What the government and their media fools will report tomorrow and bemoan as stubborn and sluggish growth or maybe even as a gliimer of good news (yep, I just heard Fox say those very words) as first time unemployment claims for the week ending July 9, 2011:

405,000

The real non-adjusted number they will ignore:

470,671

John Galt:

Weekly Unemployment Claims: Just a Wowser at 470,671
By John Galt– July 14, 2011

The weekly unemployment claims report was an eye opener but you won’t hear about that from the Bubblevisions or mainstream media as they issue their state directed propaganda on the hour and half hour. The unadjusted claims came in at a shocking 470K which means the seasonal adjustment to 405K was one of the largest distortions this year: [Image] The other portion of the report which will be ignored even with the seasonal adjustments (SA) is the fact that the four week moving average is stubbornly above 400K, which during the Bush administration was consistently called “depression like” and “Armageddon” by the socialist elites of this nation even though there were no unemployment benefits during any prior economic depression in U.S. history. Add in the huge revisions to both the NSA and SA numbers and this report is ugly no matter how they spin it. If the NSA numbers come in at over 500K next week it would indicate further deterioration in the employment situation and start to parallel 2008-2009. The weekly NSA chart gives a clue as to what is happening and the stark fact that the trend is no longer flattening but increasing, a huge negative for the economy in H2. [Image]