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Unemployment claims go down; BUT..one large state didn't report it's data?? And people said Jack Welch was crazy; he's looking pretty smart now isn't he?

Space Invader 2012/10/11 13:22:20
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This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008. The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise. It is also sad that the US "economy" has devolved to such trivial data fudging on a week by week basis, which makes even the Chinese Department of Truth appear amateurish by comparison. Needless to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the past week but who's counting. Finally, what is the reason for ongoing QEternity if the employment situation is now back to normal. Finally, in completely ignored news, because who needs global trade when you have toner cartridge, and generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on expectations of a deterioration to $44.0 billion. Then again nobody talks about the US trade deficit during presidential debates so all good here.
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  • BigEyedFish 2012/10/11 20:40:44 (edited)
    Jack was right all along
    BigEyedFish
    +1
    I worked for a defense contractor, started out as RCA, became GE and later Lockheed Martin and learned to respect Welch years ago! Thank God for his candor!!

    I think it's a sin that people are celebrating these numbers while the number show that more people have exhausted their unemployment and still do not have jobs! It went from 250k to 330k who are no longer "draining Obama's campaign" and making his numbers look bad and that's acceptable? Why is that acceptable?

    I pray for those who are forgotten by the statistics.
  • Mr Chin 2012/10/11 19:34:08
    Even a blind lib can't explain this away
    Mr Chin
    +2
    Sounds like dirty pool to me...
    pool shark game
  • Trader1 is kerbonkin' 2012/10/11 17:59:02
    Even a blind lib can't explain this away
    Trader1 is kerbonkin'
    +2
    It's being whispered the large state is California.

    This has been a consistent ploy since this administration took over. Report lower unemployment numbers, higher job creation ... wait a couple weeks, then revise up and down respectively. Numbers are always revised, yes, but in Bush's terms, they were always revised to the better, not worse.

    It's a psychological thing. People remember the first numbers coming out but normally pay little attention to the revisions.
  • No nonsense NanC...don't BS... 2012/10/11 17:39:02
    Jack was right all along
    No nonsense NanC...don't BS me!
    +3
    The only people who are trying to discredit Jack Welch are 0-bots, LSM and the
    0bama campaign......... Others are speaking up and saying Jack was spot on.......
  • No nons... No nons... 2012/10/11 18:31:41
    No nonsense NanC...don't BS me!
    +1
    I just thought about this; maybe Dems should have not tried to discredit Jack
    Welch because it seems their protests have led to a Eastwooding effect. Clint
    never would have has such a long lasting effect, if the Dems hadn't protested
    too much and called him a doddering old fool.... Same may be true with Jack Welch!

    So thank you Democrats, you shot yourself in the foot again. LOL
    laughing cat
  • mac9 2012/10/11 16:44:21
    Jack was right all along
    mac9
    +2
    The numbers don't wash. It is all political.
  • Amasaman 2012/10/11 16:41:36
    Undecided
    Amasaman
    +1
    Which state?
  • Space I... Amasaman 2012/10/11 17:12:21
    Space Invader
    +1
    they won't tell..Washington Post called; and the Labor Board said they "don't know"...
    I guess it was a spontaneous act!!
  • Golden ... Amasaman 2012/10/11 17:28:16
    Golden Panther
    +1
    California...no need for proof I admit it.
  • snipe 2012/10/11 16:12:25
    Jack was right all along
    snipe
    +2
    We'll have another unemployment figure come out before the election and I predict a 7.5% figure. Remember you saw it here first!

    The CBO confirmed we've had four straight years of $trillion, or higher, deficits and $5 trillion in borrowing. Under obama our GDP has gone from 70% to over 100%. Hello obama 2nd term, goodbye America!!
  • Golden Panther 2012/10/11 15:54:45
    Jack was right all along
    Golden Panther
    +2
    How we source the state that did not report...could be significant if it were California, New York, Pennsylvania, or Texas.
  • The Patriot 2012/10/11 14:40:38
  • jerry 2012/10/11 14:30:52
    Even a blind lib can't explain this away
    jerry
    +6
    Just like Libya "video"....Obathamatics is going to blow up in their faces... obama math obama math obama math
  • James 2012/10/11 14:27:54
    Jack was right all along
    James
    +3
    What does that dumbass Goolesbe have to say now?
  • bmxschoolbus 2012/10/11 14:16:47
    Jack is still wrong
    bmxschoolbus
    +1
    Yes it has gone down a little but that is only because some people have acquired seasonal jobs with Christmas right around the corner and there are many people who have exhausted their benefits that are not calculated into the numbers
  • kmay 2012/10/11 14:13:38
    Jack was right all along
    kmay
    +5
    Only the stupid will vote for Obo!
  • Old Timer 2012/10/11 14:06:51
    None of the above
    Old Timer
    +2
    What state, and what would the final figures have been? Still over 8%?
  • All American 2012/10/11 13:50:57
    Even a blind lib can't explain this away
    All American
    +5
    Seems like they are employing that fuzzy math they accused Bush of using.
  • James All Ame... 2012/10/11 14:25:52
    James
    Good point but in all fairness, Bush used that term during his debates with Gore in 2000 and swept the floor with him with terms like that. Unfortunately, he became a victim of his own success as he too tried to fudge the numbers with certain things.
  • All Ame... James 2012/10/11 14:29:01
    All American
    I didn't know that, I do recall the left accusing him of that when he tried to shore up social security.
  • James All Ame... 2012/10/11 14:56:40
    James
    It wasn't Social Security per se. That was just an easy trick the libs would use to politicize against him. The REAL issue that the sheeple weren't aware of was all of the "off-the-books" accounting that was done during his time in office. It's a trick he learned while he befriended the likes of Kenneth Lay and the rest of the Enron executive team.
  • All Ame... James 2012/10/11 15:54:40
    All American
    +1
    I'm sure they all do things sub rosa, both sides of the aisle.
  • James All Ame... 2012/10/12 14:09:28
    James
    sub rosa?
  • All Ame... James 2012/10/12 14:22:36
    All American
    +1
    The Latin phrase sub rosa means "under the rose" and is used in English to denote secrecy or confidentiality, similar to the Chatham House Rule. The rose as a symbol of secrecy has an ancient history.

    http://en.wikipedia.org/wiki/...
  • James All Ame... 2012/10/14 17:56:20
    James
    +1
    Sorry, that's the first time I ever heard that term before.
  • All Ame... James 2012/10/14 19:49:08
    All American
    +1
    We all learn something new from this site. That's what it's all about.
  • Gravitas 2012/10/11 13:49:12
    Jack was right all along
    Gravitas
    +5
    Even Ray Charles can see this is BS and yes,... I know he's dead too.

    Nothing more than the ongoing campaign of LIES that have been streaming from Barry Soetoro and his cabal of domestic terrorists ever since that fateful day of Jan. 30, 2009.

    They will do anything, say anything, and stall any type of inquiries into their lies, including, allowing Hillary Clinton or Susan Rice to answer questions about Libya, before Congress.

    Liberals,..... you have 25 days to pull your heads out of your A-holes and regain some sort of respect.
  • jerry Gravitas 2012/10/11 14:29:15
    jerry
    +2
    independents are starting too see through this "accounting"
  • John Hall 2012/10/11 13:48:48
    Jack was right all along
    John Hall
    +6
    The Obama administration will do what it takes to make Obama look good in this election .
  • robert.goldsmith.14 2012/10/11 13:47:08 (edited)
  • wtw 2012/10/11 13:41:21
    Jack was right all along
    wtw
    +3
    Jac Welch is correct!
  • Mr. T 2012/10/11 13:37:22
    Even a blind lib can't explain this away
    Mr. T
    +4
    Oops....just a computer glitch, we were going to correct this right after the election, we promise.
  • tommyg - POTL- PWCM-JLA 2012/10/11 13:35:22
    Jack was right all along
    tommyg - POTL- PWCM-JLA
    +5
    It's funny, when I ask some of my liberal friends to explain the 7.8% I get nothing but "crickets"...or Romney is a liar.

    0 details.
  • mrdog 2012/10/11 13:29:03
    Jack was right all along
    mrdog
    +6
    Voters are not naive in 12....only 08 was enough for us...bark
  • James mrdog 2012/10/11 14:26:47
    James
    +1
    Trust me....the voters are STILL naive....
  • mrdog James 2012/10/11 14:46:34
    mrdog
    +1
    Maybe but FED up..... and that is a pun...bark
  • James mrdog 2012/10/11 14:57:45
    James
    +1
    Only the awoken are fed up.....the rest are lemmings waiting to run off the cliff at their master's command.
  • mrdog James 2012/10/11 15:08:09
    mrdog
    +1
    themala and louise? bark
  • James mrdog 2012/10/11 15:12:23
    James
    lol....nice....

    We still have plenty of lemmings running around thinking there is an actual difference between Obama and Romney that go further than the surface....
  • mrdog James 2012/10/11 16:40:10
    mrdog
    +1
    And there is....bark

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