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View Diary: The Swan is still Black, and We're Still Screwed (212 comments)

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  •  A few points (1+ / 0-)
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    forgore

    First -- as New Deal Democrat pointed out -- there is a known seasonality in claims which you are not considering -- and which you did not reproduce.  

    There is also the Challenger Job Cuts report which shows a similar decline, along with the seasonally adjusted mass-lay-offs.  

    Finally, the number of people who have been unemployed for five weeks and less has been decreasing since the beginning of the year.

    the point here is there are several confirming data points that say the same thing: the front-end of the employment situation is getting better.

    Secondly -- Everyone thought an auto bankruptcy would kill the economy.  They didn't.  Neither will a CIT bankruptcy.

    Third -- banks have added over $80 billion in capital to their balance sheets bolstering their capital positions.  While I expect the road to be rocky, I don't see it as being fatal.  

    "You think you can intimidate me? Screw you. Choose your Weapon." Eliot Spitzer

    by bonddad on Sat Jul 18, 2009 at 12:48:59 PM PDT

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