Comments for "Unemployment Insurance: More Weakness"
kahni says:
Well, this is still better than the ADP report. It is amazing to me that the ADP forecast of the BLS results is so bad. I thought they constantly performed corrections to the measure to make it more accurate?
kahni Thu Apr 2 07:44:41 2009 CDT #
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CRbot Thu Apr 2 07:44:49 2009 CDT #
Counterpointer says:
Hey, it gets all spiky at the right end. Graphs going up is good in economics, right?
C
Counterpointer Thu Apr 2 07:47:21 2009 CDT #
Max says:
It's not squirrel, but it's damn close:
To urban hunter, next meal is scampering by
Detroit retiree, 69, supplements his income by living off the land
Detroit - When selecting the best raccoon carcass for the special holiday roast, both the connoisseur and the curious should remember this simple guideline: Look for the paw.
"The paw is old school," says Glemie Dean Beasley, a Detroit raccoon hunter and meat salesman. "It lets the customers know it's not a cat or dog."
Beasley, a 69-year-old retired truck driver who modestly refers to himself as the Coon Man, supplements his Social Security check with the sale of raccoon carcasses that go for as much $12 and can serve up to four. The pelts, too, are good for coats and hats and fetch up to $10 a hide.
Max Thu Apr 2 07:48:19 2009 CDT #
CRbot says:
The Latest from Denninger:
The Scamming Continues (AIG, Fan/Fred, PPIP, etc)
CRbot Thu Apr 2 07:49:00 2009 CDT #
ac says:
Detroit retiree, 69, supplements his income by living off the land
Everybody should grow a garden.
ac Thu Apr 2 07:54:31 2009 CDT #
Anonymous says:
ANOTHER REASON NOT TO TRUST BANKS
"The hopes of the FASB mark-to-market snafu this week are in our view 'crazy' -- we still know the 'stuff' is on the balance sheets and if the financials are actually allowed to adjust capital based on unreal marks then who will ever buy financials again - how can you trust them?" asked Tim Backshall, chief strategist at Credit Derivatives Research, in a recent research note. "And what is the point of (the Public Private Investment Plan) if that is the case?"
http://www.reuters.com/article/bondsNews/idUSN0232685620090402?pageNumber=2&virtualBrandChannel=10452
Pretty much the way I see it, this little banana republic is a sell across the board.
Anonymous Thu Apr 2 07:56:47 2009 CDT #
CRbot says:
The Latest from Ritholz:
WSJ.com Down?
CRbot Thu Apr 2 07:58:47 2009 CDT #
Virgil says:
So how many points on the Dow is this worth? Dow 8,000?
Virgil Thu Apr 2 07:59:44 2009 CDT #
Broad Spectrum says:
OT: watching Bloomberg - FASB voted to relax rules.
Broad Spectrum Thu Apr 2 07:59:45 2009 CDT #
CRbot says:
The Latest from Ritholz:
2000-03 Bear Market Rallies
CRbot Thu Apr 2 08:00:16 2009 CDT #
MrM says:
The expectation for U-3 unemployment tomorrow is 8.5%
Way above "the more adverse" stress test for Q1-2009
"More adverse" is "more optimistic" now
(and War is Peace, Ignorance is Knowledge)
MrM Thu Apr 2 08:00:44 2009 CDT #
CRbot says:
New Thread: Monster Employment Index Declines in March
http://www.calculatedriskblog.com/2009/04/monster-employment-index-declines-in.html ( 1 comments )
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CRbot Thu Apr 2 08:01:49 2009 CDT #
Black Star Ranch says:
"It is amazing to me that the ADP forecast of the BLS results is so bad."
ADP doesn't know what the BLS is going to "imaginate".
Black Star Ranch Thu Apr 2 08:01:54 2009 CDT #
Morocco Bama says:
GMAC has a plan to set up satellite offices at all state unemployment offices order to more effectively solicit subprime borrowers. It's one stop shopping. Enroll for unemployment and get a GM. Don't worry about the payments. The taxes of all those Honda owners will cover you. Oh, you want a mortgage, too, you say. No problem....special orders don't upset us, all we ask is that you lettuce.......
Not only will we cover your mortgage, but if you buy a home now, we'll give you $8,000 cash back in the form of a tax credit, all thanks to the generosity of renters and responsible homeowners.
There's never been a better time to be subprime. There's never been a better time to be unemployed. Like spaghetti, money grows on trees.....for certain people. Get subprime today, and get in the game.
Morocco Bama Thu Apr 2 08:03:35 2009 CDT #
MrM says:
OT: watching Bloomberg - FASB voted to relax rules
FASB Eases Fair-Value Accounting Rules Amid Lawmaker Pressure
2009-04-02 12:45:47.919 GMT
By Ian Katz
April 2 (Bloomberg) -- The Financial Accounting Standards Board, pressured by U.S. lawmakers and financial companies, voted to relax fair-value rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive.
The changes approved today to fair-value, also known as mark-to-market, allow companies to use “significant” judgment in valuing assets to reduce writedowns on certain investments, including mortgage-backed securities. Accounting analysts say the measure, which can be applied to first-quarter results, may boost banks’ net income by 20 percent or more.
MrM Thu Apr 2 08:07:00 2009 CDT #
RobertoW says:
This is a scary trend. But doesn't it make more sense to consider unemployment claim numbers relative to the work force? Obviously the work force (like the total population) is a lot larger now than in the mid-70's and early-80's.
RobertoW Thu Apr 2 12:07:11 2009 CDT #
Brian says:
Could someone tell me why the unemployment rate doesn't go up by the intial claims amount each week? I mean if 600,000 people file for initial unemployment each week, then doesn't that mean that we should expect 2.4 million in 4 weeks time.
I guess some folks get another job but surely not that quickly.
Thanks,
Brian
Brian Thu Apr 2 12:10:07 2009 CDT #
END