Friday, August 20, 2010

Rosie on Unemployment

"Claims are on a clear rising trend but we respect the view that you should never rely too heavily on one data-point — even a nice round number like 500k. Let’s just say that if we see the four-week moving average hit this level, a “double dip” — assuming we aren’t still in a “single-scoop” that began in December 2007 — will be baked in the ice cream cake. Fait accompli."

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