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Thursday, December 10, 2009

U.S. Unemployment Claims Rise - Dec 10, 2009

New U.S. jobless claims rise(Dec 10, 2009)

"When I boil this data down to the raw ingredients, there is nothing to be happy about. Last week another half-a-million people signed up for government money and 300,000 lost their government money. So for nearly 800,000 folks, things are looking worse. And this happens every WEEK?
While the Labor Department tries to make us all believe how wonderful it is to have 5 weeks of declines in the unemployment numbers, the Commerce Department boasts that exports are rising. Exports hit their highest in a year, but they neglected to give us the actual statistics. Our trade deficit shrank roughly $2.6B, sounds like we are just not buying imports rather than the Commerce’s idea that we are exporting more.
None of this seems a clear signal of good things to come, our labor markets are stabilizing… but at the bottom. I doubt very much there were 35 million people waiting in soup lines in 1929. Today that number (35 million) is on food stamps and only god knows what the homeless numbers are. From my personal view of the “neighborhood” people are not paying their debt: mortgages, car loans, credit cards, school loans. We are not going to give our money for stupid purchases we were duped into buying with slick advertising & free money. If the moneys not free anymore… come take away your products, we really don’t need them.
Soon the working people of the world will realize that we are at war, government against government, company against company, and our hard-earned money is the endless ammunition for both. There is no limit to the things they will try to get our money and win their wars. So I advice us all to save every nickel, buy only in your community, and cut your losses now."

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