496,000 new unemployment claims!
A very bad number, but, as Floyd Norris points out, it may reflect more on the very bad weather.
Durable goods orders ex-aircraft fell 2.9%!
This figure means businesses, having restocked inventory in the fourth quarter, are not spending.
It would be nice if our leaders would notice this and start spending, but the deficit fetish rules the roost in Washington these days.
Helicopter Ben’s back on the Hill this morning, telling everyone that cheap money is here to stay, so bubble away!, and that the Fed, while feeling bad about it, will continue doing nothing much about unemployment.
Gorilla says: “Caring is fine, but action would be finer!”
