Home > Obama > Jobless Claims Up Again!

Jobless Claims Up Again!

How unexpected!

Initial jobless claims increase unexpectedly

New claims for jobless benefits increase unexpectedly, while total benefit rolls drop

The Labor Department said Thursday that first-time claims increased by 18,000 in the week ended April 3, to a seasonally adjusted 460,000. That’s worse than economists’ estimates of a drop to 435,000, according to a survey by Thomson Reuters.

Is this unexpected? We have an Administration that is about as anti-business as FDR ever was. (You know how much he wants to be like FDR, the Liberal Zeus.) Obama is about to start a trade war with China, all to help his protectionist Union buddies. Obama just signed into law one of the most prolific tax hikes on business, since the New Deal. He signed into law a Stimulus Package that does everything but stimulate private businesses. And now there is talk of a VAT tax.

There is nothing unexpected about it. In fact, expect unemployment to keep going up!

Categories: Obama
  1. yttik
    April 8, 2010 at 12:17

    Could I become an economist? I think I’ve got the job figured out, you just run around saying everything is “unexpected.”

    But seriously, I’m grateful for the little folks, the non-experts, who saw this coming and started sounding the alarm. I remember trying to tell people, don’t refinance your home as if it were worth these inflated prices, the bubble is going to pop. Don’t purchase this over priced home just because some loan “expert” tells you you can afford it. And to some of the bigger contractors, don’t go in the red over this big project, you’re going to have a hard time finding buyers. And so it goes…those who listened are still kicking, those who did not are hurting.

    • April 8, 2010 at 14:54

      Only certain economist, not all. I think there is going to be a paradigm shift from Keynes to Hayek in the coming years. Remember the 70’s were also a failure of Keynesian theory, but since Keynes’ theories work so well with Statist, academia didn’t let it go. Instead you got the New Keynesian theorists. The 2000’s bubble is the failure of those New Keynesians.
      You have more and more people becoming interested in Austrian econ (your non-experts). I think they are going to gain ground, especially with the current questioning of the Fed (historically a Austrian criticism) now becoming more prominent.
      Remember it’s the Keynesians that keep telling you to spend your way to prosperity.

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