People are ignoring the real economy and focused on propped up stocks.
By Daniel at 21 January, 2010, 12:13 pm
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People like GS continue to reap temporary gains - when the reality hits, and it will, it will drop this all like a rock - today we got another dose of reality on the unemployment front, and remember people, COMPANIES DID NOT HIRE in the holiday season, THIS IS MORE ACTUAL NET LOSS!
Goldman Sacks adds nothing to economic production - It places itself in the way of free market activity & demands a ransom fee to get out of the way. The only way to reverse the increasing economic Depression is to immediately reinstate Glass Steagall, grab the FED’s record books & then abolish it, & get rid of all the sweetheart deals cut allowing financial firms to speculate in our oil, gasoline, metals, & food etc.
Now a little data:
INITIAL filings ACTUAL history:
W/Ending … 2010 ….… 2009 ….… 2008 ……. 2007 ….… 2006
1/2/2010 … 645,446 … 731,958 … 521,311 … 499,979 … 475,889
1/9/2010 … 804,922 … 959,791 … 547,506 … 506,059 … 555,114
1/16/2010 … 650,728 … 763,987 … 415,149 … 506,709 … 439,873
YTD Totals 2,101,096..2,455,736..1,483,966..1,512,747.. 1,470,876
And more importantly, catch the trends on the CONTINUING:
2005 …3,311,633 - extended 0, …..total 3,311,633
2006 …3,051,709 - extended 0, …..total 3,051,709
2007 …3,103,449 - extended 0, …..total 3,103,449
2008 …3,249,432 - extended 0, …..total 3,249,574
2009 …5,715,432 - ext 2,094,313, total 7,808,745
2010 …5,716,608 - ext 5,654,544, total 11,371,152
One final note, federal extended INCREASED by 652,364 ACTUAL last week while state level DECREASED by 299,837 ACTUAL - so net ACTUAL extended INCREASED by 352,527. Read the reports and FOCUS on the actuals vs. history folks - this is getting MUCH worse!
One final note next time you here how many jobs the “stimulus” created or saved - look at that ‘09 vs. ‘10 number folks, continuing is 3.5 MILLION higher on the rolls - there are MORE not receiving unemployment!
- irishscot2
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