Larry Levin’s Blog: More Debt The today topic that Larry Levin shares with us is called “More Debt. It also sounds interesting. Just learn to trade !
People are talking about the jobs situation in the US. And it’s known to be is dismal. We received more proof of that Thursday morning. Moreover, as I write this president Obama has started his speech yet, which is being called a “jobs speech;” however, it is really another “stimulus” speech.
All of the $TRILLIONS of previous “stimulus” attempts have failed as will this one. What will happen! For sure, the taxpayer will be saddled with at least $400,000,000,000.00 of additional BORROWED DEBT, with nothing to show for it.
In this morning’s weekly unemployment claims was horrible – again. Furthermore, last week’s claims were increased – again. The Bureau of Lies & Statistics (BLS) just doesn’t want to tell the truth, after all, a lie on the low side is always better for the stock market and isn’t anti-free market shenanigans just what the Doctor ordered?
From the report we read… in the week ending September 3, the advance figure for seasonally adjusted initial claims was 414,000, an increase of 2,000 from the previous week’s revised figure of 412,000. The 4-week moving average was 414,750, an increase of 3,750 from the previous week’s revised average of 411,000.
Update: The president is now making his speech and the S&P 500 is reacting. It doesn’t like it; the market just tanked 13.00 points. Will it last? No one knows.
Trade well and follow the trend, not the so-called “experts.” Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.