Was The Jobless Claims Number Good? Don't Get Too Excited...

Of course, the seasonally adjusted headline number over which every talking moron in the financial media is doing an end zone dance over looks great.  But here's the golden truth, direct from the Dept of Labor press release:  The advance number of actual initial claims under state programs, unadjusted, totaled 521,834 in the week ending Dec. 25, an increase of 24,879 from the previous week.

Here's the press release if you want to peruse the report:  LINK

So there you have it.  Just more Government and financial media Orwellian/Randian garbage.  The fact of the matter is that our economy is starting to fall of a cliff again.  Expect more QE and higher precious metals prices in 2011.  That will be my only 2011 prediction.