Initial Jobless Claims WORSE Than Expectations At 429K, Last Week Revised Higher

[Karmadillo]

Soon, very soon, maybe as you read this, the PRIVATE MARKET (All hail!) will solve this problem in unspecified glorious ways. Just wait. Any second. UNLESS the government starts some commie job program or something like that because that would kill the PRIVATE MARKET (All hail!) and leave us imprisoned in a bad economy for a very long time. Have faith! Do nothing. All will be well.

http://www.businessinsider.com/june-23-initial-claims-2011-6#ixzz1Q7A2Fad5

Background: You know the drill here. Analysts are looking for initial jobless claims of 415K, basically flat from last week's 414K. It's been awhile since there was a sub-400K reading. The number will be out momentarily.

The number is out, and they're not pretty. Up to 429K from a revised 420K last week.

So much for the nascent re-recovery?

Dow futures are off 87 following the news.

more...

[Vanje]

1. Brother , can you spare a dime?

They used to tell me I was building a dream, and so I followed the mob,
When there was earth to plow, or guns to bear, I was always there right on the job.
They used to tell me I was building a dream, with peace and glory ahead,
Why should I be standing in line, just waiting for bread?

Once I built a railroad, I made it run, made it race against time.
Once I built a railroad; now it's done. Brother, can you spare a dime?
Once I built a tower, up to the sun, brick, and rivet, and lime;
Once I built a tower, now it's done. Brother, can you spare a dime?

Once in khaki suits, gee we looked swell,
Full of that Yankee Doodly Dum,
Half a million boots went slogging through Hell,
And I was the kid with the drum!

Say, don't you remember, they called me Al; it was Al all the time.
Why don't you remember, I'm your pal? Buddy, can you spare a dime?

[cherokeeprogressive]

2. Well, I guess a chess game isn't won on the first move...

or something like that.

[amborin]

3. just a little rough patch

[Karmadillo]

4. Kick

nt