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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (7766)	6/10/2004 9:26:24 AM
From: TobagoJack	Read Replies (1) \| Respond to of 116555

... only willing to bet a quarter ? :0)

To: Knighty Tin who wrote (7766)	6/10/2004 10:29:37 AM
From: mishedlo	Respond to of 116555

U.S. jobless claims rise to 6-week high - Thursday, June 10, 2004 1:33:08 PM WASHINGTON (AFX) -- The average number of workers filing initial state unemployment claims over the past four weeks rose by 4,750 to a six-week high of 346,000 last week, the Labor Department reported Thursday Initial claims in the most recent week rose by 12,000 to 352,000, a seven-week high, the agency said. Economists were predicting a drop to about 336,000. Meanwhile, the number of Americans receiving unemployment checks fell by 106,000 in the week ending May 29 to 2.88 million, the lowest level in three years. It's the largest decline in continuing claims since the first week of the year. The insured unemployment rate dropped to 2.3 percent from 2.4 percent The drop in continuing claims likely stemmed from increased hiring as well as the high rate of workers exhausting benefits before finding work. At the same time, layoffs remain somewhat elevated for this phase in a recovery In a separate report, the Labor Department said import prices rose 1.6 percent in May, the fastest rate in 16 months, on higher petroleum, natural-gas and steel prices. Export prices are now up 4.3 percent year-over-year, the biggest rise in 10 years by that measure. Weekly jobless-claims data are extremely volatile, so economists recommend looking at longer trends, such as the four-week average, to get a better handle on the labor market After sinking by about 40,000 between August and December to about 360,000, the average number of new weekly claims has bounced between 335,000 and 355,000 for the past three months Economists say claims at this level are consistent with monthly job growth of about 200,000. Over the past three months, nonfarm payrolls have increased by an average of about 315,000 The weekly jobless-claims figures don't say anything about hiring, only about involuntary job losses. Increasing numbers of workers are not eligible for unemployment benefits even if they lose jobs through no fault of their own Long-term joblessness has been especially persistent during this recovery. Novertheless, the federal government has ended its program of providing benefits beyond the typical 26 weeks provided by the states. In May, of the 8.2 million jobless Americans, 1.79 million had been out of work longer than six months. The average duration of unemployment rose to 20 weeks from 19.7 weeks, while the median duration rose to 10 weeks from 9.5 weeks. The extent and duration of long-term unemployment remains near 20-year highs The official unemployment figures do not include those who've given up looking for work or who have taken part-time jobs instead of the full-time work they had sought fxstreet.com

To: Knighty Tin who wrote (7766)	6/10/2004 1:01:19 PM
From: benwood	Read Replies (1) \| Respond to of 116555

MB, I agree that there would be no impeachment, in spite of the likely felonies involved. Congress is Rep. controlled and won't spank it's own. However, if things really blow up for Shrub, I think there will be enormous pressure to have him resign to save the party. That said, I don't see how the conservative press will allow it to blow up. Still, history is littered with bad intentioned people having things blow up on them in spite of their efforts to control. Your scenario is a likely response by the desperate neocons, and I give it fair odds of occurring in some form.