Thursday, August 5, 2010
Initial claims gives the bears something to shoot at
Initial claims jump to 479,000--the highest since April.
Just wait until all the people on the super duper extended unemployment claims get counted.
Meanwhile 40.8 million in May are on food stamps--which has set records for 18 straight months--and according to White House projections, that number is supposed to go to 43.3 million in 2011. At the same time, the administration says we will have an 8% unemployment rate.
Sure baby. And Tim Geithner can write all his recovery op-eds in the New York Times too.
But don't worry--Ben Bernanke said that rising wages will help spur household spending!
Posted by Palmoni at 9:05 AM