Unexpected unemployment rise

Discussion in 'Current Events' started by saveliberty, Feb 18, 2010.

  1. saveliberty
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    saveliberty Diamond Member

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    U.S. jobless, price data fan concerns on economy - Yahoo! News

    WASHINGTON (Reuters) – The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economy's recovery.

    Initial claims for state jobless benefits increased 31,000 to 473,000, the Labor Department said on Thursday. Financial markets had expected them to fall slightly.

    Another report from the department showed prices paid at the farm and factory gate rose a faster-than-expected 1.4 percent from December as higher gasoline prices and unusually cold temperatures helped boost energy costs.

    The PPI report may fan worries about inflation pressures, which have largely been contained by excess capacity at factories and a weak labor market.

    "The bottom line is that the Fed is going to have some decisions to make at its next meeting, since it seems inflation is now back on the table," said Alan Lancz, president at Alan B. Lancz & Associates Inc in Toledo, Ohio

    Unemployment is always unexpected and cold is always unusual. Funny how that works. Inflation is the other shoe about to drop.
     
  2. saveliberty
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    saveliberty Diamond Member

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    Obama sets up deficit panel without help from Hill - Yahoo! News

    WASHINGTON – President Barack Obama signed an order Thursday unilaterally creating a bipartisan commission to rein in unruly deficits after Congress rejected a similar body with considerably more enforcement power.

    In making the announcement, Obama said that unless lawmakers put aside partisan differences, the continuing red-ink trend could "hobble our economy."

    The federal deficit hit a record $1.4 trillion last year and could grow larger this year as the struggling economy puts a big dent in tax collections.

    "It will cloud our future and it will saddle every child in America with an intolerable burden," he said before signing an executive order establishing the commission.

    First recommendation of the panel:

    Mr. President, grow a spine. By not signing budget bills with pork and excessive spending, Congress will be forced to change by your own hand.
     
  3. uscitizen
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    uscitizen Senior Member

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    Still clueless experts. It is always unexpected unemployment rise...month after month...
     
  4. TheSuaveOne
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    TheSuaveOne Man without a party

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    Wait, how can this be? The economy was fixed by the stimulas and the recession is over (or so I have heard over the last few days).

    -TSO
     
  5. saveliberty
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    saveliberty Diamond Member

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    In this case, they referenced that the financial markets found the rise unexpected. I suspect it was more than just htem, but it seems the general public is not surprised in the least.
     
  6. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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  7. PatekPhilippe
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    PatekPhilippe Senior Member

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    LOL...that's all we've been hearing. You'd think the dopes would have learned from Kerry. No matter how many times you say it's true...it just isn't.
     
  8. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Im pretty sure everything is a surprise to the MSM and the Obama regime.
    What will they do when the stimulus bubble pops?
     
  9. PatekPhilippe
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    PatekPhilippe Senior Member

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    Blame Bush and say they inherited the bursting bubble....:lol:
     
  10. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    The problem isnt partisanship here. Both parties are spending money like crazy. It's a bipartisan effort to destroy this country.
     

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