Nothing To Do, Nowhere To Go 0
Back above 300k.
(snip)
The four-week moving average, a less volatile measure than the weekly figures, fell to 322,500 last week from 323,500.
Total Beneficiaries(snip)
The number of people continuing to receive jobless benefits dropped by 13,000 to 2.65 million in the week ended May 10.
Bloomberg’s headline was Jobless Claims in U.S. Increased More Than Forecast. Given the track record of their forecasters, that their forecasters got it wrong is hardly headline news.
Wall Street’s fascination with “forecasters” is a blight and a plague. If a company makes a profit, but it’s not as great as “forecasters” forecast, the stock tanks. If that same company makes a loss, but the loss is less than the forecasters forecast, the stock soars. This shows, more than anything else, that “high finance” is mostly three card monte in three-piece suits.
In what other area outside of “reality” television is the work of what are essentially mediums minus turbans taken so seriously?
