DOW Watch Friday 9/6 Edit Unemployment hits 10.2%

[nomore]

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

I watched the babbling heads on CNBC announce the numbers (& then play at 'analyzing' them, hahaha). They glossed over that BLS U-6 *underemployment* number pretty fast so I heard the '17' but not the additional .5 behind it. Whoa.

So one in 10 is out of work (a point some CNBC idiots made) *and* one in 6 is underemployed per the .gov massaged figures.

Think about that today.

[Big Scotsman]

I think if you look at the true number we are fast approaching 1 in 4 is out of work.

Gov't no longer massages the numbers, they are flat out lying!

Now go get your damn Flu shot 

[commonsensical]

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"?

Yes, this is how I've learned to interpret numbers over the the course of 2009... 

[vic_d]

Thats all they could manage despite all of massage or did they figure out the best way to have strong currency is to have everyone unemployed as the dollar jumped on the news. The DOW will soon be positive - unemployment growth is growth too. Less people working means more savings for companies. 

Thank God Obama saved all those jobs with recovery plan.

[jtmo3]

Dow at end of day +50. Since when does news move the market. Computers and day traders could care less what the unemployment numbers or dollar index is doing. Yesterday was proof of that.

[jtmo3]

Geez. I turn on Bloomberg and what are they talking about. Not so much the unemployment numbers but the good gdp numbers saying they are the true gauge. Does this ever stop. This is why I don't watch these idiots very often. Surely these people aren't this stupid. It's amazing what a whore will do for money and a job.

[joewp]

The Dow was up by 20 a moment ago, but now it's struggling to stay in positive territory.

Who are the idiots that are buying in this grossly overvalued market? I just checked the month end S&P 500 P/E ratio. It's 137.98!

That's totally out of whack historically. Earnings would have to increase 10-fold to justify today's stock prices.

I think the PPT is working overtime, pumping manufactured money into the market because that's one of the few "green shoots" they can actually control.

[yikes!]

Dollar is under attack again, Gold is flying.. the battle is on!

[Doom2Spare]

BREAKING NEWS:

Green Shoot industry to add 30,000 new jobs. 
Senior economic adviser, Bill Shat, was quoted as saying that he attributes the massive growth in the 'shoot' industry to the timely stimulus injected into the economy by the Obama administration.

[Ellie]

Looking at that unemployment chart and the dots for the last several months, it seems to me that while between May and Septmeber things kind of wobbled around and the momentum slowed (due to massive stimulus infusion on a number of fronts and employers waiting to see if things were going to actually get better before further layoffs), October's numbers show that the steep climb up has resumed.

Let's see what November's numbers look like - if that rate of increase continues even with holiday hiring/retention as a factor, I don't see how things can hold together at all past Christmas.

[DoomOrBust]

Let them eat cake!   

[DoomOrBust]

The Dow was up by 20 a moment ago, but now it's struggling to stay in positive territory.

Who are the idiots that are buying in this grossly overvalued market? I just checked the month end S&P 500 P/E ratio. It's 137.98!

That's totally out of whack historically. Earnings would have to increase 10-fold to justify today's stock prices.

I think the PPT is working overtime, pumping manufactured money into the market because that's one of the few "green shoots" they can actually control.

You answered your own question ("I think the PPT is working overtime, pumping manufactured money into the market because that's one of the few "green shoots" they can actually control")!

[jtmo3]

Guys, just look at what's going on. The dow is going to move into positive. Gold off it's high. The dollar is about to move to positive. Treasuries up and yields down. All this thanks to unlimited free money to the big banks. This is insanity. This ends one of two ways. Either they inflate the shit out of everything and forgive debts and we have runaway inflation for a time or we get deflation when it doesn't work and things get nasty that way as leverages are due. I see no other options here. There is a price to be paid for what they are doing. There's just no way around that. For the life of me I don't get it. It just makes no sense to me. But this country has been living the short term life for a while now, many decades. And I see no hint that it's changing one bit. This ends badly. The question is when.

[DoomOrBust]

Guys, just look at what's going on. The dow is going to move into positive. Gold off it's high. The dollar is about to move to positive. Treasuries up and yields down. All this thanks to unlimited free money to the big banks. This is insanity. This ends one of two ways. Either they inflate the shit out of everything and forgive debts and we have runaway inflation for a time or we get deflation when it doesn't work and things get nasty that way as leverages are due. I see no other options here. There is a price to be paid for what they are doing. There's just no way around that. For the life of me I don't get it. It just makes no sense to me. But this country has been living the short term life for a while now, many decades. And I see no hint that it's changing one bit. This ends badly. The question is when.

WW3 or WW4 (or whatever it is up to now) is the end game, last chapter in humanities history book after everything else fails.

Party on dudes!!!

Kind of like the party on the Titanic the night before the iceberg introduced itself. Eat drink and be merry today, for tomorrow you will be swimming in sub freezing salt water without any hope of rescue.

[Candace66]

BREAKING NEWS:

Green Shoot industry to add 30,000 new jobs. 
Senior economic adviser, Bill Shat, was quoted as saying that he attributes the massive growth in the 'shoot' industry to the timely stimulus injected into the economy by the Obama administration.

Hooray!!  We're saved!!