[Pen-l] green shot

[Jim Devine <jdevine03@xxxxxxxxx>]

Posted By Barry Ritholtz On June 22, 2009 @ 10:00 am In Film, Finance,
Friday Night Jazz, Investing, Markets | 19 Comments

Last week, we saw Continuing Claims decrease — proof, said the green
shooters [optimists], of the imminent economic recovery.

Only, not so much:

Those of you (who can still afford the luxury of) a trusty Bloomberg
will note the ‘exhaustion rate’ for jobless benefits - EXHTRATE –
reveals that people are not leaving the pool of continuing
unemployment claims because they are getting new jobs; Rather, they
are leaving because they have exhausted their benefits.

They are now unemployed AND broke. That is hardly a green shoot . . .

see graph at: http://www.ritholtz.com/blog/wp-content/uploads/2009/06/exht-rate.png
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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