Friday, February 4, 2011

Gallup: Unemployment Rate Up in January to 9.8%

Gallup: Unemployment Rate Up in January to 9.8%

Oopsie doopsie duh-bamma, the lies just don't last. Most economists now say the government figures are just jiggled feel good lies, so they do their own.

But more importantly, not-seasonally adjusted U-6 surged from 16.6% to 17.3%! As many more people just give up looking. Which explains why the Government lies and comes up with a 9% unemployment, inspire of only 36,000 new jobs produced -- Huge Miss To +146,000 Expectations. Most say you need +200,000 new jobs to keep even.

The unemployment rate fell by 0.4 percentage point to 9.0" at this rate we'll have a surplus of jobs next year without anyone actually working -- Astonishing how few jobs you get for $1,400,000,000,000 new debt per year.

And here comes inflation ...

With the oil price, predicted to breach $100/barrel, will at that level be about three times the low reached in December 2008, when Obama took office ... I guess stopping offshore drilling in the USA and chasing all the rigs out of US waters has had the intended effect hey. BTW: Did you know the Judge issued a contempt of court ruling this Monday? -- Seems he took notice of the duh-bamma lies that the original moratorium were based on, and ordered damages and legal fees be paid.

On food prices, the United Nations sounded the alarm in January, pointing out that prices were at record levels. The year-on-year increase was more than 30%, although some products, notably wheat, shot up by much more than that -- Who eats wheat anyway? Uh Egyptians do.

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