by John Galt
July 5, 2012 08:45 ET
Yawn. Another boring report which illustrates that the economy is still flat and data can indeed be manipulated. The chart below reflects the stall in the decline in claims on a non-seasonally adjusted basis but remember one thing:
When Bush was President these types of numbers generated howls of “it’s the Great Depression all over again” from the mainstream media.
Ever since the KiC (Kenyan in Chief) was elected it is sort of weird how the cries of economic disaster and stories on the homeless have all but disappeared.
And now the data:
I guess stability during recessionary levels of 2008 is considered a success by TPTB. Meanwhile more people continue to lose their extended benefits but nothing compared to the massive wave of folks losing them in the two months leading up to the election.