UNEXPECTED !! There, I said it first.
So increasing the numbers from last week by 5,000 will show a bigger drop for this week. The lap dog media will comply appropriately.
So what is happening every Thursday is that the government releases the much lower, “unrevised” jobless claims numbers and then we get the REAL numbers the next week with a whole new batch of much lower, “unrevised” jobless claims numbers. That’s one hell of a way to run a country.
Just dump a few thousand more from the total workforce and the unemployment rate will drop again. No problem.
Prior week revised higher for 98 out of last 100 weeks.
The BHO administration lying to the American public again! Can he go a single hour without some whopper of a lie?
Gradual? That’s one way to describe it.
An accountant would go to jail for playing these kinds of games with the books.
But, what is the total amount of those who no longer get gov bennies, have no job, quit looking for a job and are mooching on mom and dad for a place to live and food to eat, and beer money, and date night money, and borrow dad’s 12 year old Edsel, and, . . . you know.
Anybody watch the Janet Yellin dog & pony show in the Senate today?
She used the term “Price/Equity Ratio” to justify her Keynesian belief that the Fed “Quantitative Easement” is not causing some sort of stock market bubble.
Duh! She clearly doesn’t know jack about the stock market. She showed her woeful ignorance in stock market terminology by making up a term for something she doesn’t understand. The correct term is “Price/Earnings” ratio and that is a commonly used to determine if the markets are overvalued.
The concept of “price/equity” ratios is already expressed in terms of “price-to-book” ratios!
The problem the Berkeley so-called “economist” doesn’t understand is that were it not for the EZ-money policies of the Fed, the STOCK MARKET WOULD BE MUCH LOWER TODAY. Period.
As Peter Schiff said:
“I had my money on the assumption that Obama would pick Yellin... That was because I expect Obama will choose the WORST one of the possible candidates. And Obama didn’t disappoint...”
Wow... Schiff nailed it.
In the Senate hearing, all the Elizabeth Warrens and Chump Shumers of the world were gushing all over her. That should be a bad sign.