Thursday, December 30, 2010

Was The Jobless Claims Number Good? Don't Get Too Excited...

Of course, the seasonally adjusted headline number over which every talking moron in the financial media is doing an end zone dance over looks great.  But here's the golden truth, direct from the Dept of Labor press release:  The advance number of actual initial claims under state programs, unadjusted, totaled 521,834 in the week ending Dec. 25, an increase of 24,879 from the previous week.

Here's the press release if you want to peruse the report:  LINK

So there you have it.  Just more Government and financial media Orwellian/Randian garbage.  The fact of the matter is that our economy is starting to fall of a cliff again.  Expect more QE and higher precious metals prices in 2011.  That will be my only 2011 prediction.


  1. Dave, Thought you would enjoy this...this guy destroys the argument that the many We Buy Gold signs prove gold is in a bubble. Happy New Year!

  2. thanks pw! my view is that as long as there are loud voices screaming "bubble," gold ain't even close to being in one.

    the fact of the matter is that all of the "buy gold" businesses are evidence that the public is more willing to flee from gold rather than rush into gold. when the public rush starts is when we start to take profits and think about the next "game."

  3. The time to sell will be when:

    1)paper stops losing its value
    2)cash-4-gold places start selling instead of buying
    3)Oprah Winfrey says tells the public to buy

  4. The time to sell is when:

    1) paper stops losing its value
    2) cash-4-gold schemes start selling
    3) Oprah tells the public to buy

  5. Shit is false report by the US ruling elite - crooks and leeches sucking the blood of its people - wake up wake up Americans