Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Lazy Analysts at CNBC, Bloomberg, and the Wall St. Journal
The report last Thursday morning that there were 428,000 initial unemployment claims during the week of September 10, an increase of 11,000 was FALSE. The media, including those which should know better, reported those numbers. Those numbers are so-called "seasonally adjusted" and are totally without merit. They are not credible.
The number of actual claims was 325,999, more than 100,000 fewer, and there was no increase in claims in claims but an actual decrease in claims of 22,495.
The actual number of claims filed is consistent with a more or less stagnant stable economy.
Aside from some unexpected calamity, what threatens the U.S. economy are 1.) continued restrictions on the production and use of oil, coal, and natural gas, 2.) continued growth of the trade deficits, 3.) continued foolish enormous expenditures on so-called green energy, and 4.) increased regulation of business and financial institutions by the federal government.
The federal government will have to deal with all of these to achieve economic growth.
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