Senator: There's a saying, Fletcher: To the victor belongs the spoils.
Fletcher: There's another saying, Senator, don't piss down my back and tell me it's raining.
Spin is relentless. It will break down your convictions, discipline, and will convince your rationale mind that its rain rolling down your back.
I've seen comments today that suggested that jobless claims at the current level indicate that the recession is over. Apparently, nothing can stop the both the market and economic recovery now.
The basis of the illusion, let's call it the price tag of "save me" policies, is up stocks and gold. Spin will always focus on sizzle (stocks) - look at the big gains, as long as the steak (gold) - even bigger gains, blows their cover.
A government report showing initial claims for unemployment benefits fell last week added to the market's enthusiasm following upbeat manufacturing reports overseas.
The first casualty of liquidity driven markets is objectivity.
Average Weekly Initial Claims State Unemployment (AWIC) And YOY Change:
Average Continuing Claims State Unemployment (CC) And YOY Change:
Challenger, Grey, and Christmas Announced Layoffs (ALO) And YOY Change:
Source: finance.yahoo.com
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