The advance number for seasonally adjusted insured unemployment during the week ending April 18 was 6,271,000, an increase of 133,000 from the preceding week’s revised level of 6,138,000. The 4-week moving average was 6,076,000, an increase of 131,500 from the preceding week’s revised average of 5,944,500.
Aaaand I would hazard a guess to say that this week’s numbers, despiting being an increase of 130+ thousand will be revised upwards by another 130+ thousand or so.
*sigh* *sigh* The We’re Fucked Train, now departing the station ahead of schedule. That’s right, the horn sighs. The guy who was supposed to maintain the “Woot Woot” sound.. um, got shit-canned.
Ever notice how, in the good times, news that’s great gets revised to merely good, and in the bad times news that’s fucking horrible gets revised to … whatever’s worse that fucking horrible.
I wish I had something better to say, but the only good news is that Chrysler is going bankrupt. But even that’s bad news because that’s getting them another $8 billion dollar Failout (because the last one was defaulted on, why shouldn’t this be?). Oh, and restaurant owners have seen less negative growth in traffic (meaning still less customers but less less customers… i guess?) which I take to imply that everyone who can/has to eat out (workers who still have jobs and take lunch breaks) is still doing so, but even more and more of them are brownbagging it. Still, restaurant investment is at a 9 month high… because people are fucking idiots.
Actually the only glimmer of hope is that the initial unemployment claims have dropped a little on the seasonally-adjusted basis. The advance figure is a drop of 14k from the previous week’s revised number… however, on the basis of this last year of history, this number will be revised down, just like the last one was…. I’m keep my hope pants in the drawer for now.
Oh, yeah, and Fiat, who’s taking over Chrysler? They’re getting rid of the asbestos and environmental liabilities Chrysler has via bankruptcy court, which they would have had to otherwise deal with if they bought them outright. Guess whose gonna be paying for that?
Yeah, you and I.
Tags: All aboard the We're Fucked Train!, depression 2.0, failout, no really we're really fucking fucked this time, we're fucked