It’s the gift that keeps on giving. Initial jobless claims slipped again last week, retreating by 4,000 to a seasonally adjusted 323,000—the lowest since January 2008. The latest drop is slight, but the fact that claims fell to another multi-year low for the week through May 4 is significant. The main takeaway in today’s report: the odds continue to look favorable for modest growth in the labor market.
Daily Archives: May 9, 2013
The Chronic Crisis That Is The Euro
Lars Seier Christensen, the co-chief executive of Saxo Bank, thinks it’s only a matter of time before the euro passes into history as another failed experiment in the dark art of monetary machinations.”It is the renewed reality for traders and investors,” he advised at a Bloomberg conference last week in London. “The euro is a doomed currency and a lot of people knew that already when it was introduced. Rationality needs to return to the Eurozone. If it doesn’t, recession will turn into depression.”