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Jobless claims jump, wholesale food costs surge
Reuters/YahooNews ^ | 1/13/10 | Pedro Nicolaci da Costa

Posted on 01/13/2011 9:30:04 AM PST by Kartographer

U.S. jobless claims jumped to their highest level since October last week while food and energy costs lifted producer prices in December, pointing to headwinds for an economy that has shown fresh vigor.

However, a surge in exports to their highest level in two years helped narrow the U.S. trade deficit in November, an encouraging sign for fourth-quarter economic growth.

Despite a string of recent data that had signaled a pickup in the economy's momentum, the figures on Thursday showed the job market continues to struggle.

The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, a Labor Department report showed. It was the biggest one-week jump in about six months and confounded analyst forecasts for a small drop to 405,000.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS:

OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Feeling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault damn fault.

1 posted on 01/13/2011 9:30:05 AM PST by Kartographer
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To: Kartographer

Boehners fault.


2 posted on 01/13/2011 9:31:14 AM PST by EQAndyBuzz ( Happy Freeping New Year)
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To: Kartographer

Don’t worry guys. During the political pep rally, errrr wake, last night, The One made my leg tingle like crazy. Prosperity is right around the corner!


3 posted on 01/13/2011 9:32:00 AM PST by Tulane
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To: Kartographer

I was surprised when I looked at a calendar and saw it was January- I thought we were still in “Recovery Summer!” I wonder if Biden knows?


4 posted on 01/13/2011 9:36:35 AM PST by philled (Lay on, Macduff! And damned be him that first cries “Hold, enough!”)
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To: Kartographer

5 posted on 01/13/2011 9:37:07 AM PST by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: Kartographer

Remember, surging is just one small step below soaring in the cosmos of hyperbole.


6 posted on 01/13/2011 9:37:14 AM PST by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: Kartographer

Now check the prices on car parts and tires. You’d be amazed. Some say the price of tires have almost doubled.


7 posted on 01/13/2011 9:38:38 AM PST by RC2
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To: philled
I wonder if Biden knows?

"Yup! I'm right on that! Yessiree!!"

8 posted on 01/13/2011 9:39:26 AM PST by ScottinVA (The West needs to act NOW to aggressively treat its metastasizing islaminoma!)
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To: Kartographer

Thanks for posting.

The leftist hysteria about the Tucson shooter has covered up the lousy economic news.

Printing funny money will lead to higher prices.

Get ready for Jimmy Carter redux. Mega inflation is about to be upon us.


9 posted on 01/13/2011 9:41:05 AM PST by Presbyterian Reporter
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To: Kartographer

Unexpectedly...again.


10 posted on 01/13/2011 9:41:29 AM PST by ez ("Abashed the devil stood and felt how awful goodness is." - Milton, Paradise Lost)
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To: Kartographer
However, a surge in exports to their highest level in two years helped narrow the U.S. trade deficit in November, an encouraging sign for fourth-quarter economic growth. ?I>

A surge in exports?

Must have been all those Kwanzaa gift baskets being sent back to the homeland.

11 posted on 01/13/2011 9:42:23 AM PST by N. Theknow (Kennedys: Can't skipper a boat, Can't drive, Can't ski, Can't fly. But they KNOW what's best!)
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To: ScottinVA

Great pic of Junior! Should be his official portrait!


12 posted on 01/13/2011 9:46:18 AM PST by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: Nachum

ping.


13 posted on 01/13/2011 9:46:36 AM PST by Jet Jaguar
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To: philled

just wait until March.
I recieved notice that prices were increasing 5%. This after the 7% price increase that we were unable to fully pass on to our customers. Now, we have to prepare for the next increase.
Ever bought 18 tires at once?


14 posted on 01/13/2011 9:49:34 AM PST by griswold3
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To: N. Theknow
Well, the cheap dollar is helping the export. It is also causing any products will oil in them to inflate. I.e., food, gas.

But there is no inflation. (barf)

15 posted on 01/13/2011 9:50:28 AM PST by Parmy
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To: Kartographer

Cool—so the stuff we can’t afford because we don’t have jobs costs even MORE now. How’s that hopey-changey thing working out, libtards?


16 posted on 01/13/2011 9:53:08 AM PST by OCCASparky (Steely-eyed killer of the deep.)
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To: Kartographer

Milk is over $4/gal in SW Ohio. In 2005 it averaged $1.67/gal


17 posted on 01/13/2011 9:56:12 AM PST by Zuben Elgenubi
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


18 posted on 01/13/2011 9:56:32 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Kartographer
pointing to headwinds for an economy that has shown fresh vigor.

It is entertaining to see how many ways the DBM tries to dress up this corpse of an economy.

19 posted on 01/13/2011 9:56:59 AM PST by 6SJ7 (atlasShruggedInd = TRUE)
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To: ScottinVA
In a nearby suburb:


20 posted on 01/13/2011 9:58:34 AM PST by Zuben Elgenubi
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To: Kartographer

Prices on necessities, food, and energy have increased. Prices on “thrill” items remain the same or go down as there is too much supply and not enough demand for them.


21 posted on 01/13/2011 9:58:59 AM PST by Thunder90 (Fighting for truth and the American way... http://citizensfortruthandtheamericanway.blogspot.com/)
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To: Kartographer

So you say you want a Revolution well you know.....

Well, the rich can always eat.


22 posted on 01/13/2011 9:59:59 AM PST by Cisco Nix (Because the left is ugly and the right is beautiful.)
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To: griswold3
Ever bought 18 tires at once?

Have you tried finding 8 matching semi drive tires lately? We had to go two states away to find'm. ...and the price........

23 posted on 01/13/2011 10:01:04 AM PST by Pure Country (“I’ve noticed that every person that is for abortion has already been born.” -Ronald Reagan)
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To: Pure Country

i can find them in Cincinnati. But,ouch, ‘the price’ is right!


24 posted on 01/13/2011 10:05:53 AM PST by griswold3
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To: Kartographer; secretagent; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; ..

Good thing they licked that deflation. Who would want decreasing or constant food and energy prices when you are out of a job? Let’s inflate our way out of this recession.


25 posted on 01/13/2011 10:08:03 AM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: Kartographer

I dunno how but they will find a way to blame it on Palin


26 posted on 01/13/2011 10:17:01 AM PST by alexbg
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To: Kartographer

http://www.youtube.com/watch?v=5NNOrp_83RU


27 posted on 01/13/2011 10:28:06 AM PST by Rational Thought
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To: Presbyterian Reporter

This economy sucks big time. Private sector is barely staying alive. Hopey changey is failing miserably and the knuckleheads on the East Coast just don’t get it.


28 posted on 01/13/2011 10:42:07 AM PST by lone star annie
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To: Zuben Elgenubi

on the bright side, once it becomes too cost prohibitive to truck liquids across the country, the price of steak will fall for awhile...do i really need a /s ???


29 posted on 01/13/2011 10:43:01 AM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: sickoflibs

soon we wont be able to afford to work...its a ‘win/win’...


30 posted on 01/13/2011 10:44:53 AM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: Gilbo_3

There is always food stamps.


31 posted on 01/13/2011 10:46:05 AM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: sickoflibs
re 'foo sams'...whats gonna happen when they cant program the EBTs with enuff zeros to cover the cost of a gal of milk...???

how long before we get the new obambambabwe dollars ???

32 posted on 01/13/2011 10:54:50 AM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: sickoflibs

” Good thing they licked that deflation. Who would want decreasing or constant food and energy prices when you are out of a job? “

LOL!!


33 posted on 01/13/2011 11:29:47 AM PST by stephenjohnbanker
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Comment #34 Removed by Moderator

To: RC2

I just priced a new set, $600 for 4 that I bought two years ago for $400. That is at Sam’s Club and not a tire store.


35 posted on 01/13/2011 1:13:35 PM PST by razorback-bert (Some days it's not worth chewing through the straps.)
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To: Kartographer
Photobucket
36 posted on 01/13/2011 1:59:29 PM PST by Hypo2
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To: sickoflibs; Southack

How much actual money supply inflation is there?

If banks don’t loan, then the money supply doesn’t grow, right? And that’s what I keep hearing on the TV: the banks are sitting on their “cash”.

As for food and oil price increases, why isn’t that due to increased demand?


37 posted on 01/13/2011 2:11:23 PM PST by secretagent
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To: Hypo2

Looks like an Obama voter!


38 posted on 01/13/2011 4:00:56 PM PST by jacob allen
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To: secretagent
RE :”As for food and oil price increases, why isn’t that due to increased demand?

That is explained in the title. Employment is down, yet food and oil prices are skyrocketing. The demand will come when more people are employed, then you will see serious inflation eventually killing the recovery.

39 posted on 01/13/2011 5:28:08 PM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: Kartographer
Nicely done! ................................... FRegards
40 posted on 01/13/2011 6:36:59 PM PST by gonzo ( Buy more ammo, dammit! You should already have the firearms .................. FRegards)
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To: griswold3
"Ever bought 18 tires at once? "

Only 6, once.

41 posted on 01/13/2011 8:07:13 PM PST by Paladin2
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To: Zuben Elgenubi
stock up on food whenever there is a sale, even a small sale...

.buy a second frig. for the garage and keep milk, butter, eggs there and rotate, rotate, rotate...

.don't waste any car trip...going to work?...do grocery shopping on the way home...etc...

gas is going up so ANYTHING that requires transportation is going to be higher cost..ANYTHING that requires a little petroleum product is going to cost more...all your plastics,etc.....

42 posted on 01/13/2011 8:12:26 PM PST by cherry
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To: sickoflibs

Foreign demand for oil can account for its high price.

Food is high because of the ethanol subsidies, foreign demand, and weather setbacks.

What’s wrong with those explanations?


43 posted on 01/14/2011 6:52:44 AM PST by secretagent
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To: Kartographer
Carter-FINALLY Pictures, Images and Photos
44 posted on 01/14/2011 7:01:38 AM PST by Moonman62 (Half of all Americans are above average. Politicians come from the other half.)
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To: secretagent; ding_dong_daddy_from_dumas; stephenjohnbanker; calcowgirl
RE :”Foreign demand for oil can account for its high price. Food is high because of the ethanol subsidies, foreign demand, and weather setbacks. What’s wrong with those explanations?

Maybe some increased foreign demand but more-so we are destroying the dollar with QE2 which is nothing more than monetizing the national debt.

Back under Bush when gas and food prices skyrocketed we heard the same arguments, that they had nothing to do with the devaluation of the dollar until the 2008 market crash and the rush to the dollar and food and oil prices went down, Yes Virginia, the value of the dollar does affect prices after all.

And Bernke’s response to rising prices? QE2!

This tutorial might help you:Quantitative Easing Explained

45 posted on 01/14/2011 8:45:25 AM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: sickoflibs

How many new dollars have entered circulation with QE2 and how does that compare with the total amount of dollars in circulation?

Does that fractional increase of dollars in circulation track the general price inflation?

What is the general price inflation? Is it the CPI, which only increased .1 percent lately?

What fraction of the price increase in oil comes from monetary inflation? What fraction for demand?

Assuming that most of the price increase in oil comes from monetary inflation, what causes the monetary inflation to affect oil more than other products?


46 posted on 01/14/2011 10:11:08 AM PST by secretagent
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To: secretagent
RE :”What fraction of the price increase in oil comes from monetary inflation? What fraction for demand? Assuming that most of the price increase in oil comes from monetary inflation, what causes the monetary inflation to affect oil more than other products?

What demand is increasing? We have 10% unemployment and we are the main consumers of the world.

For one thing oil (energy) and food are hedges against future dollar devaluation because everyone expects them to go up the highest as before. So they are the canary in the coal mine. They will be consumed as the prices rise.

Under Bush it was energy, food and housing too, but the housing bubble truly caused an long term over-supply of that unlike food an energy.

Remember that the fed is trying to devalue the dollar

47 posted on 01/14/2011 10:39:09 AM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: sickoflibs
“Developing world” demand increasing:

The developing world led the rebound, according to the report, with gasoline demand rising 8% in China and 11% in India.

Worldwide, oil demand is poised to grow by 2.5 million barrels a day in 2010 — one of the largest growth rates on record, according to the Wood Mackenzie report. Eighty-five percent of that growth is expected to come from the developing world.

http://money.cnn.com/2010/12/10/news/economy/oil_demand_prices/index.htm

48 posted on 01/14/2011 4:59:59 PM PST by secretagent
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