I was thinking the same thing, when I turned the tube on and seen the miss. Now if it was just 100 under there wild ass guess, the fireworks would be going off and everything is fine.... Gezzzzzzzzzzz This MSM bullchit is getting old.
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Submitted by Tyler Durden on 05/17/2012 08:35 -0400
Reality
Unemployment
While claims were expected to improve from last week's pre-revision print of 367K, we got not only a miss but a deterioration, with the print coming at 370K on expectations of 365K. But all is well, for the media already has its spin: "Unchanged", because you see last week's number was as usual pushed up higher to 370K, hence no change. Of course, next week this week's 370K will be revised to 374K or something, but the algos will be long past caring. What is worse is that the exodus from the cliff continues, as those off EUCs and Extended benefits declined by another 68K (and down by 1.14 million from this time last year): people who no longer get their weekly allowance from Uncle Sam and having been without a job for 99 weeks are pretty much guaranteed to not find a job, thus making them rely exclusively on disability and foodstamps.
Initial Claims are stabilizing around 20% higher than pre-crisis levels - not exactly positive...
http://www.zerohedge.com/news/initial-claims-miss-media-spin-unchanged?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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