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Yet Another Record Low In Initial Unemployment Claims Screams Danger

The actual unmanipulated data on weekly first time unemployment claims paints a picture of a US economy that is in a bubble that is boiling over, driven by the massive central bank money printing campaigns and ZIRP. The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 313,000. The…

The Pathetic ‘Talk Therapy’ Of Janet Yellen

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What in god’s name does Janet Yellen think she is doing? Just a few weeks ago she established the ridiculous Fedspeak convention that “patient”  means money market rates will not rise from the zero bound for at least two meetings. Now she has modified that message into “not exactly”. As her Wall Street Journal megaphone, Jon Hilsenrath, was quick to amplify:…

US Deflation Deepens In January (-0.7 Percent MoM) – Key Input In Housing Construction (Lumber) Also Deflating

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US deflation was measured by the Consumer Price Index MoM fell more than expected. Economists were expecting -0,6 percent in January, but the actual print was -0.7 percent.   A key input into housing construction, lumber, has been deflating as well. And West Texas Intermediate Crude futures price dropped over 3 percent overnight to hang […]