Expect the Dow Jones to go 200+ points in the green today, as released DOL figures show initial claims have skyrocketed and not-adjusted claims have gone to infinity and beyond:

So much for that amazing beat in the last 2010 number in initial claims, which is now proven to have been purely a figment of the BLS’ imagination and a whole load of guesstimations. Today’s initial claims number throws cold water to all those who expected the trend in claims to be improving. At 445K, this was a huge miss to expectations of 410K, and a major deterioration from last week’s (upwardly revised of course) 410K (was 409K before). Elsewhere, continuing claims came at 3,879K on expectations of 4,088K (with the previous naturally revised higher as well from 4,103K to 4,127K). And the kicker: in NSA terms initial claims were a mammoth 770,413, a 191,686 increase in just one week, and the highest NSA number in one year! The result: the spread between SA (3.1%) and NSA (3.8%) unemployment rate jumps to year highs. Of course, the BLS blames the huge disappointment on “paperwork delays”, yet blamed nobody for the amazing beats in the end of 2010 which brought the market to a complete frenzy.

Lastly, completing the trifecta of bad data, those on various forms of extended claims jumped by 130K, confirming that we are nowhere close to dealing with the “99 week completion” cliff issue, as ever more people roll off continuing claims.

What a devastatingly bad report. Fortunately, the market is so disengaged from reality that as of 2pm this afternoon, the Dow is only in the red by 25 points.

Keep these numbers in mind later on this week when you hear some jackass politician or some financial cretin blathering on about how the American economy has turned the corner. There is never any mention how the market is bloated from QE cash, or how there can be a recovery when the workforce has shrunk and unemployment has skyrocketed, or how the housing sector is worse off right now than at any time in American history; including the depression era days.

Circle the wagons, prepare. Things are getting worse every day. That’s the truth, it’s unfortunate, but it’s the truth. The lies the gov’t and the financial sector are telling us are mammoth. They know there is no recovery, they know things are going from bad to worse. All they are doing right now is stealing the final few table scraps they can get their hands on.

The writing is on the wall, it’s up to you to heed the warnings.

Remember – beans, bullets and band-aids.

This entry was posted on Thursday, January 13th, 2011 at 3:26 pm and is filed under Barack Hussein Obama (PBUH), Green Shoots, economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.