Dec 10 Jobless Claims - Things getting Worse and Worse

Initial jobless claims for week ending Dec 5 were 474,000. That is a huge number of people initially, that is for the first time, applying for help from the government. Most mainstream media is trying to spin this as a good thing that the four-week average is lower than before or that the 474,000 number has "decreased" compared to a year ago or other stupid stuff like that. Check this link for an example. This is ludicrous. It is meaningless to say this number is decreasing because that would be saying the second derivative of total joblessness is decreasing. That means joblessness is increasing at a decreasing rate. Guess what: JOBLESSNESS IS STILL INCREASING!!!!! And not at that slow a rate. There is not that much positive to be found in that. Obviously eventually it will increase at a slower rate. There are only a finite number of jobs on the world and you can't continue losing more and more jobs every week. The fact that we are still losing hundreds of thousands of jobs is a horrendous situation and a time bomb on the stock market. I am not saying the economy because the economy had no recovery whatsoever. Without jobs coming back, the stupid Wall Street bubble will end in tears again. It is unavoidable.

SOme people are trying to spin the fact that total claims have decreased. To those brainiacs I would like to point out that a lot of people's claims from the government have ran out despite the extensions to benefits. That is not a good thing and in good time it points to possible social unrest. Think before you look at the numbers and try to give it a positive spin mainstream media and CNBC especially. ALso, why on earth is Christina Romer always smiling like a pumpkin??? What's so amusing about people losing their jobs and economy being in shambles and the Fed and Treasury killing the dollar??? I don't see anything to smile about. This is the biggest circus I have ever seen.