Mike
Well-known member
Are we in Free-Fall? While the Fed is no doubt manipulating the DOW, the piper's money will come due:
WE TOLD YOU SO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And this is NOT meant to be funny.
We were told that Porkulus would bring unemployment rates down to 8% ?
WE TOLD YOU SO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And this is NOT meant to be funny.
We were told that Porkulus would bring unemployment rates down to 8% ?
CNBC - Sept 15
Applications for unemployment benefits continued to rise in the past week, while inflation pushed higher and a key manufacturing index weakened.
The weekly jobless claims number, which is closely watched as an indicator for employment trends, unexpectedly rose 11,000 to 428,000, well ahead of estimates of 411,000.
The consumer price index, meanwhile, gained 0.4 percent when including volatile food and energy prices, after an increase of 0.5 percent in July. The so-called core CPI, though, gained 0.2 percent, which was in line with expectations.
Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power.
For the 12 months ending in August, the core index surged 2 percent, the biggest year-over-year increase in nearly three years. That's at the top end of the Federal Reserve's informal inflation target. It could limit the central bank's ability to take further steps to try to revive the economy.
Food prices rose 0.5 percent, the biggest increase since March. That was due to higher prices for cereals and dairy products. Energy costs increased 1.2 percent.
"The large CPI gain in the face of weakening confidence, slowing consumer spending and softening production provides a poor backdrop for expansion," said Citigroup economist Steven C. Wieting in a note to clients.
Other indicators from a major government data release this moring also were not not encouraging: New York manufacturing activity contracted in September for the fourth consecutive month.