Jobless claims lowest since 2008: Tricky Rick out

Update: In unrelated untimely celebration of the good news Rick Perry pulls out of the GOP nom race.

It’s over. It may not feel over, it sure as hell doesn’t seem over for a lot of people including me. But the Great Recession is over. I was pretty sure late last year when I saw the confirmation bump in the trend, but I’m as certain now as one can be about these things.

(DoL.gov) — In the week ending January 14, the advance figure for seasonally adjusted initial claims was 352,000, a decrease of 50,000 from the previous week’s revised figure of 402,000. The 4-week moving average was 379,000, a decrease of 3,500 from the previous week’s revised average of 382,500. The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending January 7, a decrease of 0.2 percentage point from the prior week’s unrevised rate.

So we have a situation where the worst economy in 70 years began under a Republican President and the most conservative congress we’ve had in my life – after they ruled for years with the gale of 9-11 at their backs — now we have an economy that is recovering under a centrist Democratic liberal and a bipartisan Congress, and most of the recovery ledge was passed two or more years ago by a democratically controlled Congress. It’s a lead-pipe cinch.

Republican policies, at least as they exist now, suck. They do not work. Deregulation of financial industries causes economic cluster-fucks. Tax cuts for the super rich and corporations increases the deficit leaving us unable to properly react with fiscal stimulus and middle-class support during the time of greatest need. Those give-aways do not trickle down, they only create powerful centers of influence dedicated to procuring more give-aways to the wealthy and providing more outs when the wealthy fuck up. Wars on the national credit card bequeath debt, death and misery for the nation’s best and brightest and exacerbate attempts to crawl out of the economic pit. 

This is not speculation, these are facts of recent history. What’s the saying about people who do the same thing over and over again and expect different results?