S&P 500 hits another 5-year high after getting a boost from housing report; eBay jumps

  • Article by: STEVE ROTHWELL , Associated Press
  • Updated: January 17, 2013 - 10:34 PM

NEW YORK - The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy.

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callmeronJan. 17, 1312:06 PM

"Weekly unemployment benefit applications fell 37,000 to 335,000" LIE!!! Reading the report at dol.gov, THIS is what it says: "The advance number of actual initial claims under state programs, unadjusted, totaled 555,708 in the week ending January 12". That 335,000 figure (which is impressively LOW) is the Obama-administration's "seasonally adjusted" number. The ACTUAL number of unemployment applications was 555,708 last week. And seasonal workers do NOT qualify for unemployment. You must be employed a period of time longer than 2 months and work a minimum amount of hours to qualify for unemployment. 2

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callmeronJan. 17, 1312:09 PM

"Weekly unemployment benefit applications fell 37,000 to 335,000" LIE!!! Reading the report at dol.gov, THIS is what it says: "The advance number of actual initial claims under state programs, unadjusted, totaled 555,708 in the week ending January 12". That 335,000 figure (which is impressively LOW) is the Obama-administration's "seasonally adjusted" number. The ACTUAL number of unemployment applications was 555,708 last week. And seasonal workers do NOT qualify for unemployment. You must be employed a period of time longer than 2 months and work a minimum amount of hours to qualify for unemployment. 2 MILLION people have filed initial claims for unemployment insurance the past 4 weeks. Those are not seasonal workers. The stock market has been going up because the Federal Reserve is printing $45 BILLION per month and using that to pump up stock values. "Chairman Ben S. Bernanke is increasingly aiming for gains in stock prices as the Federal Reserve reaches for new tools to spur the three-year recovery and reduce unemployment stuck above 8 percent. Bernanke, setting the stage for a third round of quantitative easing in an Aug. 31 speech in Jackson Hole, Wyoming, said the strategy works in part by boosting the prices of assets such as equities." Source: Bernanke Seeks Gains for Stocks in Push for Jobs: Economy, Bloomberg.com, Oct 2, 2012.

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