DOW Watch Friday 9/6 Edit Unemployment hits 10.2%

[Madnsassy]

Thought I'd start it early.  It's either going to be a very interesting Friday . . . or not.

[akaskip]

  Yesterday the headline read, stocks soar on strong economic data, today it will probably read something like, stocks fall on weak economic data
 I say tomorrow unemployment hits 10% and the markets will give most of the recent gain back.

[picasso moon]

I say 9.9%, and this will be greeted as a triumph, as it's below 10.

[ninakat]

I say 9.9%, and this will be greeted as a triumph, as it's below 10.

Such cynicism, picasso! (I do think you're right.)

[jcs44]

I say 9.9%, and this will be greeted as a triumph, as it's below 10.

The key on this is what number is "expected" by those super intelligent economists. I think they are expecting the 9.9%, so if it comes out as 9.9% or less, the markets rejoice. Anything worse than this, however, we may see the market give back some of its major gains from yesterday...

[zenobia]

It should be interesting - futures only at 5 right now.  At least I hope it will be interesting.

[quick]

CNBC yesterday - one of the taders had it nailed - he said the rate needed to be below 10% for markets to do well and he thought TPTB were working on getting the right number as we speak !

I guess he thinks they figure what number is best and then make that number happen!!   

[Megadoom]

CNBC yesterday - one of the taders had it nailed - he said the rate needed to be below 10% for markets to do well and he thought TPTB were working on getting the right number as we speak !

I guess he thinks they figure what number is best and then make that number happen!!   

They've already done that by changing how the statistic is calculated. People fall off unemployment and are no longer counted. Beautiful little cover up and 21st century economists see nothing wrong with the way its calculated. It boggles the mind. Like I've said before if they can hold this thing together long enough (fake mark to market rules, cooked bank books, and PPT Fruedian mental tags) the employment figure is bound to get better by design. 

I think we're losing sight of real doom, and that lies with our currency and with resources (oil, gold, rare metals, water, etc). They haven't collapsed.....yet, but there is no doubt in my mind that we're currently at peak levels of production. Maybe next Summer, or when Israel or the US are legitamized into attacking Iran - I see the false flags stacking up, don't you? It certainly is a harbinger of economic doom, among other things.

[feelingweird]

JUST IN...

195K Job Loss
10.2% Unemployement Rate

Let's see the damn markets shrug this number off.

Futures plunged to -50 in a matter of 90 seconds.

Robert

[rayban]

Link:  http://finance.yahoo.com/

[yikes!]

I thought for sure "they" would have tried to keep it under 10%, interesting hand tip here, are they now choosing to prop the dollar up in advance of the g-20?

Should be some fireworks today

[cz]

JUST IN...

195K Job Loss
10.2% Unemployement Rate

Let's see the damn markets shrug this number off.

Futures plunged to -50 in a matter of 90 seconds.

Robert

But isn't 195K "less than expected"?

[DirtyHowi]

-35 on futures now

[feelingweird]

Merging this story in with DOW watch..

Robert

[Big Scotsman]

The BS BLS U-6 number is now 17.5 %
http://www.bls.gov/news.release/empsit.t12.htm

I bet the SGS number will be over 22%.  He should have that post in the next few hours here:
http://www.shadowstats.com/charts_republish#emp