A Chill Little Wind Just Blew Over
…the administration’s faux rosy glow.
Futures Pare Gains After Jobless Claims Report
Futures came off their best levels Thursday after a weaker than expected jobless claims and a disappointing retail sales report, but held some gains after successful bond auctions in Europe which also pushed European stocks higher and sent the euro to a session high.
…On the economic front, weekly claims for unemployment benefits gained more than expected, according to the Labor Department, climbing by 24,000 to a seasonally adjusted 399,000, the highest in six weeks. The four-week average claims also rose to 381,750 from 374,000.
Meanwhile, retail sales rose a disappointing 0.1 percent in December, the weakest pace in seven months.
If we set Dr. Peabody’s WayBack Machine to just a fauxny few weeks ago, you’ll remember MSM hype was in hopeful, helpful swing…
Obama bolstered by Republican fight, economic gains
President Barack Obama’s re-election hopes in 2012 could be getting brighter as the bruising Republican nomination fight intensifies and the struggling U.S. economy shows signs of hope.
Oh, golly. What WILL they do now?
Oddly enough, I’m sure we’ll find out directly.
Bingley Update: Here’s the really scary little nugget hidden in this data:
Spending at electronics and appliance stores fell 3.9 percent in December, while shopping at department stores slipped 0.2 percent.
Fueling the overall increase in retail sales during December, receipts for motor vehicles and parts increased 1.5 percent, adding to the prior month’s 0.9 percent gain.
Excluding autos, retail sales fell 0.2 percent, the first decline since May 2010.
Put that in your pipe and smoke it.
Biz, Media, Nanny State, People, Politics | tree hugging sister | 
January 12, 2012 9:13 am
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The Double Dip.
It ain’t just for Skoal anymore.
Timeout for sports here. The early stages of dementia may be upon me but I do seem to remember all those glorious reports of record sales during the Christmas season.
What happened? Where did all those low margin flowers go, and in just a short time passing?
What will Krugman’s response be?
More denial, naturally.
Looking down the same memory hole, Yo. MSM was full of cheery stories about consumer spending the week after Thanksgiving. Maybe Her Highness scared people from Wal-Mart with that photo op.
Well, there was a sales increase of firearms during the Christmas season. Even the FBI confirms that. But I don’t think that’s something the Lame Stream Media wants to focus on.
And if you want to feel a chill little wind, read how Greek parents are abandoning their children because they can’t afford to support them.
All you lefties, please explain why is it a Good Thing that we should be more like Europe……?
It Takes A Village, Jeff.
A Village of idiots, maybe.
JeffS, Krugman’s response will be what it always is – spend more! More! More! More stimulus! More TARP! More! More! More! You can never be too bankrupt!
Well, people won’t be spending it on the Chevy Volt if what I was just told by a reliable source proves to be true. GM has announced that it will be discontinued. Another Obama initiative down the shitter.
Correction: What GM has said is that they won’t produce more than they need, which some industry analysts have interpreted to mean, they will adjust production to “build to order” status. I can’t imagine the price of these cars should production be on this basis.
Probably just too naive, but what is the difference between discontinued and not producing more than they need?
Probably should have added that the question applied to the Volt.
The Fed just released statistics indicating that there was a build in the economy late in the year. That does see a little odd given all those stories about manufacturers slowing production and leaving many retailers with close to just on hand inventory. I guess it will all be known in the fullness of time.