It’s Thursday


And initial unemployment claims hit the highest rate in nearly 2 years, 261,000 up 28,000, while the less volitile 4-week moving average by 7,500 to 237,250.

Continuing claims fell by 37,000 to 1.757 million, but this does not include this week, so I would expect the continuing claims number to go up rather significantly next week.

I think that we are already in a recession, but that it won’t be called this year, though it may be backdated to this coming September or so.

Then again, my predictions are pretty worthless.



Matthew G. Saroff

Husband, father, pinko, slave to cats