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Initial Claims Surge Again, Far Worse Than Consensus As Prior Revised Higher As Usual
The BLS playbook in full force today: miss expectations of 405K - check, by printing at 414K; another weekly print over 400K - check (21 out of 22 weeks over 400K), revise prior week's higher - check (from 409K to 412K). Unfortunately, unlike two weeks ago when another blowout miss was reported, this time there is no striking phone carrier to blame it to. And as usual, those coming off their extended claims cliff keeps increasing, with 78K people dropping off EUCs and Extended claims: nearly 2 million people have been cut off from any extended government benefits in the past year. Overall, another weekly data set that confirms that next month's NFP number will most certainly not be positive... or zero.
Weekly initial claims... which are quite sticky.
And all claims which continue declining and have cut 2 million out of subsidized living.
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So that's why markets rallied hard... Very predictive of them. Oh wait...
I have a very large cock.
Just sayin'.
http://geraldcelente.proboards.com
Thanks for the continuing tallies, fuu.
bullish for ETFs, bitchez.
I admire your persistence.
oobrien.@
I have a very large cock.
Bet the neighbors are pissed at that SOB crowing every frigging morning like Obama.
Yeah no kidding huh? I'm short the S&P and I'm going to have an aneurysm watching it. I WOULD think that since the markets are going along swimmingly that the Fed couldn't possibly enact some kind of easing, but as you said...
Perfect backdrop for the POTUS not jobs speech
Yea but tonite he gonna dip into his stash and give out jobs yo!
Agreed...and again, this speech as a catalyst for equities [rising as credit burns] clearly indicates the bankrupt nature of Wall Street. Scraping the bottom of the barrel for catalysts, aren't we?
Good grief.
Obama has no intention at all of the 300B proposal being approved.
If it was approved, the debt ceiling would not last til election day.
I agree. It's nothing but a ridiculous political maneuver so he can tell us over and over again how he would have created or saved 2 million jobs had the mean-spirited Republicans only passed his innovative jobs bill. Oh, and the words "cops, firefighters, and teachers" will be said over and over and over.
Gonna hand out some Obama Money!
$300 billion for 30 minimum wage jobs, Woo Hoo!
Long-John-Silver
Hey dude, that's std GOVT jobs creation...................................look at what they get paid to destroy the nation.
IMPOTUS, more like.
BAC to close 600 branches and USPS firing 200 000 people might help the numbers to get to -600k next month.
revise prior week's higher - check (from 409K to 412K).
Yeah total coincidence that it has happened in EVERY SINGLE WEEK since AT LEAST 2007 uh? Always revised up, never down...
Yeah. I wouldn't like to play dice against the BLS guys. They're the sort of people who can throw 40 sixes in a row, it seems.
Or get 18 hole-in-ones on a round of golf? Fearless leader BITCHEZ!!!
Don't forget Payless closing 475 Stores...............folks are going w/out inexpensive shoes now.
Bring back the Postal Savings System. Convenient for military members and the banks don't want the small accounts anyway.
Oh, sure. And have the USPS treat those savings like the gov't treats the Social Security "lock box". No thanks.
If we think the Fed has the best game in town by being able to print money at will, you ain't seen nothin' like the USPS. They can print postage with any denomination on it -- for the same cost of production for all the "accountable paper" that they produce.
better yet, have the USPS start selling gold & silver from the US Mint over the counter.
I think we can blame this month's numbers on the HUGE and totally unexpected layoffs of non-unionized ice cream truck drivers this month. It's gotta be something.
double - delete
High unemployment in America?
Say it isn't so!
What a fucking shocker.
Will Superman please return to Earth and set everything straight!
That's a fucking order.
http://geraldcelente.proboards.com
SHIT! WE ONLY USED THE BAT SIGNAL AND FORGOT TO CALL FOR SUPERMAN!!!
Just as we orderd 2 big ass spotlights in New York near wallstreet on 9/11 on ground zero....
all for nothing....
The Morning Careless Whisper Report
New Hand-Built Sports Car: Made In Mexico
http://www.detnews.com/article/20110908/AUTO01/109080350/1148/Mexican-co...
Charles Manson "Caught" With Cell Phone
http://www.latimes.com/news/local/la-me-legislature-20110908,0,7962033.s...
SEC Will Stop Breaking The Law; No More Shredding
http://www.washingtonpost.com/business/economy/sec-orders-staff-to-stop-...
DC Police; New App For Suspicious Activity - iWatch
http://www.washingtontimes.com/news/2011/sep/7/dc-police-roll-out-new-cr...
Drunk DC Cop Alledgedly Shoots Tranny For Refusing His Advances
http://www.queerty.com/drunk-trans-shooting-dc-cop-a-danger-to-the-commu...
Detroit Schools First Day; 45 % Stay Away - Beauracrat Says "Off To Good Start"
http://www.detnews.com/article/20110908/SCHOOLS/109080402/1026/43K-show-...
Former German Defense Minister: 9/11 Was An Inside Job
http://www.spiegel.de/international/germany/0,1518,784673,00.html
Maybe that is why he is now the FORMER German defense minister. He went off topic.
I usually post the morning news items I find interesting under the Front-Running post about news. I know I'm off topic here; my bad. Oh, I forgot this one: New Ben & Gerry's Ice Cream Flavor (It was Alec Baldwin's idea)
http://3.bp.blogspot.com/-XfUcWuy7IBw/Tmin0NzI_aI/AAAAAAABI78/k5U87eDQDM...
DC Police; New App For Suspicious Activity - iWatch
People should be calling all the time... There's suspicious activity in congress and at the White House...
I should create a riot app that lets you send a live stream to all of the news agencies simultaneously
Crap, now I'm on yet another list...
I'm sensing a trend here.
I dont see how its possible we've lost this many jobs for so long. Theyre in full speed demolition mode while saying all is well to keep the sheeple calm with a check.
the real story buried in the Manson article:
Also Wednesday, the Assembly overwhelmingly approved a Padilla bill that would grant expedited legal review to Anschutz Entertainment Group's proposal for a 72,000-seat football stadium in downtown L.A.
"The goal of the bill is simply to get people back to work sooner rather than later," Steinberg said
translation : we need to get those union & contractors' donations into our election coffers stat!
also buried in the article:
The Assembly also approved measures that would allow San Francisco to raise its vehicle license fees and would implement a pilot project in four counties allowing hemp to be grown for industrial purposes.
So we're emulating the Chinese with our own 'ghost cities' now?
Charles Manson "Caught" With Cell Phone
The current photo of Baldy Manson looks just like Bennie "The Cue Ball" Bernank...
Uncanny Resemblance
Hell, they could be brothers...
due to the weather i preseume...
whats happenin with Katia?
Hah, yes - I was waiting for that...."With all the hurricanes, tropical depressions, earthquakes along Bush's fault...". Once upon a time, a disaster swath such as hurricane Irene would result in an increase in work - repairs, lots o' work to do, rebuild housing, etc. NOt so much anymore, I guess.
why rebuild when you can buy 6 houses in Detroit on Ebay for $12?
fracking earthquakes. dey tuk er jobs!
Obama will save us tonight~!
I am so sorry, but this is what popped into my head after reading your comment;
http://www.youtube.com/watch?v=Ua26qTEK25U
my bad.
No problem, markets reply to obvious economic collapse by rising a few % today, baking in more 'QE3 euphoria' which will consist of hand-holding some bond rate curves. What does 1 have to do with the other? Absolutely nothing, welcome to the New World Order.
He'll propose extending the jobless benefits beyond the current 99 weeks. Afterall it's those jobless benefits that stimulate the economy, and buy votes.
Pretty grim when the only real economic activity is people spending their govt handout checks.
But each $1 spent creates $1.84! Didn't you get the memo?
Because the unemployed go into 84 cents of debt?
And again it looks like those who BTFD in gold on yesterday's dip will be rewarded...but even sooner than last time.
me. added a a third. congrats me, merc, and the rest of you red pill eatin illuminati.
We can put America back to work. But first we have to be willing to accept that the new reality is $3 jobs assembling i-phones.
Trust and believe Apple will build a factroy alongside it's elitist campus and employ some unwashed masses if there's a profit in it.
And that's the problem. Profit is for them patriotism is for us.
Fuck em.
In other words, food stamps for everyone!! Oh wait, with only $3 jobs where or where will the tax revenue come from to pay for those food stamps... Rock meet hard place, even if the world goes to parity it still isn't sustainable.
Got physical? Know your neighbors? You better.
True......American's will be hired at 10X more pay, only when they produce 10X more work.
Already seeing it here, my girlfriend is now covering the work of 2 people for the same pay. Everyone is cutting staff to save costs and passing the hours around to who is left and if you dont like it oh well. She'd quit and go somewhere else but theres no better option anywhere around here.
sheepie--robo says thats bullish for stocks ;)
Oh it IS bullish for stocks when you close all your stores but 1 and now only have 1 employee, cost cutting is fabulous for the bottom line! Doesnt mean crap for growing anything but all that matters is stocks.
My wife is in the same boat, over the last 3 yrs they have reduced her department by 2/3 but the work is the same, she pretty much works 12hrs a day 6 and 7 days a week for the same pay from 3yrs ago. No raises, no bonus's and her company is teetering on bankruptcy on a monthly basis (global automotive supplier). At least she is in the finance department so when the file bankruptcy she will have a job for the 6 months of liquidation.
Mine, too. She started as manager and is now doing that, shift supervisor and working the shop floor as needed. And hasn't had a pay rise in 4 years.
But, like you say, there ain't shit out there that's any better.
Thats called servitude! I despise it!
Not 10X more work, 10X more productivity (net of all regulatory compliance costs and such). This is not difficult, and USED to be the norm in this country.
It isn't impossible to get there again. Just cut the red tape and get rid of special priviledges for unions (they are allowed to exist just like any other social organization, but giving them special protection is like saying you can't fire someone who is a member of the Lion's Club without the approval of thier board.
don't see the problem here--that part of the construct (i.e., cap'lizm) still working exactly as it was intended to. If you're industrious, persistent, ambitious, and ballsy enough to be the guy who invents the iphone and brings it to market, you get rich. If you'd rather not have to think much or put much on the line and collect a steady paycheck for repetetive toil, then you earn what the boss (i.e., the guy who invented the iphone) is willing to pay you. The profits aren't yours because you didn't do anything more than the next guy to earn them. If you don't like it, well then, you don't like capitalism and you're exactly what's weighing this country down. So keep whining, Mr. Albatross, and vote for Obama again.
Alternatively, if you'd rather ditch the entitlement 'tude and become one of the "haves" on your own merit, I'd suggest inventing a robot that can clean the house, pick up the kids from school, and perform certain oral/carnal acts to help relieve marital monotony and pressure. Think that's gonna be the next big industry--bigger than the auto industry by 2050. (Wild speculation.) If you post a thoughtful and coherent business plan, I bet you'd even find some investors here. Capitalists respond favorably to ingenuity.
so basically we have 2 options:
1 - outsmart the house, while playing by their rules, while they can change the rules whenever they feel like it.
2 - destroy the house or more likely die trying.
so many good options i don't know which one to pick
Fractional Reserve Banking= FAIL
So obviously the solution is more of it. Gee I sure am glad the very definiteion of insanity is not running the world or anything.
THis is about to get very ugly.
Unless you're a bank shareholder, or a politician that receives money from one, then Fractional Reserve Banking = # winning!
Here is my "surprised face":
* *
O
A weekly reminder of people/families impacted. I am honestly scared more scared than ever.
the markets ralied hard becuase the vast majority are by hft trading pieces of crap that aren't holding things over night.
You know what is funny...Obama thinks he is FDR...FDR had all these big jobs programs.....Dams...cannals...Obama can´t do things like that..to many enviros are against it....maybe he will have a daisy job....hire people to hand out daisys on street corners to people to keep them happy.....and then recycle them to make it a green job..
I want my daisy - the new entitlement!
I don't want to wait in line for my daisy. Just send me a check.
can someone go to jail for manipulating the claims data?
Rally on good news... rally on bad news ... hey we need some IV capital injection over here! STAND CLEAR
Right. obviously more QE3 expectations need to be baked in on top of the $2 trillion or so already priced in, nevermind that its never going to happen except for some already-failed hand holding of some targeted bond rates...the inmates are running the asylum.
Well, when you factor in Hurricane Irene, Texas forest fires, and the East Coast earthquake, of course it printed above 400k. Also, I bet a butterfly flapped its wings somewhere.
hi Oh Silver....away!
I predicted yesterday the next huge move will be silver. I BTFD. When you have massive buying on a 1:1 scale with Gold, a market 100x smaller, and more what's left of it above ground needed for industrial production and you see it taken down yesterday like it was you know it is nothing more than pure desperation by the TPTB. This is especially true when it coincides with a huge market rally on really crappy news. Really? Germany's allowed now to fund every indebted soveriegn forever now on the backs on their GDP? And that moved the DAX over 4% and U.S. markets 3%?
TPTB are losing control. You can see that with trading when POMO ended June 30th. Yeah, right. THe market had it's biggest one week rally since 1644 for no reason at all? What's amazing is Ben is doing this crap in broad daylight and no one even questions the sanity of these up moves anywhere in the MSM. This ponzi is either going to hyper inflate or deflate but either way the fucker needs to come down. Anyone still playing are national secrurity threats at this point.
Must be inflation, the jobs nonplan was supposed to be 300B, now it's being reported as 400B. Gotta get those votes.
It is meant NOT to pass. Obama calling everyone out on to the carpet, show me yours and I'll show you mine. He is betting that the GOP will start opening their mouths again for all to see their ignorance. At the very least popcorn sales should be up. Politicians are NOT problem solvers, they CREATE problems.
Crash the system, the sooner we do, the sooner compensation (in several forms) will find its way back to people who are actually worth a shit.
If by compensation you mean a designed disease and a whip cracked in your back, then yes.
I would entertain your idea if we were on some type of equal footing going into the collapse... unfortunately, some have an insurmountable head start...
In large part, the inflation/deflation debate is purely academic in that for the morts, we can choose between a cockmeat sandwich and a cockmeat sandwich. While our bureaucracy is completely bloated, it does form some rudimentary boundary for human rights... I agree that these basic rights have been significantly eroded over time and at some point will be gone, but printing does have SOME benefits... albeit temporary at best and not without cost.
I don't have an answer.
MUST.......UPGRADE.....MY........FOOD.........DEHYDRATOR......
Im checking my hydration systems too, another water purifier filter seems like a great investment today.
"Initial Claims Surge Again, Far Worse Than Consensus As Prior Revised Higher As Usual"
So only up 200 today instead of 300?
Good day for a joint congressional televised reading of the TOTUS. We're told Mr. Teleprompter is looking to place blame, following todays mistaken UE numbers.
And are we surprised. Gold up 46 dollars. Day to day action is impossible. We have our plan and it is working.
I guess there was a little friction with Rick Santelli and one of the guests. Thought Santelli's question is SS a Ponzi scheme was absurd. The truth hurts.
Such wild whipsawing in everything is proof its all about to implode.
are you friggin kidding me????????? headline out of yahoo finance reads:
New Jobless Claims Increase Unexpectedly
Here's a fun chart: the Google Trends result for 'unexpectedly', which goes back to 2004. Don't mind the search volume result, check out the chart for the volume of news references.
You should switch to the US region only too.
Unfortunately it seems there aren't country-specific results for news references as opposed to searches. (Here's the US result anyway - again, the news-reference chart is identical.)
And the quote from the article:
"Jobless claims numbers have been stabilizing in recent weeks. We're probably seeing an economy that's just growing slowly," said Gary Thayer, chief macro strategist at Wells Fargo Advisors in St. Louis.
What planet do these people live on?
You mean the MOTHER of ALL Hurricanes that wasn't, isn't the reason?
new normal bitchez
Jobs? We don't need no stinkin' jobs. We have the Chairsatan who tells us inflation is contained and warns us that lower prices are bad. Good Ole Chairsatan will do whatever it takes to keep the markets pumped so banksters and fraudsters get nice bonuses. Surely some of that wealth will trickle down to Joe Sixpack...
100% FUBAR.
I hope I can find someone to buy all these shares of FAZ I am holding. People on CNBC are idiots and people that believe what they say are suckers that keep funneling money to the wolves. I think the jokers on CNBC need to be tried for crimes against humanity.
Bernanke to speak at noon in Minneapolis. Interrupt scheduled programming for this. Otherwise wait for the NFL season opener. You can read about the O-whatever speech here, tomorrow. A Saints win means full employment for everyone, a chicken in every pot (or pot in every chicken), a Ron Paul victory in the presidential election, return to gold standard, voluntary decomissioning of all nuclear power plants, unilateral withdrawal of Israel from West Bank, death and/or imprisonment and/or exile to reptile home planet for all Illuminati shape-shifters.
Are we headiing back to March 2009? Jobless claims were 652,000 the peak for the recession.
Jobless claims are a nice coincident indicator, avoid stocks when claims are rising.
Just the last months job losses wipe out all the job gains that idiot Obama is always claiming we created.
my thoughts are with those 2 million who get no more benefits
Help me here. $800 Billion for bankers before Bush was chased out. I Remember the shields put in place not to see who was at the WH. Then the Dems spent another $800 Billion in Stimulis? Now Obama wants to print $3oo Billion for?
Please help me fill in the deets because the sheep dont know. Those that do cant keep pace.
Don't forget they bailed out GM too and HAMP and Cash for Clunkers...and I still don't have a free iPad to eat WTF!
Surely no one can be surprised by this. I would think that even if no one had filed for a new claim, the statisiticians at the BLS would haev made up a number that's worse than expected. After all, President Obama can hardly be expected to give a major jobs speech if the data shows things are improving. I would be very surprised if the next claims number isn't manufactured to show a significant decrease given that the President will have already given the speech. While it's always about appearances, until the 2012 elections are behind us, everything about appearances will be magnified even more.
harry? Harry? no see him long time. rumor has it his business expanded so much he went BK and he now is in line each week at the UE office..
Robo is still buying cause stocks are as cheap as they have ever been.
the canadian solar salesman went down with obumas favorite solar co.
and is right behind Harry in line here in the USA since Canada kicked his butt out.
Obuma is giving another speech on his laser like focus on jobs..
some how I want the repressed 50's back again..I like Ike.
I thought Math Man was giving everyone a shovel and job to dig silver and gold up for $5 an hour and that is Obummer's big plan.
ok looking @ short ERX @ 50
Initial claims > 400k, 153 out of the last 161 weeks.
Has the number ever been revised down?
Pat Quinn, state workers, Layoffs coming
Quinn to Lay off Thousands
http://www.nbcchicago.com/blogs/ward-roo...
Needed volunteers for the "take-out" projects.
What? Not blaming Verizon strikers this time around? Don't we need some kind of story to explain away our troubles?
Ron Paul doesn't want starving kids to eat!
http://www.youtube.com/watch?v=YrJ2Csf1l0Y
...at school. Where are the parents? And when did it become the gov't's job to feed anyone, let alone kids at school. Do we need to build dormitories next so the kids can stay overnight? Then will it become a "right" that every kid have a teddy bear and get a personal tucking-in? Dr. Paul wants the States to take control again, like they should have under the Constitution. If Nebraska wants to feed kids, fine, feed 'em. Keep the Feds outta the deal.
there are millions of common sense business owners and workers in America who could make decisions that would improve the jobs and the economy..for some reason lawyers and Poly sci & econ majors are in gov and thus we get this mess.
Times are tuff when they have to dragg in cramer in the AM. I really misss beeker Kneele. TD shined him up for who he was. It was fun though!
sath, that was chilling - Perry seems to be saying" hey dickwad get the memo? I am the next pres..they told me in Davos! now stop screwing around.."
the video appears to have been taken down--less I'm having a browser issue. that was awfully fast. Go TPTB!
I'm Gumby Damn It! Now you know things are getting bad:
http://www.freep.com/article/20110908/NEWS07/110908017/With-video-Gumby-calls-robbery-clerk-thinks-s-joke?odyssey=nav|head
I like how all claims tanked during Census handouts, sorry I meant hiring phase, then right back up to where it was after the door knockers got let go.