Rah Rah

The rah rah crowd is trumpeting “jobless claims lowest since May 2007.” And what followed May 2007? Maybe the rah rah crowd should look at a historical chart…

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Edit: Then the new home sales release put paid to last month’s celebration of a resurgence in the property market, as the reported gains were almost entirely revised away and followed by a nearly 10% drop this month. See your “recovery” here:

 

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