New Jobless Claims Jump to 26-Year High- AP

[Neubarth]

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.

 

[Neubarth]

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.

 

[Frolicking Dino]

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.

 

[Paulie]

We don't "need" people to spend.

 

[cunclusion]

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.

 

[sealybobo]

And I heard the last xmas that was this bad was during Nixon's presidency. Didn't Chaney and Rumsfeld work for him too?

 

[Neubarth]

And I heard the last xmas that was this bad was during Nixon's presidency. Didn't Chaney and Rumsfeld work for him too?

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.

 

[Neubarth]

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."

 

[editec]

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.

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.

 

[indago]

What you hear them talking about before they are elected is not what you always get once they have been sworn in.

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

 

[Zoomie1980]

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.

The REAL story here is just how deep and harsh that 1982-83 recession really was. IT means that jobless claims in 1982 were even HIGHER than today back when our population was 25% less and the total number of people working then was almost 30% less than today.

To truely equal jobless claims from that really tough recession, we will have to see about 750,000-800,000.

We really have become a nation of whiners....we could no longer survive a depression like our grand parents and great-grandparents did....sad really. WHIMPS, and pussies, the whole damned nation....

 

[Zoomie1980]

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.

We're not even close, numbnut. We haven;t even hit 7% unemployment. Unemployment in early 1983 was at 12%. 30% at the height of the depression.

Idiot.

We're just spineless, spoiled whimps that can't take ANY national pain....NONE. We lost more troops in ONE AFTERNOON on Iwo Jima and Normandy that we lost in the ENTIRE IRAQ WAR!!!!!! And you'd think we've bled the nation in that....

Candy-assed whining little WHIMP is all you are.

 

[Paulie]

We're not even close, numbnut. We haven;t even hit 7% unemployment. Unemployment in early 1983 was at 12%. 30% at the height of the depression.

Idiot.

We're just spineless, spoiled whimps that can't take ANY national pain....NONE. We lost more troops in ONE AFTERNOON on Iwo Jima and Normandy that we lost in the ENTIRE IRAQ WAR!!!!!! And you'd think we've bled the nation in that....

Candy-assed whining little WHIMP is all you are.

I really do tend to agree, although 7% is a skewed number. In the depression, there weren't the different U reports that there are now. It's all so complex and comprehensive now.

What's today's U-6 compared to the rate during the height of the depression?

 

[mash107]

12.5%

Real Time Economics : Broader Unemployment Rate Hits 12.5%

Not to mention, underemployed folks, etc.

All because of a government gone made with spending and regulations. :x