ECONOMY Updated August 2, 2012, 12:11 p.m. ET Jobless Claims Increase (gas prices, vote, gasoline)
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ECONOMY Updated August 2, 2012, 12:11 p.m. ET
Jobless Claims Increase
The number of U.S. workers filing applications for jobless benefits rose last week, continuing an uneven pattern that suggests job creation was likely modest in July. factory orders unexpectedly fell in June, the latest sign that the slowing economy is sapping demand.
Yes, but jobless claims also increased last week (reported this morning). The number will be revised upward next week, as it is every week at this point.
Also, the Empire State Index came in negative yesterday and the Philly Fed index, as reported today, was negative again. Housing starts for July were down (but permits were up).
There has been some good news. Retail sales went way up last month and nonfarm payrolls increased enough last month to account for population growth for the first time since March (but the household survey indicated that less people had jobs and the UE rate did rise).
In other news, fuel prices are surging now....again...and it looks like 2012 will be the year with the highest average gas prices ever.
There has been some good news. Retail sales went way up last month and nonfarm payrolls increased enough last month to account for population growth for the first time since March (but the household survey indicated that less people had jobs and the UE rate did rise).
In other news, fuel prices are surging now....again...and it looks like 2012 will be the year with the highest average gas prices ever.
Retail sales in the first part of the summer did well because gasoline prices were down. That's not the case now. Oil is well on it's march to $100 again. Belief in QE III must be pretty strong.
Screw the lower and middle classes though, the markets must continue upwards.
Retail sales in the first part of the summer did well because gasoline prices were down. That's not the case now. Oil is well on it's march to $100 again. Belief in QE III must be pretty strong.
Screw the lower and middle classes though, the markets must continue upwards.
Actually retail sales contracted significantly in June (and contracted in previous months as well) but then bounced back in July.
Part of it has to do with increased food prices.
I put the chances of QE 3 (being announced in September anyway) at 10%.
Actually retail sales contracted significantly in June (and contracted in previous months as well) but then bounced back in July.
Part of it has to do with increased food prices.
I put the chances of QE 3 (being announced in September anyway) at 10%.
O.K. thanks. But the retail jump was attributed to unexpected lower fuel costs. Increased food prices are driven by the same thing in part by what has driven oil up. QEIII will only add to this. I say that it happens. I have no idea when exactly but happens.
There is the slim possibility that Romney would keep his promise and fire Bernanke but I wouldn't bet on that nor that anyone he would replace him with wouldn't continue the same failed policies. That in large reason is why I won't vote for him.
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