New Jobless Claims Jump to 26-Year High- AP

Discussion in 'Economy' started by Neubarth, Dec 24, 2008.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    New Jobless Claims Jump to 26-Year High- AP
    The government says new claims for unemployment benefits increased more than expected last week as layoffs spread throughout the economy. The Labor Department says initial requests for jobless benefits rose to a seasonally adjusted 586,000 in the week ending Dec. 20, from an upwardly revised figure of 556,000 the previous week. That's much more than the 560,000 economists had expected.
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    As a loyal American, I don't want to sound Negative Negative Negatgive all the time.

    BUT, damn, this is not good.

    I was watching CNBC because I was burned out on watching Bloomberg, and the commentator, some kid (AT 61, they all look like kids to me now-a-days.) was trying to put a positive spin on the recent reports.

    There were two positives. More people were saving now as opposed to last year. (i.e. those people who still had jobs were able to put more money into their savings.) AND, durable good orders had only fallen 1 percent in the recent report as opposed to 8%.

    That savings thing can be looked at differently, since we need those with money to go out and buy buy buy to kick start the economy into gear.

    Tain't happenin'! I think P/E ratios are due to fall to the levels that we were used to in the 1950's to the 1980's. If so we have a long way down to fall in the stock market.
     
  3. Frolicking Dino
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    Frolicking Dino Loving tail, pointy teeth

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    I have serious fears that we are going into a full-on depression. Some of my older relatives - those who lived thru the last depression - are telling me that they see similarities between the pre-depression period and what is happening now in America.
     
  4. Paulie
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    Paulie Platinum Member

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    We don't "need" people to spend.
     
  5. cunclusion
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    cunclusion Member

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    People need to save that is the most important thing. Also if you have a little money look into getting some gold that you have at your house or in a deposit box.
     
  6. sealybobo
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    sealybobo Diamond Member

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    And I heard the last xmas that was this bad was during Nixon's presidency. Didn't Chaney and Rumsfeld work for him too?
     
  7. Neubarth
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    Neubarth At the Ballpark July 30th

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    Sealy, I find that comparisons that group Republicans with Republicans or Democrats with Democrats seldom have total reality. Fact remains that different men have different results once elected to the Oval Office.

    Our two most fiscally conservative presidents were both Democrats (Clinton and JFK) That does not in any way imply that other democrats will be fiscal conservatives.

    Our two most liberal spenders were Reagan and Dubya. That in no way implies that all Republicans will be liberal spenders.

    What you hear them talking about before they are elected is not what you always get once they have been sworn in.
     
  8. Neubarth
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    Neubarth At the Ballpark July 30th

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    The world is coming to an end.

    "Toyota reported Wednesday that global vehicles sales plunged 21.8 percent in November-- its biggest drop in eight years."
     
  9. editec
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    editec Mr. Forgot-it-All

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    We are already in a full on depression Fro.

    Much of the nation's population has been in a depression for the last two decades, but the Wall banking Street mavens were having such a grand time breaking capitalism, none of the ECONOMIST genuises noticed.

    And those people who did notice were dismissed as alarmists.

    What the hell did these mitwits expect?

    They broke the middle class a long time ago.
     
  10. indago
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    indago VIP Member

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    [ame=http://www.youtube.com/watch?v=CP9_kkzfN-w]READ MY LIPS[/ame]
     

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