California jobless rate climbs to 12.6% in March. But you can be perkipantied if you want to be.
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U.S. gains jobs. No, wait, it’s losing… Yah de blah de de blah woof woof. ADP counts real jobs. Labor Dept counts temporary census jobs (what happens when the census is over?) and adjusts for the imaginary birth-death model. Perkipantied economists & crystal ball types say real job growth (hundreds of thousands of jobs!) [...] B of A says its Lehman-Style bogus balance sheet manipulation is a-okay Daimler charged under US bribery laws David Einhorn slams SEC, Says its culture of “lawlessness” that allowed Allied Capital’s fraud cannot continue Sneak and creep back to No-Docs? Top Analyst: “Developed market governments are insolvent by any reasonable definition” [...] Georgia Republicans believe the cause of unemployment is drugs, propose random drug testing as condition for receiving unemployment benefits. Ignoring that it was unbridled free marketeering and deregulation, and a host of other policies favored by the ruling class (of which they are members) that caused a dearth of jobs. Do you think I’m making [...] Imperial County: Decrease in unemployment rate likely due to hiring seasonal agricultural workers. Consider what will happen to the rate when they are laid off at the end of the cool crop season. Heard in the trenches: Several CPA firms in Orange County plan to furlough staff to a 40% work week after April, if [...] 10 spicy bits of economic news: 1. Jobless claims rise unexpectedly. The number of Americans filing first-time claims for unemployment insurance climbed unexpectedly last week. There were 473,000 initial jobless claims filed in the week ended Feb. 13, up 31,000 from the previous week’s upwardly revised 442,000, the Labor Department said on Thursday. A [...] What ‘green shoots’ look like. Via Infectious Greed We’ve “stopped falling off a cliff.” Oh, sure, sure. Now we’re bouncing down the scree: Housing starts unexpectedly slid 13 percent to an annual rate of 458,000, led by a 46 percent tumble in multifamily starts, which tend to be more volatile, Commerce Department figures showed [...] Clusterstock has thoughtfully assembled a list of the most bearish financial pundits, but really, they’re all a bunch of perkypants compared to Jim Kuntsler, except for Dimitry Orlov, who also basically predicts we’ll be living in caves and grubbing for worms as penance for our excess while society collapses around us. Such prognostications apparently [...] Lawrence Summers: Positive economic news few months away (Sue has dubbed me Mr. Perkypants for my misguided optimism about the economy while she’s ok with her new moniker, Mrs. GloomyDoom) Spongebob Perkypants (Note: Sue has dubbed me Mr. Perkypants over my optimism that the current financial crisis will lessen by 2010 – Bob) New trend … ghost ships. Housing keeps going down and is not anywhere near the bottom. Geithner plan will work only if the economy is hysterical and “what it really needs [...] |  | ||||
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