The fabricated GDP will come in smooth after Obama’s call
Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense.
1.To the jobless numbers -I hope you know that the declining part derives from the fact that people are thrown out not because they found a job
2. To the GDP it contains a lot of proprietary elements which means the government can fabricate the biggest part to their will what they do for 20 years now by decreasing inflation and blowing up the GDP – both are big fat lies.
Jobless Claims Showing Unemployment Trending Down
The number of U.S. workers filing new claims for unemployment benefits rose slightly more than expected last week, but the number of workers staying on jobless roles fell to the lowest in three months, government data showed on Thursday.
Initial claims for state unemployment insurance benefits rose 25,000 to a seasonally adjusted 584,000 in the week ended July 25, the Labor Department said, a touch above market expectations for a reading of 570,000.
However, the four-week moving average for new claims, considered to be a better gauge of underlying trends as it irons out week-to-week volatility, fell by 8,250 to 559,000.
GDP Is Expected to Fall Again, But ‘The Nosedive Is Over’
Friday’s GDP report is expected to show the economy shrank further in the second quarter, but many economists believe the data will also signal that the recession has finally hit bottom.
“The nosedive is over,” says economist David Jones of DMJ Advisors. “Nevertheless, you come out of this looking past the second quarter with a very uneven recovery picture.”
The consensus forecast is that the GDP report will show the economy contracted at a 1.5 percent annual rate in the April-to-June period. That preliminary number will be updated twice in the coming weeks.