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February 18, 2010

Another "unexpected" "surge" in new unemployment claims

Completely "unexpected". I'm beginning to get suspicious about the number of unexpected job losses. This might be an unprecedented number of unexpecteds.

The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January...
Unemployment up, prices up? You know what that means boys and girls; that's right; CARDIGAN sweaters, Stagflation, and best of all for all you folks in your 50's, all that tacky crap in the back of your closets will be back in style which should cut down your clothing costs for the next few years if you can still fit in them.

Also of interest/annoyance - that stimulus money that was supposed to go to weatherization of houses, has only cost $57,000/house so far.
It seems the only thing stimulated was the bureaucracy involved in administering it that had to calculate the "prevailing wage" for weatherization in 3,000 counties in the USA. They must have worn out a truck load of calculators and paid a lot of carpal tunnel disability claims working on that.

And for your pleasure morning chuckle - A slide show about Obama's mad skilz at faking interest in almost anything. Two links there, the first is a LAT piece, the second a NY Magazine piece with the actual slide show. Worthy of note is the LAT and NY Magazine taking cheap shots at teh prez.

[UPDATE]
US bank lending falls at fastest rate ever recorded!

Bank lending in the US has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.
...The M3 broad money supply – watched by monetarists as a leading indicator of trouble a year ahead – has been contracting at a rate of 5.6pc over the last three months. This signals future deflation. The Fed's "Monetary Multplier" has dropped to a record low of 0.81, evidence that the banking system is still broken...
I'm sensing mixed signals here. Are we going to get the Stagflation we all know and love, or will it be deflation? Cardigan buyers everywhere have a right to know these things!


Obama faking being impressed by a bolt





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