The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on January 14, 2021, 03:53:38 pm
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New Jobless Claims Spike To 965,000, Economists Expected 800,000
Thomas Catenacci
Reporter
January 14, 2021 8:58 AM ET
The number of Americans filing new unemployment claims increased to 965,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics (BLS) figure released Thursday represented a increase in the number of new jobless claims compared to the week ending Jan. 9, in which there were 787,000 new jobless claims reported. Roughly 18.4 million Americans continue to collect unemployment benefits, according to the BLS report Thursday.
Economists expected Thursday’s jobless claims number to come in around 800,000, The Wall Street Journal reported. New jobless claims fell below 1 million in the first week of August, which was the first time the weekly claims had fallen below 1 million since March.
“It’s not a pretty picture,†Beth Ann Bovino, U.S. chief economist for S&P Global Ratings, told The WSJ. “We’re stuck at a level that’s four times where it should be.â€
more
https://dailycaller.com/2021/01/14/new-jobless-claims-spike-above-expectations/
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A lot behind these numbers is preplanning by business knowing that their future will soom be filled with more taxation, regulations, wage guidelines, and other bureacratic garbage that will be hurting their bottom line.
2 years from now, they'll be begging for Trump.
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Of course when the economy start to spiral downward out of control because Sloe Joe plans on shutting us down because of the evil virus and new strains continually being found and doesn't have a clue on the economy, he'll always have Trump to blame....the media will spin that.
No worries .... Sloe Joe will keep printing more money...where that stops no one knows.
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Shall we place our bets? Unemployment rate of 10%, 15% ... how soon?
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Shall we place our bets? Unemployment rate of 10%, 15% ... how soon?
I think we will see double digit inflation as well. Welcome to Carter 2.0 and Obama 2.0 -- what could possibly go wrong?
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I see/feel double digit inflation now...govt. CPI misses a lot of inflation:
https://chapwoodindex.com
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I see/feel double digit inflation now
Agreed. Anyone remember the Carter years?
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Agreed. Anyone remember the Carter years?
Oh yes. Back in those days, you didn't need "use by" or "expiration" date on food. You knew which was older by the price.
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Not Trump's problem anymore. Have fun, Joe.
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Not Trump's problem anymore. Have fun, Joe.
Not Trump's problem but you can be damn sure that the dems will be laying it all at Trumps feet..............................because Orange Man is the new Satan and Bogeyman all rolled in to one with no platform left to for him to speak truth and rebuttal.
I ahven't been able to work for close to a decade so I'm not so affected, but my concern is great for my children and their spouses. My wife will probably have increased income because she is a medical biller whose clients are Psychologists and MFT's and their business will be booming with all the stress and pressure ahead.
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Not Trump's problem anymore. Have fun, Joe.
This jobless claims report is still on DJT’s watch.
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Agreed. Anyone remember the Carter years?
(https://cdn-images-1.medium.com/max/1600/1*5h5L71bMJ6782UpBVQcccg.jpeg)
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(https://cdn-images-1.medium.com/max/1600/1*5h5L71bMJ6782UpBVQcccg.jpeg)
Too, too damn well! I remeber having to stand in a block long gas line with a gas can because I had run out of gas, and don't think a SOB didn't try to roll over me to take my place.
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I think we will see double digit inflation as well. Welcome to Carter 2.0 and Obama 2.0 -- what could possibly go wrong?
Not officially. There's no way that inflation can be allowed to go officially that high. Your food may double in price but the official inflation numbers will not show it. That has already happened over the last 6 years or so.
The fed has put itself in an impossible position. The 20+ trillion dollar national debt would take, in time, 2+ trillion dollars a year to service. That can't be allowed to happen so it will continue with the smoke and mirrors until it can't be contained - and then it will go catastrophic.
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Agreed. Anyone remember the Carter years?
(https://cdn.shopify.com/s/files/1/0179/9731/files/Q5r7p7TlLbISDwlHGJekQApgHYJphMtelbcmIeeUqQ4_large.jpg?v=1588694457)
Let the good times roll....again.
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Not officially. There's no way that inflation can be allowed to go officially that high. Your food may double in price but the official inflation numbers will not show it. That has already happened over the last 6 years or so.
The fed has put itself in an impossible position. The 20+ trillion dollar national debt would take, in time, 2+ trillion dollars a year to service. That can't be allowed to happen so it will continue with the smoke and mirrors until it can't be contained - and then it will go catastrophic.
The Fed has got to put it's foot down and stop issuing new money. Force the government to live within its means. If the government feels compelled to borrow $2 trillion dollars a year, then they should have to compete on an open market for those dollars, perhaps offering interest rates of 25% or more.
One rule of macroeconomics is that interest rates will always be higher than the rate of inflation. But that rule has been flipped ever since 2009 when the Fed decided to begin funding government excess with the-printing-of-the-money. We are now entering the Weimar Republic, except instead of French troops occupying the Ruhr, we have are being occupied by a Congress and Deep State who are holding the people hostage.
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mountaineer wrote:
"Shall we place our bets? Unemployment rate of 10%, 15% ... how soon?"
It will be of no importance.
Those who continue to work will be paid at least $15 per hour (the new minimum wage).
Those who don't have jobs or who refuse to work will be paid the new "guaranteed minimum annual income".
And that doesn't include "reparations payments" to a certain ethnicity...
(Can you not see this coming...?)
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mountaineer wrote:
"Shall we place our bets? Unemployment rate of 10%, 15% ... how soon?"
It will be of no importance.
Those who continue to work will be paid at least $15 per hour (the new minimum wage).
Those who don't have jobs or who refuse to work will be paid the new "guaranteed minimum annual income".
And that doesn't include "reparations payments" to a certain ethnicity...
(Can you not see this coming...?)
(https://i.imgur.com/zhZt378.gif) Silly Rabbit!
Haven't you heard the chatter?
They have already started talking about reparising the Native Americans
And they have obviously already been reparising the Hispanics for decades.
And who do they blame for all the evil done to all these poor folk of color?
Why those of the anti color.......... Whites, unless you are a socalist democrat woke apologist.