Past week's initial jobless claims surprised economists...oh come on!

The data “surprised economists” is laughable given the fact that their data is solely a myopic perspective from Wall Street. They are removed from the “real world” and deem Wall Street the center of the economic universe. Why anyone deems an economist’s opinion as credible is beyond me especially given our top economist’s (a.k.a. Helicopter Ben Bernanke’s) complete miss on the impact of subprime mortgage.

Economist’s dribble combined with utterly polluted government reports courtesy of seasonal adjustments and a manipulated birth/death rate model collectively yield the same level of clarity as Hermann Rorschach’s art collection.

While financial cheerleader networks such as CNBC incessantly spew a “glass half full” scenario, the reality of unemployment is sobering. The most recent DOL data reports emergency unemployment claims were up 261,817 to 5,855,301. This figure roughly represents the entire population of Maryland or the collective populations of Nebraska, New Hampshire and Utah.

Don’t be concerned, this is a “jobless recovery”.