Incomplete Recall

The jobless claims bull propaganda had a little unconscious humor this morning – “Four-week average lowest since November 2007.” A quick look at the charts should maybe provide a clue that a low rate of jobless claims in November 2007 was not actually a harbinger of good times for markets, which went on to lose more than 50% over the following 18 months. But pump, pump, pump anyway. This time it’s different. Right.

WordPress says this is post #2500 FWIW.

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