Unemployment claims at 500,000

http://www.cnbc.com/ ^

[Red in Blue PA]

Santelli on the floor of the exchange.

[screaminsunshine]

The market is disconnecting from the domestic economy. A job loss here creates many jobs overseas at lower cost.

[jiggyboy]

“even as corporate cash is at all time highs, corporate debt is just below all time records (and the recent decline in gross debt has only occurred courtesy of banks pushing up stock prices to artificially high levels, which has afforded many with equity refis opportunities to pay down existing debt, as well as asset dispositions). In other words, and this goes to shut up all those “cash on the sidelines” chatterboxes, net debt has barely declined from all time records. In a nutshell: total debt of over $7 trillion versus total cash of $2.6 trillion is still close to the highest net debt gearing in history.”

http://www.zerohedge.com/article/ending-cash-sidelines-fallacy-redux

“Put simply, there is a lot of apparent “cash on the sidelines” because the government and many corporations have issued enormous quantities of new debt, often with short maturities, while other corporations have purchased it. It is an equilibrium. The assets that are held in the right hand represent debt that is owed by the left. You cannot call that pile of short-term marketable securities an asset without calling it a liability. The cash on the sidelines is evidence of debt incurred to fund economic activity that is already in the past. It will remain “on the sidelines” until the debt is retired.”

http://theburningplatform.com/blog/2010/08/09/there-is-no-cash-on-the-sidelines/

[Joan Kerrey]

According to Pelosi this will be good for the recovery as it means that more unemployment checks will be circulated. This should definitely jump start our economy. /s

[4yearlurker]

Yahoo news states that “unemployment rises unexpectedly.”

On the same page they are reporting that Americans are “confused” about Barry Hussein's religion. #GAG#

[Abathar]

lol, never noticed him before.

[jiggyboy]

But you’re not thinking about buying stocks and bonds with it, that’s your cash in the mattress. Kudlow’s talking about billions at a time on many Fortune 500 balance sheets.

[TomGuy]

People who are not out in this job market searching for a job simply have no idea how bad it is right now.

I can empathize. In the '93 recession, I lived in Dallas-Ft.Worth. After sending out over 400 resumes, I had a total of 10 job interviews. I was competing with others of similar qualifications, as that recession hit engineering/technical areas the hardest. Around 8,000 engineering/technical people were hitting the UE rolls weekly.

I was in Tulsa in the mid-80s recession. You couldn't buy a job at McDonalds. The official UE was at 8.5% and the unofficial UE was about 13.5%. Many fled to Houston. I worked about 4 total months out of nearly 3 years. I survived using personal saving, doing some part-time clerical type projects, and by substitute teaching -- which paid $25 per day, but was not constant. I was lucky to sub 3 days per week, as there were many others waiting by their phones to get the calls to sub.

[xzins]

On your graph, 2007 is the year the Democrats took over Congress and it is also the year that unemployment started to rise.

Only Congress has the constitutional authority to spend money, tax, and directly affect the economy.

This unemployment squarely falls on the shoulders of Congress, and a president in agreement with them only makes it worse. When Obama took over in 2008, the combination of a Dem Congress and a Dem President caused unemployment to skyrocket.

[grania]

Even that list is incomplete. There have to be a real lot of younger people who've never been employed. They're stretching out their educations, since there are no jobs anyway. Everyone knows some of them.

In MA, the health insurance plan that the whole country will soon have allows them to stay on their parents health insurance policies until they're 27!

[austinaero]

“Unexpectedly, I unexpectedly unexpected this unexpected article to unexpectedly unexpect unexpected facts unexpectedly. “

You rock! What can you do with “unprecedented”?

[Onelifetogive]

A big republican victory in November could release the money spigot.

Funny thing is that the market always factors future possibilities in to prices to the maximum extent possible. This means that the market may start rising if people become convinced that the GOP is actually going to take back some control over the government. This increase will be spun by the Dims as evidence that their policies are working.

[Onelifetogive]

A big republican victory in November could release the money spigot.

Funny thing is that the market always factors future possibilities in to prices to the maximum extent possible. This means that the market may start rising if people become convinced that the GOP is actually going to take back some control over the government. This increase will be spun by the Dims as evidence that their policies are working.

[Vermont Lt]

I live in MA. They check our kids enrollment in college every semester. She doesn’t caRry a full course load she is off the insurance. You might want to check your sources on that one. (I will certainly recheck mine!)

[TomGuy]

DOW at -39 and dropping

[TexasFreeper2009]

500,000 again.

hope and change... lol

[Alberta's Child]

Understood, but I suspect my scale-back approach on the real estate side is similar to what many other investors are thinking about stocks, bonds, etc.

[paulycy]

[TexasFreeper2009]

unexpected !

Drink!

[Gabrial]

Dow is down

-10

-20

-30

-40

-50

still dropping

[St. Louis Conservative]

Recovery Summer!!

(that Biden line will never get old)

“Welcome to the Recovery”

-Tim Geithner from the NY Times.