And the initial claims numbers show no signs of recovery in the job market, with initial claims remaining excessively high, at 422,000, though the 4-week moving average did fall by 14K to 425,500, and continuing and emergency/extended claims were basically flat.

So, the employment numbers are crap, and stuck in a no-recovery “sweet spot,” and it looks like the real estate market is still crashing, a rebound in manufacturing would take years for the capital to be assembled and constructed, and we still have Wall Street sitting athwart our economy, extracting its unearned vigorish that saps both resources and intellect from productive activity.