Posted on 09/10/2009 10:47:32 AM PDT by NormsRevenge
WASHINGTON (AFP) – New US jobless claims fell to 550,000 in the past week, the government reported Thursday in a sign of further healing in the critical labor market.
The seasonally adjusted number of claims fell by 26,000 in the week to September 5, the Labor Department reported.
The figure for weekly claims was better than analyst expectations for 560,000.
The four-week moving average, which smooths out week-to-week volatility, was 570,000, a decrease of 2,750 from the previous week's revised figure.
(Excerpt) Read more at news.yahoo.com ...
>>Why is the stock market going up? What is the latest comspiracy theory to explain this?<<
Well, you gotta put the dollars somewhere and all the mattresses are full.
Geithner is on TV right now and there’s a gal with a sign behind him that says “Where did the $ go” and “We need jobs”, LOL!
Great minds and all that...
ANYBODY that thinks the economy is getting better should not have the ability to vote or reproduce.
I presume she'll be made to apologize.
Good news: The recession has ended.
Bad news: The Depression has begun.
Actually, I think you are wrong about this. I believe banks are parking their TARP cash in U.S. Treasury bills -- which explains why interest rates in the U.S. are so low these days even though the Federal government is running an enormous budget deficit.
Only part of their cash. Not all. It makes sense because the gov’t is giving them money for free and then borrowing it back and paying interest.
If you look at the Treasuriy auctions lately, it shows ‘indirect’ parties are buying an increasing amount of the debt. The MSM trys to portray this as meaning central banks of other countrie are soaking up the debt, but in reality a large part is banks doing the gov’t bidding.
Sept. 10 (Bloomberg) — The Treasury Department’s $12 billion sale of 30-year bonds may draw a yield of 4.289 percent, according to the average forecast of seven bond-trading firms surveyed by Bloomberg News.
The auction is a reopening of the record $15 billion 30- year bond sale on Aug. 13, and the securities mature in August 2039. They yielded 4.305 percent in pre-auction trading. Bids are due by 1 p.m. New York time.
The August sale of the so-called long bond drew a yield of 4.541 percent, the highest in two months. The bid-to-cover ratio, which gauges demand by comparing the amount bid with the amount sold, was 2.54, compared with 2.36 at the July auction. The average ratio for the past 10 sales is 2.31.
Indirect bidders, the class of investors that includes foreign central banks, bought 48.1 percent of the notes at the August sale, down from 50.2 percent at the previous sale. The average for the past 10 auctions is 34.5 percent.
An absolute pack of BS lies, this article is. There is that “expectations” word again. This would be considered a losing month by anybody.
The Labor Day weekend may have influenced people attending family vacations to delay making new claims. Monday the unemployment office was closed so this week new claims will be down about 10%. Next week claims will probably shoot back up.
Is that spin or what? Over half a million people lost their jobs, but this is good news.
May I steal a line??
Less bad is the new good...(repeat ad infinitum)
Obama says he's saved or created 1,000,000 jobs.
Obama, you lie!
Wall Street hates uncertainty. As it becomes clear that we are thoroughly and permanently screwed, they become less uncertain. Hence, the market rises.
Just kidding. You could say that businesses have been forced to squeeze out their excesses, and are more lean and mean now, and that the market anticipates the future so it is rewarding the efficiencies business will experience when the recovery begins. Or you could say that the big boys are pumping things up to make some cash before we go over the next cliff. Maybe neither. Maybe both.
you watch in a few weeks on a friday afternoon there will be a revised number that shows it actually went up.
But I haven’t finished my countdown yet!
If you look locally, there is no new building of houses and foreclosure sales have hit their peak (atleast for the time being). House prices are slowly rising, but will never likely hit those high for sometime. Unemployeement at its current level is terrible but it shows sighs of slowing. That doesn’t mean the recovery is coming but it means the stock market is finding it’s middle ground. 6 is too low, 9...is about right.
I think everything on a tedious path....it can go south quickly or it can slowly go back to sanity. I tend to think if the white house doesn’t over reach itself, then the market with recover in due time.
When you “stick” a hog the blood gushes like a water hose at first and then it slows until it becomes a trickle. I suppose the slowing of blood flow must be “a sign of further healing” but I doubt you could convince the hog of that.
It is insanity to think that we are recovering simply because we have slightly fewer people being laid off in a given time period when the total number of employed is stil dropping sharply and new people are entering the workforce constantly. They never bother to state what PERCENTAGE of employed people lost their jobs during the period in question.
I have never seen so much spinning, if a Republican occupied the white house we would be hearing how bad things are even if total employment were increasing rather than dropping like a stone as it is. This recovery we keep hearing about is so hard to see because it is obscured by flying pigs, frog’s hair and hen’s teeth. Oh, I forgot to mention huge herds of Unicorns.
Remember, after the crash of 1930, the market rallied even more strongly than this one has. Only to crash and burn and play dead for several years thereafter.
Look at it this way -- a 50% reversal, by no means out of the question, would take this market from a Dow of 6600 to a level around 10,500. That is what happened after the Great Crash, and which prompted Herbert Hoover to run on the slogan "Prosperity is Just around the corner" in 1932. Financiers of the day, like Andrew Mellon at Treasury agreed with him; just as the einsteins of today, like Little Timmy (Mommy please cut my meat for me) Geithner perceive "green shoots" in the desert.
Do not be deceived by false front goobermint and media circle jerkers. All they want is a good tradeable bump to help them get out whole before the whole f*ing issue blows sky high.
The other day I had occasion to drive through Avon, one of Northeast Ohio's more affluent suburbs, a town of little boutique stores and businesses, frou-frou little "historic districts," and on the fringes, the large bigbox dominated shopping center next to the freeway exit. There were as many vacancies and empty store fronts and never opened "for lease" buildings in Avon as in the down-on-their-luck- blue collar inner 'burbs. The Obama recession has gone viral.
Good news: The recession has ended.
Bad news: The Depression has begun
Post of the year!
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