and fraud!
Look at the graph and tell me "WHAT HAPPENS NEXT????" In every case it goes rocketing back up. Probaly because someone fucked with the interest rate....
"THIS IS THE MOST IMPORTANT RATE HIKE, EVER!
"Who said that? Which one of you slimy little shits said that? No one? Well, it must have been your fairy fucking godmother!"
Why would all the Trustifarians want a rate hike?
94M long term unemployed is about 8 times the population of Greece. If and when the shit hits the fan, I wonder where American refugees will flee to?
Went to the Laundromat at 6am this morning. I was the only one doing laundry. The rest of the folks there were homeless people watching me do laundry. A very pretty Hispanic girl came in to quietly preach the gospel to the homeless. Bright lights, plastic chairs, and a clean restroom - everything is good in America!
Buy a fucking washer and dryer. Get some assets.
Got a house and land (all paid for) just no washer and dryer at the moment.
Laundromat used to be great place to scoree some pussy
This immediately reminded me the good old USSR. Where everybody has to be employeed somewhere. Unemployement was illegal.
Welcome, USA! You've succesfrully arrived at your final destination
There's some German saying about that. It's good to have a porpoise in life.
I like these types of jibby-jabs at the FED because they [this article and similar articles] are saying "oh if the economy is so good, why not raise rates?" and if the FED reads them, then they will be forced to admit and elaborate on the actual shit-ality of the economy, since it's all a big show.