Wamu Graffiti
By Barry Ritholtz - November 15th, 2008, 5:30PM
We all agree that pessimism is a mark of superior intellect. —John Kenneth Galbraith
Macro Notes
Jobless ClaimsPeter Boockvar
Initial Jobless Claims totaled 614k, 1k less than expected but the prior month was revised up by 3k to 630k. Continuing Claims fell by 53k from last week and was 38k less than expected. There has been a big discussion of late over the expiration of unemployment insurance and how the recent drop in Continuing Claims is due to people losing it rather than finding a new job. While there is no question benefits are expiring without one finding a job, as evidenced by the rising exhaustion rate, many losing those benefits now started getting them when initial claims were...
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November 15th, 2008 at 5:52 pm
Nice! Unexpected and funny. Did anyone else notice that W looked like a chastened teenager when he addressed the media today? What’s that old Firesign Theatre bit? Something along the lines of “Everything you know is Wrong.” W had the look of a man who just figured that out after being verbally abused by the other G20 honchos. If W wasn’t so totally culpable for so many truly bad things I’d almost feel for the guy…..
Scott in Chicago
November 15th, 2008 at 9:53 pm
LOVE those stencils. It takes me back to fun days.