Posts Tagged ‘Bernanke’

Initial Claims for Unemployment…

March 29, 2012

I have not written about the Unemployment rate since February 2nd, I’ve been pretty busy.  I think everyone should know where I stand on the Government Propaganda.  IF there is any confusion please read the previous posts concerning unemployment.  This time I am just going to give a brief summary of what has happened since the last time.

The references are from FoxNews and CNBC:

March 29th:

“The number of people seeking U.S. unemployment benefits dropped last week, the latest evidence that the job market is strengthening.  The Labor Department says weekly unemployment benefit applications fell 5,000 to a seasonally adjusted 359,000. That’s the smallest number of applicants since April 2008.

The smallest since April 2008???  What about LAST WEEK’s number??  They said it was 348,000!!!  But they adjusted it upward to 364,000 this week!!!

“The department also made its annual revisions to the past five years of unemployment benefit data. The revisions significantly increased the number of unemployment benefit applicants in recent months.”

More government massaging!!!  So, they were able to lie about report LOWER numbers than actually occurred in the REAL WORLD and are now “adjusting” all those LOWER estimates in one week!!!  Those “adjustments” SIGNIFICANTLY INCREASE the number of applicants in recent months.  You know…..that time when EVERYONE was “reporting” that things were IMPROVING!!!

and the last quote is PRICELESS:

“More than 12.8 million people remain unemployed and the economy still has 5 million fewer jobs than before the downturn.”

Read that again.  5 MILLION FEWER JOBS available!!!  And that does not say anything about how many NEW ENTRANTS there are to the job pool.  You know…..all those people that have just turned 18 or have graduated from college in the last 3 years and now WANT A JOB!!!

March 22nd:

“Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 348,000, the lowest level since February 2008, the Labor Department said.  The prior week’s figure was revised up to 353,000 from the previously reported 351,000.”

March 15th:

“The number of Americans who filed requests for jobless benefits fell by 14,000 last week to 351,000, matching a four-year low, the U.S. Labor Department said Thursday. Claims from two weeks ago were revised up to 365,000 from 362,000.

March 8th:

“Jobless claims in the U.S. rose to the highest level in five weeks, climbing by 8,000 to a seasonally adjusted 362,000, the Labor Department said Thursday. Claims from two weeks ago were revised up to 354,000 from 351,000.”

March 1st:

“Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 351,000, the Labor Department said. The prior week’s figure was revised up to 353,000 from the previously reported 351,000.”

February 23rd:

“Jobless claims in the U.S. were unchanged last week at a seasonally adjusted 351,000, the Labor Department said Thursday.   Claims from two weeks ago were revised up to 351,000 from 348,000.”

February 16th:

“Weekly jobless claims in the U.S. fell by 13,000 to a seasonally adjusted 348,000 in the week ended Feb. 11, the Labor Department said Thursday. That’s the lowest level since March 2008, when the U.S. was in the early stages of a recession.  Claims from two weeks ago were revised up to 361,000 from 358,000.”

February 9th:

“On the economic front, weekly jobless claims declined 15,000 to a seasonally adjusted 358,000, according to the Labor Department, hitting the second-lowest level in almost four years.”

358,000 + 15,000 = 373,000 which is an 8,000 upwardly revised number from the previous week of an initially reported 367,000!!

How many times can the news outlets claim that this weeks number is the LOWEST since whenever, before the public says “but this is HIGHER THAN LAST WEEK”??  At least twice in the last month they have said that 348,000 is the lowest since 2008!!!  I call BS!!!  You do NOT get to lie claim, INCORRECTLY, that this weeks number, which WILL BE REVISED HIGHER NEXT WEEK, is the lowest in 4 years, and THEN DO IT AGAIN LATER AFTER YOU “ADJUST” THE NUMBER TO REALITY!!!

So to summarize we have had 8 + 3 + 3 + 2 + 3 + 3 + 2 + 14 = 37,000 initial claims “ADJUSTMENTS” in almost 2 months.  NOT including the adjustments that were made this week, which SIGNIFICANTLY INCREASED the number of applicants in the last few months!!!  Still we do NOT have a single month where the “revision” is “downward”, which means that the government propagandists, that call themselves statisticians, ALWAYS underestimate the initial claims in order for it to appear that the jobs picture is improving.  Do NOT forget that we still have 5 MILLION fewer jobs, and this, AFTER WE HAVE “STIMULATED” with TRILLIONS of worthless dollars!!!  Thanks Mr. Obama, Mr. Bernanke, Mr. Geithner, great work!!! (sarcasm off)

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The LOOTING of America….

April 12, 2011

If ANYONE still believes that the United States Government is the correct size, or god forbid, too small, they need to read this article from Rolling Stone

This, from the “most transparent” administration in history.  Sorry, I almost threw up!!!

This has GOT TO STOP!!!

Pass it around, tell your Representatives how you feel.

President Obama is a GENIUS…

July 31, 2009

CLANK, CLANK, CLANK…..
Please make sure your lap bar and seat belts are securely fastened and please keep your hands inside the car for the entire ride…..
CLANK, CLANK, CLANK…..

That is the sound of the roller coaster that we are now on.  DO NOT worry about the budget deficit or any of the “money” that the USA currently owes, President Obama and friends are going to make it so SMALL that we will have no trouble paying it off.

I know, I know, all you hear about is how large the National Debt is getting.  I mean, $1 TRILLION dollars SOUNDS like a lot of “money”.  But, is it really??  In 1960, $1 million dollars was a lot of money.  Heck, in 1990 $1 million dollars was still large.  In 2000, I would argue that billion became the new million.  Even Forbes listing of the richest people no longer includes multi-millionaires.  Soon, trillion will be the new million.

With spending (National Health Care, Energy Cap and Trade, Stimulus I, Stimulus II, etc.) that President Obama, the Democratic Congress and the Democratic Senate are trying to FORCE upon the American public, the deficit is getting out of control.  Bernanke says that He can remove the excess “money”, that He has been printing 24/7 as fast as the printers will run for the past 8 months, from the system AS SOON AS it is needed in order to ELIMINATE the threat of INFLATION.  For the moment, let’s assume that He CAN do this.  Does He believe that EVERY central banker in the world CAN do the same thing.  At this point almost every country in the world is flooding the system with currency. (at least $800 BILLION from the USA, at least $500 BILLION from China, at least $70 BILLION from England, at least $370 BILLION from the European Union, at least $80 BILLION from Russia, at least $154 BILLION from Japan, at least $47 BILLION from Canada, etc.).

In my opinion, we are heading for a dose of inflation, that may even turn into HYPERINFLATION.  This is the type of inflation that means you add a ZERO to anything that deals with money, basically overnight.  That $3 gallon of milk now costs $30, that $40 dollar tank of gas now costs$400, that $6 lunch at McD’s now costs $60….you get the picture.  When this happens, our National Debt will NOT go up as fast.  See how SMALL it is getting?

Do not worry about what will happen to you when your wages/salary do not increase as fast as inflation, the government will take care of you.

Remember when President Obama lied said that He would NOT raise taxes for anyone making less than $250,000.  He is almost correct.  First, he is going to raise taxes, and then…….wait for it………..you will be making MORE than $250,000.  How is that going to happen?  Remember when I said you add a ZERO to anything that deals with money?  If you are making $25,000/year now, soon that will be the same as making $250,000/year.  See how SMALL the National Debt is getting?

Here is the best part.  Right now, the top 10% of earners pay 71% of the federal income tax collected, and 32% do not pay ANY federal income tax.  After we add a zero to everyone’s pay, the bottom 32% will START to pay taxes (FINALLY), because the tax code is NOT adjusted for inflation.  See how SMALL the National Debt is getting?

But, do NOT worry what is going to happen to you during the transition.  It might get a little bumpy for YOU personally, but the National Debt is getting so SMALL!!! 

President Obama and friends are GENIUSES!!!

CLANK, CLANK, CLANK…..enjoy the ride!!!!