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View Diary: First-time claims for unemployment benefits rises steeply after steeply dropping last week. (23 comments)

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  •  Noisy weekly UI claim nos...meanwhile... (4+ / 0-)
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    freesia, Jim P, tapu dali, denise b

    ...our focus upon these metrics belies far too many greater, inconvenient truths...and, don't look too closely at the quality of the actual jobs being created! Generally speaking, they're quite low-paying, and supplanting better paying jobs for many. The new normal: a natural rate of unemployment/employment in the 7% range. (But, MB, you know all of this.)

    Same thing holds for the monthly, BLS employment situation reports.

    "Housing's recovering..." ...more specifically, in metro areas .(i.e.: Florida, Arizona, California) where PE firms like Blackstone, and other Wall Street firms, see the biggest potential for speculative/potential margin opp's. The story that's not being told here is if it wasn't for Wall Street capturing their tithe--coming and going--there would be no (faux) housing "recovery," at all

    And, income inequality, like housing, and joblessness, worsens (despite the false narrative to the contrary).

    The rentier class, supported more by taxpayers with every passing day, amasses profits by leaps and bounds; serfdom flourishes; the rich get much richer. The unwashed masses suffer more and more...but, don't look too close.

    These ARE facts,propaganda meme to the contrary.

    This is Poli-Sci 101, writ large.

    It doesn't have to be this way...but it is...and it's getting far worse.

    As you say: "...the glass is broken."

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Thu Jan 31, 2013 at 09:44:28 AM PST

    •  Meanwhile, qtrly GDP nos... (2+ / 0-)
      Recommended by:
      Jim P, denise b

      ...which are just as bad--if not far worse--of an indication of what's actually occurring in our society, just moved into negative territory for the first time (off the top of my head) since 2009?!

      This myopic obsession with stats belies greater truths...such as the "touting-of-the-stock-market" meme, which has now taken hold of the MSM's economic narrative.

      We're just about where we were in the DOW in December 2007...oh, wait!

      And, don't talk about the fact that the top 10% (give or take), own somewhere in the neighborhood of 90%+ of all the marketable securities in this country!

      I really stand in awe of politicians and and folks spinning this irrationally exuberant market crap, in general when, in fact, it's just an obscured reinforcement of trickle-down economic thought! ("The market's doing great! Isn't that awesome!?")

      "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

      by bobswern on Thu Jan 31, 2013 at 09:55:01 AM PST

      [ Parent ]

      •  I thought it was interesting (1+ / 0-)
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        One day consumer confidence dropped and all the commentators were scrambling to find an explanation for something so irrational. The next day they announced that the economy had contracted.

        We decided to move the center farther to the right by starting the whole debate from a far-right position to begin with. - Former House Majority Leader Tom DeLay

        by denise b on Thu Jan 31, 2013 at 01:01:18 PM PST

        [ Parent ]

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