Posted on 05/16/2013 5:49:23 AM PDT by Perdogg
We didn't really need a confirmation that the economy was deteriorating and completely disconnected from the "market", but we got it nonetheless. First, Initial Claims coming at 360K, on expectations of 330K, the worst print and worst miss in six weeks, confirming that weekly data is largely noise and that there is no sustainable downward trend. The May 11 weekly print adjusted and unadjusted were 360K and 318K respectively, virtually unchanged from a year ago at 373K and 325K, showing that in one year there has been essentially no progress, and that weekly initial claims of 350K is the new normal.
(Excerpt) Read more at zerohedge.com ...
It looks like Obama’s deal with the devil has finally come due...
And Obamacare is just getting warmed up. Wait ‘till those 400% premium increases start kicking in!
Brace for impact.
Slight correction. I think the impact will be 40% which is still a complete disaster. If it were 400% a family paying 3,000 a year would have ended up paying 12,000. Still at 40 % they will be paying 4,200, 1,200 gone for NOTHING.
Actuall the 400% is accurate. They are predicting that in just 5 years or so the Average Healthcare Plan will cost 24,000 a year.
Who are “they” - just for reference
This stock market bubble will burst with a horrible bang soon. It is hyper-inflated by the Federal Reserve making it impossible to find income in the more stable income streams, which of course, penalizes savers and promotes their entry into very risky stocks.
When this bubble bursts, the government will no doubt print more funny money to bail out the large corporations whose stocks will plummet. Big Government takes care of its cronies, but retain investors will be left holding the empty bag again.
Unexpected!
On a positive note, Housing Permits exceeded 1 million and Single Family Permits exceeded 600K both for the first time since 2008.
And the CPI decline means a) the hyperinflation folks are losing their argument. Badly. And b) the Fed will not taper anytime soon. That makes David Tepper really really happy. My Cousin Vinny kind of happy.
Here's a cool chart from the Director of Research for the Fed:
Wait. Wait.
Aren't they really one and the same?
Where I reside, there is actual new growth. Projects on hold have resumed. There is new commercial construction.
The buzz is picking up.
To mean that means the macro numbers don’t reflect the apparent unbalance in the economy. Detroit will never recover. Buffalo, in spite of the TV Obamaesque TV commercials will never recover.
Raleigh Durham, Nashville, etc will grow. The growth will take time to equal the decline in Detroit, Buffalo and Philadelphia
One more indicator.....
Forbes recently published a graphic indicating the volume of freight traffic. I 81 was the heaviest corridor. I 81 in now congested with trucks. The I81 traffic is a very positive indicator of natonal economic activity
Not all ignorant libs are journalists. Many aren’t even that useful!
Democrats with bylines. I wouldn't call what has become of that profession useful.
Wait. Wait.
I suppose you could call prostitutes useful.......
Good info. Thanks. Our construction related business is seeing high double to single digit growth in Phoenix, San Jose, Charlotte, KC, and Houston. We are also seeing strong declines in Philly.
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