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News Ticker from FNC

Thursday, July 22, 2010

Numerology Class

Weekly Jobless Claims

(don't know why they call it this, its really the number of people signing up for
1st Time Unemployment Benefits
- the new kids on the block)
Week Ending 17 July 2010:
464,000
More than expected (they figured it would be closer to 445,000)
++++++++++++++++++++

$34Billion
amount of money going into Unemployment to extend benefits, again
those getting benefits will be able to get an additional 99 wks (June 2012)
+++++++++++++++++++
This might be a tad hard to see:

What it says:

For 60 yrs the maximum average duration of staying on Unemployment was 20 wks ... that's it ... over all average was only 10 wks

These numbers are going to get screwed up now ...

19.5 weeks Jan 2009
35.9 weeks NOW

++++++++++++++++++

Average Unemployment Checks (by state)

$293/wk US average

$450/wk NY

$537/wk CT

$230/wk MS (2009)

$628/wk Mass. (2009)

Full List of benefits by state

++++++++++++++++++

Elderly Home Care is about to be cut in several states trying to cut their budget:

  • FL: 69,000 Wait-List for In-Home care (10% forced into nursing-homes ... which is actually more expensive for the state to cover)
  • AL: Housekeeping services
  • KS: independent Living
  • IL:Meal Delivery Services reduced (Meals-On-Wheels)
  • NJ/NY/TX/MO: Spending Freeze
  • CA: Reducing Home care to 400,000

States claim that Obama-care puts more burden of costs for these services, where the federal government used to help them out with a good share of it.

++++++++++++++++++

Fed. Chairman Bernanke told Congress that US Economy is fragile ... but Bernanke was very careful not to say if economy will enter a second (deeper) Recession.

Blue Dogs in Senate are thinking that perhaps tax-cuts should remain after Jan 1,2011

++++++++++++++++

Has the Economy hit Bottom?
62% Not Yet
33% Yes (conclusion: seen the worst)

+++++++++++++++

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