Thursday, January 6, 2011

New claims for unemployment benefits rise above 400,000

More Americans applied for unemployment benefits last week.
Applications remain slightly above the lowest level in two years and the four-week average of applications, a less-volatile measure, dropped last week for the eighth time in nine weeks.
The Labor Department said Thursday that new claims for unemployment benefits rose 18,000 to a seasonally adjusted 409,000 in the week ending Jan. 1.


  1. Why does this website keep publishing these negative articles ?

    When it is clear the jobless economic recovery is on track and the stock market and even gold is on a roll!!

    "Long live free money for banksters and long live the American taxpayer !" Jubilantly reports
    on yet another great day for Ponziland ,more bailouts for banksters at future taxpayer and their childrens expense .

    America your looking Good!

    Houses and mortgage bond debts in America are finally beginning to be realisticaly priced at their true third world replacement value for banksters .
    One cent on the dollar!
    This will help clear up some bad debt banksters Books.
    BoA Shares are up !
    Its party time on Wall St again .

    Those lazy NINJA cockroaches living on the street after foreclosure should also patriotically celebrate this step towards the recovery of the great Ponzi economy with street parties of their own.
    Even though they will get no refunds.

    BofA Freddie Mac Putbacks Resolved for $0,01 on the dollar !

    by Barry Ritholtz - Big Picture
    Bank of America settled numerous claims with Fannie Mae for an astonishingly cheap rate, according to a Bloomberg report. A premium of $1.28 billion was paid to Freddie Mac to resolve $1 billion in claims currently outstanding. But the kicker is that the deal also covers potential future claims on $127 billion in loans sold by Countrywide through 2008. That amounts to 1 cent on the dollar to Freddie Mac. Imagine if you had a $500,000 mortgage, and you got to settle it for $5,000 — that is the deal B of A appears to have gotten from Freddie Mac.

    B of A also paid $1.52 billion to Fannie Mae to resolve disputes on $3.1 billion in loans (~49 cents on the dollar). They remain liable for $2.1 billion in repurchase requests, as well as any future demands from Fannie Mae. My biggest complaint about the GSEs post government takeover is that they have been used as a back door bailout of the banks. This latest deal reconfirms that view. It's a wonder BofA didn’t rally further than the 6.7% it surged yesterday . . .

    For a Simple dialogue and other recent posts explaining the great Fannie And Freddie bailout set up .

  2. trend is temp and partime will they fund gov with lower wage workers..oh, they'll just raise the debt ceiling and spend in deficit
    ..can kickers kicking cans and down the road we

    states reported lower revenues yet higher spending..weird but someday it'll end

    42,000 factories shipped out to oversea's last decade...

    shame on anyone who reads stats and things..shouldn't we be out at the mall buying a gizmo made oversea's

  3. "shame on anyone who reads stats and things..shouldn't we be out at the mall buying a gizmo made oversea's "

    Yes ,dont be a slacker in these tough times ,
    someone has to be patriotic and support the free enterprisesystem of american manufacturers who have taken the factories and jobs they own over to cheap labor countries.

    And if you havent got a penny
    well, God bless you.

    Or, find some godamn credit fast, as your country needs you to buy, right now !

  4. 7:52, You are right, I was forced to retire from one of the major chemical/Textile companies in the work back in the early 90's. Beginning in the late 70's, they began to more toward more temp. and with employees hired at a lesser rate of pay and minimal or no benefits. The true but sad story to this all is that they were performing the very same work as the folks making the higher wages. Obviously this caused many probems for both the line Supervisors (me) and the full service employees.

    There are many facets in which we are in this mess we're in. Number one, above all, is corporate greed, the Demings and the egghead guru culturist and economist know it all's can blame it on Union's all they wish, it still dosen't resolve the fact also that government, MUSt lower the corporate tax rate.


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