The Untold Story - Emergency Unemployment Compensation Claims Surge By 265k In One Week

Zero Hedge ^ | 12/3/09 | Tyler Durden

[Grim]

Even as CNBC, which seems to be unaware it is now under new ownership and can stop selling GE stock all day, every day (will Cramer be allowed to pump the worthless equities of competitor cable and satellite companies going forward? Inquiring minds want to know), could not stop praising the fabulous improvement in continuing claims which plummeted by a whopping 5,000 from 462k to 457k, one number that everyone ignored, is the explosion in Emergency Unemployment Compensation - yes, the same name for insurance benefits as they roll beyond their standard expiration horizon, and which the Administration is set on extending to cover a period from now to infinity. That number skyrocketed by 265,300 in one week to an all time record of 3,859,553 for the week ending November 14, from 3,594,253 in the prior week. The chart below does the collapse a little more justice.

[Grim]

More inconvenient truths about the economy. Not quite as rosy as the lying MSM and government flunkeys would have you believe.

[Gaffer]

The real story about unemployment numbers will only come when the lying MSM itself is part of that group. Here's hoping!!!!!!!!!!!!!!!!! For that Change!

[Tempest]

That’s because the MSM is busy trying to push the Holiday shopping hiring as an end to the financial collapse of America.

[Stultis]

Emergency Unemployment Compensation - yes, the same name for insurance benefits as they roll beyond their standard expiration horizon, and which the Administration is set on extending to cover a period from now to infinity.

"Never let a crisis go to waste." Zero has deepened and extended the recession with his job killing policies, and now he's unreformed and reinstituted welfare under a new name.

Welcome back to 1977, folks. Just hope to hell we have another 1980 to follow...