From Pine View Farm

Political Economy category archive

The Myth of the Job Creator 1

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Nothing To Do, Nowhere To Go 0

Still treading water:

Applications for jobless benefits decreased by 2,000 to 370,000 in the week ended May 19 from a revised 372,000 the prior week, Labor Department figures showed today. The initial claims matched the median estimate in a Bloomberg News survey of economists. The number of people on unemployment benefit rolls and those receiving extended payments dropped.

(snip)

The four-week moving average, a less-volatile measure, fell to 370,000, the lowest in a month, from 375,500.

The number of people continuing to collect jobless benefits dropped by 29,000 in the week ended May 12 to 3.26 million. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs.

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The Cycle 0

He's black because that's how he was born.  He's suspicious because he's black.  He's pursued because he's suspicious.  He's defensive because he's pursued.  He's shot because he is defensive.  He's dead because he's black.

Via Contradict Me.

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Mittonomics: Not a Distraction 0

Instead, a destruction.

Excerpt: “When you are president, you job is not to maximize profits.”

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Austere Truths 0

Tom Tomorrow:  Attack of the Austerions
Click through for a larger image.

Via Kos.

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Nothing To Do, Nowhere To Go 0

Bloomberg: Unemployments holds stead at 370k. Still treading water.

Estimates ranged from 360,000 to 375,000. The Labor Department revised the previous week’s figure up to 370,000, from an initially reported 367,000.

The four-week moving average, a less volatile measure than the weekly figures, fell to 375,000 last week from 379,750.

(snip)

The number of people continuing to receive jobless benefits rose by 18,000 in the week ended May 5 to 3.27 million.

The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

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A Picture Is Worth 0

Chart slowing spending a deficits lower under Obama than under Bush

Via Bob Cesca.

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Mittnomics, the Legacy 0

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Update from the Foreclosure-Based Economy 0

Uh oh.

In previous months, increases in the sales volume could be attributed in part to distressed sales, which have played a major role in Hampton Roads in recent years. Last month, however, foreclosures and sales by home-owners whose homes were worth less than their mortgage balances – known as short sales – accounted for 31 percent of all sales, which is down from a 35 percent share a year earlier.

Locally, foreclosures and short sales as a portion of all sales reached a high of 42 percent in May 2011.

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Nothing To Do, Nowhere To Go 0

Still stalled:

Jobless claims dropped by 1,000 to 367,000 in the period ended May 5, in line with the median forecast in a Bloomberg News survey and the lowest since the end of March, the Labor Department said today in Washington. The number of people on unemployment benefit rolls was the smallest since July 2008.

(snip)

The Labor Department said the four-week moving average of claims, a less-volatile measure than the weekly figures, decreased to 379,000 last week from 384,250 the previous period.

The number of people continuing to receive jobless benefits dropped to 3.23 million in the week ended April 28 from 3.29 million. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

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Bushonomics: The Legacy 0

Peopleless Homes and Homeless People

Via Contradict Me.

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Nothing To Do, Nowhere To Go 0

A little better.

Jobless claims fell by 27,000 to 365,000 in the week ended April 28, a one-month low, from a revised 392,000 the prior period, Labor Department figures showed today in Washington. The median forecast of 46 economists surveyed by Bloomberg News called for 379,000 applications.

(snip)

The four-week moving average, a less-volatile measure than the weekly figures, climbed to 383,500 last week from 382,750.

The number of people continuing to receive jobless benefits fell to 3.28 million in the week ended April 21 from 3.33 million.

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Mitticisms To Come 0

Upcoming Mitt the Flip Gaffes


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Via BartBlog.

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Your Tax Dollars at Work 0

Graph showing what each millionaire's tax cut could pay for in services


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Via BartCop.

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Nothing To Do, Nowhere To Go 0

Once again, no change for all practical purposes. Also, they still need new “experts” to make their predictions (follow the link for the expertitude).

Jobless claims fell by 1,000 to 388,000 in the week ended April 21 from a revised 389,000 the prior period that was the highest since early January, Labor Department figures showed today in Washington. The median forecast of 48 economists surveyed by Bloomberg News called for a drop to 375,000.

(snip)

The four-week moving average, a less-volatile measure than the weekly figures, climbed to 381,750 last week, the highest since Jan. 7, from 375,500.

The number of people continuing to receive jobless benefits rose to 3.32 million in the week ended April 14 from 3.31 million.

The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

I wish I could get a gig as one of their “experts.” Expertise seemingly is not a qualification.

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Windy NIMBY 0

Frankly, I find that industrial wind turbines have a sort of industrial grace to them.

The Donald doesn’t.

The New York real-estate entrepreneur will tomorrow tell lawmakers at the Scottish Parliament in Edinburgh about his opposition to a proposed 230 million-pound ($371 million) experimental offshore wind farm in sight of the golf course he is opening in July. Trump’s warnings about the effect of the wind energy industry on tourism aren’t borne out by the facts, according to the government.

“I am very disappointed with him, these wind turbines will destroy Scotland,” Trump said in a telephone interview on April 19. “Other countries are stopping building them. Alex is 20 years behind the curve.”

Aside:

The Donald’s claim that countries are abandoning wind energy is a self-serving lie.

This is not a surprise.

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Update from the Foreclosure-Based Economy 0

Bankster magic continues to cast its spell:

House prices have dropped by over a third from their peak as the bubble burst. High levels of distressed properties on the market have hampered the market, as has the high unemployment rate and tough credit conditions, which have offset the benefit of mortgage rates near or at record lows.

And Mitt the Flip wants to do it all over again. Paul Krugman explains (follow the link for the rest):

. . . since Mr. Romney is essentially advocating a return to those very same Bush policies. And he’s hoping that you don’t remember how badly those policies worked.

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Misdirection Play, Social Security Dept. 0

There’s a big black headline in my local rag implying the doom of social security (the link does not appear to be on their website yet).

Rather than duplicate efforts, I’ll just let Atrios explain it.

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Nothing To Do, Nowhere To Go 0

For all practical purpose, no trend here:

Jobless claims fell by 2,000 to 386,000 in the week ended April 14 from a revised 388,000 the prior period that was higher than initially estimated, Labor Department figures showed today in Washington. The median forecast of 47 economists surveyed by Bloomberg News called for a drop to 370,000. Revisions to previous data have been larger than normal and the government is trying to determine the cause, a Labor Department spokesman said as the figures were released to the press.

(snip)

The four-week moving average, a less volatile measure than the weekly figures, rose to 374,750 last week from 369,250.

The number of people continuing to receive jobless benefits rose by 26,000 in the week ended April 7 to 3.3 million.

The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

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Deadlines 0

Celebrate Returns Day by comparing your tax rate with Mitt the Flip’s.

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