Bad News; delivered ohhh sooo sweetly!

I am convinced Mellisa Lee from CNBC could announce to me that the Apocalypse was imminent; and I would demurely smile.

and yet, snippets from today's economic news is troubling to say the least, but the reality is, it's stunning. (yup, I wanted to use the word stunning for obvious reasons)

Aug. 19, 2010, 11:44 a.m. EDT

Jobless claims jump to nine-month high

WASHINGTON (MarketWatch) -- First-time filings for state unemployment benefits rose unexpectedly last week to reclaim the highest level for this key economic benchmark since the middle of last November, the Labor Department reported Thursday. For the week ended Aug. 14, initial claims rose 12,000 to 500,000. This is the highest level since the week ended Nov. 14, 2009.

Claims had fallen as low as the 427,000 level in mid-July but have worsened steadily since and now have increased for three straight weeks. (Buff- remember all those temporary census jobs “created”.) 

 Aug. 19, 2010

Existing home sales dive to 15-year low

……………..Sales of previously owned U.S. homes took a record drop in July to their lowest pace in 15 years, suggesting further loss of momentum in the economic recovery…………

………….The government on Friday is expected to revise down growth in second-quarter gross domestic product to an annual pace of 1.4 percent from 2.4 percent, according to a Reuters survey…………..

   

"We need this stimulus program to prevent unemployment from exceeding 8%".- POTUS


"Prosperity is just around the corner".- POTUS


"The country is mired in malaise".-POTUS (Buff- In other words, it's all your fault people! I'm a great leader! NOT!!!)

God Bless the United States of America!