Posts Tagged ‘unexpectedly’

‘Unexpected’ (Drink!!!): Jobless Claims Rise Sharply During Economic Wreckovery

January 13, 2012

It is just a fact that the mainstream media treat the exact same economic data dramatically differently when hated Republicans are in the White House versus their beloved Democrats:

I wrote an article on that back in 2009.  It is amazing that with the same economic numbers, the media can demonize the side they ideologically hate and excuse the side they ideologically worship.

A couple of cartoons to depict the overwhelming media bias we constantly see from the propaganda wing of the Democrat Party:

And:

And one of the biggest keys to this unrelenting media bias is revealed in the use of the media’s favorite adjective (“unexpected”) and/or their favorite adverb (“unexpectedly”) in excusing Obama for his economic mess.

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, hitting the highest level since late November, official data showed on Thursday. [44] The number of people filing first-time claims for unemployment insurance rose by 24,000 last week from the week before, the Employment and Training Administration reports. There were 399,000 such claims. [33]

“The retail sales and unemployment claims numbers remind us that the path to full recovery will be filled with lots of potholes,” said Joel Naroff, of Naroff Economic Advisors. [15] One-tenth of one percent increase in retail sales! “The gain was enough to push sales to a record level for 2011. It was the largest annual increase in more than a decade.” That’s not good news. (laughing) It’s 0.1%. Now, I think to put this in perspective, “The week’s unemployment applications with seasonal adjustments is disappointing. [23]

Retail sales climbed at the weakest pace in seven months in December and first-time claims for jobless benefits moved higher last week, signs the economic recovery remains shaky despite a pick-up in growth. [7] The number of people continuing to receive jobless benefits rose by 19,000 in the week ended Dec. 31 to 3.63 million. [14] Overall, 3,628,000 people were getting jobless benefits during the week ended Dec. 31, an increase of 19,000 from the preceding week, the department said. [43]

About 4.1 million unemployed Americans collect jobless benefits every week, down from about 4.8 million a year ago as the countrys sluggish economy, the worlds largest, has regained some strength. [8] Last year the economy added about 1.6 million jobs, a 50% increase from 2009. According to a survey by the AP, economists are expecting the economy to add 1.9 million jobs this year. [1] The economy gained 1.6 million jobs last year, up from 940,000 in 2010. Economists forecast roughly 1.9 million jobs will be added this year, according to a survey by The Associated Press. [38]

As the Los Angeles Times’ Don Lee reported last week, the economy still has 6 million fewer jobs than in December 2007, when the recession started and the jobless rate was 5%. At least one retailer is hiring now. [30] Even with the gains, much needs to be done toward recovering the 8.75 million jobs lost as a result of the recession that ended in June 2009. The economy “expanded at a modest to moderate pace” from late November through the end of December, while most industries saw “limited permanent hiring,” the Federal Reserve said in its Beige Book anecdotal business survey released yesterday. [14]

Despite looking a little better in previous weeks, the jobs market has a long road to recovery. The recession in 2008 wiped out 8.7 million jobs and there are around 13 million unemployed people in the U.S. That doesn’t even count the millions who gave up looking for a job. [1] I’d pass laws that say if you want to sell your goods in the U.S. then X% of your manufacturing cost of goods sold must be incurred in the U.S. This is what Bush I did for the Japanese car makers, and that worked pretty well for the U.S. I would also remove 95% of the tax loopholes (corporate and individual) and lower the overall tax rate (revenue neutral is my goal). Telling companies to be good people and manufacture in the U.S. even though their competitors use cheaper foreign labor isn’t a realistic approach because the U.S. companies would be at a price disadvantage and wind up going out of business (and the remaining U.S. workers will lose their jobs). For proof, look at WalMart – they are successful because most consumers are more worried about price than where a particular product is manufactured. [32]

Despite the rise, jobless claims have remained below 400,000, a level historically associated with an improving labor market, in nine of the past ten weeks. [21] More Americans filed initial jobless claims last week than most analysts expected, coming in at the highest level since early November. [20]

Continuing jobless claims in the week ended December 31 rose to 3.628 million, confounding expectations for a decline to 3.550 million. [21] The advance number of jobless claims jumped to 399 thousand for the first week ended January 7, 2012, the largest in six weeks, compared to 375 thousand in the earlier week thus reversing the recent fall in jobless claims. [29]

Conservatives mock this as the following comments from FreeRepublic document:

What?

All the temporary, holiday-season jobs actually came to an end after the holiday-season was over?

Who could POSSIBLY have predicted that?!

And:

Wow! The smartest guy in the world occupying the White House and Geithner never figured on this. Temporaries hired for Christmas seasonal shopping are now being laid off. What a shocker.

I’m waiting to hear the new numbers on the MSM. They sure were quick at 8.5% last week

And:

LMAO, how many times do these fools think we are going to believe that claims and the unemployment rate have gone down? And do they really think we believe that a ton of jobs were created in Dec? Even a halfwit can figure out most of the jobs in Dec are seasonal and come January the job numbers will be “adjusted” “unexpectedly”. Anyone who votes for HUSSEIN this time around, really and truly has to be stupid

And:

but but but – the unemployment rate went down???? We popped the champagne corks just last week!!!!!

Everybody, quick…stop celebrating /s/

And:

Some Pundits were still talking up the fact that it is still under 400,000. Well guess what? Next week, that 399,000 will be revised UPWARD over 400,000.

As you can see by my article here, I was mocking this “unexpected increase of jobless claims” crap a year ago almost to the day.

It doesn’t take a rocket scientist to figure this out – which just makes the mainstream media and their “analysts” all the more blameworthy.  There is something called “seasonal holiday hiring” that any fool ought to know all about.  And the simple fact of the matter is that while they are fools, they’re not stupid: had this decrease in the unemployment rate occurred during a Reagan or Bush presidency, the media would have jumped all over the “artificial” decrease being due to a surge of temporary workers.  But because it happened for their messiah, they uncorked their champagne to celebrate Obama’s magnificent leadership in bringing down the unemployment rate.

The unrelenting bias is as despicable as it is dishonest.  The media and the liberals they serve do absolutely everything they can to talk down the economy – and create economic pain – during Republican administrations by covering everything with an unfair negative slant; and then they do everything they can to talk UP the economy during Democrat administrations by covering everything with an equally unfair positive slant.

I have recently documented how bad things really are.  The major reason that the unemployment rate has dipped is because discouraged workers and people who finally exhaust their benefits are simply not counted.  When you ignore the propaganda math and look at the facts, you find that the labor force – as measured by the labor participation rate – is far smaller than it was when Bush was president.  And if you measured the unemployment rate with the same labor participation rate that George Bush had, unemployment would be 11.4 percent.

Newsweek is a hard-core liberal piece of trash, which makes this admission all the more stunning:

Evan Thomas of Newsweek was one of the few journalists who admitted that the mainstream media wanted John Kerry to win. He said media bias was worth as many as 20 million votes for Kerry. But that doesn’t mean that Newsweek is free of liberal bias. We picked up a copy of the January 10 issue and were astounded by the examples of bias contained therein.

We live in an immoral society that is on its way to a hard, hard fall.  And the degeneration and wickedness that today characterizes America is largely due to a media-fabricated culture.

Let me quote the same Evan Thomas on Obama:

Evan THOMAS: “…in a way Obama’s standing above the country, above – above the world, he’s sort of God. He’s-”

Chris MATTHEWS: “Yeah.”

Yeah, indeed, Mr. “I felt this thrill going up my leg.”  Yeah, indeed.

I keep preaching it: the beast is coming.  And when he comes, he will be a big government leader who will be celebrated and worshiped on an even grander scale than our media celebrated and worshiped Obama.  The coming Antichrist will literally be worshiped as “God” (see Revelation 13:8) and the mainstream media will lead the way toward establishing that demonic worship.  And Democrats will adoringly vote for him – and bring upon America the full fury of the wrath of God that we are already beginning to see in God damn America.

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Jobless Claims Rise ‘Unexpectedly’: Don’t Make This A Drinking Game Or You’ll Die

January 14, 2011

The mainstream media have made sure the word of the 2nd decade of the 21st century will be “unexpected.”  With “unexpectedly the top adverb.

I liked Indylindy’s take on the following story best:

Silly people, don’t you know the whole nation was healed last night? Who gives a damn if we have jobs?

We have Barry. /sarc

From Reuters:

Instant View: Jobless claims jump most in 6 months
NEW YORK | Thu Jan 13, 2011 9:03am EST

(Reuters) – U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.

The U.S. trade deficit narrowed unexpectedly in November as exports climbed to the highest level in more than two years, government data showed on Thursday.

U.S. producer prices rose more than expected in December as energy and food costs surged while underlying inflation remained subdued, highlighting a divergence that complicates the outlook for monetary policy.

KEY POINTS: * The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said. * It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000. * A Labor Department official noted the rebound occurred following the holidays, which may have hindered reporting of new claims and created a backlog. * The trade gap dipped to $38.3 billion from $38.4 billion in October, the Commerce Department reported. * Analysts surveyed before the report had expected the November trade deficit to widen slightly to $40.5 billion from October’s originally reported $38.7 billion. * November’s deficit was the lowest since January 2010. * Prices at the wholesale level climbed 1.1 percent after a 0.8 percent rise in November, the Labor Department said. * Economists had been looking for a repeat of that 0.8 percent advance in December. * Inflation excluding food and energy, however, rose just 0.2 percent, in line with forecasts. That left the year-on-year gain in core producer prices at 1.3 percent, just below analyst estimates.

If you are playing a drinking game using the word “unexpectedly” please stop immediately.  Because your liver will never last the final two years of the Obama presidency.

“U.S. jobless claims jumped unexpectedly…

Drink…

And yes, I mean your Kool Aid has been spiked.

Another factor that isn’t getting anywhere nearly enough media coverage is inflation.  As the economy continues to falter under Obama’s failed policies, those unemployed people are facing higher and higher food and fuel prices.

Conservatives were saying throughout the 2008 campaign that “hope and change” were never concretely defined.  Well, two years into Obama, you get to see what “hope” and “change” looks like.  Still liking it?

If you voted for Obama, you deserve to starve in the dark and cold.  It’s those poor suckers who opposed his regime who are now suffering its effects anyway that I pity.

Democrats and mainstream media “journalists” continue to “blame Bush” for the fact that the unemployment rate increased 34.2% from when Bush left office under Obama’s watch.  Their demagogic “Don’t blame us for our policies” rhetoric reminds one of the old communist Soviet Union, whose miserable agricultural performance was attributed to 72 years of bad weather.

The mainstream media has no intention whatsoever of being objective or honest when it comes to covering the results of Obama’s economic policies.  When Republicans are running things, even good news is depicted as bad news, with stories about fears of what could happen, but whenever a Democrat is in charge, even the very worst news must be wrapped in some sort of positive context.

The “unexpected” is “expectedly unexpected” once you learn the constant bait-and-switch games the media plays to the Democrat White House’s fiddling tune.

Last month, when there would have been your usual Christmas hiring.  But the media didn’t point out that the unemployment rate reflected 1) a very temporary blip due to phenomena such as Christmas hiring followed by New Years layoffs, and 2) the even more frightening fact that the rate was mostly impacted by people who were so discouraged they’d stopped looking for work:

But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was partly because people stopped looking for work. […]

But other factors can affect the unemployment rate, at least temporarily. One key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work.

But the only thing that mattered to most mainstream media organizations was that that way-too-close-to-10% number went down from 9.7% to 9.4%.  And that favored Obama.  So they went out and sang songs of rejoicing about it.

It would have been quite easy to put a Republican spin on that employment story of December: Republicans win the biggest victory since 1928, and all of a sudden the unemployment rate takes a huge drop as businesses realize that there will be somebody to stop a president and Democrat Party out to destroy businesses.  But I’m not like the mainstream media: I don’t delete any of my stories, and people actually hold me responsible in comments.  And I held off on pimping the good job numbers because I was pretty sure that the “good” unemployment statistic was nothing more than a temporary blip that was being pimped by liberals.

Headed In The Right Direction? Mortgage Delinquencies, Unemployment UP; Market, Leading Economic Indicators DOWN

May 21, 2010

Nothing was more responsible for the economic implosion of 2008 than the mortgage industry.  So it is somewhat illuminating that – to go along with the European Union government spending crises and yesterday’s corresponding bloodbath in the Dow (down 376 points) which officially put Wall Street into “correction territory” – we now see that, if anything, our mortgage woes under Obama are actually worse than ever.

Mortgage delinquencies hit 10%
By Les Christie, staff writerMay 19, 2010: 1:20 PM ET

NEW YORK (CNNMoney.com) — A dubious distinction was reached during the first three months of 2010: More than 10% of all mortgage borrowers are now behind on their payments.

The delinquency rate hit a record of 10.06% in the first quarter, according to the Mortgage Bankers Association. The seasonally adjusted rate accounts for all mortgages on properties that have up to four units and that are at least one payment late.

The rate has been inching steadily toward this record. In the previous quarter, 9.47% of borrowers were behind on payments; and one year ago, 9.12% were late. […]

Nearly all varieties of loans suffered increased delinquencies compared with 12 months earlierPrime fixed-rate loans hit 6.17%; prime adjustable-rate mortgages (ARMs) tipped 13.52%. Subprime fixed-rates jumped to 25.69%; and subprime ARMs are a whopping 29.09%.

So, to put it bluntly, a full year and a half later, Barry Hussein hasn’t done anything to fix the biggest component that created the economic collapse of 2008.  Not a damn thing.

The problem is actually worse than ever.

A significant factor contributing to this crisis is unemployment.  But, again, Obama hasn’t done a damn thing (all failed predictions and promises aside) to create jobs:

Jobless claims rise by largest amount in 3 months
By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer   – Thu May 20, 4:29 pm ET

WASHINGTON – The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.

Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday.  It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

The total was the highest since new claims reached 480,000 on April 10. It also pushed the average for the last four weeks to 453,500.

“Although no one expects this volatile series to go in one direction every single week, this is clearly a disappointment,” said Jennifer Lee, senior economist at BMO Capital Markets.

Stocks slid as investors’ already bleak view of the world economy worsened with another drop in the euro and the disappointing U.S. employment news. The Dow Jones industrial average fell more than 250 points in early afternoon trading.

“Unexpectedly.”  The propagandists adverb of choice.

After a newspaper or news station has used the word a thousand times, you’d think they’d grow tired of making excuses for the numerous failures of the White House.  But, noooooo.  They never weary of describing bad news as “unexpected” as a device to imply that it was really nobody’s fault.

Now, mind you, they liked to use the word “unexpected” a lot when Bush was president, too.  But then it was to reduce the credit that Bush should have received for successful policies.  Take the result of his tax cut, which boosted revenue.  The New York Times wrote:

“For the first time since President Bush took office, an unexpected leap in tax revenue is about to shrink the federal budget deficit this year, by nearly $100 billion.

On Wednesday, White House officials plan to announce that the deficit for the 2005 fiscal year, which ends in September, will be far smaller than the $427 billion they estimated in February.”

When a Democrat is president, bad news is always “unexpected” to the mainstream media.  When a Republican is president, it’s always GOOD news that’s “unexpected.”

What is the Obama message that continually keeps being falsified by “unexpected” actual results?

“We can say beyond a shadow of a doubt today we are headed in the right direction,” Mr. Obama told an audience of about 230 workers and local business leaders. “All those tough steps we took, they’re working, despite all the naysayers who were predicting failure a year ago.” ….

“Last month we had the strongest job growth we had seen in year, and by the way, almost all of it was in the private sector, and a bunch of it was manufacturing,” the president said, referring to last week’s report that found that the economy added 290,000 jobs in April. “So this month was better than last month. Next month is going to be stronger than this month. And next year is going to be better than this year.”

Only it’s a load of crap from a pathological liar.

The AP article cited above continues with this paragraph:

In a separate report, a private research group said its index of leading economic indicators dipped slightly in April. It was the first decline in more than a year.  Six of the 10 components on the Conference Board’s index deteriorated. Among them: U.S. residents filed fewer applications to build homes; vendors were slower in delivering supplies to companies; the unemployed filed more claims for jobless aid; and consumers’ confidence dropped.

Ah, but I have absolutely no doubt whatsoever that the drop was “unexpected.”

May 20 (Bloomberg) — The index of U.S. leading economic indicators unexpectedly declined in April, a sign the economic expansion may slow in the second half of the year.

NEW YORK (Associated Press) — A private research group’s index of leading economic indicators unexpectedly slipped in April, its first drop in more than a year and a sign that growth could slow this summer.

I knew it!!!  You clearly can’t blame Obama for any of that.  I mean, duh, who could possibly have “expected” it???

Why don’t we just keep believing more of Obama’s constant stream of lies, instead???

Let’s see.  Month of May.  Major market correction, with the Dow down 900 points this month.  Check.  Mortgage delinquencies up.  Check. Unemployment up.  Check.  Leading economic indicators down.  Check.

Famed market analyst Meredith Whitney says that Obama’s moronic financial “reform” that passed the Senate yesterday will succeed in creating tragic levels of unemployment for extended periods of time.

Just remember: Barack Obama is telling you the truth.  It’s reality that’s lying to you.

Everything is hunky dory.  And anything to the contrary has to be “unexpected.”

Obama Continues To Resort To Fabrication To Pimp His Porkulus

October 30, 2009

It would be nice if the Obama administration got its narrative straight.  Christine Romer, the chair of Obama’s Council of Economic Advisers, says that the stimulus pretty much had all the effect it’s going to have.  And while she’s saying that, Treasury Secretary Timothy Geithner is proclaiming that the stimulus was designed with a two-year horizon and that “half that effect is still ahead of us.”  Maybe they could get together and cook their story.

It wouldn’t hurt if the White House got its basic facts straight, while they were at it.

From the AP, in an article entitled, “Stimulus Watch: Stimulus Jobs Overstated In Report”:

WASHINGTON – The White House is promising that new figures being released Friday will be a more accurate showing of progress in President Barack Obama’s economic recovery plan. It aggressively defended an earlier, faulty count that overstated by thousands the jobs created or saved so far.

Ed DeSeve, serving as Obama’s stimulus overseer, said the administration has been working for weeks to correct mistakes in early counts that identified more than 30,000 jobs paid for with stimulus money. He said a new stimulus report Friday should correct many mistakes an Associated Press review found that showed the earlier report overstated thousands of stimulus jobs.

“I think you’ll see a pretty good degree of accuracy,” DeSeve said in an interview.

White House spokesman Robert Gibbs downplayed errors in job counts identified by the AP’s review, telling reporters, “We’re talking about 4,000, or a 5,000 error.”

The AP reviewed a sample of federal contracts, not all 9,000 reported to date, and discovered errors in one in six jobs credited to the $787 billion stimulus program — or 5,000 of the 30,000 jobs claimed so far.

Even in its limited review, the AP found job counts that were more than 10 times as high as the actual number of paid positions; jobs credited to the stimulus program that were counted two and sometimes more than four times; and other jobs that were credited to stimulus spending when none was produced.

For example:

• Some recipients of stimulus money used the cash to give existing employees pay raises, but each reported saving dozens of jobs with the money, including one Florida day care that claimed 129 jobs saved.

• A Texas contractor whose business kept 22 employees to handle stimulus contracts saw its job count inflated to 88 because the same workers were counted four times.

• The water department in Palm Beach County, Fla., hired 57 meter readers, customer service representatives and other positions to handle two water projects. But their total job count was incorrectly doubled to 114.

Those errors were included in an early progress report on the stimulus released two weeks ago that featured numerous mistakes, including a Colorado business’ claim that its stimulus contract created more than 4,200 jobs. TeleTech Government Solutions actually hired 4,231 temporary workers for its stimulus project, but most of them worked for five weeks or less and the others no more than five months, company president Mariano Tan said.

The short-term positions should have been reported as 635 full-time, 40-hour-a-week jobs under the government’s method of calculating stimulus work, Tan said.

Now, first of all, stop and contemplate the farce that is going on here.  We have lost 3 million jobs since Obama bluffed and pandered his generational theft act through Congress.  And they are touting 30,000 jobs as a success?  I mean, 30,000 jobs created or saved is a massive failure on its face.  And then it turns out that even many of those 30,000 jobs are bogus.

Obama promised his Wreckovery Act would create 3 million new jobs.  The fact that he now has to play games to create the illusion that he “saved” or created a minuscule 30 thousand jobs is a screaming testimony to what a failure Obama has truly been.

The White House, according to media reports, is blasting the Associated Press for exposing this new Obama administration fabrication.  I guess they’re not a “legitimate news agency,” either.

The Obama administration has been pumping sunshine (a polite synonym for “lying”) practically since the day their porkulus generational theft act was passed back in February.  That was when Obama officials falsely promised the country that they would be able to keep unemployment below 8% if we gave them their stimulus.  Even liberals are increasingly acknowledging that Obama has been a total bust at job creation.

Obama now has a documented history of fallacious expectations and highly selective cherry-picking of “facts”.  It is par for the course for a president who only knows how to campaign, rather than to lead or to actually solve problems.

And nothing has been more completely fraudulent that their repeated attempts to argue that their Wreckovery Act created jobs.

The reality is that the European leaders who predicted government stimulus would fail to improve the economy were right, and Obama was wrong.  There is a clear correlation between stimulus money and unemployment, but it isn’t the kind of correlation Obama wanted: the more spending by government, the higher the unemployment rate.

We’re told that the economy grew by an annual rate of 3.5% last quarter, and that this signals the recession may be over.  But there’s a little factoid that needs to be understood, namely:

Economists forecast the nation’s total output grew at an annual rate of 3.3 percent between July and September, after contracting for a record four straight quarters. That growth has been fueled by a huge influx of government cash, including a temporary tax credit for first-time homeowners and a $1.25 trillion Federal Reserve program to keep mortgage rates low.

In other words, the GDP grew, my hind end.  Rather, the government spent a ton of money, the result of which was to artificially pump up the economy.  It’s the equivalent of borrowing a ton of money you don’t have to buy a car you can’t afford in order to impress your neighbors.  Only it’s Obama instead of you, and it’s trillions of dollars rather than thousands.

As a result of this fraud, the administration can pump up a number.  But the reality is very different.  Consumer confidence “unexpectedly” dropped in October just as we’re entering the critical Holiday shopping season, meaning the American people aren’t falling for the ruse.  And new home sales took an “unexpected” dump into the toilet to throw a bucketful of cold water into the face of anyone naive enough to buy the myth that we’re going to rise above our housing market woes.

As a result of too many partisan political shenanigans over too long a time, most Americans – by a solid 52% to 36% majority – believe that Obama has the country on the wrong track.

I would submit that a little more honesty, and a lot less bullpuckey, would go a long way.