Initial Jobless Claims & Q4 GDP
Summary: As the economy produces fewer jobs and more companies tighten their belts, initial jobless claims increase.
Q4 GDP confirming near zero domestic growth for an emasculated economy.
Initial Claims 02/23 +19K at 373K vs prior 354K Full Report
Inside the number: Previous revised up 5K. 4 week MA -1.25K at 360.5K. Continuing unemployment +21K at 2.807M; 4 week MA +24.25K at 2.777M.
GDP-Prel. Q4 +0.6% vs Q3 +4.9% Full Report
Inside the number: Gross domestic fixed investment -12.5%; residential -25.2%.
Gross domestic purchases -0.3%; disposable personal income -0.3%; imports -1.2%; exports +4.8%; export services +6.8%.
% contribution to GDP: exports +0.57; subtracting the debauched dollar export contribution; domestic GDP growth is -0.03%.
This is the new economy; non durable service and debt based. The sad part is the wheels, or service employment, are just starting to fall off.
There is no bottom in sight and the worst is yet to come, as we are about to witness an deflation spiral fueled by three horsemen:
1. the imbalances of globalization or yield chasing (labor at the margin);
2. the emergence of the house of finance (money shuffing vs durable economic activity);
3. central bank debauchery and its attendant commodities stagflation.
These three horsemen have one thing in common, greed.
That which saps the populaces hope and becomes the 4th horsemen, fear, uncertainty and doubt.
Through which control is maintained vis a vis crisis management.
Q4 GDP confirming near zero domestic growth for an emasculated economy.
Initial Claims 02/23 +19K at 373K vs prior 354K Full Report
Inside the number: Previous revised up 5K. 4 week MA -1.25K at 360.5K. Continuing unemployment +21K at 2.807M; 4 week MA +24.25K at 2.777M.
GDP-Prel. Q4 +0.6% vs Q3 +4.9% Full Report
Inside the number: Gross domestic fixed investment -12.5%; residential -25.2%.
Gross domestic purchases -0.3%; disposable personal income -0.3%; imports -1.2%; exports +4.8%; export services +6.8%.
% contribution to GDP: exports +0.57; subtracting the debauched dollar export contribution; domestic GDP growth is -0.03%.
This is the new economy; non durable service and debt based. The sad part is the wheels, or service employment, are just starting to fall off.
There is no bottom in sight and the worst is yet to come, as we are about to witness an deflation spiral fueled by three horsemen:
1. the imbalances of globalization or yield chasing (labor at the margin);
2. the emergence of the house of finance (money shuffing vs durable economic activity);
3. central bank debauchery and its attendant commodities stagflation.
These three horsemen have one thing in common, greed.
That which saps the populaces hope and becomes the 4th horsemen, fear, uncertainty and doubt.
Through which control is maintained vis a vis crisis management.
Comments